Topic: Is trust Wallet and Bread Wallet are non-custodial wallet ? (Read 254 times)
Yes, sure. In fact, if your number of cryptocurrencies is not large, you can put them on exchanges such as Binance, which is more secure on the premise of convenient trading.
as far as i can tell the trust wallet is closed source so it is automatically unsafe to use.
Being closed source, they could get hold our private keys if they want
You can also check this topic to know more about the difference of open source and close source https://bitcointalksearch.org/topic/m.54332332
as far as i can tell the trust wallet is closed source so it is automatically unsafe to use.
Even though trust wallet is closed source, but we still have full access to our private keys. So can you tell how can trust wallet be still unsafe for use ?
Being closed source, they could get hold our private keys if they want
when thinking about a bitcoin wallet the first thing you need to worry about is whether they are open source or closed source (partially open source wallets are also considered closed source). and more importantly if the project is popular enough and is receiving any attention from experts who would review the code if you can't do it yourself.
as far as i can tell the trust wallet is closed source so it is automatically unsafe to use.
breadwallet on the other hand seems to have an active github repository for its IOS version and the source seems to be available there. you need to do more research yourself.
as far as i can tell the trust wallet is closed source so it is automatically unsafe to use.
breadwallet on the other hand seems to have an active github repository for its IOS version and the source seems to be available there. you need to do more research yourself.
Trust Wallet, is a non-custodial mobile wallet app that was acquired by Binance in 2018. TWT was created to increase adoption and understanding of cryptocurrencies.
Trust wallet is a non-custodial wallet as well. I am using it for a while now and have been able to import my seed phrases to metamask. Trust wallet is usually being used for storing ERC20, ERC71 and BEP2 token for people who do airdrops and investing in an ICO or DeFi projects nowadays.
Just a sidenote, even if it claims to be a non-custodial, storing large amount of funds is still not recommended, it's better to use hardware wallet.
More info here:
[1] https://trustwallet.com/
Just a sidenote, even if it claims to be a non-custodial, storing large amount of funds is still not recommended, it's better to use hardware wallet.
More info here:
[1] https://trustwallet.com/
Agreed. Pity that Ledger has a great hardware wallet and lousy user database security.
I hardly hear about Bread wallet, thus I can't say much on it but as for Trust wallet, it is a non-custodial wallet. Also, Trust wallet till date has proven to be secure and no challenges so far, rather the team keeps improving in order to maintain their users. In the same way, Trust wallet is a multi-cryptocurrency wallet that is to say, you can store various cryptocurrencies on it such as Bitcoin, ERC tokens, BEP 20 tokens and many others. Lastly, you control your wallet because you have your mnemonic phrases thus can import your wallet to any other place you find worthy, and yes, since you have your private keys or mnemonic phrases you can import it anywhere you want, in addition, I do not think Trust wallet is closing anytime soon.
AFIAK, trust wallet is a non_custodial wallet, easy to use with multiple coins in it, which I'm currently using, I don't know about bread wallet but as mk4 had said, that the both wallets are non-custodial, it's okay to go with any.
Is it safe to store bitcoins and crypto in these wallets because we have full control over the private ki ?
Yes, it is safe to use both wallet, I didn't think trust wallet will close down anytime soon, I can't tell about bread wallet, since I haven't used them. I want to be clear that trust Wallet and Bread Wallet are non-custodial wallet ?
Is it safe to store bitcoins and crypto in these wallets because we have full control over the private ki ?
In case, both of them close their services, we can still use our coins by importing private key in other wallets ?
Is it safe to store bitcoins and crypto in these wallets because we have full control over the private ki ?
In case, both of them close their services, we can still use our coins by importing private key in other wallets ?
The wallets in which you have control on your private key, those are non-custodial wallet. BRD and Trust Wallet both fall in this category. You can read Custodial vs. Non-Custodial Wallets: The Working and Difference Points and then can easily determine which wallet is custodial and which is non-custodial wallet.
For Trust Wallet's private key importation, I've seen an old thread that's made with the same topic. You can take a look at its discussion.
Thread: Is it possible to extract private key from Trust Wallet
Thread: Is it possible to extract private key from Trust Wallet
Trust wallet is a non-custodial wallet as well. I am using it for a while now and have been able to import my seed phrases to metamask. Trust wallet is usually being used for storing ERC20, ERC71 and BEP2 token for people who do airdrops and investing in an ICO or DeFi projects nowadays.
Just a sidenote, even if it claims to be a non-custodial, storing large amount of funds is still not recommended, it's better to use hardware wallet.
More info here:
[1] https://trustwallet.com/
Just a sidenote, even if it claims to be a non-custodial, storing large amount of funds is still not recommended, it's better to use hardware wallet.
More info here:
[1] https://trustwallet.com/
With BRD, yes. Not sure about Trust wallet, but most likely yes.
About trust wallet. Haven't tried to import my trust seed to other wallet yet but according trust help centre trust is non-custodial wallet and you should have no trouble using your coins after closing service by trust.
https://community.trustwallet.com/t/what-happens-to-my-funds-if-trust-wallet-closes/2191
Quote
Conclusion
Going back to the original question, what happens if Trust Wallet closes or stops working?
Besides that being unlikely to happen, I can assure you that you can still manage your funds.
Here are some things you can do:
Send your funds to other wallets or exchanges before the service completely goes down.
Cash out 284 your crypto.
Derive your Private Keys and Export them to a different software wallet.
Going back to the original question, what happens if Trust Wallet closes or stops working?
Besides that being unlikely to happen, I can assure you that you can still manage your funds.
Here are some things you can do:
Send your funds to other wallets or exchanges before the service completely goes down.
Cash out 284 your crypto.
Derive your Private Keys and Export them to a different software wallet.
I want to be clear that trust Wallet and Bread Wallet are non-custodial wallet ?
Yes, both are non-custodial(at least them claim to be).Is it safe to store bitcoins and crypto in these wallets because we have full control over the private ki ?
Yes, I personally have used BRD as a hot wallet and it's pretty decent. But of course, with bigger amounts of funds, a hardware wallet is the way to go.In case, both of them close their services, we can still use our coins by importing private key in other wallets ?
With BRD, yes. Not sure about Trust wallet, but most likely yes.
I want to be clear that trust Wallet and Bread Wallet are non-custodial wallet ?
Is it safe to store bitcoins and crypto in these wallets because we have full control over the private ki ?
In case, both of them close their services, we can still use our coins by importing private key in other wallets ?
Is it safe to store bitcoins and crypto in these wallets because we have full control over the private ki ?
In case, both of them close their services, we can still use our coins by importing private key in other wallets ?
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