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Author Topic: Is Trustwallet Safe?  (Read 1254 times)
danherbias07
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October 09, 2022, 10:21:33 AM
 #61

I have this installed on my smartphone but I usually just use it for small transactions and leaving a little fund for payments in NFT games. But whenever I sell my other coins that were earned from play-to-earn games I sell them quickly for BNB and then put them in safer storage.
It's not recommended to keep large amounts there. Just like the rule with an exchange, it may make your life easier storing your funds there but it will never be safe. There's always a chance something could go wrong leaving your money to disappear.

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October 09, 2022, 10:44:22 AM
 #62

Hardware wallets are the most recommendable for any crypto investors but if you can be very careful which platform you engage with then there will be no problem using a hot wallet like Trust wallet, the reason why hot wallets get hacked easily is because of how users handled the wallet.
It's not all of people can afford to pay hundreds bucks just to get hardware wallet but this is a good choice if he has enough money to buy it. Even if you are using hardware wallet if someone didn't manage to secure their wallet properly and it can still be hacked by scammers.
There are so many scammers these days that tried to hijack your money through use various method. Remember some people who became victim by scammers even they were using hardware wallet.

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October 09, 2022, 01:58:04 PM
 #63

If your key is compromised then sorry It doesnt matter the wallet your funds will get wiped out although metamask is the most popular among EVM trustwallet is okay to use especially if you dont move much around DEFIs But when you move too much and trade alot I think metamask will be the best choice as some protocols wont support Trustwallet Also try not to sign anything you see online

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October 09, 2022, 02:12:52 PM
 #64

This is a self-custody wallet you are the one holding the crypto the whole time and when you earn interest is not through c5 instead it is to true defy you to own the keys this it's not to say that defy doesn't have its own set of risks when using something like trust wallet you have the option to just simply hold your crypto or if you want you to have the option to participate in d5.

for example with something like a trusted wallet if you enter an interest you can do this by staking defy lending providing liquidity yield farming and nft farming this is entirely different in this case you are giving your money to smart contracts or you are delegating your rights to a staking protocol in that case though there are risks of hacks there is a risk of smart contract bugs again you do not have to participate in this type of interest-earning and when it comes to staking with trust wallet

most of the crypto that you stake is self-custody staking meaning that you hold on to your coins all you are doing is delegating your voting right so the risk there is that the validator or the staking poll won't pay you the rewards but you get to hold on to your coins so the risk is on the lower end so when it comes to trust wallet you can simply use it and just hold your crypto on there you don't have to participate in d5.
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October 09, 2022, 02:23:49 PM
 #65

I have several trust wallet accounts, but so far there are no problems or other problems. most of those who experience problems due to their own mistakes so that phishing occurs which many experience. As long as our key phrase doesn't fall into the hands of others, I think security can be maintained

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October 09, 2022, 02:59:01 PM
 #66

Trust wallet is a software wallet. I think no software wallet is safe. You can use hardware wallet. It is safer than any software wallet. If you want to use Trust wallet, you need to write the seed phrase of your wallet very carefully. Trade can be done on dex exchange from trust wallet. You should visit the dex site very carefully while doing this trade. Because if you visit a phishing site, your wallet will be hacked.

It is true that software wallets cannot be compared with hardware wallets, but today's software wallets also have a certain level of security. I think the level of security will depend on how people use it rather than the level of security it provides.

Even a hardware wallet if you don't use it securely and subjectively think it's a hardware wallet it will always be safe, I believe your assets will still be hacked as usual. If you have the conditions, you should use a hardware wallet, highly recommended. If you do not have the conditions, then a software wallet is the right choice. The most important thing is how you use and maintain it

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October 09, 2022, 04:56:14 PM
 #67

Trust wallet is a software wallet. I think no software wallet is safe. You can use hardware wallet. It is safer than any software wallet. If you want to use Trust wallet, you need to write the seed phrase of your wallet very carefully. Trade can be done on dex exchange from trust wallet. You should visit the dex site very carefully while doing this trade. Because if you visit a phishing site, your wallet will be hacked.

There's no such safe in crypto even hardware is still not 100% risk free since it can be physically stole from you by thief in your house. This is same with software wallet and other wallet with open source feature. Although software wallet is highly relying on its developer its still safe if we use the tolerable level safety and not the typical paranoid safety because there is nomsuch wallet that offers 100% safe. It's still up to the user how they will increase there chance of safety of there wallet.

