Is Trust Wallet Safe? How to Install and Use Trust Wallet?
Trust Wallet is a decentralized cryptocurrency wallet. You can use it on your mobile device and have 100% control over your private keys.
In addition to using Trust Wallet to send, receive and store crypto assets. You can also use the dApp browser to access hundreds of dApps (decentralized applications), Staking.
Trust Wallet is also part of the Binance ecosystem . It is the native wallet on Binance DEX that allows users to trade cryptocurrencies directly on the platform while maintaining full control over their assets.
How to Install and Use Trust Wallet?
Trust Wallet is primarily a mobile-based crypto wallet. However, users can also use the Chrome browser extension for desktop. Here’s a step-by-step guide on how to install the Trust Wallet on mobile.
Step 1: Download Trust Wallet
To avoid falling victim to fraudulent sites, it is best to visit the official website of Trust Wallet and download the mobile app. Select your preferred device type (Android or iOS) and install the app.
Step 2: Create New Wallet
Once you have installed the Trust Wallet app, open it and click on the “Create a New Wallet” button to get started. Alternatively, you can click the “Import a Wallet” button if you want to restore your wallet by private key.
Step 3: Create a Passcode
Next, Trust Wallet will ask you to create a strong passcode to secure the wallet, depending on your device. Chrome extension users will have to create an 8-character password consisting of letters, numbers, and symbols. App users, however, will be required to set up a 6-digit passcode.
Step 4: Backup Your Seed Phrase (Important)
This is the most critical step to take when creating a Trust Wallet. First, check the three boxes regarding the backup to indicate agreement. The wallet will then display a 12-word secret recovery seed phrase, which will enable you to recover your account if you lose your device or want to move to a new device.
Important: Never save these words online or offline (on your PC), and never share them with anyone, as they grant full access to your wallet and funds. Write them down on a piece of paper, and ensure the words are in the correct order as displayed on your screen. Click here for more private key security tips.
Step 5: Confirm Your Seed Phrase
Next, Trust Wallet will ask you to re-enter and verify the 12-word recovery phrase that was displayed on the previous screen. Here, you need to tick the boxes containing each word in the correct order.
Step 6: Ready to Receive Crypto
Once you successfully confirm your backup phrase, the set-up process is complete, and you will be automatically logged into your Trust Wallet. Your wallet will be empty at this stage and now you can start receiving and sending crypto.
Step 7: Buy Crypto with a Credit Card on Trust Wallet
Trust Wallet lets you buy crypto with a debit or credit card in the wallet. Click on “Buy” and select the crypto asset you wish to purchase, set the amount, and the FIAT currency to pay with. Select a third-party payment provider and verify the fees. Once done, click “Confirm” to purchase and wait for the funds to be sent to your crypto wallet.
Alternatively, you can receive crypto assets from another wallet. Simply click on “Receive” and select the coin you wish to receive. Copy the wallet address provided and complete the transfer to that address from an external wallet.
Tip: It is always best to send a small amount, and wait for it to be received before sending the total amount.
Creating Multiple Wallets
Trust Wallet allows users to create or add multiple accounts, each with a unique recovery phrase. To add a new account, go to settings, select wallet, and click on the + icon at the top right corner. This will allow you to create a new wallet or import an existing one.
Security Best Practices for Using Trust Wallet
Trust Wallet is a non-custodial wallet, meaning users are responsible for securing their digital assets. The wallet has no access to user data; as such, it cannot help users retrieve their lost or stolen accounts.
Nonetheless, here are a few helpful tips that can help you safeguard your assets while using Trust Wallet. For more wallet security tips – please visit our dedicated guide.
Never Share Your Seed Phrase
Anyone with the seed phrase controls the funds in the account. Hence, it is important to safeguard your backup phrase and back it up properly. Never save the phrase online (or on any device connected to the internet) since hackers might hijack your device and easily get access to your wallet.
Avoid Clicking on Any Random Links
With cryptocurrencies becoming more popular, hackers are developing sophisticated methods to steal these digital assets, including malicious links in emails and text messages. Do not click on random links to avoid falling victim to these hacking attempts, even if you know the sender.
Only Use Official Trust Wallet Channels and Website
A well-known method the bad actors use is pretending to be Trust Wallet support agents to trick users into revealing their private keys.
Remember, Trust Wallet (or any other wallet) will never reach out to you for any giveaways, airdrops, or request your seed phrase for any reason. Do not share information about your wallet on public channels like Telegram, as scammers can easily exploit you under the guise of offering assistance.
Use a Hardware Wallet
For better security of more significant amounts, use a hardware wallet to integrate it into your non-custodial wallet. Since web wallets are often prone to hacking attacks, storing large amounts of crypto assets offline using hardware wallets is often best.
Trust Wallet recently added support for Ledger, one of the most popular hardware wallets available in the market.