Trust Wallet Review: Key Features in 2024

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Ramsha Naushad
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In this 2024 Trust Wallet review, I will share with you everything you need to know about this crypto wallet. 

I'll delve into its features, and discuss Trust Wallet fees, and staking options. 

By the end of this comprehensive review, you'll know what is best for you and is Trust Wallet safe or not. 

Disclaimer: The information provided on this website is for informational purposes only and should not be considered as financial, investment, or legal advice. Cryptocurrency investments are volatile and high-risk in nature. Consult with a qualified financial advisor and/or tax professional before making any investment decisions. We are not responsible for any loss incurred due to the use of information on this website. Do your own research and exercise caution. Don’t invest unless you’re prepared to lose all the money you invest.
 

 

Why Trust Us

Embark on a journey through Trust Wallet with confidence, guided by CryptoManiaks' thorough review. Our dedicated team analyzes Trust Wallet's features, security measures, user experience, and more, providing transparency and precision in our insights.

Benefit from practical perspectives gained as active Trust Wallet users, offering nuanced insights into the strengths and considerations of the platform. Rely on CryptoManiaks as your go-to source for an unbiased Trust Wallet review. 
 

Key Takeaways

 

  • Trust Wallet accommodates over 9 million assets, covering a diverse range of cryptocurrencies
  • As a non-custodial wallet, Trust Wallet provides users with full control over their private keys
  • Users can engage in staking activities, earning rewards on supported cryptocurrencies within the Trust Wallet
  • Trust Wallet supports third-party buying and selling with more than 20 fiat currencies
  • The wallet is designed with simplicity in mind, catering to both beginners and experienced users

 

Pros and Cons of Trust Wallet

Consider the following benefits and drawbacks of Trust Wallet:
 

Pros and Cons of Trust Wallet
Pros Cons
Trust Wallet is a decentralized and non-custodial mobile wallet Users may face potential risks if they do not follow secure practices
The wallet supports a wide range of cryptocurrencies, including various ERC-20 tokens The wallet's user interface may have a learning curve for those new to cryptocurrency
Trust Wallet integrates with decentralized exchanges, enabling in-app token swaps Trust Wallet may not support as many cryptocurrencies as some centralized exchanges
Users can participate in decentralized finance (DeFi) activities directly from the wallet As a mobile wallet, Trust Wallet relies on the security features of the user's device
Trust Wallet allows users to stake certain cryptocurrencies for additional earning opportunities Customer support is typically community-based. Official support responses may vary
The wallet is compatible with major platforms, including iOS and Android devices  

 

Exploring Trust Wallet: Brief Overview 

Trust Wallet is a non-custodial mobile cryptocurrency wallet. It stands as a testament to the ever-evolving landscape of digital asset management. 

Owned by Binance, Trust Wallet offers a unique blend of security, and accessibility. It provides support for over 70 blockchains and access to over 4.5 million crypto assets. 

Non-custodial wallets do not rely on third parties to manage your holdings. Trust Wallet grants you full control over your crypto assets. Your private keys remain securely stored on your device. 

One of Trust Wallet's standout features is its support for multiple blockchains. Whether you're into Bitcoin, Ethereum, or Binance Smart Chain, Trust Wallet has you covered. Multi-chain compatibility enables you to manage various crypto assets within a single wallet. It streamlines the management process and reduces the need for many apps.

Navigating the crypto world can be daunting, especially for newcomers. Trust Wallet addresses this issue with its user-friendly interface. The app is designed with simplicity in mind. 

Moreover, Trust Wallet's integration with decentralized applications (DApps) opens up exciting possibilities. You can participate in the world of decentralized finance, gaming, and more. 

Let’s dive in!
 

Trust Wallet: Background Information

Trust Wallet was founded by Viktor Radchenko in November 2017. Its headquarters is located in California. It was acquired by Binance in July 2018. Trust Wallet is a cryptocurrency wallet that doesn't cost you a dime. It's absolutely free to download and use. 

Trust Wallet itself doesn't charge any fees, you might encounter something called "transaction fees." These fees are like the cost of sending a letter but in the world of cryptocurrencies. 

They're not set by Trust Wallet but by the networks of the cryptocurrencies you're using. So, if you're sending Bitcoin, Ethereum, or any other digital coins, you may need to pay a small fee to the network.

Trust Wallet is all about making cryptocurrency simple and safe. But remember, keep it safe, and be cautious about transaction fees. 
 

Trust Wallet: Features and Services

Trust Wallet is a non-custodial wallet app and browser extension. It allows users to store their crypto and take full control of their private keys. Trust Wallet also supports staking and connects to decentralized applications. 
 

