Seeking for knowledge

[arufox]

trust wallet is not an opensource wallet. It doesn't matter whether it's an open source wallet or not but when you are storing a lot of money in your wallet and you must try to make your the key to open your wallet will be in the safe place. I mean your wallet will be secure when you are the only one who know how to open your wallet.
I have used electrum, exodus and various wallet to store small - big amounts of crypto.

As long as you can keep your key in the safe place and your money will be safe.

It doesn't matter whether it's an open source wallet or not, Yes I agree with this, the most important of the crypto wallet is the private key. I also use many kinds of wallet but I never do research first that the wallet open source or not because is not important for me, I just keep in my mind that the private key is kept in a safe place. And until now all safe

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[konflikkastil]

I love this question, that was the same question I asked when I joined Cryptocurrencies few years ago. And I was thoroughly thought on what to do before embarking on any project. It doesn't matter whether the wallet is from a open source or not. The first step to take after opening the wallet is to backup the private key immediately. In order to avoid future lost of your coins. And it must be backed up in a very secure place. Just few weeks ago, some of my friends lost their coin, because they couldn't find the private key to the account.

[fer_coinomi]

Hi guys, I have a question for you all about crypto wallet, must a crypto wallet be fully open source to have peace while using them to store large amount of money? And is trust wallet a half baked open source wallet or full open source? Thank you

You don't have to worry about trust wallet because its hundred percent open source unlike coinomi wallet that has some kinda backdoor, I heard people their coins using coinomi pc wallet, I believe that happens because it's closed source, no such issue with trust wallet, make sure you keep your recovery seed safe

Hi Gorosden, being open source is not a synonym of being secure. Open source projects have their own attack surface and can also be target of hacks or vulnerabilities. Furthermore, if you are installing a wallet from the app store, there is no guarantee that the app you are getting comes from the source you see on github. If you are not compiling the app from source, it's not any different than installing a closed-source app. People lose coins no matter what wallets they use. None of Coinomi's millions of users have lost coins due to issues in the app since it was launched more than 6 years ago, there is no backdoor. Reports of such losses have been tracked to poor user security practices or compromise of their private data in some other side channel attack, like saving seeds on an email or other cloud service. You can read about Coinomi's security here: https://coinomi.freshdesk.com/support/solutions/articles/29000016248-how-safe-are-my-funds-how-are-my-private-keys-stored-

[fortunecrypto]

Hi guys, I have a question for you all about crypto wallet, must a crypto wallet be fully open source to have peace while using them to store large amount of money?

It should be open-sourced, so people will trust them and developers can check them if there are loopholes and they can recommend the bugs in the loopholes, we don't want to entrust our coins to wallets that are questionable, developers should be transparent when it comes to wallets.

I'm using both a custodial and noncustodial wallet, I use a noncustodial wallet if I'm going to trade and a custodial wallet for storing my coins and I only trust wallets that has a good reputation it's better to be carful than sorry in the end.
 

[Gunday_07]

Hi guys, I have a question for you all about crypto wallet, must a crypto wallet be fully open source to have peace while using them to store large amount of money? And is trust wallet a half baked open source wallet or full open source? Thank you

Open source or closed source isn't the most important mate, keeping your private key safe should be your first priority, I've used coinomi wallet (fully closed source) for many years now and also trust wallet( open source) and I've never had any bad issues like losing funds or something like that, keep your keys safe as this is the only thing that can get your assets compromised

[aemma]

It is open source hence the amount of users they have. Trust wallet has built its reputation over the years which of course can be seen in the number of users. Also, one of the things that really matters when checking the wallet to use is if the wallet gives you the opportunity to own your private keys, because by owing your private key, you can be rest assured that the security of your assets is complete. Furthermore, so far I have not come across any issue with trust wallet or complaints from people about it, hence to a great extent I can say the wallet is trustworthy. Although there are still others like Imtoken which has been around for a long time as well, but it looks like Trust wallet offers more advanced and user-friendly features.
Lastly, if you are skeptical about keeping large funds, then try hardware wallets.

[Novatech8]

Hi guys, I have a question for you all about crypto wallet, must a crypto wallet be fully open source to have peace while using them to store large amount of money? And is trust wallet a half baked open source wallet or full open source? Thank you

trust wallet is not an opensource wallet. It doesn't matter whether it's an open source wallet or not but when you are storing a lot of money in your wallet and you must try to make your the key to open your wallet will be in the safe place. I mean your wallet will be secure when you are the only one who know how to open your wallet.
I have used electrum, exodus and various wallet to store small - big amounts of crypto.

As long as you can keep your key in the safe place and your money will be safe.

