Topic: What is Trust wallet and is it safe? - page 5. (Read 1097 times)
Trust Wallet is one of the most popular wallets. It is a mobile wallet thus it would make things easier to send out crypto through your phone. If you are using it for small amounts and quick spending then it is ok. But if you're storing high amounts of crypto then it would be safer to have hardware wallets. One of the safest hardware wallet is Ledger Nano X. The security of Trustwallet is as secure as Metamask. Don't expose or give your secret phrases in any third-party websites. People will try scamming you by sending suspicious links or installing suspicious apps. In short Trustwallet is secure enough if you're careful and if you use it for everyday use for small amounts.
The claim on their website is clearly lying. But that's not the case on their GitHub repository page since "Trust Wallet Core" is not "Trust Wallet".
Sure, but they rely heavily on the fact that most users (and probably almost all users who are using a closed source wallet owned by Binance) will be unaware of the difference between a library being open source and the app being open source. Lots of similar statements on their Twitter account not clearly making the distinction, such as:https://nitter.it/TrustWallet/status/1271248054755229697#m
https://nitter.it/TrustWallet/status/1104686959304368128#m
They also lie about it on Binance:
Quote from: https://www.binance.com/en/blog/ecosystem/the-ultimate-beginners-guide-to-trust-wallet-348207409895657170
Moreover, the wallet’s code is open-source, which means that the code has been thoroughly vetted by developers across the globe.
Quote from: https://binancex.dev/start.html
A community-driven, completely open-source, multi-coin crypto wallet.
Trust Wallet (trustwallet.com) is a self-custodial wallet that is secure, open source and decentralized.
I am not sure if I agree with their argument, and I know that other wallet software has had similar problems with malicious clones.
I don't agree with their argument at all. It is easy to create a malicious clone without access to the source code, simply by copying the GUI which is easily visible. You can copy the back end from an old version and just add a few lines of code to send any seed phrase, generated or entered, to yourself over the internet. It doesn't matter if your malicious clone doesn't have all the functionality of the real thing - by the time this is discovered it is already too late for the victim.And it already happened several times,
[Warning] Three more fake trust wallet on google play.
Beware of Fake Trust Wallet
Even Trust Wallet blog acknowledge existence of fake wallet app at https://trustwallet.com/blog/how-to-avoid-falling-victim-to-phishing.
I don't see the claim on the download page in either the iTunes nor google play app stores.
They claim it here:https://trustwallet.com/developer/
https://github.com/trustwallet/wallet-core
They are outright lying.
The claim on their website is clearly lying. But that's not the case on their GitHub repository page since "Trust Wallet Core" is not "Trust Wallet".
Not really sure, but their developer page claims that the wallet is open-source[1]. If it's accurate, then it's definitely a positive thing.
It used to be open-source in the past, but that's no longer the case. Neither their Android nor their iOS version have publicly verifiable code. https://walletscrutiny.com/android/com.wallet.crypto.trustapp/
https://walletscrutiny.com/iphone/com.sixdays.trust/
...but when it comes to multi wallet I haven't find a wallet that's open source and supports 100s to 1000s of tokens, if I am wrong someone should please drop a name.
I have no idea how many altcoins it supports, but Unstoppable Wallet is a mobile multicurrency wallet that is supposedly open-source. Wallet Scrutiny wasn't able to match the binary to the source code for their iOS app but they did it for the Android version.
I am not sure if I agree with their argument, and I know that other wallet software has had similar problems with malicious clones.
I don't agree with their argument at all. It is easy to create a malicious clone without access to the source code, simply by copying the GUI which is easily visible. You can copy the back end from an old version and just add a few lines of code to send any seed phrase, generated or entered, to yourself over the internet. It doesn't matter if your malicious clone doesn't have all the functionality of the real thing - by the time this is discovered it is already too late for the victim.I don't see the claim on the download page in either the iTunes nor google play app stores.
They claim it here:https://trustwallet.com/developer/
https://github.com/trustwallet/wallet-core
They are outright lying.
There are different types of wallets in the cryptocurrency market. Trust wallet is basically a multi-currency wallet that supports all types of tokens in this wallet.Many investors and holders prefer trust wallets nowadays.Moreover, this wallet is much more secure than other wallets.
I want to know more details about this wallet from you.
Thank you everyone
The word safety is a relative word and varies from person to person and amount to another, but you must know some facts:I want to know more details about this wallet from you.
