Trust Wallet: Is it really worth the trust? A deep overview.

Cryptocurrencies have surged in popularity over the years, giving rise to the need for reliable and easy-to-use wallets. Trust Wallet stands out in this crowded space. This article provides an overview of Trust Wallet, its history, reliability, and what sets it apart from other crypto wallets.


Trust Wallet was launched in October 2017 by founder Viktor Radchenko as an open-source, decentralized wallet. Its mission was to simplify the process of storing cryptocurrencies for everyday users while retaining the robust security features necessary for a crypto wallet.

Binance, one of the world’s leading cryptocurrency exchanges, saw the potential of Trust Wallet and acquired it in July 2018. This acquisition not only bolstered the credibility of Trust Wallet but also facilitated its rapid growth and development, allowing it to support more cryptocurrencies and tokens.

Features and Reliability

Trust Wallet is a multi-currency wallet, supporting a plethora of cryptocurrencies and tokens. But what has made it a go-to choice for many are the following features:

1. Non-custodial: Trust Wallet gives users complete control over their private keys, ensuring that they remain in the user’s device and are not stored on any server.

2. User-friendly interface: Its design is intuitive, making it approachable for beginners while retaining the advanced features that seasoned crypto users demand.

3. Staking: Trust Wallet offers staking for supported cryptocurrencies, enabling users to earn rewards.

4. Security*: The wallet has implemented rigorous security measures. It is open-source, which means its code is publicly available for scrutiny, adding a layer of transparency to its operations.

Given these features and the backing of Binance, Trust Wallet has carved out a reputation for reliability. However, as with any crypto tool, users should be cautious, ensure the app is updated regularly, and always keep backups of their recovery phrases.

How is Trust Wallet Different from Other Wallets?

1. Comprehensive Support for Tokens: Trust Wallet supports Ethereum and all ERC-20, ERC-223, and ERC-721 tokens, making it one of the most versatile wallets in terms of token support.

2. Decentralized Trading: The wallet integrates with Binance DEX and Kyber Network, allowing users to trade directly from the app, a feature not common in many other wallets.

3. Community-driven: The wallet’s open-source nature means that it is continuously being refined and upgraded by a global community of developers.

4. No Fees: Trust Wallet doesn’t charge fees, although network fees for transactions still apply.

5. In-built Web3 browser: This allows users to interact with decentralized applications (DApps) directly from the wallet, enhancing its utility.

Addressing security concerns – What disadvantages there might be?

Reliance on Mobile Devices: Trust Wallet primarily serves as a mobile wallet. While mobile wallets offer convenience, they are susceptible to threats that desktop wallets might better withstand, such as vulnerabilities in the mobile OS.

No Hardware Wallet Integration: Many crypto enthusiasts prefer hardware wallets because of their enhanced security. Trust Wallet does not currently integrate with popular hardware wallets like Ledger or Trezor.

Limited Support for Some Blockchains: Even though Trust Wallet supports many tokens and coins, there are still numerous blockchains not catered to. If you hold a diverse range of cryptocurrencies, this might pose a limitation.

Risk of Clones and Imitations: Due to its popularity, several malicious clones of the Trust Wallet app have appeared on app stores. If users are not careful, they might accidentally download a fake app, leading to potential loss of funds.

Other concerns

While Trust Wallet employs several layers of security, no wallet is entirely immune to threats. Here are some common concerns and how you can address them:

Phishing Attacks: Scammers may try to trick users into providing their recovery phrases or other sensitive information. It’s crucial never to share your recovery phrase with anyone, even if they claim to be from the Trust Wallet support team.

Software Vulnerabilities: Ensure that you always download Trust Wallet updates. These not only introduce new features but also patch any known vulnerabilities.

Lost Private Keys: One of the most significant risks in the crypto world is losing access to your funds by misplacing your private keys or recovery phrase. Trust Wallet is non-custodial, meaning they don’t store your private keys – you do. If you lose your recovery phrase, Trust Wallet, nor anyone else, can recover your funds for you.

Trust Wallet has grown significantly since its inception in 2017. Its blend of user-friendly features, robust security, and versatility sets it apart from many other wallets in the crypto ecosystem. While it has built a reputation for reliability, users should continue to exercise caution and follow best practices to keep their assets secure.