Layout and ease of use

Trust Wallet is designed with simplicity in mind. Its intuitive layout and organization make it a breeze to use. It's perfect for beginners. It's super easy to navigate, making sending and receiving crypto and exploring wallets a piece of cake.

Trust Wallet launched a browser extension on November 14, 2022, with support for Ethereum, Solana, and all EVM chains like BNB, Avalanche, and Polygon.
 

Supported wallets

Trust Wallet supports the import of various wallets. You can easily add and manage them within the app. You can even link your MetaMask wallet for Ethereum access.
 

Supported coins

Trust Wallet supports 70+ blockchain standards. It is compatible with the best altcoins, whether that’s Ethereum, Cardano, Solana, Tether, or Polygon.

In addition to Bitcoin, Trust Wallet also supports some of the best meme coins. It includes Pepe, Shiba Inu, Dogecoin, and FLOKI.
 

NFT Support

Trust Wallet isn't just for regular crypto; it also supports NFTs. You can manage and store Ethereum and BNB Chain NFTs, trade them on places like OpenSea, and more.
 

Trading Bots

For those looking to automate their trading, Trust Wallet plays well with trading bot platforms. Some of them are 3Commas, CryptoHopper, and Shrimpy. These bots offer advanced tools and portfolio management options.
 

Buying crypto with cards

Trust Wallet lets you link your debit or credit card to make buying crypto super easy. It's like turning your regular card into a crypto magic wand.
 

In-app DEX

Another exclusive feature is the wallet's native decentralized exchange (DEX). Explore the built-in DApp browser for interacting with decentralized applications and exploring NFT marketplaces. You can buy and sell assets within the app through two options—wap and exchange. Note that the exchange option is available for only BNB and BEP-2 token standards.  
 

User Experience

Write one short paragraph that serves as an introduction to the following headings.
 

Functionality

Trust Wallet offers a seamless and versatile user experience across various devices. You can access it using desktop, mobile, and browser-based applications. 

Users globally can access and manage their digital assets wherever they go. During the setup process, the security and importance of the recovery phrase are emphasized. Being a DEX wallet, it ensures users full control over their assets. Trust Wallet's functionality extends beyond mere storage. 

It supports a diverse range of digital assets, and staking options.  

Trust Wallet supports multiple proof-of-stake blockchain networks. It enables users to stake 12 cryptocurrencies. You can stake:

  • Binance Coin (BNB)
  • TRON (TRX)
  • Tezos (XTZ)
  • Cosmos (ATOM)
  • VeChain (VET), etc

 

Set up process

Getting started with Trust Wallet is a straightforward process. You can onboard easily with this non-custodial decentralized wallet. Use either the mobile app or web interface, and create a Trust Wallet account:
 

  • The initial setup involves downloading the app from the respective app store.
  • During this process, users are prompted to keep a secure backup of their recovery phrase. Trust Wallet offers this functionality completely free of charge.
  • You can either create a new wallet or import your old wallet using the 12-word seed phrase.  

 

Educational resources available

Trust Wallet recognizes the importance of educating its users. The platform provides educational resources, including tutorials, guides, and articles. 

The wallet has a community center on its website with all its educational resources. These resources help users understand and navigate different aspects of the platform. You can find:
 

  • Crypto basics: Guides and explainers to start from the crypto fundamentals
  • Transfer guides: Learn how to transfer valuable assets. Or import existing wallets from other crypto wallets into Trust Wallet
  • Blogs: Insights into Trust Wallet and its mission to increase cryptocurrency adoption. You can read about the brand, vision, and direction of the cryptocurrency space
  • FAQs: Comprehensive answers to common questions about cryptocurrency, blockchain, and Trust Wallet. You can have access to essential information
  • How to's: Self-help guides and articles that guide through the workings of Trust Waller. Understand from the basics to advanced features like staking, DEX, and DApps

 

Is Trust Wallet Safe?

Trust Wallet is a well-known crypto wallet, providing users with a user-friendly way to manage their digital assets. But is Trust Wallet safe? Let's explore the safety measures and considerations when using this wallet:
 

Hot wallet security

Trust Wallet is classified as a hot wallet, which means it's connected to the internet. Hot wallets are typically used for daily transactions and easy access to funds. It comes with certain security considerations. Trust Wallet, however, takes several measures to ensure the safety of users' assets.
 

Recovery phrases

One of the cornerstones of Trust Wallet's security is the use of recovery phrases. When you set up your Trust Wallet, you're given a 12-word recovery phrase. This phrase is not just a password; it's your key to accessing your funds in case your device is lost or stolen. 

