Trust Wallet Review – Way More Than A Mobile Wallet

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Trust wallet is a secure mobile wallet built for Ethereum and ERC20/ERC223 tokens. Android and iOS users can leverage this platform via the app.

It’s been gaining more popularity in recent years as a go-to digital wallet for buying, exchanging, and receiving cryptocurrency. 

In this post, we explore what Trust wallet has to offer and how users can benefit from its ease of use.

Background

Trust Wallet was founded in 2017 by founder Viktor Radchenko and Maksim Rasputin. Based in Mountain View, California, Trust Wallet is a fully secure platform where users can store their cryptocurrency. 

It was created with the vision of becoming an all composing multi-purpose crypto wallet. 

Trust Wallet keeps your private keys stored locally and is easily accessible via its mobile app. July 2018 Trust wallet was acquired by Binance. Through the acquisition, it natively supports Binance’s decentralized exchange. Also featuring decentralized exchange from Kyber. 

Trust Wallet Overview 

Trust Wallet has simplified the way users can store their cryptocurrency in a secure fashion. Combining crypto investing, making payments, and using DApps in an easy-to-use, all-in-one package.

Through its mobile application users can manage tokens and coins while still maintaining control of private keys. Below we unpacked important features users can inspect when they sign up. 

Buy, Send, and Receive Cryptocurrency

Users can utilize Trust Wallet to send and receive supported cryptocurrencies. The process is secure and straightforward while also being quick.

Buying cryptocurrency can also be done through Trust Wallet with the integration of Binance decentralized exchange. Expanding the trading options for users who want to trade their digital assets.

Buy Crypto with a Card 

Through its partnership with Simplex. Trust Wallet allows users to make cryptocurrency purchases with a debit or credit card. This a convenient feature to enable users to easily buy their favorite cryptocurrencies like Bitcoin or Ethereum. 

Earn On Crypto Holdings Passively 

Trust wallet offers crypto holders a chance to earn passively in a myriad of ways. Passive income can be earned by lending crypto holdings or staking.

Depending on the tokens staked users can earn interest rates as high as 7.21% APR. Users can earn with Tezos, TRON, VeChain, Cosmos, Callisto, Kava, TomoChain, IoTeX, and Algorand.    

Trust DApp Browser

A feature that may go unnoticed by some, Trust Wallet has a functioning Web3 browser that can interact with decentralized applications (DApp).

DApp users are not required to sign up or create a login, rather directly engaging with DApp’s on the blockchain.

The DApp’s are unique and sourced to ensure a great experience. From games to social networks, DApps provided are constantly growing and can be assessed by anyone with a mobile device.

Non-Custodial Wallet & Backing Up

Trust Wallet is a non-custodial wallet. This means customers own their private keys and require a recovery phrase.

This is great for users who seek to have full control of their wallets. There is a decreased risk of these sorts of wallets getting lost, hacked, or shared amongst thieves. 

Trust Wallet utilizes a 12-word recovery phrase for added security and offline backup. These key features really show that Trust Wallet is putting a huge focus on privacy and security. 

Since users are responsible for their digital assists KYC is not required when signing up for a Trust Wallet.    

Crypto Supported

Blockchain agnostic, Trust Wallet is a platform that allows for multiple coins to be supported. In fact, we think it has the most robust number of coins seen on any wallet. Supporting over 20,000 tokens that are built on Ethereum.

The Trust Wallet team is constantly adding new cryptocurrencies so there is a huge chance that users will spot their favorites. We listed some of the major coins/tokens below:

  • Bitcoin
  • Ethereum 
  • Bitcoin Cash
  • Tron
  • Litecoin
  • Dogecoin
  • Cosmos
  • Ethereum Classic
  • Binance Coin

Tokens: 

  • ERC20 Tokens
  • TRC10 and TRC20 Tokens
  • BEP2 Tokens

Trust Wallet for Android & iOS

The user experience on Trust Wallets mobile app is straightforward. Everything is easily accessible from the app’s main screen.

It has a natural flow, with three stagnant mean options; containing a wallet, browser, Dex, and settings. This simplicity is a welcome addition to a platform bursting with features. 

Moving from features like swap or exchange is a breeze. The Trust Wallet app does a really good job at clearly highlighting what actions to perform.

We recently discovered that there is a dark mode, which is available for both iOS and Android. Dark mode makes the app interface really pop when navigating. 

It would be nice to have a live web version of the Trust wallet platform for increased accessibility across multiple platforms. Currently, the wallet isn’t available for PC and Mac computers.

Overall Trust Wallet did earn great ratings on both mobile operating systems. On iOS it received 13.5k reviews earning a rating of 4.8. Android received over 125k reviews earning a rating of 4.5. 

Customer Reviews & Support

Besides Trust Wallets help center we did find a dedicated area for users to submit a request.

The help center has guides and FAQs to answer common questions users may have. The guides are thoroughly written out and we noticed users in the community do engage to help others. 

Trust Wallet is super active on social media like Twitter and Telegram. Here users can find out new features being released on the platform. They have a very active community of passionate users who are always engaging with each other.  

Customer Reviews – Reviews on Trust Wallet were mixed. The reviews we sourced complained about deposits not showing up and Trust Wallets lack of customer support.

Other reviews took issue with transfer fees which seemed relatively high. Just like some of the other users on the platform we had issues with DApps constantly disconnecting. 

Note: Trust Wallet does not charge a fee but there are network fees paid off to minors for facilitating the transaction. This is common as it is mandated by the blockchain. 

Trust Wallet Pros & Cons

Pros 

  • Larger number of cryptocurrencies supported
  • A convenient way to store crypto holdings 
  • Robust features
  • Non-Custodial – Retain user control of private keys 
  • Multiple ways to earn passive income on Crypto
  • Can interact with DApps    

Cons 

  • No PC or Mac Web version 
  • Concerns with overall security when compared to hardware wallets
  • Lacking in customer support 
  • No 2-factor authentication

Trust Wallet Review: Is Your It Next Wallet? 

Trust Wallet Homepage Screenshot

Trust Wallet is a great option for storing cryptocurrency without the use of any hardware. Users will like the low-cost savings as the mobile app is free and less complex to set up.

Trust Wallet is jammed packed with features and integrates with Binance decentralized exchange. So, users have a single crypto hub to perform all the necessary functions with their digital assets.

Furthermore, Trust seems to support every known cryptocurrency known to man. Which means you’ll never miss out on an up and coming coin.

Trust doesn’t own private keys the user does. This is a great feature as the wallet’s convenience doesn’t sacrifice user’s ownership of crypto holdings. 

Like any wallet that has some connection to the online world. There are concerns about overall security. 

There is also an increased risk of losing digital currency through phone theft so keep this in mind. They may add this feature in the future but wish there was a straightforward way to exchange crypto to fiat.

With everything mentioned in this review, Trust team has provided a wallet that’s super robust and secure. 

If you’re not open to using a hardware wallet to store your digital assets Trust wallet is another option to consider.