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Luis Clark
Luis is a personal finance expert who has been passionate and writing about crypto for more than five years.
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    Trust Wallet UK Review: The Best Wallet in 2023?

    Trust Wallet UK Review

    Trust Wallet UK Review: Our Opinion

    With Trust Wallet, anyone can access their cryptos without requiring permission from a crypto exchange or centralized platform. The wallet is free for use and comes loaded with numerous features that make it even easier for anyone to launch into the Web3 economy.

    While it is quite secure, Trust Wallet remains a hot wallet. It requires an internet connection to perform any of its functions. This makes it susceptible to hacks from malicious software. Users are advised to ensure their smartphones are virus-free before using the software.

    Trust Wallet is one of the biggest brands in the cryptocurrency wallet space. The crypto wallet offers UK investors a non-custodial storage facility, making it easy for them to access their virtual assets anytime. While asset storage is Trust Wallet’s main function, the platform also features several unique offerings.

    In this Trust Wallet UK review, we will deep-dive into the ecosystem and learn how Trust Wallet functions. We will also consider unique features that separate it from competitors to deliver an unbiased opinion regarding its suitability for investors.

    An Overview of Trust Wallet

    Trust wallet homepage

    Crypto hacks have become a norm following the boom of the emerging industry in 2020. Many centralized crypto exchanges have since increased their security protocols and initiated strict know-your-customer (KYC) processes to forestall this issue. However, because of their centralized nature, users do not have control of their crypto assets and can be locked out if there are any issues. 

    The introduction of stand-alone decentralized cryptocurrency wallets, like Trust Wallet, has helped provide security while ensuring investors retain full control of their virtual assets. 

    Viktor Radchenko launched Trust Wallet in 2017. Because of its clean user interface and non-custodial nature, the platform garnered 25 million plus users in its first year of operation. This massive adoption spurred the Binance exchange to acquire Trust Wallet in July 2018 as part of its initiative to provide more services in the crypto space.

    Since then, Trust Wallet has grown and solidified its position as the Binance ecosystem crypto wallet of choice.



    Trust Wallet: What Is It?

    What is Trust wallet

    Trust Wallet is a mobile, decentralized storage application allowing users to store over 4.5 million assets safely. The storage platform runs seamlessly, supporting 65 blockchain network integrations. This cryptocurrency wallet’s easy-to-use interface makes it easy for users to store their ERC-based tokens and Binance-owned token standards, like BEP-20 and BEP2.

    Besides self-custody services, Trust Wallet offers so much more. The platform supports a decentralized application (dApp) browser—compatible with Android and iOS devices—for interfacing with the Web3 space.

    Moreover, investors can buy, sell, and exchange assets with Trust Wallet. The software app also allows users to earn interest on their cryptocurrency, store non-fungible tokens (NFTs) or digital collectibles, and track price charts of different cryptocurrencies.

    Despite its impressive product lineup, Trust Wallet does not require users to supply any personal details or undergo rigorous KYC processes.

    Trust wallet exchange instantly feature

    Trust Wallet: How Does It Work?

    Trust Wallet is non-custodial. This means that the control of all assets and the private keys to the wallet remains solely in the hands of the customers. 

    Additionally, the platform is KYC-free. This means it does not require users to supply personal details.

    Trust Wallet allows investors to create a decentralized wallet once they download the software. Users are then presented with 12 to 24 randomly generated words as a backup phrase to prevent intruders from accessing their wallets. Once the backup phrase is copied and saved, users can use the wallet to buy, sell and store their digital assets. 

    Crypto wallets do not directly store the assets of the user. Instead, they store the public and private keys of users. Similar to a bank account number, a public key is used to send and receive assets. On the other hand, private keys function as the PIN for confirming transactions. 

    For transactions to be executed, a private key must be used as the digital signature. They are usually kept secret because they identify the assets that belong to a particular user.

    How to Send and Receive Coins

    Sending and receiving coins on Trust Wallet is quite easy. Investors can follow the steps below after launching the Trust Wallet app.

    To send crypto, 

    • Tap on the ‘Send’ icon on the screen. This will open up the transfer portal. 
    • Select the crypto asset to send, choose the underlying blockchain network, and paste the recipient wallet address into the appropriate box. 
    • Then, insert the amount to send and follow the on-screen prompt to complete the process.

    Receiving cryptocurrencies on Trust Wallet is even easier and more straightforward. 

    • Open the Trust Wallet application and click on the ‘Receive’ icon. 
    • Select the crypto asset to be received. 
    • Copy the accompanying wallet address to paste or scan the generated QR code.

