Trust Wallet Review: Details, Pros & Cons 2023

Trust Wallet is a mobile cryptocurrency wallet that was founded in 2017 by Viktor Radchenko. The wallet started as an Ethereum wallet but now supports more than 160 cryptocurrencies, including Bitcoin, Binance Coin, and Litecoin, among others.

See also: 13 of the Best Web3 Applications in 2023

Security Features and Measures

Is TrustWallet safe for me?

Yes, Trust Wallet is regarded to be a safe and secure cryptocurrency wallet.

It is a decentralized wallet, which means that users have complete control over their private keys and funds.

also, Trust Wallet uses advanced security measures, such as PIN codes and biometric authentication, to protect users’ funds and personal information. The wallet also allows users to set up a recovery phrase, which can be used to restore access to their wallet if they lose their device or forget their PIN.

Supported Currencies and Tokens

TrustWallet supports over 4.5 million different types of cryptocurrencies, coins, and tokens, including Bitcoin, Ethereum, Litecoin, Ripple, Cardano, Binance Coin, and many more. The wallet also supports hundreds of collectibles like CryptoKitties and God’s Unchained cards.

Trust Wallet is compatible with a wide variety of cryptocurrencies and tokens. As of 2023, trustwallet currently supports the following cryptocurrencies and tokens:

Bitcoin (BTC)
Ethereum (ETH)
Binance Coin (BNB)
Litecoin (LTC)
Ripple (XRP)
Bitcoin Cash (BCH)
Tether (USDT)
USD Coin (USDC)
Dogecoin (DOGE)
Chainlink (LINK)
Polkadot (DOT)
Uniswap (UNI)
Aave (AAVE)
Compound (COMP)
Maker (MKR)
Yearn Finance (YFI)

In total, Trust Wallet supports various cryptocurrencies and tokens, with new coins and tokens being added regularly. To view the full list of supported cryptocurrencies and tokens, users can visit the Trust Wallet website or check the wallet app itself.

User Interface and Ease of Use

Trust Wallet has an easy-to-use interface that makes it simple for both new and experienced traders to use the wallet.

Holders are presented with a simple and clean interface that displays their cryptocurrency holdings and recent transactions upon opening the wallet. The app has a modern and user-friendly design, with clear labels and simple menus.

Users can send or receive cryptocurrency by tapping on the corresponding button on the app’s home screen and following the prompts.

The app also supports QR code scanning, making it simple to send and receive money quickly.

Trust Wallet’s integration with the Binance Smart Chain is one of its distinguishing features, allowing users to access decentralized applications (dApps) directly from the wallet.

Fees and Transaction costs

Many questions have been asked by those who are new to cryptocurrency and are looking to grow their portfolio onTrustwallet, and one of the most popular questions I’ve encountered is…

Does Trustwallet charge any fees for transactions?

I’ll answer it straight up if you’re still wondering.

Although there are no fees for using Trust Wallet, there are some transaction costs associated with sending and receiving cryptocurrencies. These fees are set by the respective blockchain networks and are paid to the miners who process the network’s transactions.

The transaction costs or fees for sending cryptocurrencies using Trust Wallet can vary depending on various factors such as network congestion, the size of the transaction, and the priority of the transaction.

Some cryptocurrencies like Bitcoin have high transaction fees due to their network congestion and limited block size. Other cryptocurrencies like Ethereum have lower transaction fees but can also experience high congestion during periods of heavy network usage.

Cross-chain Compatibility

Cross-chain compatibility is another feature of TrustWallet that allows HODLers to manage and transfer multiple cryptocurrencies across different blockchain networks.

Trust Wallet supports cross-chain compatibility, which means that it allows users to manage and transfer multiple cryptocurrencies on different blockchain networks within a single wallet.

For instance, cryptocurrencies like Bitcoin, Ethereum, Binance Coin, and many more.

Customer Support and Community

Trust Wallet provides users with 24/7 customer support and community support through social media platforms like Twitter and Facebook.

Support is also available through its website and in the Trust Wallet mobile app.

There are also online user forums to enable users to share knowledge and experiences, as well as a knowledge base with FAQs.

The team is committed to offering the best customer and community support possible in order to ensure a safe, secure, and enjoyable experience when using the wallet.

Additional Features

• Trust Wallet includes a decentralized application (dApp) browser that enables users to interact with decentralized applications on various blockchain networks. Users can use this feature to access a variety of decentralized applications without leaving the Trust Wallet app.
• The Wallet also allows users to create and manage their own custom tokens on various blockchain networks. This feature is useful for businesses and organizations that want to create their own tokens for various purposes, such as rewards programs or fundraising.

Pros and Cons of using Trust Wallet

I’ve done a special walkthrough of various online communities, and I’ve seen a lot of complaints about trustwallet.

However, the complaints all over the internet are very simple to resolve, but the good news is that the pros outnumber the cons, which is a good point of focus.

1. Pros

Trust Wallet is a secure, open-source digital wallet that supports Ethereum, ERC-20, ERC-721 tokens, and various other assets.

Trust Wallet is compatible with desktop and mobile operating systems such as iOS, Android, and Windows.

The wallet is also non-custodial, meaning that users have complete control over their crypto assets.

It also provides an in-app crypto exchange, allowing users to buy and sell cryptocurrencies without having to leave the app.

It has a built-in web3 browser that allows users to access and interact with decentralized applications (dapps).

2. Cons:

Trust Wallet is a decentralized wallet, meaning that there is no central authority to provide customer support.

If you encounter any issues with the wallet, you may have to rely on online resources or community forums for help.

Trust Wallet is owned by Binance, a centralized cryptocurrency exchange.

While Trust Wallet operates independently from Binance, some users may have concerns about the lack of transparency regarding the ownership and management of the wallet.

Trust Wallet vs Metamask

Trust Wallet and MetaMask are two popular cryptocurrency wallets that share and differ in some ways.

They serve the same function as the buying and selling of cryptocurrencies but still have their own differences.

Here are some key distinctions between the two:

Trust Wallet is only available for mobile devices, whereas MetaMask is available as a browser extension for desktop browsers such as Chrome, Firefox, and Brave. This means that MetaMask is available from any desktop or laptop computer, whereas Trust Wallet is only available from a mobile device.

Both Trust Wallet and MetaMask support a wide range of cryptocurrencies, but the specific cryptocurrencies supported by each wallet may differ.

Trust Wallet is owned by Binance, a centralized cryptocurrency exchange, while MetaMask is an open-source project that is managed by ConsenSys, a blockchain software company

Finally, the decision between Trust Wallet and MetaMask will be dictated by your individual requirements and preferences.

Both wallets are reputable and provide strong security features, so the choice may come down to features like support, user experience, and cryptocurrency support.