Thank you everyone
- It's closed source: therefore I have to trust the developer team.
- Your seed can be logged: even if you write it down, they may have logged it.
So if you plan to keep a lot of money, there are better alternatives.
As for small amounts that you are not afraid of losing, I do not think there is a problem, especially since many people use them.
Trust wallet is not open source.
Here is their blog post announcing they are becoming closed source about 4.5 years ago: https://trustwallet.medium.com/why-open-sourcing-android-app-could-be-a-harm-to-the-crypto-community-fb3ae1707dc6
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They are making an argument against keeping their wallet software open source. I am not sure if I agree with their argument, and I know that other wallet software has had similar problems with malicious clones. Electrum is one example. Unlike electrum, I understand that Trust Wallet is a mobile wallet, that must be downloaded via an app store. It is much more difficult for someone to find the "correct" version of an app on the iTunes/google app store than it is to find the correct/official website for bitcoin core or for electrum. Here is their blog post announcing they are becoming closed source about 4.5 years ago: https://trustwallet.medium.com/why-open-sourcing-android-app-could-be-a-harm-to-the-crypto-community-fb3ae1707dc6
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They outright lie on their website when they claim to be open source. If being closed source isn't enough to convince you to stay away, then them outright lying to you should be. They are also owned and operated by Binance, so you can guarantee you will have absolutely zero privacy when using Trust wallet.
Avoid it.
The fact that binance manages the wallet software certainly gives me pause. However, I think that the "open source" claim is being confused. I don't see the claim on the download page in either the iTunes nor google play app stores. I do however see that people can "submit" DApp's that can run "on top of" Trust wallet. Avoid it.
I've been using TW for more than a year now and all has been rosy, no issues or complaints with it for me.
From my own experience with trust wallet I can say it's very safe because I have never been hacked, my wallet exposed, or any other unpleasant situation using Trust wallet.
This line of thinking is a fallacy.It's like saying "I've been driving without a seatbelt or an airbag for a year, and I'm still alive, so doing this is perfectly safe and seatbelts and airbags are unnecessary." This is obviously nonsense. While you hope to never be in a crash, you should obviously take reasonable precautions to protect yourself just in case. And while you hope your coins are never lost or stolen, you should obviously take reasonable precautions to protect yourself just in case. And these precautions include not using a closed source wallet which could be doing absolutely anything behind the scenes.
Everyone who has lost coins via an exchange being hacked or a platform going bankrupt thought those platforms were very safe right up to the minute they weren't. Everyone who was trading on Mt Gox thought they were highly reputable until they lost everything. Everyone with coins in Celsius thought everything was fine until their accounts were frozen. And everyone who uses a closed source wallet will be happy with it right up until some vulnerability is discovered and they lose everything.
So many replies I think it's would be unbelievable if you still don't understand what a trust wallet is. But to your second question.
I think it depends on the experience of the user on the trust wallet. From my own experience with trust wallet I can say it's very safe because I have never been hacked, my wallet exposed, or any other unpleasant situation using Trust wallet. Other might have different experiences. But get one thing right if you protect yourself on trust wallet or any other wallet and you are discipline you should not have any worries.
I think it depends on the experience of the user on the trust wallet. From my own experience with trust wallet I can say it's very safe because I have never been hacked, my wallet exposed, or any other unpleasant situation using Trust wallet. Other might have different experiences. But get one thing right if you protect yourself on trust wallet or any other wallet and you are discipline you should not have any worries.
Trust wallet is not open source.
Here is their blog post announcing they are becoming closed source about 4.5 years ago: https://trustwallet.medium.com/why-open-sourcing-android-app-could-be-a-harm-to-the-crypto-community-fb3ae1707dc6
Here are the links to their Github repositories which show they are both archived and have had no updates in 4 years:
https://github.com/trustwallet/trust-wallet-android-source
https://github.com/trustwallet/trust-wallet-ios
They outright lie on their website when they claim to be open source. If being closed source isn't enough to convince you to stay away, then them outright lying to you should be. They are also owned and operated by Binance, so you can guarantee you will have absolutely zero privacy when using Trust wallet.
Avoid it.
