Trust wallet now offers prediction market

[Alpha Marine]

The primary purpose of a wallet is to store funds, whether bitcoin or any other coin. Integrating other services into the wallet shouldn't be something we should be grateful for. Especially, prediction markets, gambling services and other speculative services are not services I admire so much to be included in wallets. What if one day I suddenly switch from storing my bitcoins to using my bitcoins to make predictions and patronise other services included in the wallet? That is a wrong thing to do, i will lose bitcoins; something i would have avoided. There is everything wrong with prediction markets being integrated into wallets. Whether other wallets have included external services in wallets or not, that doesn’t make it right.

Things evolve. This is exactly why people who use it like it. I don't use Trust Wallet, I have already stated that this is one of the reasons I stopped using it.
Some people like the convenience. They like the fact that they can get everything they want in one app. Exchanges started as just crypto exchanges till they evolved, and now some trade stock, gold and now some even offer prediction markets.
Some like the all-in-one package, and it is for those people that these services were made. For people who don't like it, you won't use it.

And I don't believe the fact that it's there in the wallet would mean people will lose more money. If you were playing directly from the prediction market's site, all you need to do is scan the QR code to make a transfer. So it's still very easy.
People lose money in gambling and prediction markets all the time, even though it's not in their wallet app.

[bakasabo]

The primary purpose of a wallet is to store funds, whether bitcoin or any other coin. Integrating other services into the wallet shouldn't be something we should be grateful for. Especially, prediction markets, gambling services and other speculative services are not services I admire so much to be included in wallets. What if one day I suddenly switch from storing my bitcoins to using my bitcoins to make predictions and patronise other services included in the wallet? That is a wrong thing to do, i will lose bitcoins; something i would have avoided. There is everything wrong with prediction markets being integrated into wallets. Whether other wallets have included external services in wallets or not, that doesn’t make it right.

Telephone used to be gadget we were using only for phone calls. Then it got evolved into mobile phones that were used for calls and messaging. Now look at features your mobile has; camera, navigation, games, music player and many more. All due to trends on market. 1000% sure there would be even more features added to wallets in future. It is strange that wallets did not have walk-to-do and similar features when they were trendy.

[SamReomo]

It’s the first I am seeing this but then again I don’t use trust wallet. It is something that I am not surprised to see integrated into a wallet application and honestly it’s too easy nowadays for a company to implement something like this. I wonder if more wallets will follow suit and keep the trend going. Personally I am not crazy about the prediction betting markets but I also have not really tried them out, I have been meaning to though.

Well, not only you but there are many people here on this forum who don't use Trust Wallet because they can't trust it as it's a closed source wallet not an open source one. Trust Wallet is an easy way for people to have multi features in a single wallet but again there's always risk involved in using it and storing ones coins in it.

These days prediction markets are all over and if you haven't tried those you can check Polymarket or other prediction markets to understand how they work. They allow users to bet on multiple events including sports events, Bitcoin price in different time frames and on many other events. However, I think it'll be much convenient to use such markets when they're easily available using your wallet, in this care Trust Wallet..

[Cossyblack]

What if one day I suddenly switch from storing my bitcoins to using my bitcoins to make predictions and patronise other services included in the wallet?

I think the main reason trust wallet integrated prediction services into its wallet is because they wanted to generate additional income to their pocket. i understand the temptation of holding bitcoin in a platform that  also offer gambling services,if you can't resist the temptation, i advise you should transfer your bitcoin to a different non custodia wallet and stop using trust wallet altogether so that you can avoid using your bitcoin to play gambling.

There is everything wrong with prediction markets being integrated into wallets. Whether other wallets have included external services in wallets or not, that doesn’t make it right.

I agree with your points and i see reason to what you're trying to say but these services are optional. I would say those services wouldn't be good for a gambling addict because they will eventually wipe out their bitcoin.

[arwin100]

It’s the first I am seeing this but then again I don’t use trust wallet. It is something that I am not surprised to see integrated into a wallet application and honestly it’s too easy nowadays for a company to implement something like this. I wonder if more wallets will follow suit and keep the trend going. Personally I am not crazy about the prediction betting markets but I also have not really tried them out, I have been meaning to though.

Well, not only you but there are many people here on this forum who don't use Trust Wallet because they can't trust it as it's a closed source wallet not an open source one. Trust Wallet is an easy way for people to have multi features in a single wallet but again there's always risk involved in using it and storing ones coins in it.

These days prediction markets are all over and if you haven't tried those you can check Polymarket or other prediction markets to understand how they work. They allow users to bet on multiple events including sports events, Bitcoin price in different time frames and on many other events. However, I think it'll be much convenient to use such markets when they're easily available using your wallet, in this care Trust Wallet..

They are not best wallet option to use, knowing their issues and past hacking incident happened in their platform.

I'd rather choose other self custody wallet, rather than staying in their platform. Because their wallet is so prone to experience same exploit on which they experience before.

Even if we say they have prediction market now. I will still choose to use those well established platform. Rather than trusting and take a risk for using their services. For sure there are lots more better site than them and would rather stick on Polymarket or other well established prediction market.

[Pandu Geddon]

And I don't believe the fact that it's there in the wallet would mean people will lose more money. If you were playing directly from the prediction market's site, all you need to do is scan the QR code to make a transfer. So it's still very easy.
People lose money in gambling and prediction markets all the time, even though it's not in their wallet app.

