Do you continue to trust Trust Wallet?

[Macro Exchange]

For greater control and security, we consider managing our crypto in a personal crypto wallet instead of leaving it on CEXs. To interact directly with blockchains and manage crypto, we need a crypto wallet application. In the past, I used the MEW website for Ethereum account management. Since 2020, I've preferred mobile apps, specifically TrustWallet on iOS. I still rely on it on my old iPhone for occasional crypto trades.

While I've enjoyed using TrustWallet as a regular user - it's fast, user-friendly, and supports a wide range of blockchains ^[1] - recent security concerns require attention: SECBIT Labs, a security research firm (not affiliated with the SEC), identified a potential vulnerability in TrustWallet's iOS app. This issue allegedly stemmed from code using functions meant only for testing. These functions could have generated weak private keys, making it easier for attackers to steal crypto from affected accounts. The timeframe in question is for wallets created between February and August of 2018 ^[2].

While I'm glad I missed the 2018 TrustWallet vulnerability, it raises concerns about potential unknown issues. After all, even established hardware wallets like Ledger had problems recently ^[3].

While I've been a loyal TrustWallet user, recent events have prompted me to diversify my crypto storage. I'm trying out SafePal on iOS for additional security. Hardware wallets have also piqued my interest, and I plan to research and invest in one soon using some of my uptrend gains. There's no denying the convenience of mobile crypto wallets, but it's a trade-off for the enhanced security hardware wallets offer.
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

I have TrustWallet, but I don’t use it often. My main wallet is MetaMask since it’s super convenient for Web3 apps and supports multiple networks.

When it comes to security, hardware wallets (smth like Ledger or Trezor) are the safest option for long-term storage. Since they’re offline, the risk of hacks is way lower.

It’s interesting how even the most popular wallets had issues in the past:
- TrustWallet – vulnerability in 2018 due to weak private keys.
- Ledger – customer data leak in 2020 (led to phishing attacks).
- MetaMask – multiple fake versions on the App Store...

In general, mobile wallets are great for quick transactions, but for serious security, it’s best to use a mix: MetaMask for daily use and a hardware wallet to keep funds safe.

[hyudien]

• 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?

I haven't used Trust Wallet for a long time but the addresses created from Trust Wallet are still used and imported into other wallet applications such as OKX, Bitget, Zerion, and Metamask. All with the same address because for me the wallet application is just a temporary alternative. Regarding Trust Wallet, of course I believe it because so far I have never had a problem or lost assets. Back to the user himself if he remains careful with any wallet application be it Trust Wallet, OKX, Bitget and so on, it remains safe with the implementation of 2nd step security through the authenticator.
Hardware wallet is clearly very important, at least from the many types of hardware wallets, choose 1 that you think is affordable, if you have investment assets such as Bitcoin and you are a long term investor then Hardware wallet is recommended.

[Marvell1]

I haven't used Trust Wallet for a long time but the addresses created from Trust Wallet are still used and imported into other wallet applications such as OKX, Bitget, Zerion, and Metamask. All with the same address because for me the wallet application is just a temporary alternative. Regarding Trust Wallet, of course I believe it because so far I have never had a problem or lost assets. Back to the user himself if he remains careful with any wallet application be it Trust Wallet, OKX, Bitget and so on, it remains safe with the implementation of 2nd step security through the authenticator.
Hardware wallet is clearly very important, at least from the many types of hardware wallets, choose 1 that you think is affordable, if you have investment assets such as Bitcoin and you are a long term investor then Hardware wallet is recommended.

But there is one common feature to note about the wallets (except metamask) you are referring to: they are all closed source. While there have been no serious incidents or reports of them being unsafe, being closed source is a drawback that we should not ignore. To ensure the best security and privacy for crypto assets, we should use open source and non-custodial wallets.

Similar to hardware wallets, we should only use open source wallets like Trezor, and stay away from closed source and opaque ones like Ledger.

