Trust Wallet Review | Crypto wallet pros and cons | finder UK

Trust Wallet review

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

  • You retain control of your private keys
  • Allows staking and earning returns on held crypto assets
  • Stores a wide range of cryptocurrencies
  • Not as secure as a hardware wallet
  • Only exists on mobile, no browser or computer access
  • No 2FA or whitelisting for access

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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 a wide range of cryptocurrencies.

What is Trust Wallet?

Trust Wallet is a mobile wallet app that allows you to send, receive and store a wide range of cryptocurrencies. 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 it includes a backup facility for simple recovery. Other features include a built-in decentralised exchange through a partnership with Kyber Network as well as a Web3 browser that allows you to interact with decentralised applications directly from the Trust Wallet app.

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.

How much does it cost?

Trust Wallet is free to download from Google Play and Apple’s App Store. It is free to use and store your cryptocurrencies, but you may need to pay network fees when transferring crypto on and off of Trust Wallet. These fees are not charged by Trust Wallet, but are instead mandated by the blockchain network you’re using.

Which currencies can I store?

Trust Wallet supports all major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH) and approximately 160,000 more. Because Trust Wallet supports all ERC20 and ERC223 tokens, the list is quite long.

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 the transaction details, including gas price.
  6. Tap “Send”.

Can Trust Wallet be trusted?

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 set up 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, and 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 using a secret key.

Where can I get Trust Wallet?

Trust Wallet is offered at both major app stores:

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

Bottom line

Before using Trust Wallet, compare its features with those offered by a range of other mobile wallets. If you decide that Trust Wallet is the right wallet for storing your crypto tokens, visit the official Trust Wallet page to download it today. There you’ll find links to the Apple App Store and Google Play where you can download the app and create a wallet.

FAQs

Compare cryptocurrency wallets

Compare crypto wallets on price, supported currencies, wallet type and more to find the right fit for your storage needs.

Name Product Wallet Type Supported Cryptocurrencies Price (USD) Disclaimer
Ledger Nano X Wallet
Hardware
BTC, ETH, XRP, BCH, ADA, LTC, BNB, EOS, XTZ, XLM & 1,350+ more
$119
The Ledger Nano X comes with added Bluetooth functionality, more memory and a higher quality screen than its big brother, the Nano S.
Ledger Nano S Wallet
Hardware
BTC, XRP, ETH, BCH, EOS, XLM, LTC, TRX, ADA, MIOTA & 1,330+ more
$59
Securely store some of the world's leading cryptocurrencies on the Ledger Nano S hardware wallet.
TREZOR One Wallet
Hardware
BTC, ETH, XRP, BCH, LTC, LINK, XLM, HT, USDC, DASH & 1280+ more
$55
TREZOR hardware wallet is a secure way to keep your cryptocurrency safe from hackers and malware.
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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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