What is Trust Wallet?
Trust Wallet is a mobile cryptocurrency wallet for both Android and iOS users. Trust Wallet is the official crypto wallet of Binance, one of the larger cryptocurrency exchanges at the moment. With the Trust Wallet, users can easily, securely store, send and receive cryptocurrencies.
In addition to the well-known cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), Trust Wallet supports all Ethereum-based ERC-20 and ERC-223 tokens and all ERC-721 collectibles.
The Trust Wallet has a very user-friendly interface, which is fully optimized for mobile devices. The dashboard is simple, but includes extensive and detailed transaction statistics, history and cryptocurrency prices and graphs. Multiple multi-crypto wallets can be created and Trust Wallet offers the possibility to integrate different wallets, such as MyEtherWallet, MetaMask and Coinbase Wallet.
The Trust Wallet also has a fully functioning Web3 DApp browser, which can be used to securely communicate with any decentralized application (DApp) made possible by Ethereum smart contracts. DApps are blockchain decentralized applications that range from cryptocurrency games and market places to special crypto collect DApps.
Trust Wallet is secured by means of a so-called “12-word backup phrase”. This is a password consisting of 12 random words, which the user must write down externally and keep in a safe place. This “12-word backup phrase” is used to generate and manage all private keys. The backup phrase is also used to restore the wallet in the event of loss or theft of a mobile device.
Always keep the “12-word backup phrase” in a good and safe place. If necessary in several places. Without this it is not possible to restore a wallet on a new device and the crypto currency is unfortunately lost.
The private keys of all crypto currencies are generated locally by the Trust Wallet and encrypted and stored on the mobile device. The private keys are never stored in the cloud and remain 100% under the eyes and control of the user.