    Once the transfer is processed, the crypto asset will be deposited in the recipient’s wallet address within minutes.

    Unique features of Trust Wallet

    Trust wallet supports NFTs

    Besides storing cryptocurrencies, Trust Wallet features a buy and sell functionality. This allows investors to buy Bitcoin in as little as 5 minutes with the software cryptocurrency wallet. Investors can also track the price of the crypto on Trust Wallet and seamlessly exchange them.

    Another unique feature of this secure wallet is its NFT functionality. Trust Wallet enables users to store all forms of digital collectibles. Users can collect and store any form of NFTs on the Trust Wallet platform.

    Trust wallet staking calculator

    For passive investors, the Trust Wallet Earn service comes in handy. Earn is a staking service that allows users to commit their crypto assets to secure an underlying blockchain network. In return, they can mint new coins. 

    On Trust Wallet Earn, investors can generate passive revenue from 12+ assets, including popular names like Binance Coin, Tezos, and Tron. The annual percentage rate (APR) is pegged at 11%, and no fees are attached.

    Investors can make their crypto on Trust Wallet work for them. 

    Another major feature of Trust Wallet is the dApp browser. This browser functions as a search engine—for the Web3 landscape. With it, users can access smart contract applications to provide liquidity, stake, and even trade altcoins not supported on traditional centralized exchanges. 

    The Trust Wallet dApp browser can be accessed on the mobile app and used as a desktop browser extension.

    Trust Dapps browser

    Trust Wallet also features an in-built decentralised exchange (DEX). This allows users to swap their assets or exchange them directly

    The Swap function is a simple way of buying and selling tokens compatible with Trust Wallet. For instance, an investor can directly swap Ethereum for Binance Coin via the Binance Chain, processed through the Binance DEX. This way, investors can access many assets from different blockchains without visiting them individually.

    The exchange option’s interface is similar to a centralized trading interface. It features an order book highlighting both ‘Buy’ and ‘Sell’ orders. Users can set trading limits and also trade different crypto pairs. 

    The final feature in this Trust Wallet review is the Trust Wallet Token or TWT.

    Trust wallet TWT

    Trust Wallet Token operates as a governance token, making it possible for holders to vote on network proposals. Like all network tokens, Trust Wallet Token is not limited to this utility. The token can be used for transaction settlement and directly staked for more revenue.

    TWT has grown in prominence in the last couple of years. The crypto asset rose more than 30% in one week following the FTX collapse of November 2022. The digital asset has retained a strong appeal for investors.

    Cryptocurrencies Supported

    Number of digital assets supported on Trust Wallet

    In this Trust Wallet review, we discovered that Trust Wallet is a multi-crypto storage facility. It supports 4.5 million assets. These assets operate on 65 blockchain networks, supporting popular names like Bitcoin, Ethereum, Binance Coin, XRP, Solana, Tezos, and Cardano.

    Besides mainstream cryptocurrencies, Trust Wallet also supports fiat-backed stablecoins, like USDT, across various networks.

    Fees Explained

    It is common for all financially focused activities to incur a fee. However, through our Trust Wallet review, we verified that the permissionless storage mechanism is free, with zero fees.

    The only fee incurred on the Trust Wallet platform is a network or gas fee—used to facilitate transactions across the various networks.

    These gas fees are paid to the underlying protocol, not the Trust Wallet platform. Trust Wallet’s zero fees affirm the team’s mission to make access to crypto free and easy.


    Trust Wallet is non-custodial and does not require KYC. This means the software does not store any personal details of the user. However, Trust Wallet provides a recovery or backup phrase to its users. This grants users direct access to the safe wallet if installed on a new device.

    Trust Wallet implements other security measures to safeguard users’ assets. The first is the passcode to the Trust Wallet app, which the user must set up.

    The passcode setup can be found in the ‘App Lock’ tab under ‘Security’ in settings. The App Lock can also be set so that the device automatically locks after a preset time frame, requiring a code to open.

    Users can initiate a two-factor authentication (2FA) process for extra security features using an authentication app like Authy or a text message sent to their mobile number.

    Finally, users can enable Face ID or Touch ID to increase the software app’s security.

    Opening an Account

    3 steps to start with Trust Wallet

    Getting started on Trust Wallet is straightforward. First, download the Trust Wallet application. Investors can obtain the app from Google Play or Apple Store on a mobile device. The software wallet also offers a desktop browser extension and APK file download options for better convenience.

    Private and Secure Features

    Once the app is installed, create a new wallet. Tap the ‘Create a New Wallet’ icon on the app’s opening screen. This will redirect users to the passcode segment, where they must fill in a six-digit code.

