Multi-Asset Support
Open Source
The Wallet Allows You to Stake Several of Your Assets
Not Available on Other Platforms (Web, Desktop)
Hierarchical Deterministic (HD)
Full Possession of Private Keys
No Two-Factor Authentication
Trust Wallet Review: Features and How-to-Use Guide
Trust wallet is one of the first Ethereum wallets to support all its tokens, while also operating with 14 other coins. It also collaborates with the blockchains of Ethereum, Ethereum Classic and Callisto, all of them part of the ETH ecosystem. There are more than twenty thousand tokens supported and 15 coins in total. Read this thorough review of Trust wallet and learn more about the supported coins, the features as well as how to use the wallet.
01.Trust Features & Fees
Completely free to use, Trust is both multi-coin and multi-token wallet, which possesses an HD nature. Widely used, it’s considered to be one of the best apps on the market at the moment. It offers all the essential features you might want to use on a daily basis and of course, some extra ones to attract different user groups. Between Trust’s additional features, you might observe the integrated dApps browser to exchange tokens and some games, built on the Ethereum blockchain.
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Web Page Interface
Pros & Cons
The following table will provide you with an overview of everything you would need to consider when speaking of the Trust wallet. On the left side, I’ll show all the advantages to think of and on the right side, I’ll give you some insights on what’s wrong. So, you’ll be finally able to take an informed decision if Trust is the wallet for you.
- HD WalletThe wallet’s hierarchical deterministic nature allows you to get a new address every time you perform a transaction in order to keep your balance anonymous. What’s more, the same seed generator gives you a phrase to remember for the purpose of easily restore your wallet in case of a need
- Built-In ExchangeTrust wallet possesses a built-in exchange, which allows you to trade tokens via dApps
- Open SourceThe project’s open code means that users are able to read it and offer some changes if there’s a vulnerability
- Multi-Asset SupportThe multi-asset support consists of more than 20 000 tokens and 15 major coins
- Single-Factor Authentication (SFA) There’s no Two-Factor-Authentication protection. In a word, it’s just your password what keeps your funds safe and secure. No extra layer to request additional information
- No Fiat Support There’s no ability to buy coins for your Trust wallet with fiat money. This means that you should either have some coins or pass through an exchange to buy them
Are You Interested in the Trust Wallet?
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Read More on Multi-Coin Support and OS Compatibility Below
Multi-Coin Support and Operating System Compatibility
As mentioned earlier, there are 15 coins, that Trust wallet supports. Some of the major ones are Bitcoin and its forks like Bitcoin Cash and Litecoin, both Ethereum and Ethereum Classic, and Dash. All the others you can see in the table below. When it comes to tokens, there are lots of them inside. If I need to resume somehow, all the ERC20, ERC223 and ERC721 are supported by Trust. Scroll down to check my list.
As a mobile wallet, Trust is available on both Android and iOS devices. If it comes to the first one, then ensure yourself at least version 6.0. and for the second one – 11.0. or later.
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Google PlayAndroid
Requires Android 6.0 or later
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App StoreiOS
Requires iOS 11.0 or later. Compatible with iPhone, iPad, and iPod touch
Built-In Exchange: Kyber Swap
There’s no specifically integrated built-in function but users are able to access any kind of exchanges to perform a token swap, thanks to the dApps feature, operating on the ETH network. Known as Kyber Network, this is a decentralized exchange for all the ETN tokens. Additionally, you can also use the EasyTrade, which is a market for tokens. Explore all those in the wallet’s menu.
Is Trust Wallet Safe?
Security
Let’s look at some key facts when it comes to the safety of Trust wallet. First, you’re the only one who has access to your private keys. They never leave your mobile, thanks to the strong encryption. Next to note is the code’s open source nature, which gives users the opportunity to explore the project’s idea and report possible vulnerabilities. Speaking of additional security layers, there aren’t any of them, so it’s just your password to keep safe your funds.
Open Source
An open code means that users can read it and suggest modifications in case there’s a patch needed to avoid compromising their coins
Private Key Ownership
You’re the only one in charge of your private credentials. That’s why you should be careful and always think of the people who have access to your device
Privacy and Anonymity
As mentioned earlier, the Trust wallet is an HD one, which means that there’s an integrated generator to provide you with a new public address for every transaction. In fact, this is what makes your balance hard to trace. Additionally, this is what gives you the opportunity to perform an easy restore process, thanks to the seed and the 12-word phrase generated by it.
Hierarchical Deterministic (HD)
The HD feature helps you to avoid reusing the same address over and over again, which is ensuring anonymity for your funds
Is Trust the Wallet For You?
