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Why are you use trust wallet? Is trust wallet secure to use and how it would save our digital currency? I think it would be safe and secure than others wallets? Please send your opinions.
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The security of any software is directly proportional to the use that users give it. As a general rule, the software is safe (with a few exceptions) but the problems always come from the user side. Not configuring it correctly, leaving important information in unsafe places... These are some of the most common cases and the ones that generate the most problems.
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Why are you use trust wallet? Is trust wallet secure to use and how it would save our digital currency? I think it would be safe and secure than others wallets? Please send your opinions.
Actually I don't know any news about trust wallet hacking but if one keep their security of phase in unsafe place then it obviously possible to phishing or hacking.
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Trust Wallet is so secure that no one has ever been able to say that a Trust Wallet account has been hacked.Your wallet will be safe as long as you do not share the private face of this wallet with anyone else.No one will even know anything about your wallet.Most bounty hunters and investors nowadays probably use this wallet.
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The benefits of using a trust wallet in cryptocurrency are unmatched by any other wallet.Trust Wallet is easy to use because it can be used by everyone, big or small, but if the security of this wallet is very strong, no one can hack this wallet even if they want to.
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Trust Wallet is definitely a popular and standard wallet.Trust Wallet is a very secure and easy to use wallet This wallet has gained a lot of popularity nowadays. Most people around the world feel comfortable using this wallet.Although there is much more to be said then to my knowledge people feel more comfortable using Trust Wallet I think Trust Wallet is a very easy to use and standard wallet The use of trust wallet is increasing day by day so this wallet will gain better popularity in future.
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Trust wallet is a safe and secure option for storing crypto assets. It is simple yet effective digital wallet which offers great features that include quite straightforward and user-friendly.
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Trust wallet is most convenient to use as this wallet supports all platform tokens.I have been using trust wallet for a long time.
I find this wallet most safe and secure to use.
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Trust wallet is most convenient to use as this wallet supports all platform tokens.I have been using trust wallet for a long time.
I find this wallet most safe and secure to use.
We can definitely consider that trust wallet as a secure wallet because it provides a decentralized way for users to trust it to store their assets. Trust Wallet supports users to store a wide range of assets. However, it has some features due to which users can trust its use.
Trust Wallet is a non-custodial wallet that allows users to have full control over their assets.This wallet stores private keys in the user's own control. No information is provided here with the Trust Wallet service. Moreover, since the code of this wallet is open source, anyone has the ability to conduct security reviews or investigations.
In case of using this wallet, users get biometric benefits, so their funds are more secure.
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Trust Wallet is a non-custodial wallet that allows users to have full control over their assets.This wallet stores private keys in the user's own control. No information is provided here with the Trust Wallet service. Moreover, since the code of this wallet is op
Trust Wallet is not completely open source IIRC. Are you referring to their Trust Wallet Core source code on GitHub? As far as I understand it, it is just a part of their apps and doesn't contain all the code of the software. Even if they use open-source wallet library code, they can still add some analytics or stuff like that without your approval. Personally, I wouldn't recommend Trust Wallet if your goal is to get a secure, open-source, and private mobile wallet. Other options are easy to get nowadays, you can build them yourself and see if the developer adds some backdoor or not.
It is surprising to see how the opinion of people about Trust Wallet has changed over the years though.
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This is an old post, so I believe that at when this post was created Trust wallet was safe. Trust wallet is closed source and it is not advisable to use closed source wallet to safe our funds as it will be vulnerable to attack. Open source wallets are the best wallet to use, either hot wallet or hardware wallet. Electrum and blue wallet is good for hotline. You can also use electrum ass cold storage by generating the keys on an airgapped device and never connect it to the internet. You then create a watch only wallet to monitor, track and broadcast transactions. Hardware wallet like unstoppable and Trezor are good.
https://coindoo.com/trust-wallet-hacked/
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Trust wallet is believed to be safe but you have to follow many rules in it which if not followed your wallet will be hacked. First of all when you regenerate your wallet be sure to save the key it provides. After saving that wallet key, be sure to write it down in a notebook and later keep it in a safe place where no one else knows. As long as you have that key in a safe place, your wallet is safe too. So if you are using a trust wallet with security then of course it is trusted but you will definitely lose your money when your keys fall into the wrong hands.
