Trust Wallet is one of the best if you want a software wallet with high flexibility. Trust Wallet is an intuitive, easy-to-use cryptocurrency wallet that allows users to store multiple tokens, including Ethereum (ETH), Bitcoin (BTC), Litecoin (LTC), Ripple (XRP), and Bitcoin Cash (BCH). It also supports ERC20 tokens and Binance Coin (BNB). Weâll take a deeper dive in this Trust Wallet review.
You can send Bitcoin directly to one another within the app and manage your ERC20 tokens in real-time. The most impressive part of Trust Wallet is its cross-platform support. In other words, you can use it on your desktop, laptop, smartphone, and tablet.
What is Trust Wallet?
Trust Wallet is a decentralized mobile crypto wallet that supports over 160K+ blockchains and assets. In addition, it allows staking cryptocurrency coins to earn interest.Â
The app enables users to store, send and receive cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. The app also supports the exchange of these digital assets with fiat currencies such as USD and EUR through an integrated exchange service called Changelly.
Trust Wallet History
Trust Wallet was launched in 2017 by US-based Ukrainian software developer Viktor Radchenko. He first heard about digital currencies through the use of on the dark web, but it was not Bitcoin but Ethereum that urged him to try his luck in the crypto industry.
He began to feel motivated when he developed a mobile application for truckers to find parking lots and other amenities. After successfully launching this tracking app, he gained the confidence to design a wallet that can hold ERC20 tokens acquired through ICOs.
Pros and Cons
| Pros | Cons |
| It supports over a million cryptocurrencies. | Lost Trust Wallet accounts cannot be recovered. |
| Very easy to buy cryptocurrencies in the wallet. | They limited dApps usage. |
| You can stake it directly from the wallet. | |
| Convenient setup on Androids and iOS. |
Features of Trust Wallet
The main feature of Trust Wallet is a multifunctional wallet that supports multiple blockchains. In addition, it allows users to transact in cryptocurrency and non-fungible tokens (NFTs). As a result, the wallet supports more than 1 million tokens while allowing users to purchase many different cryptocurrencies through third-party providers Mercury, MoonPay, Ramp Network, Simplex, Transak, and Wyre.
Top 5 supported cryptocurrencies:
- Bitcoin
- Ethereum
- BNB Coin
- Litecoin
- Solana
Security
Although Trust Wallet’s biggest advantage is flexibility, its major con may be security. The wallet is accessible on mobile devices and Apple M1-powered computers using either a PIN or biometrics (a face scan or fingerprint) and is also secured by a 12-word secret phrase.
To take your transactions to an extra level of security, you can use the Trust wallet app’s integration with the Brave browser. Using this will allow you to have Brave serve as your browser without any extra work. Just install the extension for Chrome or Firefox and go about your business as usual. The extension also works with Opera and Vivaldi browsers.
Privacy
Trust Wallet is a popular app among privacy-conscious cryptocurrency investors. Users do not have to share identifiable information when they get started because the app is decentralized and user-controlled. They will only have to potentially provide information about themselves (like name, address, and government ID) when they buy cryptocurrency from one of their partners.
Setup
Getting set up with Trust Wallet is a very easy process. The first step is downloading the app, then running it. After installing and opening, users will be prompted to either import an existing wallet or create one from scratch. Suppose you already have a wallet set up with MetaMask or MyEtherWallet. In that case, you can transfer your data over in one of three ways: use your seed phrase to migrate to Trust Wallet, move using your Keystore file or private key, or create a backup of your information before attempting a migration.Â
Those setting up new wallets will be prompted to accept our terms of usage and get their 12-word secret recovery phrase saved. After saving it, the setup will prompt them again to input that recovery phrase into the app to ensure they have it. Once complete, their wallets are ready for use!
Customer Service
Although Trust Wallet offers a wide range of servicesâincluding sending money and storing cryptocurrencyâit has limited customer support. Users can find answers to most questions on the company’s self-help center and community forum. If an answer isn’t in one of those two sections, users can also contact Trust Wallet for assistance using a ticketing system for direct email support.
In addition to technical issues, Trust Wallet does not collect user information, so customer service can’t help individuals recover their PIN or 12-word secret phrases to access their account. If coins get sent across blockchains, and those tokens are lost forever, there is no way Trust Wallet can assist customers in getting them back.
Fees
Trust Wallet is free to download, set up, and use. It does not charge fees for sending cryptocurrencies and NFTs to other wallets or smart contracts. However, users will be responsible for paying gas fees when using Trust Wallet to purchase cryptocurrency on third-party exchanges. Furthermore, Trust Wallet charges an extra fee on cryptocurrency purchases made through their app, but this fee is waived if the user holds TWT tokens in a wallet.
The Bottom Line
Trust Wallet has a unique approach to cryptocurrency, focusing on support for more than 1 million coins across multiple networks. By limiting access to mobile devices, the app wants to increase security, reduce the chances of attacks and allow users to incorporate cryptocurrency into their everyday life. Trust Wallet has many upsides for those living in a place where more users accept crypto payments or want to hold many coins in one place.