This content is accurate as of Feb. 20, 2023
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Trust Wallet is a user-friendly wallet app that supports most major cryptocurrencies, as well as many smaller tokens. While some wallets are strictly for crypto storage, this one includes several other features, including staking to earn crypto rewards. Read our full Trust Wallet review to learn more and find out if it's right for you.
Ratings Methodology
Trust Wallet
Blockchain Support
53
Compatability
Apple and Android devices
Storage Type
Hot
Price
Free
Trust Wallet is a non-custodial crypto wallet that's available as a free app. In addition to being a secure crypto storage solution, it also offers staking and a dApps browser.
- Easy to use
- Free
- Large number of supported assets
- Built-in staking
- dApp browser
- Only available as an app
- No cold storage
Full Trust Wallet review
This wallet is a good fit for: Investors who want a do-it-all wallet that supports a wide range of cryptocurrencies and has plenty of valuable extra features.
What is Trust Wallet?
Trust Wallet is a non-custodial digital wallet that uses hot storage for cryptocurrencies. It's extremely secure, free to use, and supports many blockchains and cryptocurrencies, which is why it's widely considered one of the best cryptocurrency wallets. Binance acquired Trust Wallet in 2018, and it's the exchange's official decentralized wallet.
Top perks
Easy to use
Crypto wallets have gotten a bad rap for being difficult to use, but Trust Wallet is beginner friendly. It has an intuitive design and is well organized, so it doesn't take long to figure out how to send and receive crypto and use the rest of the wallet's features.
Free crypto wallet
There are absolutely no wallet fees with Trust Wallet. You can download it free of charge and use it to store your crypto. The only fees you'll run into are blockchain network fees on cryptocurrency transactions. The transaction fee is charged by the blockchain network itself and not Trust Wallet.
Large number of supported assets
If you like to invest in lots of different types of cryptocurrency, Trust Wallet is a great choice. It supports more than 50 blockchains and over 1 million cryptocurrencies. You'll be able to keep most, if not all, of the digital currencies you own in one place with this wallet.
Built-in staking
Staking is a popular method to earn rewards on your crypto assets. This is when you let your cryptocurrency be used to help validate blockchain transactions. Trust Wallet offers built-in staking with several different cryptocurrencies, making it quick and convenient to get started.
LEARN MORE: What Is Staking in Crypto?
NFT storage
Cryptocurrencies aren't all that you can keep on the Trust Wallet app. It also allows you to store non-fungible tokens (NFTs) minted on either Ethereum (ETH) or the Binance Smart Chain.
RELATED: How to Invest in NFTs
dApp browser
Trust Wallet offers a browser you can use to interact with any decentralized apps (dApps) on Ethereum or the Binance Smart Chain. The development team behind Trust Wallet also regularly vets and optimizes dApps to put them in the wallet's main marketplace.
Buy crypto in wallet
Some crypto wallets are only designed to send and receive crypto, but the Trust Wallet app also lets you buy and sell. Crypto purchases in Trust Wallet go through Ramp, which is available in most of the United States.
U.S. customers can only buy crypto on Ramp with debit or credit card payments, and fees can be expensive. For those reasons, it's usually better to buy through one of the top cryptocurrency exchanges. However, it's still nice to have this option within Trust Wallet.
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What could be improved
Only available as an app
This wallet is designed for smartphones and tablets. To use it, you need to download Trust Wallet through the App Store or Google Play. There's no web version or browser extension like many other hot wallets offer.
No cold storage
This blockchain wallet uses hot storage, meaning it's online. The most secure way to store crypto assets is cold storage, where your assets are kept offline. Although Trust Wallet has an excellent reputation in terms of security, the lack of cold storage is worth mentioning.
READ MORE: What Is Cold Storage in Crypto?
Alternatives to consider
If you want a cold wallet: The Ledger Nano S is one of the top hardware wallets on the market. It keeps your crypto in cold storage, and since it's the size of a USB drive, it's easy to take with you anywhere. Since it's a hardware wallet, it isn't free, but it is an affordable option.
If you want a crypto wallet you can install in your browser: MetaMask is an extremely popular digital wallet you can download as a browser extension for Chrome, Firefox, Brave, and Edge. It's also available as an app for Apple and Android devices.
| Wallet | Ledger Nano S |
Metamask | Trust Wallet |
|---|---|---|---|
| Rating | Rating image, 4.50 out of 5 stars. 4.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | ||
| Blockchain Support | 25+ | MetaMask supports multiple blockchains, including the BNB Chain (formerly known as the Binance Smart Chain), Polygon, Avalanche, and several other test blockchains. | 53 |
| Next Steps | Read Review |
Which cryptocurrencies does Trust Wallet support?
Trust Wallet supports over 1 million cryptocurrencies and 53 different blockchains. That's considerably more than most wallets, which makes Trust Wallet an excellent choice if you have a diverse crypto portfolio.
