Cryptocurrency is one of the dynamic forms of currency and investment you can make. However, there are also more anxieties one can feel about holding cryptos too.
Every other day there is news of either digital theft or the currency losing its value. Yes, Trust wallet has the word “Trust” in its name but does it live up to the name?
How can you ensure from my end to keep the Trust wallet completely secure and safe from theft?
This article breaks down all your burning questions searched on Google about it. By the end, you will have a good understanding of how to secure a Trust Wallet.
Is Trust Wallet Safe And Secure?
Yes and no. Trust Wallet is highly encrypted, and its security process is extremely rigorous. However, anything connected to the internet will be vulnerable to hacking or phishing scams.
How To Secure Trust Wallet?
- Create a high-level Password
Most accounts get hacked due to poor password strength. So always create a strong password.
- Two Factor Authentication
It is easily one of the key features to ensure an extra layer of security. Always keeping this feature enabled makes it far more difficult for hackers to break through.
- Use a Fingerprint sensor or Face ID
Every Trust Wallet comes with a fingerprint sensor and Face ID support built-in. You can use them to build an extra layer of security for your wallet.
- Check the Source
You might get an email or a call saying that they are from Trust Wallet. It could be the real owners or might be fraudulent scammers looking for a sucker. Are you one? NO, because you know to verify and not divulge information to unverified people.
Is My Money Safe In Trust Wallet?
Yes, Trust Wallet is a highly secure and verified app. They have shown that they can be relied on and won’t run away with your money.
However, if you are talking about hackers, then that depends upon how careful you are.
Can Trust Wallets Be Hacked?
Yes, they are connected to the internet and subsequently vulnerable to hacking. However, it is important to stress that the chances of your Trust Wallet are extremely low.
Ensuring the safety of your money should be a habit that is best to be followed every day.
Is A Trust Wallet Insured?
No, Trust Wallet is not insured by the Trust Wallet team. However, there are other wallets like Binance and Coinbase wallets that do provide insurance.
Note: No wallet provides 100 percent insurance, so it’s up to you to keep them secure.
Is Trust Wallet Offline?
Trust Wallet is a hot wallet app, and that’s why it needs to be connected to the internet. In an offline scenario, you can only receive crypto and cannot transfer it to someone else.
If you want your crypto secured, it’s best to keep most of your wealth in a cold wallet. Only use a hot wallet for active trading or transfer purposes.
Trust Wallet Recovery Phrase Hack
A unique style of safety protocol, you can essentially create a 12-word phrase. Once you have set up this master encryption key, Trust Wallet will safely return all your content.
You will have a safe way to recover your account in case of any unfortunate circumstance. However, make sure you remember the phrase and write it on a piece of paper.
What Is A Better Option To Store Crypto: Hot Vs Cold Wallet?
Depends upon your need and requirements
- Hot Wallet
Very convenient and great for trading on the move, but The only issue is that they are not very secure.
- Cold Wallet
Extremely secure because they are stored offline in physical storage. However, if you forget the password to your wallet or if it physically gets destroyed, then you’re screwed.
There is no way to recover your cryptocurrency.
Does Trust Wallet Hold Your Crypto?
No, Trust Wallet is completely decentralized and acts just as an intermediary.
Trust Wallet is extremely secure and safe to use if you follow all the security protocols. The best way to ensure your fiat or crypto investments are safe is by diversifying your investment portfolio. Have a lot of crypto in Trust Wallet? Diversify by converting some to fiat, other wallets, and cold wallets, etc.
Keep a tab of passwords on a sheet and put it for safekeeping in a locker.