The post Trust Wallet Review: Should You Trust This Ethereum Wallet? appeared first on Coindoo – Crypto News and Reviews.
Since mobile devices are so prevalent in our daily lives, it’s no wonder that they’re also a very indispensable tool for any serious crypto holder, trader, or investor. Mobile wallets are known for their very user-friendly, and most times stylish, interface, easy accessibility, a plethora of features and overall decent security.
If you’re dealing with Ethereum on a daily basis then a good Ethereum-compatible mobile wallet is a must and, fortunately, there are numerous good options on the market. Available for both Android and iOS, Trust Wallet is currently one of the best Ethereum mobile wallets out there and should definitely be included in your list of potential candidates.
What is Trust Wallet?
Trust Wallet is a simplistic and efficient mobile wallet app that allows you to store, receive, and send cryptocurrency tokens on the Ethereum blockchain. It can be downloaded for free directly from the Google Play Store as well as Apple’s App Store.
Which cryptocurrencies can I store on Trust Wallet?
Trust Wallet supports an extensive range of ERC-20 and ERC-223 tokens such as Ether (ETH), Ethereum Classic (ETC), OmiseGO (OMG), Qtum (QTUM), Binance Coin (BNB), Maker(MKR), Augur (REP), VeChain (VEN), ICON (ICX), Aeternity (AE), 0x (ZRX), Zilliqa (ZIL) and many others.
How secure is Trust Wallet?
It’s often said that a wallet is as good as its security is, and that’s totally true. As expected from one the best Ethereum wallets out there, Trust Wallet boasts various security features to help you protect your crypto holdings.
Trust Wallet does not store your private keys on any server but, instead, it stores them locally on your device (which means you are in control of your funds). Another security feature is represented by the fact that Trust does not require you to add any personal details.
The wallet also provides its users with the possibility to restore their funds. During the setup process, you are provided with the option to back up your Trust Wallet and encrypt all the information for when it’s needed. Additionally, you can also add different biometric marker authentication systems to your wallet, including PIN and fingerprint scanning.
Lastly, Trust Wallet is open source, meaning that anyone (you included) can review the code online. It also means that the codebase can be audited by the community or security experts.
Pros and cons
One of the biggest advantages of Trust Wallet is the support for almost all types of ERC-20 tokens. Security is another big plus, the wallet ensuring that you always remain in control of your private keysand that your anonymity is fully protected. The fact that it’s available for both iOS and Android also contributes to its popularity and all-round accessibility as an app.
The wallet is clearly designed specifically for the Ethereum ecosystem, which means that users can’t store tokens from other platforms. Since mobile devices are almost always connected to the Internet, it’s clearly not as secure as a hardware wallet.
Should you Trust this Wallet?
Not only does Trust Wallet boast some of the best security features, but the wallet has mostly positive reviews on both the Google Play Store and on the App Store. This means that the community is fairly happy with what it provides, meaning you should find it satisfactory as well.
Trust Wallet was created by a company called Six Days, LLC. The company was founded by Viktor Radchenko, the same person that co-founded Trucker Path (a mobile app that offered access to a social network for truck drivers).
Taking everything into account, it’s easy to see why Trust Wallet is so popular among Ethereum investors. The wallet offers various advanced features, top-grade security, local private key storage on your device, and integration with some of the best decentralized exchanges.