Trust Wallet

Trust Wallet

By Stat1c | NewCrypto news | 20 May 2020

In this post we will discover the characteristics of the Trust Wallet which since July 2018 has become the official wallet of Binance, the largest Exchange in the world95d7b097f364aaaad94ba04c930b0eb3698fdceae8e2aa67b1a76f3e91e1e181.jpegTrust Wallet is part of what are called "Mobile Wallets". It is in fact an App, downloadable from the main stores, such as Play Store and Apple Store that allows you to store, send and receive cryptocurrency. If you have an Android device, you can also download the APK for direct installation on your device

It works with all ERC20, ERC223 and ERC721 tokens and supports the main blockchains in the Ethereum ecosystem: Ethereum, Ethereum Classic and Callisto.

The interesting thing about this Mobile Wallet is the fact that it is an Open Source project, so the code is controlled by the community and can be constantly updated.

What Cryptocurrencies Does It Support?

The Trust Wallet supports Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), XRP, Zcoin, Ethereum (ETH), Ethereum Classic (ETC), VeChain (VET) GoChain (GO), POA Network (POA), Tron (TRX), Wanchain (WAN), Callisto (CLO), ICON (ICX), DASH and TomoChain (TOMO).

As far as security is concerned, the Trust Wallet has high standards. Your private keys are not stored on any server, but are saved locally on your device. This means that you have full control of your funds. Another important peculiarity that makes it even more secure is the fact that Trust does not require the addition of personal data.

In case of loss of the device in which you downloaded the Trust Wallet, you have the possibility through another device to restore your funds. When you download the Wallet you are asked to perform a Trust Wallet Backup by saving a 12-word phrase that you will have to save in a safe place. For example, I always use the old method of putting the phrase on a piece of paper, so as not to leave it stored on your smartphone.

The Trust Wallet as far as I'm concerned, has important security features. The fact that private keys are not stored on third-party servers but remain inside my device, are the first element for choosing a good Mobile Wallet. If we talk about privacy as mentioned above Trust does not require any personal data. Another very positive factor is the fact that the project is Open Source allowing the community to continuously work on improving the code. Finally, the fact that Binance has become its owner makes it one of the best Wallets on the market, given the seriousness shown so far by the company.  

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