Trust Wallet Review 2024

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Trust Wallet is a secure and user-friendly cryptocurrency wallet that supports multiple cryptocurrencies, provides full control over private keys, and offers features like a built-in DApp browser and staking integration. It is available for mobile devices (iOS and Android) and as a browser extension, ensuring convenient access to your digital assets wherever you are.

Trust Wallet Review
Safety 7/10
Usability 9/10
Best for Multiple asset and privacy

Regardless of the solid security, exchanges often encounter breaching and hacking incidents. Unfortunately, even with strong passwords and two-way factor authentication, such circumstances often strike. However, they are avoidable.

It is wise to hold your cryptocurrency in a wallet that can keep it safe. There are two kinds of wallets, software and hardware.

Both have their pros and cons, but choosing one is essential so you can keep your holdings protected from the outside world. This article will review a pretty popular wallet in town, the Trust wallet. This is a software wallet that is convenient to use and operate.

But what is Trust wallet, and is Trust wallet safe? If you want to explore the answers to these questions in detail, dig into this Trust wallet review for a detailed and enjoyable read.

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Trust Crypto Wallet Profile

Name Trust Wallet

Website

trustwallet.com

Supported Crypto Assets

Total number of coins: 1M
List of top supported coins:
Bitcoin
Ethereum
Binance Coin
Litecoin
Ripple
Dogecoin
Solana
Polygon
Zcash
TRON

Web 3 Support

dApps, NFTs,Stablecoins

Ethereum tokens support

Yes

Web Wallet

Yes

Mobile App

Yes

Cold Storage

No

Private Key Storage

Yes. No one other than the user can access the wallet.

Linked Exchanges

Native DEX-Kyber Network

Fees

Free download

Customer Support Channels

Support@trustwallet.com
You can also access a self-help guide and support articles on the official website.

What is Trust Wallet?

Launched in 2017 by a software engineer, Viktor Radchenko, Trust wallet is designed for mobile cryptocurrency that easily supports more than 160 assets. Victor began creating Trust Wallet after he first heard about Bitcoin, but Ethereum encouraged him to explore the crypto world.

He began this project by first creating a tracking app for truckers and then gained enough confidence to try his hand at a digital wallet. This wallet was initially designed to carry ERC223 and ERC20 tokens, but now it can easily hold all kinds of cryptocurrencies.

One of the best qualities of the Trust Wallet is that it has an in-built Web3 browser that easily helps different traders to access all kinds of decentralized applications that are available on the Ethereum platform.

What’s more, this wallet has a direct link with a native decentralized exchange available on the Kyber Network, making it easy for users to purchase coins. It is pretty easy to download the Trust wallet app on your mobile devices through Google Play Store or Apple Store. Additionally, the wallet's software is pretty compatible with Android 5.0 and later devices, plus iOS 10.0 and its advanced devices.

Basic Functionality

Here are some standard features that you will find in the Trust wallet:

Easy to Use and Simple User Interface

As stated initially, it is pretty convenient to download Trust wallet on your mobile devices. Further, there are no subscription or initial download fees, making it accessible to a larger audience. Both these features have helped this platform earn a partnership with Binance and gain around 5 million users in a short duration.

Secure and Private

If you want to be a part of the cryptocurrency world, you will first have to ensure that the exchange or wallet you partner with is secure and private. Otherwise, the risk of theft and hacking can increase manifold.

Luckily, Trust wallet is regularly audited by a reputable organization and security company, Stateful. Since it is a software wallet, the chances of cyberattack are higher. However, with the help of consistent audits, it becomes easy to keep cybercrimes at bay.

What’s more, the wallet’s app follows some stringent security measures. For instance, once you have downloaded the wallet on your device, you are requested to incorporate your fingerprints and unique pin codes in the system so that no one can access your currency.

Further, every user gets their private key. Again, this measure makes sure that no one except you can get access to your holdings.

So, if you were wondering that is Trust wallet safe, its answer is simple, and that is a yes. However, the wallet doesn’t have a facility of two-factor authentication, making it less secure than most other wallets on the market.

Supports Many Cryptocurrencies

This is one of the best features that make the Trust wallet quite competitive. Multiple currencies allow you to buy and sell various coins and other digital assets of your choice. Moreover, you can also benefit from complete management and control over your cryptocurrency.

Allows Staking

This wallet allows users to stake various currencies such as Cosmos, TomoChain, Ethereum, VeChain, and Callisto. Many other cryptocurrencies are on the list too, and the wallet plans to add more pretty soon.

With staking, you can make full use of your coins through variable interest rates. You also receive an authentic certification of proof-of-stake, which helps you collect interest on all your digital assets. This facility allows you to earn through your coins without putting any effort from your side.

Decentralized App

With Trust wallet, you can easily connect with other businesses or vendors that might be interested in selling their services and products in exchange for your cryptocurrency. This facility is available due to the decentralized apps.