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This is an old post, so I believe that at when this post was created Trust wallet was safe. Trust wallet is closed source and it is not advisable to use closed source wallet to safe our funds as it will be vulnerable to attack. Open source wallets are the best wallet to use, either hot wallet or hardware wallet. Electrum and blue wallet is good for hotline. You can also use electrum ass cold storage by generating the keys on an airgapped device and never connect it to the internet. You then create a watch only wallet to monitor, track and broadcast transactions. Hardware wallet like unstoppable and Trezor are good.
https://coindoo.com/trust-wallet-hacked/
This is the post that I have been looking for. I am surprised that a topic of trust wallet would be raised and no one will say about his closed source code. After reading this your post I had to scroll up to check the date when the other post we are made and I was surprised to see that they were made some years ago when they trust wallet was an open source wallet.
But that not we standing I can say that the major issue between this closed and open source wallet is about mindset. There is actually no difference between when Trust wallet was open source and closed in case of security and the report of hack. Trust wallet and their own haven't received lesser number of patronage, it has been growing from strength to strength and there is no such report about malicious activities that is from the side of the trust wallet. An closed source code that is in the hands of safe people should be trusted, besides there are also open source scam projects.
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Trust wallet is believed to be safe but you have to follow many rules in it which if not followed your wallet will be hacked. First of all when you regenerate your wallet be sure to save the key it provides. After saving that wallet key, be sure to write it down in a notebook and later keep it in a safe place where no one else knows. As long as you have that key in a safe place, your wallet is safe too. So if you are using a trust wallet with security then of course it is trusted but you will definitely lose your money when your keys fall into the wrong hands.
By default, Trust wallet doesn't generate keys, it gives you a seed phrase and mostly it's a 12 worlds in Wallet import format i.e you can import the same seed phrase into wallet like Metamask and has access to all type of tokens.
The only reason why I will advice person to use Trust wallet is because they support most popular coins and with a single seed phrase, you can send and receive any type of coins of your choice but when you import that into Metamask, you will only see tokens that are EVM supported like ethereum, Binance smart chain, fantom, Matic/polygon, and Avalanche side chain.
Always make sure that your wallet is back up fully and written on a metal plate, it will help you in the future when you don't have access to your seed phrase /private keys again.
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Trust wallet has a very nice user interface and it's easy to use but it's not secure because it's a closed source wallet. The fact that there are lesser persons looking through the codes constitute a security risk, a hacker can exploit a bug and steal your funds. A good alternative for trust wallet is unstoppable wallet, which is an open source wallet. It supports multiple coins and also can interact with defi services via walletconnect.
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Trust wallet has a very nice user interface and it's easy to use but it's not secure because it's a closed source wallet. The fact that there are lesser persons looking through the codes constitute a security risk, a hacker can exploit a bug and steal your funds. A good alternative for trust wallet is unstoppable wallet, which is an open source wallet. It supports multiple coins and also can interact with defi services via walletconnect.
So why is it unsafe for everyone? :D Never had any problems, since 2020 (since the giveaway). Started using this wallet. Is it normal for Leadger (for example) to store users' seed phrases in other campaigns? As far as I'm concerned, it's not normal. Anyway, for me Trust is the most convenient + practical crypto wallet I use/will use. And most importantly (for me personally), you don't have to spend money to use the wallet.
P.S. I'm not imposing my thoughts. If something doesn't suit you = simply don't use it. Or, option another more popular wallet. 8)
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So why is it unsafe for everyone? :D Never had any problems, since 2020 (since the giveaway). Started using this wallet. Is it normal for Leadger (for example) to store users' seed phrases in other campaigns? As far as I'm concerned, it's not normal. Anyway, for me Trust is the most convenient + practical crypto wallet I use/will use. And most importantly (for me personally), you don't have to spend money to use the wallet.
I think the quoted post already explains the reason why, no? It is a closed-source wallet, nobody knows exactly how the wallet works, who's to say they don't record sensitive data like Ledger did or do something else with the analytics? Even if you never had any problem with it, it doesn't guarantee the wallet is safe either. What would you do if, in the end, they recorded your private key? Please do remember the tradeoff between security and ease of use is also important. If being free is one of your reasons to start using a wallet, there are tons of alternatives out there too.