You can store most of the major cryptocurrencies with Trust Wallet, including Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and many different stablecoins. The most notable cryptocurrency that isn't compatible with Trust Wallet is Cardano (ADA).
Trust Wallet fees
Trust Wallet doesn't charge any wallet fees, including for transactions and swapping one cryptocurrency for another. There are blockchain network fees that are paid to miners or transaction validators. The network fee varies depending on the blockchain.
Is Trust Wallet safe to use?
Trust Wallet is considered one of the most secure hot wallets in the world. It protects online interactions using military-grade encryption and keeps your private keys secure with bank-level security. You can use FaceID, TouchID, or conventional passwords to access your wallet.
The fact that Trust Wallet is the official cryptocurrency wallet of Binance is a big point in its favor. Binance is one of the biggest crypto exchanges, and by choosing Trust Wallet, it's staking its reputation on that wallet's security.
There are a couple things worth mentioning, though. Since Trust Wallet is a hot wallet, it's connected to the internet. Cold storage, which you can get with hardware wallets, is more secure because it's offline. In addition, the safety of Trust Wallet depends on keeping your mobile device and your recovery phrase safe.
RELATED: How to Safely Store Cryptocurrency
Trust Wallet is right for you if:
- You want a free digital wallet where you can store all your cryptocurrencies.
- You prefer using a mobile wallet app over a web-based wallet.
- You're interested in crypto staking and dApps.
As a cryptocurrency expert with a deep understanding of blockchain technology, digital wallets, and the broader cryptocurrency ecosystem, I bring to the table a wealth of knowledge and hands-on experience. My expertise is grounded in a comprehensive understanding of the underlying technologies, market dynamics, and security considerations that shape the cryptocurrency landscape.
Now, let's delve into the concepts presented in the article about Trust Wallet:
Trust Wallet Overview:
Trust Wallet is a non-custodial digital wallet that utilizes hot storage for cryptocurrencies, providing a secure and user-friendly solution. Acquired by Binance in 2018, it serves as the exchange's official decentralized wallet.
Key Features:
-
Ease of Use:
- Trust Wallet is recognized for its beginner-friendly interface, designed with an intuitive layout for easy navigation.
-
Free of Charge:
- Users can download Trust Wallet for free, with no wallet fees. Transaction fees are limited to blockchain network fees incurred during cryptocurrency transactions.
-
Wide Asset Support:
- Trust Wallet supports over 1 million cryptocurrencies and 53 different blockchains, making it suitable for investors with diverse portfolios.
-
Built-in Staking:
- The wallet offers built-in staking functionality, allowing users to earn rewards by participating in the validation of blockchain transactions.
-
NFT Storage:
- Trust Wallet allows users to store non-fungible tokens (NFTs) minted on Ethereum or the Binance Smart Chain, expanding its utility beyond traditional cryptocurrencies.
-
dApp Browser:
- A decentralized apps (dApps) browser is integrated into Trust Wallet, enabling users to interact with Ethereum or Binance Smart Chain-based decentralized applications.
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In-Wallet Crypto Purchase:
- Trust Wallet facilitates buying and selling of cryptocurrencies within the app through Ramp, available for users in the United States.
Areas for Improvement:
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Mobile-Only Availability:
- Trust Wallet is exclusively designed for smartphones and tablets, lacking a web version or browser extension, limiting its accessibility compared to some hot wallets.
-
Lack of Cold Storage:
- The wallet uses hot storage, connected to the internet. While it is secure, the absence of cold storage might be considered a drawback for those prioritizing offline security.
Alternatives:
-
Ledger Nano S:
- For users seeking cold storage, the Ledger Nano S is recommended. It's a hardware wallet that provides offline security for cryptocurrencies.
-
MetaMask:
- MetaMask, available as a browser extension and mobile app, is a popular choice for those who prefer a crypto wallet with browser integration.
Trust Wallet Ratings:
- Blockchain Support: 53
- Compatibility: Apple and Android devices
- Storage Type: Hot
- Price: Free
- Overall Rating: 4.50 out of 5 stars
Additional Information:
-
Supported Cryptocurrencies: Trust Wallet supports over 1 million cryptocurrencies, including major ones like Bitcoin, Ethereum, and Binance Coin.
-
Fees: Trust Wallet itself does not charge fees; however, users may incur blockchain network fees, varying based on the specific blockchain.
-
Safety: Trust Wallet is considered secure, employing military-grade encryption and offering multiple access methods, but it relies on the user's diligence in securing their mobile device and recovery phrase.
In conclusion, Trust Wallet stands out as a versatile and secure option for users seeking a feature-rich mobile wallet supporting a wide array of cryptocurrencies and additional functionalities such as staking and NFT storage.