Here is their blog post announcing they are becoming closed source about 4.5 years ago: https://trustwallet.medium.com/why-open-sourcing-android-app-could-be-a-harm-to-the-crypto-community-fb3ae1707dc6
Here are the links to their Github repositories which show they are both archived and have had no updates in 4 years:
https://github.com/trustwallet/trust-wallet-android-source
https://github.com/trustwallet/trust-wallet-ios
They outright lie on their website when they claim to be open source. If being closed source isn't enough to convince you to stay away, then them outright lying to you should be. They are also owned and operated by Binance, so you can guarantee you will have absolutely zero privacy when using Trust wallet.
Avoid it.
Your answer summarizes all the points I wanted to clarify. Thank you.
To clarify also it was made by independent developer named Victor Viktor Radchenko and was purchased by binance later on. Before completing the purchase, it was open source and had an announcement thread on the forum. I forgot where i saved the link to that thread and searched for it, but found nothing.
I also never recommend using it as a main wallet but it may be useful for Binance users who can link their accounts on the platform to that wallet.
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Many investors and holders prefer trust wallets nowadays.
How do you know many investors prefer the Trust wallet nowadays when the dev team claimed it open source and no source code is make to the public.Moreover, this wallet is much more secure than other wallets.
It is hard to know if it's more secure because there's no public review of the wallet source if there are some flaws or backlogs which will be users vulnerable to attack.having said that, there's a time when few users of wallet lose their funds.
I'm reading warnings on how Trust Wallet shouldn't be trusted, owing to the fact of it being closed source. I know that crypto stuff are highly technical and require tech gurus to know how to meander through its technicalities. I've been using TW for more than a year now and all has been rosy, no issues or complaints with it for me. It's one of the trading apps I use. I don't know if it will go rogue tomorrow but it's so far so good at the moment.
Trust wallet is not open source.
Here is their blog post announcing they are becoming closed source about 4.5 years ago: https://trustwallet.medium.com/why-open-sourcing-android-app-could-be-a-harm-to-the-crypto-community-fb3ae1707dc6
Here are the links to their Github repositories which show they are both archived and have had no updates in 4 years:
https://github.com/trustwallet/trust-wallet-android-source
https://github.com/trustwallet/trust-wallet-ios
They outright lie on their website when they claim to be open source. If being closed source isn't enough to convince you to stay away, then them outright lying to you should be. They are also owned and operated by Binance, so you can guarantee you will have absolutely zero privacy when using Trust wallet.
Avoid it.
Here is their blog post announcing they are becoming closed source about 4.5 years ago: https://trustwallet.medium.com/why-open-sourcing-android-app-could-be-a-harm-to-the-crypto-community-fb3ae1707dc6
Here are the links to their Github repositories which show they are both archived and have had no updates in 4 years:
https://github.com/trustwallet/trust-wallet-android-source
https://github.com/trustwallet/trust-wallet-ios
They outright lie on their website when they claim to be open source. If being closed source isn't enough to convince you to stay away, then them outright lying to you should be. They are also owned and operated by Binance, so you can guarantee you will have absolutely zero privacy when using Trust wallet.
Avoid it.
Not really sure, but their developer page claims that the wallet is open-source[1]. If it's accurate, then it's definitely a positive thing.
On the other hand, regardless if it's safe or not, it's really not recommended to hold huge amounts on money through a software wallet. 99% of people should always go with reputable hardware wallets.
[1] https://trustwallet.com/developer/
I can see that on GitHub, but that should not be the reason yet that it is open source to people that are not developers. Or you check the codes and completely verify that they are completely open source? I am not a developer and I can not verify this yet. Let us see other members that know about this to comment before we can decide it to be completely open source or not.On the other hand, regardless if it's safe or not, it's really not recommended to hold huge amounts on money through a software wallet. 99% of people should always go with reputable hardware wallets.
[1] https://trustwallet.com/developer/
It seems that BTC is the only crypto that has open source wallets, maybe Ethereum too but when it comes to multi wallet I haven't find a wallet that's open source and supports 100s to 1000s of tokens, if I am wrong someone should please drop a name.
Some hardware wallets are open source and support bitcoin and many altcoins.Trust wallet and metamask are both open source wallet which you can find there github repositories on there official girhub account attached below link. It's true that you can not change address on trustwallet unless you will create new wallet with new seed phrase but metamask supports multiple wallet address using one seedphrase that almost identical to BTC wallet except that it didn't display the total balance on all the wallet address that belongs to the single seed phrase.