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I think the quoted post already explains the reason why, no? It is a closed-source wallet, nobody knows exactly how the wallet works, who's to say they don't record sensitive data like Ledger did or do something else with the analytics? Even if you never had any problem with it, it doesn't guarantee the wallet is safe either. What would you do if, in the end, they recorded your private key? Please do remember the tradeoff between security and ease of use is also important. If being free is one of your reasons to start using a wallet, there are tons of alternatives out there too.
Don't get me wrong, I'm not strongly defending this wallet and I'm certainly not encouraging you to use it (everything is purely optional). In my situation, it's just easier to use this wallet (and a few other similar ones) than to spend money on cold wallets. But that doesn't mean that for anyone else, it has to fit. Again, in terms of safety = I'm personally absolutely fine with it. If there are no others, then don't use it.
P.S. Leadger, stores users' seed-phrase - in obscure campaigns. There's no guarantee of safety either.
The news broke today, "The U.S. National Institute of Standards and Technology is investigating Trust Wallet for iOS for a vulnerability that could potentially be used to steal funds from crypto wallets."
Source: https://t.me/hodlchat/178877
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The news broke today, "The U.S. National Institute of Standards and Technology is investigating Trust Wallet for iOS for a vulnerability that could potentially be used to steal funds from crypto wallets."
Source: https://t.me/hodlchat/178877
I don't speak Russian, but that Telegram doesn't seem to explain in detail. According to Coindesk report[1], the vulnerability is about generating weak recovery words which can be brute-forced easily. Although looking at direct source, it affect old version of trust wallet which published on 2018[2].
[1] https://www.coindesk.com/tech/2024/02/15/us-cyber-authorities-investigate-binance-trust-wallet-ios-app-for-vulnerabilities/ (https://www.coindesk.com/tech/2024/02/15/us-cyber-authorities-investigate-binance-trust-wallet-ios-app-for-vulnerabilities/)
[2] https://secbit.io/blog/en/2024/01/19/trust-wallets-fomo3d-summer-vuln/ (https://secbit.io/blog/en/2024/01/19/trust-wallets-fomo3d-summer-vuln/)
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I don't speak Russian, but that Telegram doesn't seem to explain in detail. According to Coindesk report[1], the vulnerability is about generating weak recovery words which can be brute-forced easily. Although looking at direct source, it affect old version of trust wallet which published on 2018[2].
Because they switched to closed source after that, but it has been confirmed that people lost money because of this.
I always told people to stop using junk wallets like this, but they decided to ''trust'' it because it was supported by binance exchange :P
Stay away from trust , and all other closed source wallets
Open source alternatives:
Mobile Wallets:
- OneKey mobile wallet (https://onekey.so/download?client=mobile)
- Stack mobile wallet (coin control, tor) (https://stackwallet.com/)
- Komodo mobile wallet (https://github.com/KomodoPlatform/komodo-wallet-mobile)
- Cake mobile wallet (coin control, tor) (https://cakewallet.com/)
- Unstoppable mobile wallet (https://unstoppable.money/)
- Mycelium mobile wallet (https://github.com/mycelium-com/wallet-android)
- Coin wallet mobile (https://github.com/CoinSpace/CoinSpace)
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I don't speak Russian, but that Telegram doesn't seem to explain in detail. According to Coindesk report[1], the vulnerability is about generating weak recovery words which can be brute-forced easily. Although looking at direct source, it affect old version of trust wallet which published on 2018[2].
Because they switched to closed source after that, but it has been confirmed that people lost money because of this.
I always told people to stop using junk wallets like this, but they decided to ''trust'' it because it was supported by binance exchange :P
Stay away from trust , and all other closed source wallets
Yeah, i'm aware they were open source for very short duration. Anyway, news i mentioned above also state this which means Trust wallet not really supported by Binance.
"Trust Wallet is now a separate legal entity that is not part of the Binance group and operates independently from Binance.com," a Binance spokesperson said in an email.
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@NikeFit_7777, just because you've never had any problems with Trust Wallet doesn't mean there aren't security issues that haven't been discovered to date for various reasons. The field of cybersecurity is very extensive, and all programs and applications should be taken to the extreme with all types of attacks as a test to launch them to the public, something that unfortunately is not always done. There are no 100% safe programs, since when updating them the failures and errors can be many and very serious. That's why it's always a good idea to test instead of just thinking about release dates.
