Do you continue to trust Trust Wallet?

[Husires]

What makes me laugh the most is when people talk about stopping using Trust Wallet then say they moved to Exodus Crypto Wallet or any other closed source wallet. It is difficult to find a good open source wallet that supports a large number of altcoins, so if you are an altcoin fan, it is better to buy a hardware wallet because it is the only wallet that has enough funding to list more altcoins.

[electronicash]

What makes me laugh the most is when people talk about stopping using Trust Wallet then say they moved to Exodus Crypto Wallet or any other closed source wallet. It is difficult to find a good open source wallet that supports a large number of altcoins, so if you are an altcoin fan, it is better to buy a hardware wallet because it is the only wallet that has enough funding to list more altcoins.

i think because they weigh the benefit of using it than the security of their assets. wallets that supports defi and staking makes them go for it. trustwallet does support it afaik. and then i read it somewhere trustwallet now has points system where the points can be exchanged to crypto tokens incentivizing users to use the wallet.

users who trusted binance though are also going  be trusting the trustwallet. you'd be surprised to see people using it because there is a word trust on its name 

[SamReomo]

It is difficult to find a good open source wallet that supports a large number of altcoins, so if you are an altcoin fan, it is better to buy a hardware wallet because it is the only wallet that has enough funding to list more altcoins.

I agree with you, it's quite hard to find a wallet that supports a huge number of altcoins most of the open-source wallets that I use don't support all altcoins and that's why sometimes I do have to use Trust wallet.

However, I never recommend anyone to use it for holding purpose. I haven't used any hardware wallet for the purpose but if that works that it's good.

[Charles-Tim]

I agree with you, it's quite hard to find a wallet that supports a huge number of altcoins most of the open-source wallets that I use don't support all altcoins and that's why sometimes I do have to use Trust wallet.

You can use Unstoppable and Metamask that are both open source.

[KryptoBull]

I am assuming you are not aware of MetaMask snaps [1] because snaps have made MM compatible with plethora of new chains, aside from already supporting EVM ones. Check out the link given below.
[1] https://snaps.metamask.io/explore/

Thank you very much, I've never tried using Snaps and didn't know about the list of blockchains that could be connected and interacted with through MetaMask. MetaMask has developed faster than I could imagine, it's actually become a major force in the crypto market.

Normally I just use MetaMask for EVM chains and TrustWallet for the rest. Perhaps I will also soon use MetaMask to decentralize the management of my crypto assets.

[SamReomo]

You can use Unstoppable and Metamask that are both open source.

I do use Metamask as that's one of the main choices when it comes to altcoins and when it comes to Unstoppable then it's the first time I'm hearing about that wallet. Surely, I will try that one to see how many good altcoins it supports! Thanks for sharing it.

[Manna]

Everyone participating in the market is encouraged to self-custody crypto in personal accounts instead of leaving tokens on CEXs, and to create accounts and interact with blockchains, wallet applications are extremely necessary. In 2017, I had to use the MEW website to create and manage accounts on the Ethereum blockchain, but since 2020, I have switched to using mobile applications and the application I chose is TrustWallet on iOS. To be honest, I'm still using TrustWallet on my old iPhone, just for the purpose of trading when needed.

As a regular user, I have no complaints with TrustWallet: it is fast, smooth, supports many blockchains, is user-friendly and has a huge community ^[1]. However, TrustWallet was recently investigated and accused by SECBIT Labs (not the SEC): a flaw in Trust Wallet's code used functions intended for testing purposes only. These functions generated weak private keys, making it easier for attackers to steal funds. The vulnerability potentially affects accounts created between February and August 2018 on Trust Wallet's iOS app ^[2].

Fortunately, I didn't use TrustWallet in 2018. Additionally, Trust Wallet claims that the issue only affected a small number of users and was patched in July 2018, and affected users were notified and migrated to new wallets. However, this makes me a little worried: are there still unknown security vulnerabilities in TrustWallet? Even the giant Ledger, which prides itself on hardware wallets, had problems at the end of 2023 ^[3], so it's normal for me to be worried about TrustWallet. I'm a pretty optimistic person, but I know I need to diversify my risk and can't put all my self-custodied crypto assets in one account and in one crypto wallet app.

As a long-time user, I still trust TrustWallet, but this event also made me decide to use one more crypto wallet app, SafePal on iOS. I've also thought about hardware wallets, I've never used one before but I will research and will soon buy one from the profits in this uptrend. I'm not afraid to admit that I like the convenience of crypto wallet apps on smartphones over hardware wallets. After all, convenience comes at a price for security.

I would like to know your views on crypto wallets:

• Are you using TrustWallet? Will you continue to trust TrustWallet?
• Are you using other crypto wallet apps?
• Is a hardware wallet really necessary for your crypto investment?

References:
[1] Trust Wallet Review 2024 – Everything You Need to Know
[2] Old Trust Wallet iOS vulnerability from 2018 may still affect some accounts
[3] What We Know About the Massive Ledger Hack
Note:

• My opinion was posted first in that topic, on Bitcointalk
• I leave the source link to avoid plagiarism accusation.
• I excluded/ included minor things from an original thread ^{if necessary}.

This is very important to think about your crypto security.  Here are the answers to your questions: Using TrustWallet: TrustWallet is a popular and readily available option for many.  Although there have been reports of some security issues, TrustWallet generally takes quick steps to keep their users safe.  If you're hesitant to use a new app or service, it's true that many users have used TrustWallet and most are satisfied with their experience. Overall, using a crypto wallet app on a smartphone is convenient, but using a hardware wallet for security gives you extra security.  From your point of view, since you are now using two types of wallets, it will give you a good balance between security and convenience.

[KryptoBull]

This is very important to think about your crypto security.  Here are the answers to your questions: Using TrustWallet: TrustWallet is a popular and readily available option for many.  Although there have been reports of some security issues, TrustWallet generally takes quick steps to keep their users safe.  If you're hesitant to use a new app or service, it's true that many users have used TrustWallet and most are satisfied with their experience. Overall, using a crypto wallet app on a smartphone is convenient, but using a hardware wallet for security gives you extra security.  From your point of view, since you are now using two types of wallets, it will give you a good balance between security and convenience.

I also consulted with many forum members and gained a lot of insights into the issues with TrustWallet. However, I'm already too familiar with TrustWallet and don't want to spend time learning about other crypto wallet apps on the market. I trust Binance, so I'll probably continue to trust TrustWallet.

Investors should have multiple personal accounts because they are usually free, except for some blockchains in the Antelope ecosystem (Eos, Wax, Telos...). And it would be better if they were created and managed on various crypto wallet apps across different hardware devices. Caution is never excessive in this risky crypto market.