Trust Wallet – October 2019 Review

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Should you trust this easy-to-use mobile wallet with your cryptocurrency?

Choosing the right cryptocurrency wallet is essential to ensure the safety and accessibility of your digital assets. Mobile wallets are designed to combine convenience and ease of use with fast access to your crypto, and Trust Wallet allows you to store Ether (ETH), ERC20 and ERC223 tokens.

Details

Product Name Trust Wallet
Wallet Type Mobile
Supported Cryptocurrencies ETH, ETC, ERC20, ERC223

Pros

  • Store any token on the Ethereum network
  • Simple and convenient to use
  • You retain control of your private keys
  • Also features a decentralised exchange and the ability to interact with dapps
  • Available for both iOS and Android devices

Cons

  • Doesn’t store bitcoin and other currencies not on the Ethereum network
  • Will never be as secure as a hardware wallet
  • No two-factor authentication
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is Trust Wallet?

Trust Wallet is a mobile wallet app that allows you to send, receive and store cryptocurrency tokens on the Ethereum blockchain. Designed with a focus on simplicity, this open-source wallet aims to provide a platform that’s easy and straightforward to set up and use.

Trust Wallet allows users to store private keys on their own device, an important security feature, and includes a backup facility for simple recovery. Other features include a built-in decentralized exchange through a partnership with Kyber Network, as well as a Web3 browser that allows you to interact with decentralized applications directly from the Trust Wallet app.

Android users can also use Trust Wallet to buy ETH through Coinbase, Shapeshift or Changelly.

Compatible with:

Android 5.0 and up, iOS 10.0 or later.

How much does it cost?

Trust Wallet is free to download from Google Play and Apple’s App Store.

Which currencies can I store?

Trust Wallet supports all Ethereum ERC20 and ERC223 tokens. This means you can store an extensive range of currencies using this mobile app, such as:

  • Ether (ETH)
  • Ethereum Classic (ETC)
  • OmiseGO (OMG)
  • Qtum (QTUM)
  • Populous (PPT)
  • Binance Coin (BNB)
  • Status (SNT)
  • Maker (MKR)
  • Augur (REP)
  • VeChain (VEN)
  • ICON (ICX)
  • Waltonchain (WTC)
  • Aeternity (AE)
  • Bytom (BTM)
  • 0x (ZRX)
  • RChain (RHOC)
  • Golem (GNT)
  • Mixin (XIN)
  • Nebulas (NAS)
  • Aion (AION)
  • IOStoken (IOST)
  • DigixDAO (DGD)
  • Loopring (LRC)
  • Zilliqa (ZIL)

How do I add currency to my wallet?

To add currency to Trust Wallet, follow these steps:

  1. Log into your wallet.
  2. Tap “Receive”.
  3. Scan the QR code or copy your wallet address.
  4. Use this address to transfer funds into your wallet.
  5. Tap the “Transactions” tab to review the transaction history for your wallet and confirm that the funds have arrived.

How do I make payments with my Trust Wallet?

If you want to make a payment from Trust Wallet, complete the following steps:

  1. Log into your wallet.
  2. Tap the “Send button”.
  3. Paste your recipient’s wallet address in the field supplied or scan the relevant QR code.
  4. Specify the amount you want to send and tap “Next”.
  5. Review transaction details, including gas price.
  6. Tap “Send”.

How secure is Trust Wallet?

Trust Wallet offers a number of security features to help protect your crypto holdings against hacking and theft. These features include:

  • Private key. You’re not required to store your private key on Trust Wallet servers but instead get to store the key locally on your device.
  • Anonymity. You can download, install and setup Trust Wallet without having to provide any personal details. Trust Wallet also promises to never store any of your private data.
  • Open source. You can review Trust Wallet’s code online, while the app has also been audited by security experts Stateful.
  • Backup facility. By backing up your Trust Wallet during the setup process, you can restore your wallet from an encrypted file in less than 30 seconds.

Where can I get Trust Wallet?

  • Android app: Google Play
  • iOS app: Apple App Store

Pros and cons

Pros
  • Store any token on the Ethereum network
  • Simple and convenient to use
  • You retain control of your private keys
  • Also features a decentralized exchange and the ability to interact with dapps
  • Available for both iOS and Android devices
Cons

  • Doesn’t store bitcoin and other currencies not on the Ethereum network
  • Will never be as secure as a hardware wallet
  • No two-factor authentication

FAQs

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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