    Trust wallet secret phrase set up

    Once the code is filled in, the Trust Wallet app will randomly generate a set of 12-word backup or recovery phrases. New users must save this either in a password-protected app or note them down and store them in a safe place.

    Tokens available in crypto wallet

    Once the recovery phrase has been saved, the next screen will require the user to select the words according to their preset order. Once this is completed, the new wallet will become accessible. Users can then add or remove the tokens they want on their home screen. Crypto assets’ prices can also be tracked on the home screen.

    Trust Wallet App 

    Trust wallet mobile app

    Trust Wallet is a decentralized software application. It operates on mobile devices and has a browser extension for desktop devices. Trust Wallet is compatible with Android and iOS devices.

    The mobile app features a streamlined Web3 experience for all user types. Investors can easily send, receive, swap, and exchange digital assets by tapping a button at the top of their home screen

    Also, to store NFTs, users can easily switch from ‘Tokens’ to ‘NFTs’. This will allow them to receive NFTs from nine smart contract networks and also view them on OpenSea, a secondary NFT marketplace.

    Customer Satisfaction

    Trust Wallet has become a household name in the crypto space since its debut in 2017. The hot wallet has grown in leaps and bounds and secured over 25 million users. It has more than doubled its initial figure and is becoming increasingly popular as crypto adoption continues to rise.

    As per its customer satisfaction metrics, our Trust Wallet review showed that it was less than impressive. Out of a possible 486 Trust Wallet reviews on Trustpilot, a whopping 88% gave it a one-star rating, which is quite poor. Most users complained of the poor customer support services in helping to retrieve lost funds, while others said the support team needed to be more helpful.

    Who Should Use Trust Wallet?

    Who is Trust Wallet suitable for? The truth is, it’s not for everyone.

    Using a crypto wallet should be based on a user’s unique needs. For instance, high-volume crypto investors may not find Trust Wallet an ideal storage location because it is a hot storage option. Investors who use Trust Wallet are more prone to a hack if their smartphone is compromised.

    However, Trust Wallet may be well-suited to crypto novices and those who utilize cryptocurrencies for making purchases on the go.

    Why Use Trust Wallet? 

    Trust Wallet has become the go-to crypto wallet for the Binance ecosystem for various reasons. 

    The wallet is non-custodial, which means users retain full control of their assets and private keys. Investors’ transactions are private and safe. Transfers to other wallets can be processed without anyone being aware of them. The zero KYC requirement is also a huge privacy boost. Users’ private keys are not stored, nor are their details.

    But this is not all there is to Trust Wallet. The platform offers a strong crypto-earning service, a trove of assets to interact with, and serves as a gateway into the fledgling crypto ecosystem.

    How to Get Trust Wallet in the UK?

    Crypto enthusiasts in the UK can easily download the Trust Wallet software from the Google Play or Apple App Store. The download process is straightforward. Alternatively, they can download the browser extension on the Trust Wallet website. This extension is compatible with Chrome and Firefox browsers.

    Final Thoughts

    Proper crypto storage is becoming even more important as crypto hacks become more prevalent. And centralizing crypto storage has led to users’ losing their entire fortunes. Trust Wallet provides the best of both worlds as a decentralized and secure digital asset storage system.

    The application also provides a full suite of services that allows users to earn, store their digital collectibles, buy, sell, and swap crypto, and interact with more Web3 solutions, all in one spot.

    If you want to know more about Trust Wallet Competitors and other crypto wallets, you can check out our list of the Best Crypto Wallets in the UK. You can also read about our Coinbase Wallet UK Review as an alternative to Trust wallet.


    Most frequent questions and answers

    Trust Wallet is a decentralized storage solution, which means it is not under any regulatory oversight from the UK’s Financial Conduct Authority (FCA). The platform runs on open-source code and is entirely permissionless.

    New users can easily buy Bitcoin on Trust Wallet by tapping the ‘Buy’ icon and selecting ‘Bitcoin’ from the list. Insert how much BTC to buy and select a payment option. Follow the on-screen prompt, and the crypto asset will be deposited into the wallet.

    Investors are to tap on the ‘Settings’ icon on the bottom right-hand corner of the screen to change the fiat valuation of users’ cryptocurrency wallets to GBP. Click on ‘Preferences’ and select ‘Currency.’ Then choose ‘GBP’ from the dropdown menu.

    Withdrawing from Trust Wallet is simple. Select the crypto asset and insert the recipient wallet address after clicking send. Then input the amount and click on ‘Continue’ to proceed. Follow the on-screen prompt, and the transaction will be completed.

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