Support for Non-Fungible Tokens (NFTs)

One of the significant features that enhances Trust Wallet's utility is its broad support for Non-Fungible Tokens (NFTs). Recognizing the growing importance of NFTs in digital assets, Trust Wallet enables its users to manage and transact NFTs across multiple blockchain platforms. This includes prominent chains such as Ethereum and Binance Smart Chain, as well as emerging ones like Optimism, Solana, Tezos, Avalanche, xDai, Arbitrum, and Polygon.

This wide-ranging NFT support positions Trust Wallet as a versatile and flexible platform that adapts to the evolving needs of the crypto community. Users can comfortably manage their diverse NFT portfolios, whether they be digital art, collectables, virtual real estate, or other forms of unique digital assets, all within the secure and user-friendly interface of Trust Wallet.

Great Backup System

Many wallets fail to offer a solid backup to their clients; however, Trust wallet eliminates this problem. Trust wallet provides every user with a 12-word long recovery term that they can store easily when putting down their wallet address.

Every user gets a unique phrase, and if you are unable to access your wallet, you can use this term to gain access. Therefore, the customer support at Trust wallet urges their clients to write down this term somewhere safe as soon as they get it.

In-built Charts

Interestingly, Trust wallet also provides its users with the facility of in-built charts that they can access to understand the pricing fluctuations of different currencies. This feature saves the time wasted on closing the wallet’s app and then exploring other websites for this task.

Supported Coins

Here are some of the coins that the Trust wallet supports. You can get the entire list from the official website. The wallet keeps more than 1M digital assets, and that’s quite an achievement.

Bitcoin

Ethereum

Zcash

Smart chain

Tezos

Filecoin

Elrond

Dash

Cosmos

Nano

Fantom

GoChain

TomoChain

Osmosis

Pros and Cons

Like any other wallet, the Trust wallet also has pros and cons. If you want to use this digital innovation correctly, you need to have a clear idea of its downsides and positives before you download the app on your smartphone.

👍 Trust Wallet Pros

This wallet is free to download, making it accessible for many users.

Trust wallet has a simple user interface, allowing even beginners to use it easily.

This digital innovation supports multiple assets and coins and benefits thousands of traders worldwide.

The security and privacy policies are firm, reducing the chances of crime attacks by a significant percentage.

This wallet has a very robust backup system, thanks to the 12-word phrase provided when setting the address.

The built-in charts help traders explore price fluctuations without leaving the app.

Trust wallet is available for both iOS and Android users.

👎 Trust Wallet Cons

Unfortunately, Trust wallet doesn’t have a facility for two-factor authentication.

Since this is a software wallet, it isn’t as secure as a hardware wallet and is more prone to hacking.

The wallet doesn’t offer desktop support as it is solely built for mobile users.

Trust Wallet Fees

As stated earlier, Trust Wallet doesn’t charge any fees. So you don’t have to pay anything for downloading, setting, or even using this wallet.

Furthermore, there are no subscription charges, unlike other similar platforms. The only fee you might have to pay is the gas fee required to process different transactions on this app. This fee is relatively minimal and is often paid to miners or proof-of-stake chains responsible for looking after the app.

Is Trust Wallet Safe?

We have briefly discussed this point above, but let’s explore it again in this section. The Trust wallet is the software rather than the hardware, making it easy to download and install. Unfortunately, however, this property also makes it more vulnerable to cyber-attacks.

But fortunately, Trust wallet follows many strict security and privacy policies that enable its users to trust this digital innovation with their assets completely. Here are some features that ensure excellent safety.

Private Key Storage

All the private keys are stored in custodial wallets, meaning no one other than the user has access to them. This facility provides strong protection against theft and, at the same time, builds confidence in the user’s mind for this platform. Therefore, make sure you store your keys as soon as you have stopped accessing your holdings and don’t share any piece of information regarding the storage.

Fingerprint Scanning and Pin Codes

These two measures add an extra security layer. So, ensure you activate and update these features as soon as you sign up on your wallet and choose a pin code that is both unique and robust.

Trust Wallet Doesn’t Store Keys On Its Server

One of the best security features of the Trust wallet is that it doesn’t store the keys of its users on its server. All customers should store their unique keys on their devices and be responsible for their holdings.

Does Trust Support Cold Storage

Unfortunately, Trust wallet doesn’t support cold storage. That’s a significant downside of this platform, as hardware wallets or cold storage can safely hold a large amount of crypto at a time.

Has Trust Had Any Security Compromise

There have never been any incidents of Trust wallet hack before. However, the chances are always there, and it is imperative to look for signs that might make this possible.

There are many ways to evaluate whether your wallet has been hacked or not. For instance, if you witness a transaction you didn’t make, know that someone else has control over your wallet.

