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Trust Wallet Review

Last Updated on June 4, 2024

James Headshot
Written by
Adam Headshot
Edited by
Trust Wallet logo
3.36
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.
Visit Trust Wallet

The Bottom Line Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Trust Wallet is a non-custodial and user-friendly platform that supports millions of assets and NFTs across multiple blockchains. Its interface is intuitive and designed for beginners and experienced users.

The platform provides in-wallet staking, direct swapping, and a dApp browser. It also offers strong security measures, including military-grade encryption, but lacks two-factor authentication. Therefore, users are responsible for safeguarding their wallet and recovery phrase.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

Pros

  • Supports a wide range of cryptocurrencies
  • User-friendly interface
  • Private keys are stored locally on the useru2019s device
  • Provides an in-app browser for DApps
  • Supports staking for certain cryptocurrencies

Cons

  • No two-factor authentication (2FA)
  • Doesn't support fiat deposits or withdrawals
  • No desktop version, mobile only
  • Limited customer support options
  • No built-in exchange; relies on third-party services

Quick Summary

Headquarters Location San Francisco, California, USA
Total Supported Cryptocurrencies 10000000+
Trading Fees 0%
Deposit Methods Cryptocurrency, MoonPay, Simplex, Banxa, Mercuryo, Ramp Network, Transak
Support Facebook, Twitter, Instagram, Help Center Articles, Support Ticket
Mobile App Yes - iOS, Android

Trust Wallet is known to be a user-friendly platform for newcomers and seasoned users in the crypto community. Notable features contributing to its appeal include the ability to stake various cryptocurrencies, options to earn interest on holdings, and facilities for purchasing coins via its integrated decentralized exchange.

Trust Wallet homepage

The wallet is available through a mobile app and a Chrome browser extension, and KYC verification is not required. The platform is strongly dedicated to maintaining user privacy, so it operates without collecting personal information or monitoring IP addresses.

Trust Wallet delivers hassle-free capabilities for swapping cryptocurrencies directly in the app and supports diverse payment methods, such as Apple Pay and Google Pay when buying currencies.

About Trust Wallet

Trust Wallet ensures its users control their private keys and funds. Its non-custodial nature sets it apart from its custodial counterparts by giving you the reins to your digital assets. It also facilitates the management of a wide array of cryptocurrencies and tokens in one consolidated interface.

With its extensive selection of supported assets comes simplicity in executing transactions such as purchases, storage operations, and exchanges.

Trust Wallet features

Rather than storing crypto directly in the wallet, the Trust Wallet app is a gateway for accessing blockchain networks where user crypto holdings (including various digital assets) are encrypted and securely kept in cold storage.

Trust Wallet has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Discord, Reddit, Telegram and YouTube.

Trust Wallet has a mobile app on both the Apple App Store and Google Play.

Trust Wallet Supported Cryptocurrencies

Trust Wallet stands out for its impressive support of digital assets and NFTs. With wallet support extending over 65 blockchains, users can conveniently manage millions of digital assets from one location. Thanks to this support, the platform eliminates the need to juggle multiple cryptocurrency wallets or exchanges.

Trading Experience

Trust Wallet’s user-friendly interface makes purchasing your initial cryptocurrency or managing a varied portfolio easy, making it accessible to everyone.

The platform has a data caching feature to boost efficiency by quickening load times and app responsiveness. Also, the importance placed on the Swap feature over the Buy function allows for trading transactions directly inside the app.

Trust Wallet exchange marketing

Trust Wallet Fees

Trust Wallet emphasizes transparency in its fee structure. Although it does not charge fees for transactions conducted inside the wallet or when exchanging one type of crypto for another, users should keep in mind that network fees and potential charges from external services may apply.

Network Fee Transparency

This wallet service assures that there are no hidden fees, so you only cover the essential costs. Transaction-related network fees do not benefit Trust Wallet but rather compensate miners or validators who maintain the integrity of the blockchain.

Trust Wallet allows its users to manually alter the gas fees in their transactions, potentially influencing how fast they are processed. It’s important to note that these charges differ depending on which blockchain handles the transaction. Therefore, users should know about the possible outcomes before changing these fees.

Users using debit or credit cards for their purchases in Trust Wallet may be subject to transaction fees between 3.5% and 5%. It’s important to note that these charges stem from external third-party providers like Simplex and are not imposed by Trust Wallet.

Type Fee
Trading Fee 0%
Withdrawal Fee (Bank Transfer) No fees listed.