It's of paramount importance that you store this recovery phrase. Trust Wallet emphasizes this during the setup process and encourages users to write it down and keep it safe. Without this phrase, you risk losing access to your assets.
 

Military-grade encryption

Trust Wallet prioritizes the security of your assets. It employs military-grade encryption to protect your private keys and data. This encryption ensures that your information remains confidential. 

It ensures that it's not susceptible to hacking or unauthorized access. Trust Wallet's commitment to top-notch security extends to the core of its infrastructure.
 

Binance affiliation

Trust Wallet enjoys a unique advantage when it comes to safety – it is the official cryptocurrency wallet of Binance. Binance is one of the largest and most reputable cryptocurrency exchanges globally. It is known for its stringent security measures. 

Trust Wallet's affiliation with Binance means that it upholds the same security standards as the exchange. This affiliation adds an extra layer of trust and reassurance for users.

While Trust Wallet is secure, the security of your assets depends on your practices. Here are a few additional safety considerations when using Trust Wallet:

  1. Avoid phishing scams: Be cautious of phishing scams. Trust Wallet will never ask for your recovery phrase or personal information through unsolicited messages or emails. Always verify the authenticity of any communication.
  2. Keep your device secure: Since Trust Wallet is a mobile application, it's crucial to keep your device secure. Use a secure lock screen, and enable biometric or PIN access to the app. I suggest you update your device's operating system often.
  3. Use trusted sources: Only download Trust Wallet from official sources. Use app stores to ensure you're getting the genuine app. Avoid third-party app stores or unverified downloads.
  4. Be cautious with public Wi-Fi: When using Trust Wallet on public Wi-Fi networks, exercise caution. Public networks can be less secure, so consider using a virtual private network (VPN) for added protection.

 

 

Trust Wallet Fees

 

Fee Category Fee Description
Storage Downloading Trust Wallet app and Chrome extension: Free
Transactions Storing cryptocurrencies in Trust Wallet: Free
Receiving cryptocurrencies or NFTs: Free
Standard network GAS fees (variable)
Token Swaps Swapping tokens within the wallet interface: Free
Exchange rate should be assessed by users
Debit/Credit Card Purchases Purchases using third-party processors (MoonPay and Simplex): Charges between 3.5% and 5%
No markup added by Trust Wallet on the fees
Incoming Transfers No fees
Outgoing Transfers Standard network GAS fees (variable)
In-Wallet Swaps No fees – users should check the exchange rate
Buying Crypto With Fiat Money Determined by third-party processors. Simplex charges between 3.5% and 5%

Fee categories

Trust Wallet, just like many other software wallets, is completely free to use. There's no need to pay for a subscription. If you're using Trust Wallet for regular in-app transactions or swapping crypto, you won't be charged any extra fees by the wallet. 

However, there is something called a "network fee" that you might need to pay. This fee can be adjusted or customized based on your preference.

Now, when it comes to buying crypto right within the Trust Wallet app, there's a small cost involved. Trust Wallet adds a 1% fee on top of the fees that third-party exchanges might charge you. 

But here's a cool twist – you have the power to make this fee disappear. How? By holding at least 100 Trust Wallet native tokens called $TWT. 

And these $TWT tokens can come in different forms, such as TWT BEP2, TWT BEP20, or TWT SPL. So, if you're holding those tokens, you won't have to pay that extra fee when buying cryptocurrencies.
 

Supported Countries

Trust Wallet boasts a global presence, offering its cryptocurrency trading and wallet services. The wallet's accessibility spans across all continents. You can find specific countries which are available on the website. 

Trust Wallet's parent company, Binance, holds an international footprint. It has offices in 11 cities around the world. Its corporate headquarters is in Ta'Xbiex, Malta. Trust Wallet's primary office is located at 156 2nd St in San Francisco. It collaborates with Binance's global network to extend its services in many countries.

This wide-reaching support and global accessibility highlight Trust Wallet's commitment to bring decentralization. 
 

