Trust Wallet – Review
Should you trust this easy-to-use mobile wallet with your cryptocurrency?
|Product Name||Trust Wallet|
|Supported Cryptocurrencies||BTC, LTC, ETH, ETC, ERC20, ERC223|
What is Trust Wallet?
Trust Wallet is a mobile wallet app that allows you to send, receive and store a wide range of cryptocurrencies. Designed with a focus on simplicity, this open-source wallet aims to provide a platform that’s easy and straightforward to set up and use.
Trust Wallet allows users to store private keys on their own device, an important security feature, and includes a backup facility for simple recovery. Other features include a built-in decentralised exchange through a partnership with Kyber Network, as well as a Web3 browser that allows you to interact with decentralised applications directly from the Trust Wallet app on Ethereum and Binance Smart Chain.
Android 6.0 and up, iOS 13.0 or later.
How much does it cost?
Trust Wallet is free to download from Google Play and Apple’s App Store.
Which currencies can I store?
Trust Wallet supports all major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH) and many more.
Is Trust Wallet safe?
Trust Wallet offers a number of security features to help protect your crypto holdings against hacking and theft. These features include:
- Private key. You're not required to store your private key on Trust Wallet servers but instead get to store the key locally on your device.
- Anonymity. You can download, install and setup Trust Wallet without having to provide any personal details. Trust Wallet also promises to never store any of your private data.
- Open source. You can review Trust Wallet's code online, while the app has also been audited by security experts Stateful.
- Backup facility. By backing up your Trust Wallet during the setup process, you can restore your wallet from an encrypted file in less than 30 seconds.
How do I add currency to my wallet?
To add currency to Trust Wallet, follow these steps:
- Log into your wallet.
- Tap “Receive”.
- Scan the QR code or copy your wallet address.
- Use this address to transfer funds into your wallet.
- Tap the “Transactions” tab to review the transaction history for your wallet and confirm that the funds have arrived.
How do I make payments with my Trust Wallet?
If you want to make a payment from Trust Wallet, complete the following steps:
- Log into your wallet.
- Tap the “Send button”.
- Paste your recipient’s wallet address in the field supplied or scan the relevant QR code.
- Specify the amount you want to send and tap “Next”.
- Review transaction details, including gas price.
- Tap “Send”.
Where can I get Trust Wallet?
- Android app: Google Play
- iOS app: Apple App Store
Pros and cons
- Free download
- Store a wide range of cryptocurrencies
- Simple and convenient to use
- You retain control of your private keys
- Allows staking and earning returns on held crypto-assets
- Available for both iOS and Android devices
- Will never be as secure as a hardware wallet
- Lacks second-layer security options like email confirmation for withdrawals