RateMyWallets

Binance

Trust Wallet

4.1|Software Wallet (Mobile App)|Over 1 million assets and 60+ blockchains including Bitcoin (BTC), Ethereum (ETH), BNB (BEP-2/BEP-20), Solana (SOL), Avalanche (AVAX), Polkadot (DOT), and thousands of tokens across various networks.

Trust Wallet is a prominent mobile-first software wallet owned by Binance, offering extensive multi-chain support and a built-in dApp browser. It serves as a versatile gateway to the decentralized web, enabling users to manage a vast array of cryptocurrencies, NFTs, and interact with dApps directly from their smartphone.

Security Spotlight

Security Rating:
3.7 / 5.0
  • 12-word recovery phrase (seed) for backup and restoration.
  • Local biometric authentication (Face ID/Touch ID) for app access.
  • PIN code protection.
  • Private keys stored locally on the user's device, not on servers.
  • Transaction signing requires explicit user confirmation.

Pros

  • •Exceptional multi-chain support for a wide range of cryptocurrencies and tokens.
  • •Integrated Web3 dApp browser for seamless interaction with decentralized applications.
  • •Built-in staking and swapping functionalities.
  • •User-friendly mobile interface, suitable for beginners.
  • •Open-source for certain components, fostering community trust.

Cons

  • •Primarily a mobile-only experience, lacking a dedicated desktop client.
  • •As a hot wallet, it carries inherent security risks associated with software vulnerabilities and device compromise.
  • •While open-source for some components, the entire codebase is not fully open-source.
  • •Reliance on Binance's ecosystem for some features, though it remains non-custodial.

Full Review

Trust Wallet has established itself as a leading mobile software wallet, particularly favored by users within the Binance ecosystem and those seeking broad multi-chain compatibility. Its strength lies in its ability to support an astonishing number of cryptocurrencies and blockchain networks, making it a highly versatile tool for managing a diverse portfolio on the go. The integrated dApp browser is a cornerstone feature, providing a direct portal to interact with decentralized applications, DeFi protocols, and NFT marketplaces without leaving the wallet environment. Trust Wallet also offers convenient features such as in-app staking for various proof-of-stake assets and direct swapping capabilities. While owned by Binance, Trust Wallet remains a non-custodial solution, meaning users retain full control over their private keys, which are stored locally on their device. Security relies on a 12-word recovery phrase and local biometric authentication. However, as a hot wallet, it is inherently more susceptible to risks associated with mobile device compromise, phishing, or malware. Despite these considerations, Trust Wallet's expansive feature set, intuitive mobile interface, and robust multi-chain support make it an excellent choice for users who prioritize mobile-first asset management and extensive Web3 interaction.