We know that the character of people using their money determines how they can lose more money. An exchange platform that provides features or is affiliated with prediction markets is still reasonable. It's just that a wallet used to store assets now has more features that some users may find to make things easier. But for some people, it is still not good. 
However, this should not really be a problem, moreover, people using that wallet might not store large amounts of assets or keep them long-term. The users might indeed think of leaving a small amount of assets for routine transaction needs such as trading or making deposits to a casino.

[vs2014]

By adding such new features like prediction markets, trust wallet wanna draw more users' attention but it also raises some concern. I mean people use trust wallet to manage their crypto assets but besides adding sports prediction, political news and other things can make this platform complicated. Besides some people may use that prediction as a safe way to earn money while that can lead them to financial crisis. Although i see this as an interesting development but trust wallet should need to maintain security when it comes to adding new features along with making the wallet simple and secure

[Hispo]

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Well, from my understanding the wallet provider is supposed to have control over one's stablecoins in order to issue a Visa/MasterCard card in our name.
In a similar manner how it happens in Binance, for example, they give you a card and since they have control over our crypto, through their private keys, when they can easily discount whatever balance we have decided to use through our card in the form of Fiat. I don't know how possible it would be for an open source and truly non-custodial wallet to offer a card, of their issuer of the card does not have power on our crypto.

Perhaps it would require us to pre-fund our card before giving us the chance to spend with it.

[abel1337]

By adding such new features like prediction markets, trust wallet wanna draw more users' attention but it also raises some concern. I mean people use trust wallet to manage their crypto assets but besides adding sports prediction, political news and other things can make this platform complicated. Besides some people may use that prediction as a safe way to earn money while that can lead them to financial crisis. Although i see this as an interesting development but trust wallet should need to maintain security when it comes to adding new features along with making the wallet simple and secure

It seems that they are heading to a new direction, and I'm guessing that that direction needs to generate a lot of money. This looks likes coinbase, they also added a prediction market on their system and it seems other wallet follows. We maybe seeing other wallet follow this trend.

We can't control these wallet companies as they are trying to generate revenue to sustain their businesses. Prediction market is hot right now and I think that they are trying to take the opportunity as they have an existing user base, they only need to add the prediction market and wait for people to use it. I'm seeing this more on the business side.

[Webutxo]

Telephone used to be gadget we were using only for phone calls. Then it got evolved into mobile phones that were used for calls and messaging. Now look at features your mobile has; camera, navigation, games, music player and many more. All due to trends on market. 1000% sure there would be even more features added to wallets in future. It is strange that wallets did not have walk-to-do and similar features when they were trendy.

I think mobile phones and other things you mentioned are different inventions that were put together to create a smart phone. Camera is different invention, phone is different, games used to be played on televisions and all these things are together because they are meant to work fit each other. I understand the expansion of wallets but Trust wallet storage is going towards common centralized apps, the concept of crypto wallet is different from other apps.

There are money wallet that has some of this integration of casino apps on their phone, some of the banking apps have partnership with some popular casino for making deposits easy for users making them a centralized system, all these things are very similar to what Trust wallet is doing yet they claim to be a decentralized wallet which in these case they are not, they are building for exactly why Binance bought them years ago.

[Royal Cap]

By adding such new features like prediction markets, trust wallet wanna draw more users' attention but it also raises some concern. I mean people use trust wallet to manage their crypto assets but besides adding sports prediction, political news and other things can make this platform complicated. Besides some people may use that prediction as a safe way to earn money while that can lead them to financial crisis. Although i see this as an interesting development but trust wallet should need to maintain security when it comes to adding new features along with making the wallet simple and secure

Honestly, I don't like such features in a trust wallet as a self custody app. Because a wallet should be where I can safely hold my funds. But if you add unnecessary or extra features, the main idea of ​​self custody is lost, at least I think. However, since trust wallet is a product of Binance, they have added this feature to attract more users, thinking that you are getting the opportunity to bet within self custody, meaning you are betting independently. Anyway, at least I am not in favor of betting on any predictions here.

[Ojima-ojo]

By adding such new features like prediction markets, trust wallet wanna draw more users' attention but it also raises some concern. I mean people use trust wallet to manage their crypto assets but besides adding sports prediction, political news and other things can make this platform complicated. Besides some people may use that prediction as a safe way to earn money while that can lead them to financial crisis. Although i see this as an interesting development but trust wallet should need to maintain security when it comes to adding new features along with making the wallet simple and secure

Honestly, I don't like such features in a trust wallet as a self custody app. Because a wallet should be where I can safely hold my funds. But if you add unnecessary or extra features, the main idea of ​​self custody is lost, at least I think. However, since trust wallet is a product of Binance, they have added this feature to attract more users, thinking that you are getting the opportunity to bet within self custody, meaning you are betting independently. Anyway, at least I am not in favor of betting on any predictions here.

Some gamblers prefer simplicity and ease of access as against their expected privacy and security, although, so for some gambler to have a prediction market feature on their trust wallet is a big convinence for them and they will simply welcome such development, trust wallet will not just implement such features in their platform fro no reason.


They did that because of users demand on them to get such service, even though is not security wise to have both wallet that store money and gambling services in the same place, for fear of addictions and temptation to exuste their money easily.