How secure are my funds Trust wallet?

[bl9ckbox]

Hi bitcointalk, I store my bitcoins in my trust wallet. I feel or used to feel it was the safest wallet to use because of the seed phrase feature it has. I have my private keys on paper somewhere safe. Everything was going well until this morning. I got the breaking news: Trust wallet has been removed from apple store. The trust wallet team are reassuring us on Twitter that our funds are safe but I’m not so sure anymore. If apple can take them down, android play store can do the same. What happens then?

https://www.[Suspicious link removed]

I attached a screenshot of the message broadcast from Trust official Twitter https://i.ibb.co/fqHdDGZ/3-AFDDAC1-EA67-45-AC-ABF0-D48-A4-AD19-C87.jpg

[Chipard]

You can import your seedphrase to Metamask https://metamask.io/download.html then transfer your funds to electrum or much better in hardware wallets as it is recommended to me who I also using trustwallet, i'll transfer my holdings soon to hardware wallet.

[Pokapoka124]

Not recommended or outdated Wallets
These wallets are either not-recommended for some reason or outdated. You should not use them! Please note that here we only list wallets that were previously on the list, or were suggested to be included by others. This does not include ALL wallets that exist and are not recommended. Wallets that are strongly not recommended:
Copay, Bitpay, Blockchain.info, BTC.com — untrustworthy, misleading customers, high fees, lacking implementation.
Mycelium — iOS app has been abandoned. Mycelium team was involved in various unethical scandals, e.g. raising money from ICOs, partying with the collected money and more.
Multibit — This wallet is discontinued: https://bitcointalk.org/index.php?topic=2293714.0.
Coinbase, Freewallet — Custodial wallets. Freewallet has also many scam accusations against it.
Ledger HW.1, Ledger Unplugged — Discontinued hardware wallets.
Bitfi - John McAffee's "unhackable" hardware wallet, named also as “the world’s first unhackable device”. Besides McAffee's notorious lack of ethics and besides the admitted vulnerabilities of this product, McAffee offered in 2018 a 100.000$ bounty (raised afterwards to 250.000$) to anyone able to hack the hardware wallet. One week later, a 15 years old teen cracked the wallet and launched Doom on it, but he never received a dime from McAffee.
Coinomi — Initially open source, then changed again to closed source. Had controversial situations in the past. More information can be found here.
Trust Wallet — Mislead users that it was open source (only iOS app was). Later both versions of the wallet became closed source. They have not provided a reasonable explanation for this. More information can be found here, and here.
Exodus — high fees (not customizable), security flaws, sync problems.]

Trust wallet isn't the best wallet to use. Trust wallet is closed source meaning the code is not available to the public, the developers can make changes in the wallet without the public knowing.  Educate yourself on [General] Bitcoin Wallets - Which, what, why?

[NeuroticFish]

I feel or used to feel it was the safest wallet to use because of the seed phrase feature it has.

As said it's closed source. Even more, while you are on the right track by choosing a wallet where you do have the seed, you should read about the dangers of hot wallets too.
(If your device is stolen or you install by mistake a malicious software, you can lose your funds, hence this kind of solution is only for small funds. For larger funds learn about hardware wallets and cold storage.)

I have my private keys on paper somewhere safe. [...] If apple can take them down, android play store can do the same. What happens then?

Since you have the seed, you should be able to recover your wallet with another wallet software; but I've never used Trust wallet and I don't know if it's a standard seed, compatible with other wallets or not.
On the other hand you can act from now and:

1. Install a more widely compatible wallet to your device. I'll assume it's an Android phone and there the best choice is Electrum[1] (reputed, open source). Generate safely a new wallet onto Electrum and make sure you save the new seed carefully.
2. Send your bitcoin from Trust wallet to Electrum (and make sure you double check the recipient address is correct!)

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[1] For installing go to https://Electrum.org , download page, and click there the google play link to make sure you don't install a malicious clone.

[rat03gopoh]

Just keep an eye on trustwallet's twitter updates (this is the latest one). To ensure that your funds are safe, you just have to check them in the address explorer. Just want to know how it works since I'm not an Iphone user, will the app stop working if it is delisted in appstore and it applies to all apps?

You can import your seedphrase to Metamask

However, it is even more discouraged to import private keys or seedphrases in many different apps.

[BIT-BENDER]

I store some of my Bitcoin on trust wallet although not much, I still don't get scared that my coins are on the platform, trust wallet is more secured than having your coin stored in an exchange wallet, I have some Bitcoin also on electrum and I feel most secured her I don't really have anything against trust wallet. I also recommend it to newbies and even old users.

[bl9ckbox]

Chipard metamask is an online wallet, the same thing can happen to them. I googled hardware wallets, a couple of results came up. The prices of hardware wallets are quite high plus shipping from Amazon but if it will give me the security I need I don’t mind paying. Does anyone have experience with Trezor/nano wallet?

[Yamifoud]

Hi bitcointalk, I store my bitcoins in my trust wallet. I feel or used to feel it was the safest wallet to use because of the seed phrase feature it has. I have my private keys on paper somewhere safe. Everything was going well until this morning. I got the breaking news: Trust wallet has been removed from apple store. The trust wallet team are reassuring us on Twitter that our funds are safe but I’m not so sure anymore. If apple can take them down, android play store can do the same. What happens then?

Many of the forum members will suggest using a hardware wallet for high security but the question is it really need for us? Are the funds(amount) are we holding are worth enough because hardware wallet is expensive and we have to consider that.

But I believe using a trust wallet is also safe if we did these things...
https://trustwallet.com/blog/7-top-5-crypto-wallet-security-tips

In fact, I even use another mobile app for many years but never happens I was hacked, it really depends on how the user used it.