Trust Wallet supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, they don't charge anything above the standard Bitcoin network fee. Across all the crypto exchanges we've reviewed, the average Bitcoin transaction fee charged is 0.000401 BTC compared to the actual network fee of 0.000026 BTC. This means you are saving 93.42% on Bitcoin transactions by using Trust Wallet instead of other exchanges.

Security - Is Trust Wallet Safe?

Trust Wallet is strongly dedicated to user confidentiality. It uses military-grade encryption and security protocols similar to those used in banks, safeguarding users’ sensitive information and private keys in the wallet. These security provisions enhance Trust Wallet’s standing as a secure platform for handling digital assets.

Encryption and Protection Protocols

This mobile wallet uses encryption techniques to protect private keys from unauthorized access, providing you with exclusive control over your assets. The app requires a PIN or password for entry and offers additional protective options like Touch ID or Face ID for advanced safety.

To aid in the wallet’s recovery process (should it be necessary), Trust Wallet has implemented a 12-word seed phrase that users must keep in a safe place. The app also includes a Security Scanner designed to help users spot potential dangers when carrying out transactions.

The Absence of Two-Factor Authentication

Trust Wallet does not feature two-factor authentication (2FA), which means users must adopt other secure methods, such as using strong passwords and safeguarding their recovery phrases.

So, the responsibility of maintaining wallet security falls entirely on the users. Trust Wallet cannot help recover lost or compromised accounts.

Trust Wallet Customer Support

Trust Wallet’s help center is designed to equip users with an array of tools and guidance for working on the platform and troubleshooting any problems they may encounter.

Trust Wallet also offers customer service via email at support@trustwallet.com. This channel is available for all inquiries or challenges users might have concerning their wallets, including technical difficulties or transaction-related assistance.

Trust Wallet support

Trust Wallet Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

Advanced Features and Extras

Trust Wallet enhances the user experience by providing advanced capabilities, including in-wallet staking and swapping. This allows users to expand and manage their investments in the crypto wallet itself.

Trust Wallet also includes an embedded dApp browser that lets users engage with decentralized applications.

In-Wallet Staking and Earning Potential

Users can easily stake their assets and start accruing rewards directly from their crypto wallets. Trust Wallet provides an earning estimator tool that enables users to calculate potential returns based on the current annual percentage rates (APRs) of available staked assets. This functionality and a broad range of staking opportunities enable users to diversify their holdings and enhance blockchain security through participation.

Direct Swapping and dApp Connection

Trust Wallet’s Swap function enhances the user experience through reduced gas fees, a wide selection of tokens, and competitive transaction rates.

The built-in dApp browser in Trust Wallet allows users to interact directly with decentralized applications on Ethereum and Binance Smart Chain networks. This integration adds ease and capability to their offerings, establishing Trust Wallet as a platform for managing various crypto assets.

How to Sign Up on Trust Wallet

  1. Create Account - Visit the Trust Wallet website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you'll be able to deposit using the methods listed below. Remember this exchange only supports depositing fiat currencies through third party apps it supports.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Cryptocurrency
  • MoonPay
  • Simplex
  • Banxa
  • Mercuryo
  • Ramp Network
  • Transak

Trust Wallet Alternatives

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3.77
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
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Trading Fees
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Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 40 others

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Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
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Trading Fees
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Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others

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Bancor logo

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Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
99+

Trading Fees
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Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 70 others

Visit Bancor

Final Thoughts

Trust Wallet has a user-friendly interface, extensive asset support, and strong security measures. Its most notable features include its transparent approach to fees, in-wallet staking, direct swapping, and commitment to customer support.

The company stands out as a powerful platform for managing digital assets, offering its users a secure and productive experience. Whether you’re a seasoned trader or a newcomer to the crypto industry, Trust Wallet will cater to all your crypto management needs.

Trust Wallet FAQs

Trust Wallet is deemed trustworthy and secure as it operates on a non-custodial framework, giving users absolute command over their private keys and financial assets. The wallet’s comprehensive support for various assets and intuitive interface contribute to its reputation as a dependable tool for managing digital funds.

While Trust Wallet itself does not charge fees for transactions conducted inside the wallet or for exchanging cryptocurrencies, users should be mindful of network fees and any charges that may apply from third parties.

Trust Wallet employs strong security protocols, including military-grade encryption, to safeguard sensitive information and the private keys in the wallet. However, it does not provide two-factor authentication. As a result of this omission, users are advised to implement additional measures to ensure their wallets remain secure.

Trust Wallet enables in-wallet staking and swapping. It also features a built-in dApp browser allowing direct engagement with decentralized Ethereum and Binance Smart Chain applications.

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Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors

James Headshot
Written by

Crypto Technical Writer

James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.

His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.

Check James out on:
Adam Headshot
Edited by

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

Check Adam out on: