Trust Wallet Review: Is Binance’s Wallet Safe or a Merciless Scam?

This hot wallet provider has become a household name in cryptocurrency circles thanks to their connection with some of the biggest names in the industry. While the service is of high quality, many users complain about some problems that can only be described as alarming.

Should you trust your cryptos to this service provider? Find out in our Trust Wallet review.

Swimming With the Big Fishes

Founded in 2017, the Dapps Platform, Inc was established in California, US, as a software development company. The main objective of the firm is to provide its customers with a chance to truly own their crypto assets and have individual control over their most valued digital assets.

Now, what’s important to mention is the fact that current leading investors in the firm are Binance Asia, Blackhole Capital and Funcity Capital. All of these are a big deal in the tech industry and have helped the developers to realize their desire to create one of the most popular crypto wallets currently.

Trust Wallet Binance product is one of the most recommended hot wallets for a reason, so let’s explore some of its major advantages. 

Trust Wallet App: Mobile App and Browser Extension

This app is a non-custodial, decentralized wallet that gives you complete control over your crypto assets while supporting a wide palette of crypto tokens and coins. 

The software also provides access to the Web3 Dapps. In essence, Trust Wallet crypto storage is a type of hot wallet, which means it requires constant internet connection. That increases the chances of cyber attacks and hacking. As a purely software solution, Trust Wallet cold storage is currently not supported.

Software is, however, available for download from App Store and Google Play for iOS and Android users, while desktop users can download a browser extension. It’s compatible with Chrome, Brave, Opera, Edge and others. Trust Wallet fees are not changed for downloading the app, however, 1% fee on in-app crypto purchases does apply.

All Over The Social Media

Companies today rarely become prominent if they don’t invest time and effort into social media advertisements. As expected from such a popular solution, this crypto wallet provider can be found in virtually every corner of the web.

It’s not just Facebook, Instagram, Google, X, YouTube, and LinkedIn, the firm is also available via Discord, Telegram and more. This sort of exposure is nothing unusual, with Phantom Trading being another company with similar viral advertising strategies.

Were the Fake Reviews Necessary?

You’ve probably heard of review seller networks before. These are the unscrupulous people that frequent different ratings platforms, and create misleading reviews for some meager financial return.

Having an honest company employ these sorts of false advertising strategies is not what you’d expect, or even call legal in many nations – but that’s exactly what this one did.

It wasn’t long before the jig was up, and TrustPilot removed a huge swathe of Trust Wallet reviews from their site. Currently, the firm has 89% negative comments on this platform, and as little as 95.2% on SiteJabber. So, the question is – was faking the reputation worth it in the long run, or did someone in the PR make a horrible mistake?

Features

Being the official Binance crypto wallet, the app provides an abundance of features. From importing various wallets and accessing a palette of apps supported by the blockchain, there’s other options that every crypto enthusiast finds attractive. 

Trust Wallet login opens way to seamless market access and the ability to buy hundreds of coins, stake and earn, as well as scout the ever-dynamic NFT market.

Buying Crypto

This concrete app supports over 100 fiat currencies you can use to buy crypto in a matter of seconds.

Payment methods supported are Apple Pay, Google Pay, debit and credit card, bank transfer and others. Generally speaking, more than 300 assets are available for buying, including Bitcoin, Ethereum, BNB, Solana, Cosmos, and more.

Swapping

Since the wallet creators aren’t the ones controlling these services, third-party participants facilitate swaps. That’s why one of the key functions of this software is its ability to deliver most liquid sources for each transaction. 

That way, users are able to dig through the current market offers and find the most profitable ones. Thanks to the slippage protection, all orders go through many DEX’s in order to reduce the effect of slippage on the final price.

Staking

The process of staking means pledging your assets for the purpose of maintaining and keeping the blockchain network safe and stable. By doing so, users can accumulate some sort of a reward, which is calculated in particular coins. 

The wallet app allows you to constantly have insight into the earning estimator and judge which coins would be most lucrative to stake.

Explore the NFTs World

Since this advanced software provides support for over 600 NFTs, it brings one key advantage to its customers. By that we mean the fact that users are able to enjoy all their Non-Fungible Tokens in one place, without having to constantly switch between the apps. 

This unlocks the possibility to explore and own unique digital art through one app, as NFTs are becoming increasingly more popular, especially with the younger audience.

Ledger Support

One certain advantage of installing this application is its compatibility and hardware support for the Ledger wallet. The Trust Wallet hardware wallet compatibility with the Ledger cold wallet provides access to Web3 while private keys are kept safe offline. This is considered a step forward to the increased safety of crypto assets and keys. 

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