The team claimed that trust wallet is an open source wallet but another source said that only IOS version of trust wallet app is fully open source and the android part are closed source, whatever it maybe shouldn't be a problem, we can't even really tell if hardware wallets are complete open source or closed source so better worry more about keeping your private keys safe instead

[ekeh]

Cryptocurrency Market is a very wide industries that is growing rapidly, which needs to seek for more knowledge to keep your self upgraded into the Blockchain technology, hence, the trust wallet account is a part of blockchain usage, and is more secure, easy and faster in usage of any given transaction.

[perla]

I think it's necessary for wallets to be open source so we could know if that is a really safe to use. Well it's also good to be open source on some software also an off topic note but I think it's a little bit important to. Always verify the installer or software you are downloading for extra security.

[plr]

Hi guys, I have a question for you all about crypto wallet, must a crypto wallet be fully open source to have peace while using them to store large amount of money? And is trust wallet a half baked open source wallet or full open source? Thank you

There are trusted open sourced wallet and they are very popular investors and holders why trust close or semi open source when there are wallets that are open source and well establish wallets, don't take the risk, it's your coin that you are going to put there.

[Furryball]

Hi guys, I have a question for you all about crypto wallet, must a crypto wallet be fully open source to have peace while using them to store large amount of money? And is trust wallet a half baked open source wallet or full open source? Thank you

Don't store large amount of coins on a hot wallet it's not safe, it's better to buy a hardware wallet for coins that worth huge amount of money, also trust wallet is open source as we are told but I'm not an expert in this field so I can't even tell the side between an open source wallet and a closed source wallet.

[fileo]

First thing first, what is open source crypto wallet?

It is a software program to manage digital money by storing private and public keys, and interact with various blockchains to enable users to send and receive digital currency and monitor the balance. The Top Open Source Cryptocurrency Wallets - open ...
In addition...
What is open source?
The computer code undergirding each major cryptocurrency and open blockchain project is developed as open source software. ... Open source software is collaboratively produced, shared freely, published transparently, and developed to be a community good rather than the property or business of a single company or person.What is “open source” and why is it important? - Coin Center

[safari88]

Hi guys, I have a question for you all about crypto wallet, must a crypto wallet be fully open source to have peace while using them to store large amount of money? And is trust wallet a half baked open source wallet or full open source? Thank you

it's a really sensitive software since you are going to store your money on it so every user should verify the wallet itself and it can only be achieve by making it an open source software. i personally prefer open source wallets since it should be trusted.

[zeingrind777]

Hi guys, I have a question for you all about crypto wallet, must a crypto wallet be fully open source to have peace while using them to store large amount of money? And is trust wallet a half baked open source wallet or full open source? Thank you

It's best not to keep too much money in a mobile wallet, even if it's decentralized and opensource. Many risks can occur if you save a lot of money on your cellphone. It's a good idea to keep a lot of money in a hardware wallet and keep it in a safe place.

[Ayapp]

I think trust Wallet source depends on phone OS, ios is opened source while Android is closed. Well large or small I have all my holdings on my trust Wallet and I've never had problem with it or read any bad reviews.

[Tomtomwole]

Majority of these days wallets are not open source. Mycelium, Electrum, Copay are some of popular open source Wallets. Although trust Wallet is good and it claims to be open source.

[marilynmanson21]

Hi guys, I have a question for you all about crypto wallet, must a crypto wallet be fully open source to have peace while using them to store large amount of money? And is trust wallet a half baked open source wallet or full open source? Thank you

Yes, the Wallet Code must be open source, so that everyone can see and no one is harmed, one should not hesitate because they can check the code on the wallet themselves. And for TW I'm not too sure what you mean, because as we know, TW is a trusted wallet.

[SabrinaBianka]

Hi guys, I have a question for you all about crypto wallet, must a crypto wallet be fully open source to have peace while using them to store large amount of money? And is trust wallet a half baked open source wallet or full open source? Thank you

I'm sure the wallet was non-custodial is also its open source. I thing we can do more research about wallets, And as I know the better wallet for is non-custodial because we have a private key/back up key to restore if we did some problem like our mobile phone crashed. That is the best thing for non-custodial instead of custodial wallet. Custodial wallet, can control by the developer of the wallet because they holding the private key. We need only trust for them so we can store crypto. But until when right?

[Rowenta]

Well the truth about crypto wallet is keeping your private keys very safe, been open source isn't going to automatically keep your private keys for you, the only way that hackers or  bad friends can get access into you wallet and move funds behind your back is been careless with your private keys or fall for some kind of phishing attempts while browsing the internet

[Eddyc]

This will depend on what you are looking for and how much confidence you have in an open source wallet. In my opinion the best option is a hardware wallet where we can be sure that the failure will be only if we make a personal mistake. On the other hand, an open source wallet can guarantee speed and immediacy.

Thinking about security is our obligation but lately all varieties of wallets are being safe.