[dansus021]

just give my opinion i have been using trust wallet for almost 3 years now its from Q2 2019 and its work fine to me especially with the DAPP and the app is run smoothly in my android phone

Trust wallet is app that been acquires by binance https://www.binance.com/en/support/announcement/360010790652 so u must know that binance always talk about #SAFU 

back to the question How secure are my funds Trust wallet? as long ur never share ur private keys to anyone else and never get in touch/approve fishy/scam token contract u should be fine

but u know every product has always two side and remember that no system is safe 

[Despairo]

You can import your seedphrase to Metamask https://metamask.io/download.html then transfer your funds to electrum or much better in hardware wallets as it is recommended to me who I also using trustwallet, i'll transfer my holdings soon to hardware wallet.

Keep in note: importing the seed pharse firstly created on Trustwallet to other wallet doesn't make your funds 100% safe, because we don't know the closed source part on Trustwallet, could be they have a command to view everyone seed pharse. So better transfer it to new created address on secure wallet.

Trust wallet is app that been acquires by binance https://www.binance.com/en/support/announcement/360010790652 so u must know that binance always talk about #SAFU 

SAFU is just a marketing advertisement by Binance to convincing anyone if their exchange is safe fully 100% since any loss from any attack will be refunded. But if the hacker have access to any wallet by Binance e.g. hot wallet, SAFU, etc. I doubt Binance can refund to all their clients.

[pakhitheboss]

For long term hodling always use a hardware wallet. If you do not want to do that then store your Bitcoin in a desktop wallet. Being a closed source wallet doesn't necessarily mean that it is a bad wallet. Ledger hardware wallet are also close source but are the most recommended hardware wallet. 

You can read this article to find the reson why Trust wallet was removed from the Apple store.

[windlereveT]

If you hold a coin for a long time, it is recommended to use a hardware wallet. I find the problem of unlisting from the appstore is also a normal problem. sometimes some apps violate apple policy and get taken down

[Charles-Tim]

Trust wallet has been removed from apple store.

It's on google playstore, this only affected the iOS.

Trust wallet is close source, not a wallet I can recommend. But let me use Electrum as an example, I do not know if Trustwallet also has direct download link on their website which you do not have to be redirected to iOS store. For Electrum, this is the direct download link https://electrum.org/#download, we do not have to go to any app store for download. Is it like that for Trustwallet? Check if you can download it directly from Trustwallet website. I will advice you to use Electrum for bitcoin while open source hardware wallet is the good available option for altcoins, having your bitcoin on hardware wallet is also safer.

So, because an app is removed from playstore, that does not mean the security is compromised so far the wallet is reputed. What is most important is to verify PGP signature if you want to download a wallet from a website but I do not know if Trustwallet include PGP signature.

[Mpamaegbu]

I feel or used to feel it was the safest wallet to use because of the seed phrase feature it has. I have my private keys on paper somewhere safe.

Well, Roqqu and Freewallet also have seedphrase features but that doesn't make them safe. Don't count on that to think a wallet should be safe. Yes, I know the story of Trust Wallet being a close source wallet but I don't believe the developers would want to do anything criminal by playing with investors' funds knowing it would destroy its reputation. Remember, it has some connection with Binance. It could be any other thing apart from a motif to act criminally that made apple to remove that app from its store. I believe we're good with TW. Even the TW token has being soaring since this week, showing that the news you shared here didn't affect it. I've been using the TW app since early last year and haven't had any issues with it.

[JangoUnchained]

Closed source or open source isn't something I want to debate about, the danger of using a crypto wallet lies in the types that keeps private keys to themselves for example free wallet and luno, trust wallet is way better in this case keep your keys safe and nothing will happen to your coins.

[XUR_TIP]

Trust wallet isn't fully open source that's the problem, I trust electrum more than trust wallet, if all you have is your smartphone look for an open-source wallet to store your coins, if you have some cash on you buy hardware wallet.

[KingsDen]

Hi bitcointalk, I store my bitcoins in my trust wallet. I feel or used to feel it was the safest wallet to use because of the seed phrase feature it has. I have my private keys on paper somewhere safe. Everything was going well until this morning. I got the breaking news: Trust wallet has been removed from apple store.

Hi, trust wallet is a reputable wallet and I am convinced that your funds are safe. I know you aren't affected because you use android as your post implied. Saying Trust wallet is the safest wallet is a gross exaggeration. There's no how a hot wallet would be the safest cryptocurrency wallet.

Saying about the source coding of Trust wallet. Many people are saying that Trust wallet deceived the public to believe that their protocol is open source while it is close source. I do not believe this. No one deceives anyone, the information is available for investigation by all. Unless you say they were open source and later changed to closed source. I do not know how possible it is too.

[khaled0111]

The prices of hardware wallets are quite high plus shipping from Amazon but if it will give me the security I need I don’t mind paying. Does anyone have experience with Trezor/nano wallet?

I wouldn't recommend buying hardware wallets from Amazon or any other third party unless you are certain you know how to verify its genuineness and that it hasn't been tampered with. You should buy it directly from the manufacturer or from one of their official resellers.

OP, afaik, trustwallet uses the bip39 standard, so even if it stops existing you can always import your wallet into any other wallet that supports this standard.

[TreyARC]

Metamask is even worse, I trust trustwallet more than Metamask if I have the option to choose between the two, it's better to wait till trust wallet team fix the problem which I believe they will since the wallet belongs to binance exchange.

[Dillonhebist]

https://electrum.org/
https://bluewallet.io/
https://ledger.com/
https://trezor.io/

You can also download any of this wallet listed above since you have your seed phrase with you, your wallet can be restored.

Make sure when downloading it you clicked on the Google play link so that you won't download a Clone one.