Topic: Is Trustwallet Safe? - page 7. (Read 1320 times)

Just because it's popular doesn't mean it's safe. The problem with trustwallet and any other closed-source wallet or app is that we don't know how it works under the hood.
The main reason why people use cryptocurrencies and especially bitcoin is that they want to be their own bank.
To be your own bank you need to have full control over your coins and this can't be achieved by using a closed-source wallet.
Therefore, the main problem with trustwallet is trust not security perse.

trustwallet is very safe and I have used it for a long time, usually to use trustwallet you are asked to backup the 12 word phrase, don't take a photo and save it on your cellphone because other people can see when using your cellphone, you should save the 12 word key phrase in a safe place where only you can access it, make sure to lock your wallet and cellphone with your fingerprint or pin number, all wallets are safe it's just that sometimes people like to be careless and underestimate security so it's easy to lose their money

Most of the people been reported that it was their fault for most of the time. From clicking malicious links, using weak machine etc. It's on the user's end fault most of the time.
If it's on trustwallet's end then they probably would say it immediately but the security of the wallet is just depends on how good the user knows how to make it safe their assets.

It's safe, but the way people manage to safe their assets are different story.

If you use a Trust wallet and only want to store your coins, you don't need to connect the wallet to a DEX that you don't know whether DEX is safe or not. In addition, you don't need to connect to the internet if you don't make any transactions and it's better to leave the wallet offline. A wallet is safe as long as you can take care of it and don't click on suspicious links. But maybe it's better to keep those coins in a hardware wallet.

when we use Trustwallet it is a closed source wallet and we don't know what it does in their operating system, so for more assets it is better to use another wallet which is more secure with offline storage wallet, because we don't know when our wallet is connected to the internet, criminals try to keep it, and that doesn't mean Trustwallet isn't good, if only for small assets you can use Trustwallet

All the complaints about TrustWallet are not true. The major problem is that users may click on some unknown link and connect to a scam site or they may not keep phrase key in safe zone. However, it is not safe to keep large amounts of assets in such hot online wallets. For this it is better to use Hardware wallet.

That can happen. The strong and multi-layered defense walls of any exchange market can be hacked, let alone just an online wallet defense wall if done by an expert, anything can happen.  so we must always be careful if possible not to be too open with what you have because if it is open it will invite evil to stalk you and using any type of wallet if careless it will not guarantee your property is safe

I think trust wallet is the most popular cryptocurrency wallet in this time, because it’s backed by Binance exchange. And here supported a multi chain of tokens, specially it’s reputed for the binance smart chain (bep-20) tokens. I think it’s enough safe wallet but if it’s a online wallet, so you have to be careful to protect your wallet as like don’t try to sell spam/scam tokens if you will receive.

Activating 2FA is useless if your wallet already got hacked because the hacker can bypass the 2FA security.

I think everyone already know how to protect their wallet, the basic thing e.g. not share seeds, not connect random dapps, not clicking random links etc. But when we're talking about the hack not because from user negligence, it's depends on the code and the developer. In this part we don't know the code which raise a vulnerability if the wallet could be hacked.

As far as security features are concerned, of course, I think Trustwallet provides adequate security measures to ensure protection similar to that of any hardware wallet.
and Trustwallet keeps user funds safe by performing regular audits, the app also monitors several other security measures such as pin code scanning and fingerprint scanning to add an extra layer of security. And those steps can be manually activated by users as per their business requirements.
and all depends on what you are basically looking for and your needs and preferences, and some people may prefer Trust Wallet, and some may prefer MetaMask, it depends on preference.
and so far there is no official news if the entire Trustwallet platform is hacked, maybe the device they are using has been hacked. And for MetaMask not easy at all, MetaMask has a lot of security features that make it quite safe.

People can hack your trust wallet if you are not carefully to install any app in your handheld. It can be hacked if you are installing suspicious app that can hijack your phone and steal your data. You must not also blatantly connecting your wallet to the suspicious site or your money will be stolen by hacker.
The only best thing never try to deal with any suspicious wallet to make sure if your wallet will be safe

Any wallet can be hacked if you're not careful enough in keeping your private keys. But talking about open/close source, if a wallet is a closed source then most people won't want to keep their stack there. Those people that are aware of how they should keep their funds in such wallets would likely not keep all that they have with TrustWallet. But if they do, then it's the minimal that they can set on it because they don't trust wholly it and would choose better wallets like hardware wallets which is always the recommended one.

This is a separate issue to the fact that Trust wallet is a bad wallet choice, but this is also a bad back up method. Scrambling a 12 word seed phrase does not add any additional security, and a good attacker would be able to crack any scrambling that you do in a matter of minutes. What is more likely is that you forget the true order of the words and inadvertently lock yourself out of your back ups.