Deposit and Withdrawal Methods

Trust Wallet provides users with a range of convenient deposit and withdrawal methods. Here are the key methods and features:

  1. Debit/credit card purchases: Trust Wallet supports the ability to link a debit or credit card to the wallet. It simplifies the process of acquiring digital assets directly through the wallet
  2. Incoming and outgoing transfers: Users can perform both transfers within the Trust Wallet. Incoming transfers allow for deposits from external sources. While outgoing transfers help send their digital assets to other wallets or exchanges
  3. In-wallet swaps: Trust Wallet offers in-wallet swap functionality. It makes it easy for you to exchange one crypto for another without leaving the wallet. This feature enhances flexibility and efficiency in managing various digital assets
  4. Buying crypto with fiat money: Trust Wallet is suitable for buying cryptocurrencies using fiat money. This accessibility simplifies the process of entering the world of digital assets. You can seamlessly convert traditional currency into cryptocurrencies within the wallet
  5. Withdrawing from Trust Wallet: The wallet supports the withdrawal of digital assets. You can transfer their cryptocurrencies from Trust Wallet to other wallets or exchanges. This feature ensures that users have full control over their assets

 

Customer Support and Feedback 

Trust Wallet provides various resources for users to seek assistance and resolve inquiries.

  1. Ticketing system: Trust Wallet employs a ticketing system. It enables users to submit specific inquiries and receive tailored support. This system streamlines the support process, ensuring that user concerns are addressed
  2. Email support: Users can also directly contact Trust Wallet's support team via email. This direct communication channel allows users to articulate their concerns. You can receive personalized assistance from the Trust Wallet support staff
  3. Self-help guides and articles: Trust Wallet offers self-help resources, including guides and articles. These comprehensive materials cover a range of topics related to crypto management, wallet usage, and troubleshooting. You can access these resources to find answers to common questions

 

Get in touch with Trust Wallet

If you ever need to reach out to Trust Wallet or want to stay updated with their latest news, here are some ways to get in touch:

  • Website: You can visit its website at Trust Wallet Website. It's like the home base for all things Trust Wallet
  • Twitter: For quick updates and fun crypto discussions, check out the official Twitter page @TrustWalletApp
  • LinkedIn: If you're more into the professional side of things, find Trust Wallet on LinkedIn
  • Telegram: Want to chat with fellow crypto enthusiasts and Trust Wallet experts? Join the Telegram group

 

Mobile app

Trust Wallet's mobile app is available for both iOS and Android devices. The app offers an intuitive and visually appealing interface. You can easily perform tasks like sending, receiving, and trading cryptocurrencies within the app.

  • Trust Wallet supports a diverse array of tokens and blockchain networks. This includes Bitcoin, Ethereum, Solana, Polygon, and Binance Smart Chain assets. The app supports 70 blockchains and 9M+ assets 
  • Android users can access decentralized applications (DApps) directly from within the app. For iOS users, due to Apple's guidelines, accessing DApps may require separate navigation.

 

Trust Wallet Review: Final Thoughts

Trust Wallet stands out as a reliable mobile wallet that caters to a wide range of crypto users. The ease of use, diverse features, and strong security measures make it an attractive choice. 

Trust Wallet's focus on non-custodial control, recovery phrases, and encryption adds an extra layer of security. 

Its unique features make it a versatile choice for crypto users. For example, it supports staking for 12+ coins, decentralized exchange, and NFT management. 

If you prioritize mobile access and value a user-friendly interface, Trust Wallet may be an ideal solution.

 

Frequently Asked Questions

How do I create a Trust Wallet account?

First, you will need to download the Trust Wallet app from the App Store or Google Play. Once you have downloaded the app, open it and tap on “Create a New Wallet.” You will then be prompted to create a secure password.

Who is the CEO of Trust Wallet?

The CEO of Trust Wallet is Viktor Radchenko. He is a blockchain enthusiast and entrepreneur who has been a part of the cryptocurrency community since 2013. Viktor is a self-taught software engineer who has been working on blockchain technology since 2013.

Is Trust Wallet safe?

Trust Wallet provides a secure and convenient way to store, send, and receive cryptocurrencies. Trust Wallet is considered safe, but as a non-custodial wallet, users are responsible for securing their private keys.

Does Trust Wallet charge fees?

Trust Wallet does not charge any fees for sending, receiving, or storing cryptocurrencies. However, there are network fees associated with transactions. These fees are paid to the miners or validators who process the transactions on the blockchain.

What assets does Trust Wallet support?

The app supports 70 blockchains and over 4.5 million assets. The wallet also supports staking for over a dozen PoS-based cryptocurrencies.

Does Trust Wallet require KYC verification?

Trust Wallet being non-custodial never asks users for Know Your Customer (KYC) compliance during the setup. However, if a user registers on the official website, Trust Wallet collects information like name and email address.

 

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We are CryptoManiaks.  Collectively, we have over 25 years of experience in the crypto world and are all passionate about guiding people through the complex world of crypto investing.

Written by

Ramsha Naushad

Ramsha is all about this new thing called cryptocurrency since the global pandemic of 2019 happened. She's convinced it's the future of money.

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