Digital asset workers need cryptocurrency wallets to protect their currencies when storing, sending, and receiving them. Numerous apps are available, but Trust Wallet is popular among crypto enthusiasts. Many people worldwide utilize this non-custodial wallet to secure their digital assets. Trust Wallet is safe for US crypto buyers; the Trust Wallet review will examine why and how it stands out in a crowded market.
What is Trust Wallet?
Trust Wallet is a non-custodial cryptocurrency wallet that allows users to store, manage, and interact with cryptocurrencies and decentralized applications (dApps). Trust Wallet users own their private keys, unlike custodial wallet users. This means only you can protect your wallet and digital valuables, no one else can interfere.
Since its introduction in 2017 and 2018 purchase by Binance, Trust Wallet has become one of the safest and most complete wallets. The blockchain can contain over 10 million cryptocurrencies, tokens, and non-fungible tokens, and it supports around 70 blockchain standards.
Key Features of Trust Wallet
- Complete Private Key Control: Trust Wallet empowers consumers to be self-reliant, which is fantastic. However, Trust Wallet does not save passwords and secret keys on its computer. Users retain complete control over essential handling. Data leaks and unwanted access are less likely with this decentralized strategy.
- Multi-Blockchain Support: Trust Wallet connects to 70+ blockchains, including Bitcoin, Ethereum, Solana, and Binance Smart Chain. Users may store and manage many coins in one spot. Trust Wallet allows many chains, which is its best feature. This applies to traders utilizing several chains or using different tokens for different reasons.
- Decentralized Exchange Access: Trust Wallet users can trade cryptocurrencies from their wallets. It connects them to popular DEXs like Uniswap, PancakeSwap, and SushiSwap. Thus, middleman sites are unnecessary. Money transfers are becoming faster, cheaper, and more accessible. Decentralized Finance workers benefit from DEX integration.
- Staking Support: Believe Wallet enables users to swap multiple coins in the app to make money without doing anything. Staking supported coins from wallets validates the network and compensates stakes. Their digital assets become more valuable.
- Security: Trust Wallet takes security seriously, a 12-word “rescue phrase” and PIN protect the money. This ensures consumers may retrieve their wallets safely if they lose or steal their smartphone. Losing your password could mean never logging in again, so it must be secure.
How to Set Up Trust Wallet?
Setting up a Trust Wallet is a straightforward process. Follow these steps:
- To open the app, click the Trust Wallet button in the extension bar of your browser.
- First-time wallet makers should choose “Create a New Wallet.”
- Secure your Wallet with a password. Please confirm so we may proceed.
- Take note of the 12- or 24-word escape phrase on screen. Could you keep it away?
- Put your escape phrase in sequence.
- Spend your money today.
If you have an account, click “Import or Recover Wallet” and enter your recovery word to retrieve your Wallet. To stay safe, double-check and don’t share your password.
Supported Cryptocurrencies and Networks
Trust Wallet has several uses for crypto enthusiasts. It supports many currencies and blockchain networks. It works with several ERC-20, BEP-2, and BEP-20 coins and tokens. Bitcoin, Ethereum, and Binance Coin are popular. Trust Wallet also lets you hold more than one asset at once, which makes it simple to use decentralized apps (dApps). It supports over 65 blockchains and hundreds of digital assets, making it compatible with most tokens. Strong support lets users safely manage multiple accounts from a simple app.
Security Features and Privacy
Private Key Control
Trust Wallet does not keep your private keys; you have complete control over them. It keeps the keys in-house so only that person can access their money. The user must keep these keys safe.
Recovery Phrase
When you set up Wallet, it gives you a 12-word escape phrase. You need to remember this word to get back into your Wallet if you lose it or have it stolen. Keep the rescue word somewhere safe that’s not online. If you don’t do this, you could lose the bag and all of its money forever.
Mobile Security Features
Touch ID and Face ID are tools in Trust Wallet that add an extra layer of security for smartphone users. Users can also set the app to automatically lock so that other people can’t get in without their permission, making the app safer overall.
Privacy and Anonymity
Trust Wallet does not require KYC because it is not a custodial wallet. This protects user data. However, third-party services that require KYC may compromise their secrecy. Trust Wallet never shares user data, protecting privacy.
Trust token Feature
Trust Wallet Token (TWT) is the most significant coin for the app. It aims to improve user experience. TWT app users have many benefits, including fee waivers. If they have 100 TWT tokens, some app users can buy cryptocurrencies without paying the 1% fee. Deals and advantages are available to TWT owners. This makes it crucial to Trust Wallet. As Trust Wallet adds additional features, the Trust Token will make using the app’s growing community of over 250,000 digital assets easier and cheaper.
Pros and Cons of Trust Wallet
Pros:
- Over 10 million digital assets supported: It can hold countless cryptocurrencies and custom tokens. It supports 600 million NFTs and 100 blockchains.
- Non-custodial: Only non-custodial bank customers, like Trust Wallet, can see their secret keys. They control their digital assets.
- In-app decentralized exchange: The Wallet’s DEX lets you swap and exchange digital assets. However, this market only accepts BNB and BEP-2 tokens.
Cons
- Limited client service: While Trust Wallet doesn’t provide live customer support, send tickets to a robot, and see the help page for frequent issues.
- Private Android source code: Get the open-source iOS version from GitHub. In years, no one has modified the folder or released Android source code.
- Non-iOS dApp browser: This was against Apple App Store standards; thus, Trust Wallet removed the dApp website from its iOS app.
Who Should Use Trust Wallet?
New or experienced cryptocurrency users should utilize Trust Wallet. It allows new users to navigate easily and has full control since it doesn’t hold secret keys, which benefits security-conscious people. The Wallet stores about 10 million digital assets, including tokens and non-fungible tokens, making it ideal for cryptocurrency experimenters. Using open apps and staking assets helps crypto investors get rich.
SEE ALSO: Shiba Inu Coin Investing Tips: Build a Long-Term Portfolio
Final Verdict: Is Trust Wallet Worth It?
It supports many cryptocurrencies and offers open market access and staking. Trust Wallet is flexible and non-custodial. Personal privacy keys and hardware wallets are two security elements that make users feel safe. Despite its flawed iOS features and customer service, the app is ideal for new and experienced crypto users.
Trust Wallet FAQ’s
Is it safe to use Trust Wallet?
Users have full control over their secret keys and can use advanced security features, such as biometric authentication, to ensure their safety.
What should I do if I lose my Trust Wallet?
You can regain access to Wallet by using the 12-word seed phrase you were given when you set up your wit time.
Does Trust Wallet need to verify your identity?
Trust Wallet does not require Know Your Customer (KYC) verification when setting up a bank. This protects users’ privacy.
Can I connect Trust Wallet to a hardware wallet for additional security?
Yes, Trust Wallet works with hardware wallets like Ledger. This gives your assets an extra layer of security when they’re not online.