Biometrics are not safe and are easy to spoof/hack. If you want a secure locking mechanism for some software or app, then you must use a PIN or password.

everyone already said that the safest is by using cold wallet and yes is very true

but I am user of truswallet it work great but yes I'm not hold lot of money since i don't have lot of money hahah but the app is great is like I'm already using it for 2 years for Dapp transaction and using multiple chain so far so good

but if you want safe a lot of money offcouse I'm still recommendation to save it on cold storage

Considering that Trust wallet is closed source, even if you use it completely offline you may still not be safe.

You should never try to invent your own "encryption" mechanism because most of the times they don't provide you with any meaningful security and you would be running the risk of not being able to recover your keys ever again. For example if you forget your "scrambling method", you'd be forced to brute force it by checking 479 million permutations.

For multicrypto wallet, yes, trustwallet can be trusted and safe ^{(that's for me as you will find others will say different because it's closed source, etc.)}, i'm using it for several years already.
But for stacking bitcoin i stick on electrum for desktop and mycelium for mobile.

But for total safety, hardware wallet such trezor and electrum is your best choice. But of course it still depend on the user's practice.

I never considered good wallet those mobile wallets, Trustwallet is a closed-source wallet and we didn't know what's doing in their operating system, not like the open-source wallets we can always check their libraries.  In closed-source wallets like Trustwallet for example, it could be there's malicious or it could be due to an outdated system there could be a bug that can be exploited by those scammers that are very crucial to use and should not be trusted.

There's nothing good wallet aside from hardware wallets or ope source operating system wallets.  Electrum for Bitcoin is enough and Metamask for altcoins.

You should never trust your memory. It's possible that you forget the correct order of the words at any time.
Forgetting simple things is usually normal for a human and I am sure it has happened to most of us.

Trust Wallet is a good wallet for mobile devices. It has support for many altcoins and that's why it is popular. It is the main wallet I use for Binance Smart Chain tokens. If you are interested in staking and defi it is a good wallet and should be safe enough for everyday use. You can lock the wallet with your fingerprint or face if you need the extra security.

@Charles-Tim, @Z-tight and some others already suggested that you should consider getting hardware wallet or offline storage wallet.

But since you asked about Trust Wallet I will share with you some tricks and precautions that's might reduce the risk of your trust wallet getting hack.

If you're the lazy and greedy type then the chance of your account getting hacked is high. Because scammers tend to get some users by enticing them with some too good to be true offers. Let's say you participated in an airdrop and after some time you received and email or a notification asking you to claim some additional token worth more than $500 and it gives you a convincing writeup as to why you were selected, during the process of claiming the token you were asked to connect your wallet by inserting your secret phrases what will you do?
ye! I know the story is unrealistic but let's just assume something like this ever happens what will you do?
I know you might be tempted to just insert it and claim your free tokens but in the process your secret might get stolen.

Here are some useful tips:^{I know you might heard it a thousand times}

• Never expose your secret phrases no matter what. just as the name implies secret phrase should be kept private.
• If you ever want to participate in any airdrop whatsoever make sure you create a new account. though it's not advisable since you tend to get token with close to zero value.

Here's a trick that could help you keep your Wallet safe even more. I read about it some time ago and I've been applying it ever since. I'll share my pattern with you but you'll have to figure out any pattern that works well for you.

Trust wallet always have 12 secret phrases and we all have the habit of always writing them out and storing them in their correct arrangements, which means if a scammer even get his hands on them it will be easy for them to get access to your wallet.

instead of storing the phrases in their correct arrangements why don't you do some rearrangement before you store them? you could take the last 6 words and place them at the first position and place them in the first position while the first six will be at the last postion, you could also arrange them to your taste.

here what I mean; let's assume the following phrases belongs to an account:
Car  Father  Tower  Curtain  Bitcoin  Smile  Touch  Elbow  Blanket  Window  School  Rainbow

instead of storing in the above format you could swap some words before you store them. like this.
Elbow  Blanket  Window  School  Rainbow Car  Father  Tower  Curtain  Bitcoin  Smile  Touch
(I moved the last six words to the front while the first six to the back)

or this swapping two closest words.
Father Car  Curtain  Tower  Smile  Bitcoin Elbow  Touch    Window Blanket  Rainbow  School

If it's 12 phrases rearranging it means that out of 479,001,600 only 1 is the correct combination while if it's 24 only 1 out of 620,448,401,733,239,439,360,000 Is your combination. but you have to remember your pattern so that you won't have to try 479,001,600 different times.

Just be careful how you use your wallet.