Download HereTransaction Fees
At the moment, there aren’t any fees to use the Trust wallet. Of course, the team reserves the right to change so in the future. Any potential changes will be displays on the fees screen. When it comes to transactions, there are three different levels to choose between. The first option is to put a small fee and wait for it to pass slowly, the second one is regular and the third – highly paid and fastest on the go.
Conclusion
At the end of the review of Trust wallet, think whether it fits your needs and matches your wallet expectations. If you’re happy with the HD function and the diversity of options to exchange token, then go to your app store and download the Trust wallet.
If you’re not sure about it and probably missing some security enhancements, maybe also the Multi-Signature option, then you might want to have a look to one of the best alternatives on the market – the Jaxx wallet.
02.Trust Wallet Guide: How to Setup and Use
The following section is going to lead you through the process of setting up and using the Trust wallet. Starting with the installation guide, continuing to the possible operations to finally end up with some issues and how to deal with them.
How to Install
In order to prepare a clear and understandable step-by-step tutorial, I have gathered the tables below for you. Check if you need the Android or the iOS one and strictly follow the guide.
Choose an Operating System
- Go to the Google Play Store and download the application. Install it by clicking the specific button
- Right after you start it, you’ll get a 12-word phrase to note down. It’s the one from the seed if you ever need to restore your wallet. Run the app and create an address
- Access the App Store and download the app. Install it via the dedicated button
- After you run it, note down the 12-word seed phrase in case you need to restore later. Start the app and set an address
Interface Overview
Trust’s interface is clear and easy to use. There’s a wallet menu to see the list with the assets you own and a dApps menu with all the dedicated specifically based functions, such as exchanges and games. Additionally, there’s a Settings menu.
Create an Address
Once you download and run the Trust wallet app, you can see your addresses when you type on a certain coin and click the receive button. There’s no way to extract your private credentials from the wallet itself, so these are the only keys you can access to.
Send and Receive Assets
To send Stellar and its tokens, you should simply go to the dedicated Send menu and write down an address and amount to transfer. Same with receiving – once you get your public key from the Receive menu, simply provide it to the sender.
Hint: Always check twice the receiver’s address, because if there’s a mistake, no one will retrieve your coins.
Backup and Restore
Backup
Install and deposit your crypto
When you initially create your wallet, you’ll get a 12-word phrase to restore your funds in future.
Create a strong password and save it
You can go to the Settings menu and set a passcode of 6 digits as a password to protect your coins.
Restore
Install and restore wallet from the seed
Once you download the Trust wallet app, the first option is to click the I already have a wallet option, instead of the Create new wallet. Enter your 12-word phrase and select the Multi-coin option.
Restore by importing private keys or using wallet files after install
Another way is to choose the wallet you would like to restore and type in a private key to get your coins back.
Specific Functions
As mentioned earlier, there’s a dApps integration to help you use exchanges or play games. You can either choose an option or type manually a website’s URL. What’s most interesting is the fact that here you can also cold stake your assets.
Possible Issues and How to Avoid Them
If you would like to switch from MyEtherWallet to Trust wallet, there are several simple steps to accomplish, using your Keystore file (backup), created from MEW:
- Copy the file’s content between the symbols: “{…}”
- Move it to your mobile device via Telegram’s Saved messages or an email address
- Open your mobile Trust app and go to the Settings tab
- Click Wallets and add a new one from the plus sign on the right
- Select the Import options via the Ethereum network
- Choose the Keystone possibility and paste the string
- Type your password and confirm the action by clicking the Import button
03.FAQ
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What is gas and how to find its price or limit?
This is the ETH fee users pay to the miners for their contribution. It’s equal to the multiplying of the price and the limit. You would need it every time you want to send a transaction.
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How to proceed if I don’t see my tokens on the list?
Usually, they should appear automatically, if they do not, follow the steps:
- Visit the etherscan.io and place in your public key
- If you see the transaction there – it’s all good, otherwise the transaction hasn’t passed
04. About Trust
Developers have created the app to be friendly and user-orientated. It offers multiple options to access it such as code-password, Face or Touch identification. There are lots of tokens integrated, while multiple coins are also supported. It is similar to an ecosystem, which exchanges assets in the application itself. The project’s code is available on GitHub to explore and propose modifications. Both Android and iOS users are able to use it.
Trust on Social Media
strongly recommend you follow Trust on social channels in order to stay always tuned for everything that comes up, respectively profit the latest enhancements of the app.