Similarly, if you have linked your debit or credit card with the wallet, the hacker might make some unauthorized transactions that you can immediately spot. Hacking is a significant risk associated with crypto wallets, but there are ways to mitigate it.

Avoid storing your currency on any exchange.

Ensure that your 12-word recovery term is safe with you, and avoid telling it to anyone.

If your wallet gives you the facility of two-factor authentication, use it.

Trust Features Review

Here is a review of the most prominent features of the Trust wallet.

Portfolio Page

The portfolio page of the Trust wallet is user-friendly and pretty straightforward. You can access all the wallet’s essential functions without exploring the entire app or website. Plus, the portfolio page shares all the details of the assets available in the Trust wallet, ensuring that you can trade those that you prefer.

Exchange Page

The exchange page of the Trust wallet is also created, keeping user-friendliness in mind. All the information needed is provided directly to the user, and there are two swap options given, making the entire currency exchange process convenient.

How to Download and Set Up a Trust Wallet?

Are you interested in being a part of the Trust wallet family? In that case, don’t wait any further and follow the steps below to download and set the wallet on your mobile devices.

  • Visit www.trustwallet.com and follow the link provided for download.

  • Then visit the store and install the app on your mobile phone.

  • Once done, open the wallet and click on “Create a new wallet.”

  • You will receive a unique recovery phrase that you should immediately store safely in the next step.

  • Create a backup for your wallet by verifying the 12-word term.

  • Once done, share your wallet address and all the information required.

  • That’s it! After this process, you can use your wallet as you like and handle as many digital assets as you want.

Setting Up Your Wallet

The steps below can help you set up your wallet within minutes:

  • Select your preferred Fiat currency as this step will help you see the rate between your currency and the different currencies available on the platform.

  • Activate all helpful notifications to know all the transactions you receive in your wallet.

  • Choose a specific speed for all your transactions. This could be slow, regular, or fast, depending on how you want to use your wallet.

  • Lock your account for added security. The App Lock option will help you achieve that.

  • Add coins to your account. Tick the currencies you want to include using the + icon on your screen.

  • Add the wallet address you may want to access when receiving crypto in your wallet.

How To Use Trust Wallet

Once your wallet is set correctly, you can use it for many different reasons. For instance, you can send crypto from it or exchange your currency for another. Below we have prepared brief guides on how you can achieve all that.

How Do I Send Crypto Out of Trust

If you want to send crypto out of your Trust wallet to someone else, here are the steps you can follow:

  • Before you plan to send crypto from your Trust wallet, make sure that the recipient also has an account.

  • Open your bitcoin wallet and click on the Send tab if they do.

  • Your recipient will receive a notification and ask them to click on Receive.

  • This step will help you access their address. You can also get the address through any messaging app you prefer.

  • Once done, type in the amount of crypto you want to send out.

  • Click next and check all the details of the transaction before confirming it.

Trust Wallet

Trust Wallet

How Do I Exchange Crypto in Trust

With the steps below, you can swap your crypto in your Trust wallet:

  • Click directly on the Swap tab.

  • Or you can also click on the token’s window by clicking on swap and then tapping on trade.

  • Click on approve before proceeding.

  • Then tap on confirm to continue.

  • Enter the amount and currencies you want to swap.

  • You will be provided with the exchange ratio and the amount you will receive.

  • Tap swap and then confirm.

  • Check the details of your transaction.

  • Confirm, and you are done!

How to swap your crypto in your Trust wallet

How to swap your crypto in your Trust wallet

How to Buy and Sell Crypto in Trust Wallet

Here are the steps you can take to buy crypto using the wallet.

Open the wallet and choose the crypto you want to buy.

You will find a buy button on a corner; tap on it.

Indicate the amount of crypto you wish to purchase and get the number of coins you will receive.

Click next and provide any data required for user verification.

Complete the purchase and then wait for any confirmation.

On the other hand, if you want to sell crypto such as Bitcoin, here are your options.

Convert Bitcoin through exchanges: This is an easy and accessible method. Most exchanges have cash-out options that you can benefit from.

Convert Bitcoin through peer to peer: If you know someone willing to buy your crypto, you can send them your currency and earn money in your bank account.

Trust Wallet

Trust Wallet

Trust Wallet Platforms

Here are the platforms that support Trust wallet.

Mobile

Trust wallet is available for both Android and iOS users. In addition, you can download the app through both the Apple store and Google Play store.

Web

Trust wallet also enables its users to access Web 3.0 through the DApp Browser and the function designed as Wallet Connection. These features allow anyone to get access to decentralized applications.

How to Withdraw From Trust Wallet

Withdrawing your cryptocurrency from Trust Wallet is a simple and straightforward process. Here's a step-by-step guide:

1

Open your Trust Wallet: First, you need to open the Trust Wallet application on your device.