[milewilda]

I haven't used Trust Wallet for a long time but the addresses created from Trust Wallet are still used and imported into other wallet applications such as OKX, Bitget, Zerion, and Metamask. All with the same address because for me the wallet application is just a temporary alternative. Regarding Trust Wallet, of course I believe it because so far I have never had a problem or lost assets. Back to the user himself if he remains careful with any wallet application be it Trust Wallet, OKX, Bitget and so on, it remains safe with the implementation of 2nd step security through the authenticator.
Hardware wallet is clearly very important, at least from the many types of hardware wallets, choose 1 that you think is affordable, if you have investment assets such as Bitcoin and you are a long term investor then Hardware wallet is recommended.

But there is one common feature to note about the wallets (except metamask) you are referring to: they are all closed source. While there have been no serious incidents or reports of them being unsafe, being closed source is a drawback that we should not ignore. To ensure the best security and privacy for crypto assets, we should use open source and non-custodial wallets.

Similar to hardware wallets, we should only use open source wallets like Trezor, and stay away from closed source and opaque ones like Ledger.

Dont know whenre you do get about TW to be closed source.

If you do try out to search;

Open Source
Trust Wallet operates under a GPL open source license. Details regarding Trust Wallet’s current software can be found at https://github.com/TrustWallet. As the software development is steered by a community, under open-source ethos, it’s accessible, usable, and shareable (in modified or unmodified form) for anyone. Be advised that GPL operates as a copyleft license, meaning any derivative creations must be distributed under the same license conditions as the parent software. For further clarity, you’re encouraged to review GNU’s terms and conditions at https://www.gnu.org/licenses/gpl-3.0.en.html.

Source: https://trustwallet.com/terms-of-service

I dont have any issues on using up TW on storing up some coins but i do mostly make use of Metamask all the time.
Speaking about issues then TW do have even more but i do believe that this is mostly because of human error
https://www.reddit.com/r/trustwalletcommunity/comments/150qpcp/trust_wallet_hacked_trust_vulnerability/

[Marvell1]

Dont know whenre you do get about TW to be closed source.

If you do try out to search;

As far as I know, trustwallet used to be an open source wallet but after being acquired by Binance, it is no longer an open source wallet and this issue has been discussed a lot on our forum. Many reputable forum members have warned about this issue before.

https://bitcointalk.org/index.php?topic=5420819.msg61561367#msg61561367

I dont have any issues on using up TW on storing up some coins but i do mostly make use of Metamask all the time.
Speaking about issues then TW do have even more but i do believe that this is mostly because of human error

As I said above: so far, there have been no serious incidents or accusations related to trustwallet, but there have been warnings from people with coding knowledge. We should be careful, and we have better options too, why would we use such a controversial and shady wallet?

https://www.reddit.com/r/Bitcoin/comments/zazoxc/comment/iyqjk6t/

[gunhell16]

1. Yes, I am a Trustwallet user.  I think I have no problem when using Trustwallet because it has a nice interface as well as good security.  I also chose it because there are many crypto wallets available there.  Maybe my little doubt is because there is no facility to view the private key there. But I don't think it has much effect on my few coins. I think I will continue use Trust Wallet, until I'm find more good wallet.

2. Yes, I have other crypto wallets too. Formerly, I use MEW web to create a wallet.  But currently MEW web is no longer available for creating new wallets, so I now use MEW Android.  I have also used Metamask from the past until now.

3. I think a hard wallet is only needed to store a lot of crypto.  For my meager crypto, I don't think I need it yet for now.

So Mew is only available on apps or android phones, I've been using it for a long time actually, well anyway I'm still using Trustwallet though I only have a few assets here
but so far it's so good according to my experience using it.

I also sometimes do swapping activity on trustwallet, then the native token of the trust wallet itself is okay, this is just for my opinion and I'm not encouraging others to use it
because it's still better for you to do a DYOR here first so you can prove to yourself whether this wallet should be trusted.