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Yeah, i'm aware they were open source for very short duration. Anyway, news i mentioned above also state this which means Trust wallet not really supported by Binance.
And you really believe that BS statement?! :o
They purchased both Trust wallet and CoinMarketCrap, so it doesn't really matter what happened after.
Important thing is that license was changed to closed source, just the way binance likes it.
Fellow Binancians,
Binance has completed the acquisition of Trust Wallet, a secure and intuitive mobile wallet. Through this acquisition, Binance aims to provide a better service and to enhance the safety for all of our users.
Trust Wallet (trustwallet.com ) is a secure, open source, decentralized and anonymous Ethereum wallet application that supports Ethereum and over 20,000 different Ethereum based tokens (ERC20, ERC223 and ERC721), seeing significant user adoption since its launch in November 2017. The company has built a reputation for security and has held itself to the guiding principles that it will never access user wallets, hold private keys, and ask for personal information.
The acquisition of Trust Wallet will add an on-chain mobile wallet to the list of Binance services with other future integration possibilities. The Trust Wallet brand and team will retain the autonomy and freedom to develop the core product while benefiting from the increased synergy from Binance, including the broad user base and the upcoming DEX.
As a technology driven company, Binance’s acquisition of Trust Wallet shows the importance of secure wallet technology for the future development of cryptocurrency as a whole. As Binance’s first public acquisition, we hope to continue providing our users with improved security, services and support.
Thanks for your support!
Find out more about what is trust wallet on Binance Academy
Binance Team
https://www.binance.com/en/support/announcement/binance-acquires-trust-wallet-a-secure-mobile-crypto-wallet-360010790652
And here is trust crap working with binance pay in November 2023:
https://trustwallet.com/blog/how-to-use-binance-pay-with-trust-wallet
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Yeah, i'm aware they were open source for very short duration. Anyway, news i mentioned above also state this which means Trust wallet not really supported by Binance.
And you really believe that BS statement?! :o
--snip--
I never say anything about believing their statement. What i want to emphasize is, it's another reason not to trust or use Trust Wallet since it's clear Binance want to avoid taking responsibility while continue to make Trust Wallet promote Binance.
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@NikeFit_7777, just because you've never had any problems with Trust Wallet doesn't mean there aren't security issues that haven't been discovered to date for various reasons. The field of cybersecurity is very extensive, and all programs and applications should be taken to the extreme with all types of attacks as a test to launch them to the public, something that unfortunately is not always done. There are no 100% safe programs, since when updating them the failures and errors can be many and very serious. That's why it's always a good idea to test instead of just thinking about release dates.
P.S. So I'm not trying to change anyone's mind. This is a forum, we discuss + share our personal opinions. If someone thinks otherwise, that is absolutely their right. ::)
Sorry, if we think globally, there is nowhere safe for our funds in cryptocurrency in general. Not exchanges, not crypto wallets, not various projects, etc. - don't guarantee safety.
+ I failed to mention, I always stick to diversification. If there was a hack/problem at the Trust tomorrow, I would absolutely be sympathetic to it. (But that doesn't mean you have to hold the same opinion as I do.)
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P.S. So I'm not trying to change anyone's mind. This is a forum, we discuss + share our personal opinions. If someone thinks otherwise, that is absolutely their right. ::)
Sorry, if we think globally, there is nowhere safe for our funds in cryptocurrency in general. Not exchanges, not crypto wallets, not various projects, etc. - don't guarantee safety.
+ I failed to mention, I always stick to diversification. If there was a hack/problem at the Trust tomorrow, I would absolutely be sympathetic to it. (But that doesn't mean you have to hold the same opinion as I do.)
I know you are not trying to change anyone's opinion and we are here to debate different points of view, that is how a forum grows. In my post I only said that any software can have security problems and that nothing is 100% secure, we must also keep in mind that security is proportional to the use of the software or devices by users, and I know very well that the majority of users do not comply with even the most basic security standards, many of them due to laziness and others because they do not have basic knowledge. Although acquiring this knowledge is the obligation of each user since the necessary information is public.
