Your investment is just as secure as the wallet in which you keep it, according to an unspoken cryptocurrency rule. With hackers raking in billions of dollars from gullible or unsuspecting investors every year, there's no need to settle for something less than the best crypto wallet.
There are far too many cryptocurrency storage options available to determine which is the best. We may, however, take them for a ride to see if they follow the preacher's security advice.
Trust Wallet
Trust Wallet is a mobile wallet for digital assets that is decentralised. It comes with a built-in Web3 browser and links to Ethereum-based decentralised applications (DApps).
The wallet currently supports over 160 cryptocurrencies and digital assets as of this writing. Tokens from a variety of platforms and issuers can be stored and used in staking operations.
The Trust Wallet app is free to download and works on Android (5.0 and up) and iOS devices (10 and up).
Viktor Radchenko, a US-based Ukrainian software developer with extensive experience developing Ethereum apps, is the founder of Trust Wallet. His initial plan was to make a mobile wallet that only supported ERC-20 tokens. However, as time went by, the project expanded to include coins from other blockchains, such as Bitcoin.
Radchenko began work on the wallet in 2017, and his success has been noted. Binance bought the project and its parent company, Six Days LLC, less than a year later.
Radchenko's decision to make the code fully open-source would be appreciated by more tech-savvy users. They'll be able to see inside the intricate structures that keep it running.
Trust Wallet has been audited by security firm Stateful, and it has an ongoing partnership with Kyber Network, which allows users to purchase coins via the platform's decentralised exchange.
Features of the Trust Wallet
Because of its partnership with Binance, Trust Wallet has an advantage that few other mobile wallets have. The wallet's prestige and legitimacy are enhanced by using the industry's most successful crypto exchange. It's one of the reasons why Trust Wallet already has over 5 million users.
Security
Trust Wallet is a non-custodial wallet, which means it doesn't keep user data and doesn't require you to go through a Know Your Customer (KYC) verification process when you create an account.
You do not have to save your private key on the company's servers, unlike other mobile wallets. Instead, you can save the private key to your computer directly.
To increase protection, you can use the app's fingerprint scanning and pin code features. Two-factor authentication isn't available in the wallet (2FA). It does, however, provide a handy backup function in the form of a 12-word recovery expression, which you must keep safe and never share with someone else.
Fee
Downloading and installing Trust Wallet on your phone is completely free. You will only be charged fees until you begin using it for purchases, which will vary depending on the situation.
Interface
Users of Trust Wallet benefit from a simple and intuitive user interface that is ridiculously simple to use. In just a few hours of use, even novice cryptocurrency investors can master it.
Customer Service
Most mobile crypto wallets have a simple chat feature that should help you get out of even the most difficult situations, particularly if you only have a limited amount of time to solve a problem.
Trust Wallet does not have a live chat feature. The app directs you to a troubleshooting guide and a FAQ section if you need assistance with a query. If you can't find a solution to your problem there, you can submit a help ticket and wait for a response from one of their customer service representatives.
Staking
Staking You can use your digital assets as crypto deposits to validate new blocks on blockchains that support the Proof-of-Stake (PoS) algorithm by staking.
Trust Wallet allows you to automatically win a portion of the block rewards by locking any or all of your properties for staking purposes.
DApps
The DApp Browser Trust Wallet is a Web3 browser that can communicate with any decentralised programme (DApp).
This feature allows Trust Wallet to join the Marketplace and provide its users with a long list of DApps that they can use on their phones for free. Gaming platforms and DeFi protocols are examples of such implementations.
Bottomline
If you're searching for a safe mobile wallet, this wallet should definitely be on your list. Binance backs this software storage solution, which has an increasing list of supported properties. As a result, no one should be surprised if the 5 million users continue to grow.
Trust Wallet aspires to go beyond the traditional concept of a crypto wallet. Staking and a DApp browser are two of the wallet's most recent updates, indicating that it wants to be an all-in-one platform for cryptocurrency investors.
If we had to pick flaws with Trust Wallet, we'd probably point out the slow customer service and the lack of a Two-Factor Authentication option. Aside from that, Trust Wallet appears to be a good choice for storing your digital properties. You can also use the wallet's creative staking feature to increase the value of your assets without trading or hodling.
I've been using Trust Wallet for a while now and I've grown to like it, and even linked my noise.cash wallet with it. I love the fact that its very easy to use and send to another wallet, most of it all, its a beautiful wallet address app. Thumbs up!