Repositories:
Trustwallet: https://github.com/trustwallet/wallet-core
Metamask: https://github.com/MetaMask/metamask-docs
Metamask is a web extension, web wallets are most vulnerable to online attacks. Repositories:
Trustwallet: https://github.com/trustwallet/wallet-core
Metamask: https://github.com/MetaMask/metamask-docs
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A close wallet that do not give the option of a changing address. I can not recommend a wallet that encourage address reuse.
While generating keys and addresses on Trustworthy, no option for passphrase
Not supporting multisig
No coin control and anything like address freeze
It may be a good option for altcoins to many people, but for bitcoin, I can not recommend it. Use Electrum or Bluewallet or other reputed wallets for bitcoin. Going for altcoins, open source hardware wallet would be the best option.
It seems that BTC is the only crypto that has open source wallets, maybe Ethereum too but when it comes to multi wallet I haven't find a wallet that's open source and supports 100s to 1000s of tokens, if I am wrong someone should please drop a name.While generating keys and addresses on Trustworthy, no option for passphrase
Not supporting multisig
No coin control and anything like address freeze
It may be a good option for altcoins to many people, but for bitcoin, I can not recommend it. Use Electrum or Bluewallet or other reputed wallets for bitcoin. Going for altcoins, open source hardware wallet would be the best option.
Trust wallet and metamask are both open source wallet which you can find there github repositories on there official girhub account attached below link. It's true that you can not change address on trustwallet unless you will create new wallet with new seed phrase but metamask supports multiple wallet address using one seedphrase that almost identical to BTC wallet except that it didn't display the total balance on all the wallet address that belongs to the single seed phrase.
Repositories:
Trustwallet: https://github.com/trustwallet/wallet-core
Metamask: https://github.com/MetaMask/metamask-docs
A close wallet that do not give the option of a changing address. I can not recommend a wallet that encourage address reuse.
While generating keys and addresses on Trustworthy, no option for passphrase
Not supporting multisig
No coin control and anything like address freeze
It may be a good option for altcoins to many people, but for bitcoin, I can not recommend it. Use Electrum or Bluewallet or other reputed wallets for bitcoin. Going for altcoins, open source hardware wallet would be the best option.
It seems that BTC is the only crypto that has open source wallets, maybe Ethereum too but when it comes to multi wallet I haven't find a wallet that's open source and supports 100s to 1000s of tokens, if I am wrong someone should please drop a name. While generating keys and addresses on Trustworthy, no option for passphrase
Not supporting multisig
No coin control and anything like address freeze
It may be a good option for altcoins to many people, but for bitcoin, I can not recommend it. Use Electrum or Bluewallet or other reputed wallets for bitcoin. Going for altcoins, open source hardware wallet would be the best option.
Not really sure, but their developer page claims that the wallet is open-source[1]. If it's accurate, then it's definitely a positive thing.
On the other hand, regardless if it's safe or not, it's really not recommended to hold huge amounts on money through a software wallet. 99% of people should always go with reputable hardware wallets.
[1] https://trustwallet.com/developer/
On the other hand, regardless if it's safe or not, it's really not recommended to hold huge amounts on money through a software wallet. 99% of people should always go with reputable hardware wallets.
[1] https://trustwallet.com/developer/
A close wallet that do not give the option of a changing address. I can not recommend a wallet that encourage address reuse.
While generating keys and addresses on Trustworthy, no option for passphrase
Not supporting multisig
No coin control and anything like address freeze
It may be a good option for altcoins to many people, but for bitcoin, I can not recommend it. Use Electrum or Bluewallet or other reputed wallets for bitcoin. Going for altcoins, open source hardware wallet would be the best option.
While generating keys and addresses on Trustworthy, no option for passphrase
Not supporting multisig
No coin control and anything like address freeze
It may be a good option for altcoins to many people, but for bitcoin, I can not recommend it. Use Electrum or Bluewallet or other reputed wallets for bitcoin. Going for altcoins, open source hardware wallet would be the best option.
There are different types of wallets in the cryptocurrency market. Trust wallet is basically a multi-currency wallet that supports all types of tokens in this wallet.Many investors and holders prefer trust wallets nowadays.Moreover, this wallet is much more secure than other wallets.
I want to know more details about this wallet from you.
Thank you everyone
I want to know more details about this wallet from you.
Thank you everyone
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