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I know you are not trying to change anyone's opinion and we are here to debate different points of view, that is how a forum grows. In my post I only said that any software can have security problems and that nothing is 100% secure, we must also keep in mind that security is proportional to the use of the software or devices by users, and I know very well that the majority of users do not comply with even the most basic security standards, many of them due to laziness and others because they do not have basic knowledge. Although acquiring this knowledge is the obligation of each user since the necessary information is public.
I use the basic principles on a regular basis. + Sometimes I read interesting articles on this topic, or read people's stories + draw conclusions from them, how not to lose my (personal) funds. If you have had any interesting situations in this direction. I would be grateful if you could tell me about them. :o
That's an interesting update: "Trust Wallet will add a feature to pay for gas with third-party tokens and discounts on TWT payment fees."
Official source: https://trustwallet.com/uk/blog/twt-gas-fee-discount
From where I read this news item: https://t.me/hodlchat/179139
(https://i.ibb.co/4NzPy07/photo-2024-02-20-17-33-53.jpg)
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I use the basic principles on a regular basis. + Sometimes I read interesting articles on this topic, or read people's stories + draw conclusions from them, how not to lose my (personal) funds. If you have had any interesting situations in this direction. I would be grateful if you could tell me about them. :o
That's an interesting update: "Trust Wallet will add a feature to pay for gas with third-party tokens and discounts on TWT payment fees."
Official source: https://trustwallet.com/uk/blog/twt-gas-fee-discount
From where I read this news item: https://t.me/hodlchat/179139
The option to pay fees with third-party tokens may be positive, but the success and usability of that option for users could also be limited. I think it depends a lot on what token is used and its current market value, since it could happen that the price goes up and the whole process becomes a spiral. We could also say that eliminating an expense by creating a new one is not a solution to the current problem, which is why the factors that I have mentioned are very important.
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That's an interesting update: "Trust Wallet will add a feature to pay for gas with third-party tokens and discounts on TWT payment fees."
Official source: https://trustwallet.com/uk/blog/twt-gas-fee-discount
From where I read this news item: https://t.me/hodlchat/179139
If the third party option is more expensive than before I think this will not work in the future, people will use the old option for shipping costs later.
However, as long as I use TrustWalet, I haven't experienced any problems and I hope I never have problems
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The option to pay fees with third-party tokens may be positive, but the success and usability of that option for users could also be limited. I think it depends a lot on what token is used and its current market value, since it could happen that the price goes up and the whole process becomes a spiral. We could also say that eliminating an expense by creating a new one is not a solution to the current problem, which is why the factors that I have mentioned are very important.
So what are the limitations? On the contrary, it's convenient. Believe me, in a few months absolutely all (popular) crypto wallets will add this feature. I, as an active user of this wallet - on the contrary, am only happy about this update. Overall, with each update it becomes easier and easier to use all of the Trust's features. In any case, at the time of transaction fees, it's worth looking at whether it's profitable (at the moment) or not. + you get a discount for paying TWT.
P.S. Has anyone used this feature? Me personally, not yet. ::)
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Why are you use trust wallet? Is trust wallet secure to use and how it would save our digital currency? I think it would be safe and secure than others wallets? Please send your opinions.
I don't use trust wallet, neither do i recommend or trust it. Trust wallet is a self custodial wallet, but it is closed source and it is owned by binance, maybe if you want to store altcoins, you could use trust wallet if you wish. But do not use trust wallet to store your BTC's, there are better recommended BTC only wallets that you can use to store your funds, like Electrum or BlueWallet.
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I don't use trust wallet, neither do i recommend or trust it. Trust wallet is a self custodial wallet, but it is closed source and it is owned by binance, maybe if you want to store altcoins, you could use trust wallet if you wish. But do not use trust wallet to store your BTC's, there are better recommended BTC only wallets that you can use to store your funds, like Electrum or BlueWallet.
I'm sorry, how is (e.g. Ledger more reliable than Trust?) Mind you, the Ledger campaign knows your seed phrase. Absolutely at any moment, something bad can happen to any wallet hot/cold, etc. All I can advise is to diversify not only assets, but also wallets in which you keep your funds.