2

Choose the Cryptocurrency: After opening the app, your asset list will appear. Here, select the cryptocurrency that you want to withdraw.

3

Initiate a Transfer: An overview screen for that asset will appear upon selecting the specific cryptocurrency. On this screen, click on the 'Send' button.

4

Enter the Recipient's Address: In the 'Recipient Address' field, paste the external wallet address where you wish to transfer your cryptocurrency. Double-check this address, as transactions cannot be reversed once completed.

5

Specify the Amount: Next, input the number of tokens or the amount of cryptocurrency you want to withdraw.

6

Review the Transaction: Review all the details carefully before confirming the transaction. Check the recipient's address, the amount of cryptocurrency, and any network fees that may apply.

7

Confirm the Withdrawal: After reviewing, if all the details are correct, confirm the withdrawal. Your Trust Wallet will then process the transaction.

8

Wait for Confirmation: Lastly, wait for confirmation that your transaction has been successfully processed. This may take a few minutes, depending on the congestion on the specific blockchain network. You can usually track the progress of your transaction by clicking on it within your Trust Wallet transaction history.

Always ensure the safety of your transactions by double-checking all details, especially the recipient's address, before confirming a withdrawal.

Is the Trust Wallet Suitable for Beginners?

Absolutely, Trust Wallet is a highly suitable platform for beginners stepping into the world of cryptocurrencies. Here's why:

Easy Setup and User Interface: Trust Wallet's simplistic setup process ensures beginners can smoothly transition into the app. Every step is straightforward and quick, from downloading it from the Google Play Store or Apple Store to setting up an account. Additionally, the user interface is clean, intuitive, and well-organized, which simplifies the process of conducting transactions, viewing portfolio balances, and exploring other features.

Educational Resources: Trust Wallet goes beyond being just a digital wallet. It aims to educate its users about the crypto world, providing an array of educational resources, guides, and articles. These help beginners understand the technicalities of blockchain, cryptocurrency trading, staking, and other concepts related to digital assets.

Built-in Charts and Market Analysis: For those new to crypto trading, understanding market dynamics is crucial. Trust Wallet's built-in charts and price tracking tools help beginners monitor price fluctuations of different cryptocurrencies directly within the app. This integration of market data within the wallet removes the need for beginners to use complex external trading platforms or market analysis tools.

Robust Security and Privacy Features: Security is often a major concern for beginners dealing with digital assets. Trust Wallet has robust security measures in place, including fingerprint scanning, unique pin codes, and secure private key storage. These features build confidence among beginners, ensuring their assets remain secure.

Multi-currency Support: One of the main advantages of Trust Wallet is its support for a vast range of cryptocurrencies. This feature allows beginners to diversify their portfolios without needing to navigate multiple wallets, making it simpler to manage their investments.

Customer Support: Trust Wallet prides itself on its supportive customer service team. Any beginner facing issues or needing assistance can easily reach out to their support, further simplifying the crypto journey for newcomers.

Integrated DApps and NFTs: As the crypto space evolves, so does Trust Wallet. It supports decentralized applications (DApps) and Non-Fungible Tokens (NFTs), allowing beginners to explore these emerging trends within the crypto space directly from the app.

Where Can I Trade Crypto?

Open an account
Your capital is at risk.

If you want to trade crypto, Coinbase is an excellent and safe platform that can help you buy and sell cryptocurrencies safely. The exchange is pretty convenient to use even by beginners, and it supports a large number of cryptocurrencies.

What’s more, Coinbase also helps you earn interest on your balances and simultaneously earn currency through the facility of Coinbase Earn. Also, if you want to benefit from low fees, you can easily shift to Coinbase Pro and avail of more features.

FAQs

Is Trust wallet suitable for beginners?

Yes, this wallet is far more secure than a centralized exchange and relatively easy to use.

Can hackers hack my Trust wallet?

No, they can’t as long as you keep the security tight at all times. For instance, keep your pin code safe and don’t share your 12-word phrase with anyone.

Is it possible to make money with a Trust wallet?

Yes, you can have complete control over your assets and make earnings through staking. The good thing is that the wallet doesn’t charge anything for your earnings.

Is this wallet great for trading?

Yes, it is. Trust wallet provides an opportunity to store multiple coins that you can exchange later.

Team that worked on the article

Alamin Morshed
Contributor

Alamin Morshed is a contributor at Traders Union. He specializes in writing articles for businesses who want to improve their Google search rankings to compete with their competition.

Over the past four years, Alamin has been working independently and through online employment platforms such as Upwork and Fiverr, and also contributing to some reputable blogs. His goal is to balance informative content and provide an entertaining read to his readers.

His motto is: I can dream or I can do—I choose action.

Dr. BJ Johnson
Dr. BJ Johnson
Developmental English Editor

Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.

The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.

Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.

Mirjan Hipolito
Cryptocurrency and stock expert

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.