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This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
Do you have ideas or suggestions for changes? Then we look forward to your feedback! We make every effort to keep all metrics and information as up-to-date as possible. However, if you discover an error or outdated information, we would be delighted to hear from you.
Feel free to write to us:
A wallet that is “open source” makes its software code public (e.g. on Github). Either the entire program code or at least significant parts of it are publicly accessible. This has the advantage that many parties can review the code and security gaps or other vulnerabilities are discovered and improved more quickly.
The so-called "private key" is a unique sequence of numbers and characters and the private key that gives you direct access to and control over your cryptocurrencies. The private key is used to sign transactions. In simple terms, it can be seen as a digital fingerprint that proves that you are the owner of the cryptocurrencies. If you store your cryptocurrencies on so-called "custodial wallets" (e.g. crypto exchanges), you are not the owner of your private keys.
The anonymity of “non-custodial wallets” is generally relatively high. However, there are differences between providers when it comes to collecting and storing user data. There can also be differences in the ordering process for hardware wallets as to which user data is stored and for what period of time
The so-called “secure element” is a chip (microprocessor) that stores your private key and is separated from the rest of the hardware. This special chip gives the hardware wallet significantly more protection against local, physical attacks. Depending on the chip, a different level of security can be offered. Some chips can be compromised with less effort, while with others this is only possible with special equipment and is extremely complex.
The so-called “secure element” is a chip (microprocessor) that stores your private key and is separated from the rest of the hardware. This special chip gives the hardware wallet significantly more protection against local, physical attacks. Depending on the chip, a different level of security can be offered. Some chips can be compromised with less effort, while with others this is only possible with special equipment and is extremely complex.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
Some wallets offer an integrated trading function within the wallet to buy and sell cryptocurrencies directly. This functionality is usually made possible by a connection to the web interface of an exchange. The integrated trading function in wallets offers enormous advantages: cryptocurrencies can be bought in the same place where they are to be stored. The manual transfer of cryptocurrencies from an exchange to your own wallet is therefore no longer necessary, which can save time and money.
Multisignature wallets or multisig wallets are wallets that require at least two private keys to sign a transaction. This additional process makes it possible to greatly increase security against unwanted access, for example through personal threats. This security mechanism is particularly useful when storing particularly high assets.
If the hardware wallet or the device with the corresponding software wallet is lost or damaged, there is no need to panic. As long as you have your private key or recovery seed (also called “seed phrase”) in your possession, you can restore your wallet at any time. The recovery seed is a combination of 12-24 words and is the most common backup method for wallets. Important: Keep your recovery words and private keys secret and never share them with other people!
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Trust Wallet
Overview
Quick Facts
Trust Wallet is the official software wallet of the Binance exchange, enabling easy sending, receiving, and trading of coins and tokens. It is particularly popular for its extensive selection of supported cryptocurrencies. Additionally, the app provides access to decentralized apps and NFTs.
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Pro's & Con's
- Supports a wide range of cryptocurrencies
- Clear and user-friendly app
- Integrated DApp browser
- Direct connection to Binance
- Very poor customer support
- No desktop application
Trust Wallet
Hardware
Offer and features of
Trust Wallet
Functionality
Unique Features
- DApp browser
- Lending (earn interest)
Platforms
Our
Trust Wallet
Review
Test Result
Conclusion
Trust Wallet is a reliable software wallet, particularly suitable for beginners. The app features a clear design and offers useful functions such as a browser for decentralized applications. It also supports the staking and lending of cryptocurrencies within the wallet. Trust Wallet stands out due to its wide range of supported crypto assets. While it is a solid choice, other comparable software wallets are more mature and offer better features. Reviews in the App Store and on various portals indicate that users are often dissatisfied with the poor customer support, among other issues.
Trust Wallet
User Reviews
The Trust Wallet is often praised for its simple and intuitive user interface. Users emphasize how easy it is to send, receive and store cryptocurrencies. However, there are some reports from users who want improved translation quality in some languages and further customization options of the user interface.
The Trust Wallet is praised for its variety of functions. The wallet supports a wide range of cryptocurrencies and offers integrated DApps. However, some users express a desire for extended analysis tools and additional functions.
The Trust Wallet supports a variety of cryptocurrencies, which is highly praised by users. It allows you to hold, receive and send a variety of cryptocurrencies. Some users express a desire for support for even more cryptocurrencies.
The Trust Wallet is praised for its high security standards. Users appreciate the fact that the keys are stored privately on the user's device and never leave the user's control. However, there are reports from users who express concerns about the security of software updates and the transparency of the company.
The Trust Wallet is often described as particularly beginner-friendly. The wallet offers extensive resources and tutorials that make it easier to get started. However, some users point out that despite the general user-friendliness, a certain training period is required.
The experience with the support of the Trust Wallet is mixed. Some users report quick and helpful answers, while others report slow response times and unresolved problems.
In summary, the Trust Wallet generally receives positive reviews, especially for its user-friendliness and its broad support for various cryptocurrencies. Users appreciate the variety of features and the high security standards, although some express concerns about software updates and corporate transparency. The opinions on beginner-friendliness are mostly positive, with some users wishing a certain training period. The support is rated mixed, with some users praising quick and helpful answers and others criticizing slow response times and unresolved problems. Overall, however, the experience is mostly positive, which indicates a general satisfaction of users with the Trust Wallet.
About
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Trust Wallet
About the author
Ethan is the go-to crypto guru at Exchange Flow, with nearly a decade steering traders through crypto exchange platforms worldwide, Ethan brings welcome clarity to the complex terrain of digital currencies. His hands-on approach to testing and analyzing exchanges worldwide makes his reviews and articles valuable information for readers and newcomers in the crypto world. Beyond his crypto expertise, Ethan is a retro gaming enthusiast and an explorer at heart, using his crypto gains to fuel adventures around the world. Dive into Ethan’s articles and reviews for a global perspective on cryptocurrency that’s as enlightening as it is engaging.