P.S. My personal experience of using this wallet is absolutely positive. I have been using it since the beginning of its creation, for several years already. No problems in the entire time I have been using it. Therefore, if you have not used Trust, I highly recommend it. If you have any questions, feel free to ask. I will help you with what I know. ???
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I'm sorry, how is (e.g. Ledger more reliable than Trust?) Mind you, the Ledger campaign knows your seed phrase. Absolutely at any moment, something bad can happen to any wallet hot/cold, etc. All I can advise is to diversify not only assets, but also wallets in which you keep your funds.
Maybe I'm blind, but where did he mention Ledger? Electrum and BlueWallet have no relation to Ledger afaik, and even if something terrible happened to our device, as long as you have a backup it should be fine. This is where most people fail to prepare, they assume their wallet is the best or use multiple wallets but never secure their backups at all. Not to mention diversifying your wallets will make backup even harder since you need to ensure you don't mix it up, can easily access them, etc.
I have experience with these wallets and I'd argue that if security and privacy are important to you, Trust Wallet is not the optimal choice. I think there has been a discussion about this in the past, or in other forums. Most privacy enthusiasts that I know of would probably suggest you go with Electrum if your choice is limited to those three.
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I'm sorry, how is (e.g. Ledger more reliable than Trust?) Mind you, the Ledger campaign knows your seed phrase. Absolutely at any moment, something bad can happen to any wallet hot/cold, etc. All I can advise is to diversify not only assets, but also wallets in which you keep your funds.
I never recommended Ledger hardware wallet, can you point me to where i did? I recommended Electrum and BlueWallet for BTC users. Each to their own, if trust wallet works for you, then fine; but i would not recommend it, especially to people who want to store BTC, and that is because trust wallet is a closed source wallet.
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The other day, I saw some very interesting news. I've never seen it before.
News: "The National Institute of Standards and Technology (NIST), part of the U.S. Department of Commerce, is currently scrutinising a vulnerability in the iOS version of the Binance Trust Wallet app."
P.S. Who has any thoughts on this? Feel free to share them.
(https://i.ibb.co/j4pC4Qk/photo-2024-03-25-11-26-22.jpg)
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The other day, I saw some very interesting news. I've never seen it before.
News: "The National Institute of Standards and Technology (NIST), part of the U.S. Department of Commerce, is currently scrutinising a vulnerability in the iOS version of the Binance Trust Wallet app."
P.S. Who has any thoughts on this? Feel free to share them.
(https://i.ibb.co/j4pC4Qk/photo-2024-03-25-11-26-22.jpg)
That vulnerability related with news you shared last month. In addition to what i said previously, it means they don't take security very seriously where hacker found and exploit it first.
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I never recommended Ledger hardware wallet, can you point me to where i did? I recommended Electrum and BlueWallet for BTC users. Each to their own, if trust wallet works for you, then fine; but i would not recommend it, especially to people who want to store BTC, and that is because trust wallet is a closed source wallet.
This was just an example, one of the popular but less reliable cold wallets. It wasn't addressed specifically to your post. ::)
I use most of the hot wallets, Trust is included in their list of course. Even if we're not talking about BTC, but other cryptocurrencies - I think it's an ideal option. Especially if you entered the market yesterday and have no time to understand these or those issues.
P.S. Question, is BlueWallet a cold wallet? I haven't heard of it before. :o
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This was just an example, one of the popular but less reliable cold wallets. It wasn't addressed specifically to your post. ::)
If that was the case, maybe you should not have quoted his post or made it sound like you were responding to him. In fact, I'm also confused about it since quoting somebody usually means responding to them. Hence why my message above.
P.S. Question, is BlueWallet a cold wallet? I haven't heard of it before. :o
It is a mobile wallet. If you're interested in a mobile wallet, you can check out their Github and build it on your own. It is the alternative for closed-source mobile wallets like TrustWallet on Android and iOS. AFAIK, it is quite popular.
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Trust Wallet warns of an exploit threat on iOS.
Link to the news: https://x.com/trustwallet/status/1779961167537979775?s=46
A warning for iOS users: we have credible information about a high risk zero-day exploit targeting iMessage on the darknet.
It can get into your iPhone without clicking a single link.
The recommended action to protect against this exploit is to disable iMessages as soon as possible until Apple fixes this.
Go to Settings -> Messages -> and turn off iMessage.