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October 09, 2022, 05:07:16 PM
 #68

There are many cryptocurrency wallet softwares like metamask, trustwallet. I'm currently using Trustwallet to store my cryptocurrencies. I heard some people say that it can be hacked!
Can people hack my trustwallet?
Is it safe?
How to protect my trustwallet account?
Thanks in advance ♡
If you want to store long-term assets, it is not recommended to use a Trustwallet wallet, but if your goal is to make it easier when you want to interact with Dapp or when you want to swap with several decentralized exchanges (CEX) maybe a Trustwallet wallet can make it easier for us to do this, but because Trustwallet is a wallet open source which cannot guarantee high security for its users so it needs to be considered first if you want to keep using the wallet.

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October 09, 2022, 05:21:38 PM
 #69

Trustwallet safe is use for saving assets only without make any swap or transaction and connecting to several dapp exchange market, the problem why many people got their turstwallet hacked because connected and approving with new dapp exchange market trough trustwallet connecting, give allowed third party can access to trustwallet and make this way why hacked cases happen. Saving assets is better at hardware wallet but keep safety when using trustwallet if not any connected on dapp exchange market, another step keep safety using trustwallet not allowed to swap with dusting attack token.

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October 09, 2022, 06:55:20 PM
 #70

I have a Trustwallet and I've been using it for a long time but in crypto transactions only. As much as possible, I don't store funds in software wallets. So far, I don't have any issues with Trustwallet but I prefer assurance so when it comes to storing my funds, I use a hard wallet for my protection. If you prefer security, you better use a hardware wallet.
storing in trust wallets for a very long term is not recommended because hardware wallets are safer than software wallets,
but if you use truswallet only for purposes then trust wallets are very safe, I also use trust wallets and also to hold some coins from airdrops and until now it is still safe.
because trustwallet has features that are very supportive in the crypto world, it is only natural that trust wallets are a favorite,
especially since TWT is also listed on Binance, meaning that Trustwallet is strongly supported by Binance.

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October 09, 2022, 06:58:44 PM
 #71

There are many cryptocurrency wallet softwares like metamask, trustwallet. I'm currently using Trustwallet to store my cryptocurrencies. I heard some people say that it can be hacked!
Can people hack my trustwallet?
Is it safe?
How to protect my trustwallet account?
Thanks in advance ♡

I have been using this wallet for a long time, and I can't say anything bad about it. At the same time, I can't say that it is a good option for storing my cryptocurrencies. It is exactly the same questionable option as any other mobile wallet. As written here before, the best solution is a hardware wallet. Many people are too lazy to buy a hardware wallet and hope nothing bad happens to them and that the wallets they use will never be compromised. If choosing between online wallets, I would choose metamask over trustwallet.

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October 12, 2022, 08:24:20 AM
 #72

In crypto nothing is really "safe", they are safe until they are no longer safe and that's a bit of the problem. The safest choice is always having your own wallet, there are a lot of cold wallets out there and you could use them, ledger nano for example is a very famous one that you could use. When you are using anything else, there are always risks involved and hackers will try to find a way to destroy it for you.

I am not saying that it will be easy, it could be very very tough, it could take many years, maybe even 10 years, but there is no guarantee that it will never be hacked. That is why you should at all times be very careful about where you are putting your money.

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October 12, 2022, 08:56:05 AM
 #73

if you want to hold a huge amount of cryoto then Trustwallet us not safe for you. But if you are a bounty or airdrop hunter anf you need a munti chain supported wallet for received reward. then trust wallet wouldn’t be a big problem for you. But if you are a holder then trust wallet is not a safe place to hold crypto. here you should use a hardware wallet for keep safe your money.
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October 12, 2022, 09:11:45 AM
 #74

if you want to hold a huge amount of cryoto then Trustwallet us not safe for you. But if you are a bounty or airdrop hunter anf you need a munti chain supported wallet for received reward. then trust wallet wouldn’t be a big problem for you. But if you are a holder then trust wallet is not a safe place to hold crypto. here you should use a hardware wallet for keep safe your money.