[Zanab247]

Trust Wallet should be treated like hot wallet i.e. only store amount that you can afford to lose, probably less than $500. If you have more than that, it's better to store it in cold storage or hardware wallet in order to be safe.

Even though you store more than $500k in trust wallet, nothing will happen to your BTC unless you expose your password to your brother or sister before anything can happen because the wallet is safe for both short time hodling and long time hodling. I'm not saying there are not safe wallet to hodl BTC for long, but I have used trust wallet to hodl amount of BTC that worth more than thousands of dollars for long years, but nothing happen to it because I don't allow my siblings to have access to my phone I store trust wallet app.

You might have no problem using Trust Wallet and you have use it for few years, but we don't know what will happen in the future.

I don't think anything will happen to trust wallet, if someone use it for long years, but if the person share the password to someone, the trust wallet will no longer save for the owner because the person you share the password with have the right to have access to your BTC.

[DanWalker]

Trust Wallet should be treated like hot wallet i.e. only store amount that you can afford to lose, probably less than $500. If you have more than that, it's better to store it in cold storage or hardware wallet in order to be safe.

Even though you store more than $500k in trust wallet, nothing will happen to your BTC unless you expose your password to your brother or sister before anything can happen because the wallet is safe for both short time hodling and long time hodling. I'm not saying there are not safe wallet to hodl BTC for long, but I have used trust wallet to hodl amount of BTC that worth more than thousands of dollars for long years, but nothing happen to it because I don't allow my siblings to have access to my phone I store trust wallet app.

I agree, even if it is millions of dollars but as long as we know how to store and secure it well, nothing will happen to our BTC. The safety of BTC depends largely on us, how we protect them, and not entirely on the wallet.

But we cannot deny that when comparing the two, hardware wallets are superior and more worth using. I would not do that, nor would I recommend someone have $500,000 or millions of dollars and use a hot wallet to store it. With large amounts of money, we should use the best solutions to minimize risks to the lowest level, not be subjective.

You might have no problem using Trust Wallet and you have use it for few years, but we don't know what will happen in the future.

I don't think anything will happen to trust wallet, if someone use it for long years, but if the person share the password to someone, the trust wallet will no longer save for the owner because the person you share the password with have the right to have access to your BTC.

Trust Wallet was launched in 2017 and so far everything is good. It is quite safe to use but I recommend everyone to use non-custodial and open source wallets. Avoid using closed source wallets because we cannot check its security and if it has any changes, we cannot know and react in time. Don't trust anyone easily in this market, whether it is a big company or organization.

[r_victory]

I haven't used Trust Wallet for a while, not because of vulnerabilities or anything like that. In the last few years I've been using MetaMask, Electrum and testing some like Exodus, for example, as well as wallets like TonKeeper, HashPack, I like to try new wallets and see which ones I adapt to and which ones fit my specific needs.

[Hispo]

I haven't used Trust Wallet for a while, not because of vulnerabilities or anything like that. In the last few years I've been using MetaMask, Electrum and testing some like Exodus, for example, as well as wallets like TonKeeper, HashPack, I like to try new wallets and see which ones I adapt to and which ones fit my specific needs.

If your capital or holding of cryptocurrency are big enough, I would completely advice you to get a hardware wallet or good reputation and stop using those software wallet to store the bulk of your capital, you know.
I started using hardware wallets since I was relatively new at cryptocurrency an decentralized projects and I don't regret it at all. It helps you to sleep tighter at night.

Forget about trust wallet, do your research and buy the hardware wallet which fits you the most.

[Z_MBFM]

• 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?

1. Trust Wallet is not bad or unsuitable for normal regular use. It supports all types of networks and is easy to access. Brother, I use Trust Wallet for regular regular use. I have not faced any problem with it till now.

2. I use Metamusk, Safepal, Bitget Wallet along with Trust Wallet. When I find the wallet easiest to use, I use that.

3. A hardware wallet is definitely important for those who invest large amounts in crypto because it is safe and secure. However, it is not mandatory for small investors.