Should You Trust the Trust Wallet Mobile to Hold your CryptoCurrency? [VLOG#89]


CryptoSlo with more crypto gains what’s
going on guys Monday so Wow so we’re
waiting for that weekly close for
Bitcoin and not too bad not too bad
up to about 9k holding in there popped a
little above kind of a blow-off top you
know it’s kind of got me it’s got me
thinking about doing some analysis of
graph overlays of the hall coins and
just kind of seeing in perspective where
they were you know during the last bull
run compared to our sort of bull run
that were
but anyways that’s a different video
today I wanted to talk about trust
wallet so trust wallets kind of all the
rage now you know these multi-point
wallets are popping up
there’s the monarch there’s Exodus
there’s trust yeah there’s several these
several of these wallets so I just kind
of wanted to give my review of it and
you know what the title says should you
trust trust wallet and I’m going to get
into the context of that but
specifically why name the video this
because you know ultimately goes about
looking for safe ways to hold your
crypto
but keep in mind you always give up some
security for convenience and that’s
that’s kind of what’s going on with this
trust wallet so let’s get into it
first and foremost trust wallets
available on iOS and Android which is
nice I downloaded the app synced up
nicely right off the bat the most
impressive thing that I have about that
whole wallet is the number of tokens and
coins that it supports it’s very very
extensive like if I wanted to I could
probably put almost my whole portfolio
on this
so you know it’s pretty intuitive
against the price and I’m also supports
swapping but let me get into this I
think that swapping is done on the back
end of Finance so you know be careful
with that because I don’t know if the
wallet is going to continue to have that
functionality once the Geo blocking of
Finance comes into effect so that is
what I wanted to get into mainly with
this wallet is number one it’s only
available on mobile there’s not a
desktop or Google Chrome version of this
yet which to me doesn’t make sense
because here’s the big risk
what if Apple or Google decide they
can’t have that wallet on their store
anymore or the app becomes geo
restricted
it happened like that
funds are
funds are gone you can export your 12
verb anomic that’s only to restore the
wallet
you can’t export your private keys now
their claim to fame is that the private
needs to stay on your phone fantastic
but what if I want my coins so let’s
look at that scenario Apple or Google
get geo block the app boom your funds
are on your trust wallet boom you’re out
rats rats yeah so that to me is the
biggest problem with these stupid multi
coin wallets is number one you can’t
export your private keys and I
understand from a custodial standpoint
they feel that you don’t need to because
you have the twelve work but what if you
can’t access the app now you’re like wow
that’s not likely to happen listen this
crap happens with the electrum wallets
woman when a node goes down and then you
can’t hear electrum all along sync so
ultimately I am still a firm believer in
full node wallets beauties
for the majority of your assets like for
big assets you know cuties are the way
to go so you can’t export your private
keys
and it’s not available on desktop so if
it gets blocked on the phone stores you
are rekt so from that standpoint I would
say I would give trust wallet five stars
for ease of use five stars for its
ability to support multi points but from
a security standpoint I give it one star
because you can’t export your private
keys and
you’re ultimately at the mercy of Google
what Apple if the app gets caught then
your rectum access your buns
so overall IBM trust wallet about two
and a half stars out of five
do I trust it not really I probably
won’t be keeping any large amounts of
crypto on the trust wallet I think it’s
a cool idea yeah do if they made some
changes to it including the better
absolutely if they had a desktop version
if you could export your private keys
you know if they added that
functionality the thing would be gold it
would be maybe the best wall
especially compared to exodus because it
supports a lot more point but at least
on exodus you do have a desktop version
to roll against
if it gets removed from the App Store so
yeah so that’s my review I would not
keep a lot of coins on trust wallet
they can fix those underlined security
problems not be able to export your
private keys and having a desktop
extension mainly a desktop installed
with this a chrome can you block from
the app store as well
that’s it that’s my review a trust
wallet you know do your own research and
do what you feel comfortable with but
that’s it hey have a great Monday
This is cryptoslo, if your not talking gains
then were not talking!

1 thought on “Should You Trust the Trust Wallet Mobile to Hold your CryptoCurrency? [VLOG#89]

  1. I use a mobile wallet like a checking account. I only use it for small amounts and keep my main account secured and locked away.
    I use Blockfolio app to keep a mobile tally of my holdings not tied to my keys.

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