I think if we want to store all the assets in 1 wallet then Trust Wallet is a good solution, I keep all the assets in 3 accounts namely Trustwallet, ERC20, and Exchanges Wallet, because I focus a long -term focus so I save with the biggest portion in Trust Wallet.
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October 12, 2022, 11:46:39 AM
 #75

Quote
Trustwallet is also close source. You do not know what Trustwallet developers are doing behind. I can not advice anyone to use close source wallet.
I currently use trustwallet for some of my Defi trades and others like Imtoken for mostly ERC20 and Metamask extension for more complex trades. When you said "Trustwallet is closed source" does this mean they can track your recover phrase or Private keys at the backend? Many persons have complained that their trustwallet got hacked, I have had to defend trustwallet team when they blame the developers for the hack. This closed source gives me concern. Please, what's the difference between Trustwallet, Imtoken,Safepal, tokenport and Metamask in terms of security and source code? Thanks

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October 12, 2022, 02:13:02 PM
 #76

In my opinion i am using trust and metamask from the first day of starting my crypto journey. And i didnt face any problem.  Its always safe if you not connect your wallet on any suspicious dapp or website. And also obviously not share your private key or seed to anyone. Then you always safe.

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October 12, 2022, 02:24:08 PM
 #77

Trustwallet has received a strict recognition and audit that it is worthy of being a safe wallet, I have used trustwallets for about 2 years, and have never met problems, even I use it to trade at Dex Exchanges and everything is smooth and no problem.
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October 12, 2022, 06:56:29 PM
 #78

if you want to hold a huge amount of cryoto then Trustwallet us not safe for you. But if you are a bounty or airdrop hunter anf you need a munti chain supported wallet for received reward. then trust wallet wouldn’t be a big problem for you. But if you are a holder then trust wallet is not a safe place to hold crypto. here you should use a hardware wallet for keep safe your money.


I think if we want to store all the assets in 1 wallet then Trust Wallet is a good solution, I keep all the assets in 3 accounts namely Trustwallet, ERC20, and Exchanges Wallet, because I focus a long -term focus so I save with the biggest portion in Trust Wallet.
Yeah, trust wallet is very handy because you can store different network coins, it’s a multi-chain wallet that's the biggest advantages on this wallet. I would like to recommend, if your focus for long term holding then will never hold your coins in the trust wallet or exchanges wallet, you should to buy hardware wallet because it’s a offline wallet and your assets will be more safe then others online wallets.

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October 12, 2022, 07:40:59 PM
 #79

Trustwallet has received a strict recognition and audit that it is worthy of being a safe wallet, I have used trustwallets for about 2 years, and have never met problems, even I use it to trade at Dex Exchanges and everything is smooth and no problem.
Trustwallet is well secure and one of the credible and trusted wallet online, though it's advisable not to hodl huge amount of coin in it, I will rather use it to hodl small amount of coins, I had been using the wallet for a long time without any issue, it has a good user interface and easily navigable and it has the ability to store many coins it also has link directed to it's social media platforms like telegram, facebook, twitter, Reddit etc you can also connect it with other wallets, it can also be used to swap and exchange with other coins which is added feature that is not common with other wallets.

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October 12, 2022, 08:00:24 PM
 #80

Trustwallet has received a strict recognition and audit that it is worthy of being a safe wallet, I have used trustwallets for about 2 years, and have never met problems, even I use it to trade at Dex Exchanges and everything is smooth and no problem.
Trustwallet is well secure and one of the credible and trusted wallet online, though it's advisable not to hodl huge amount of coin in it, I will rather use it to hodl small amount of coins, I had been using the wallet for a long time without any issue, it has a good user interface and easily navigable and it has the ability to store many coins it also has link directed to it's social media platforms like telegram, facebook, twitter, Reddit etc you can also connect it with other wallets, it can also be used to swap and exchange with other coins which is added feature that is not common with other wallets.

I admit that Trustwallet has a good reputation and can be said to be one of the most recommended online wallets. Because I've been using
Trustwallet for quite a while and so far I'm quite satisfied with Trustwallet's performance. Especially with all the advantages you have described
about Trustwallet, makes us feel safe and comfortable using Trustwallet to store our cryptocurrencies. But when compared to hardware wallets,
Trustwallet's security level is not as good as hardware wallets. So if we really want to be more secure in storing crypto we have the best choice is
to still use a hardware wallet.

The problem is that the hardware wallet price is quite expensive, making some people object to having to spend money to buy a hardware wallet.
If the situation is like that, we can just use Trustwallet in the end. Most importantly, it would be better if we don't store large amounts of crypto when
using Trustwallet. To minimize the risk of losing all of our crypto, it's a good idea to store our crypto in several online wallets.

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