Trust Wallet is one of the most popular mobile crypto wallets in the world. People choose it for its simplicity: install the app, write down the recovery phrase, and you can already hold bitcoin, ether and USDT on different networks, swap tokens and connect to decentralized apps. According to the company, more than 200 million people use the wallet, and it supports over a hundred blockchains.
Popularity does not answer every question, though. How safe is Trust Wallet after the browser extension incident of December 2025? What exactly is its relationship with Binance? What fees are hidden in the built-in swaps? This Trust Wallet review helps beginners decide whether the wallet suits them and gives experienced users a sober look at its strengths and weaknesses.
You will learn how Trust Wallet works, which networks and features it offers, what transactions cost, how to install and secure the wallet properly, how it compares with MetaMask, and who should choose something else.
- What is Trust Wallet
- History and the Binance connection
- Supported networks and assets
- Key features
- Trust Wallet fees
- Security and known incidents
- How to install and set up Trust Wallet
- Pros and cons
- Who Trust Wallet is for
- Trust Wallet vs MetaMask
- FAQ
- Conclusion
- Sources
What is Trust Wallet
Trust Wallet is a non-custodial multi-currency wallet. Private keys are generated on the user’s device and are never sent to the company. You do not need an email, phone number or identity verification (KYC) to use it: the wallet is simply an app that stores keys and signs transactions. The flip side of that freedom is that nobody but you can restore access if the recovery phrase is lost.
The main product is the mobile app for iOS and Android. There is also a browser extension for Chrome and other Chromium-based browsers that lets you use dApps on a computer. The interface is built for a mass audience: large Send, Receive, Buy and Swap buttons, a clear list of assets and minimal technical jargon on the first screen.
If the terminology still feels confusing, start with our guide to what a crypto wallet is: hot, cold, custodial and non-custodial. It will help you see where Trust Wallet fits among other options.
History and the Binance connection
Trust Wallet was founded in 2017 by Ukrainian developer Viktor Radchenko. The first version focused on Ethereum and ERC-20 tokens. In July 2018 the wallet was acquired by the Binance exchange, its first-ever acquisition. Since then Trust Wallet has developed as a standalone product within the Binance ecosystem, and in 2022 Eowyn Chen became its CEO.
It is important to understand that Binance ownership does not make the wallet custodial. Binance has no access to your keys, and your Trust Wallet balance has nothing to do with a Binance exchange account. That said, the corporate link does shape the product: BNB Chain and the wallet’s own Trust Wallet Token (TWT) are deeply integrated, and partner services are often connected to the Binance ecosystem.
Over the years the wallet has grown from a simple Ethereum token store into a multichain platform with swaps, staking, fiat on-ramps, a dApp browser and the SWIFT smart contract wallet.
Supported networks and assets
Trust Wallet’s main advantage is breadth of support. The company cites more than 100 blockchains and millions of tokens. In one app you can hold BTC, ETH, SOL, TRX, TON, XRP, LTC, DOGE and countless tokens on EVM networks. For every network the wallet derives a separate address from a single recovery phrase.
| Network | Address format | Fee coin | Typical use |
|---|---|---|---|
| Bitcoin | bc1… (SegWit) | BTC | Holding and sending BTC |
| Ethereum | 0x… | ETH | ERC-20 tokens, DeFi, NFTs |
| BNB Smart Chain | 0x… | BNB | BEP-20 tokens, BNB Chain dApps |
| TRON | T… | TRX or Bandwidth/Energy resources | USDT TRC-20 transfers |
| Solana | Base58 address | SOL | SPL tokens, Solana DeFi |
| Layer 2 (Arbitrum, Base, Optimism) | 0x… | ETH on the L2 | Cheaper transactions in the Ethereum ecosystem |
A wide choice of networks is convenient but demands attention. The same token, such as USDT, exists on several networks, and sending over the wrong one is the most common mistake among multichain wallet users. We explain how to avoid mixing up networks in everything you need to know about USDT networks.
Key features
Swaps and cross-chain exchanges
The built-in swap lets you trade tokens within one network via connected DEXs and aggregators, and also swap across networks. The quote and final amount are shown before you confirm. As with other wallets, the convenience of the built-in swap comes with a service fee.
Staking
Trust Wallet supports staking for a number of Proof of Stake coins, such as BNB, TRX, SOL, ATOM and others; the list changes over time. Yields are not fixed and depend on network parameters and the validator you choose. Mind the unbonding periods: on some networks, unstaking takes several days.
Buying and selling crypto
Through integrated partners you can buy crypto with a bank card or other payment methods and, in some countries, sell it. These are third-party providers with their own rates, fees, limits and verification requirements, so it pays to compare their terms.
dApp browser and extension
The mobile app includes a browser for connecting to decentralized applications, and the browser extension offers the same on desktop. The extension supports connecting a Ledger hardware wallet, which significantly improves security when you use dApps.
SWIFT smart contract wallet
SWIFT is a separate wallet type inside Trust Wallet based on account abstraction. It lets you, for example, use a passkey instead of a classic phrase and pay gas with different tokens. It is convenient but newer and more complex technology, so study its terms in the official documentation before moving large amounts.
Trust Wallet fees
Downloading and using Trust Wallet for basic purposes is free. The company does not charge for holding, receiving or simply sending coins. Transactions still involve several kinds of cost:
- Network fee. It goes to the blockchain’s validators or miners. The amount depends on network load and the network itself: a transfer on Ethereum is usually more expensive than on a Layer 2.
- Swap fee. When you use the built-in swap, Trust Wallet adds its own fee to the quote. The rate is shown in the interface and may change; the final rate also depends on slippage.
- Fiat provider fees. When you buy crypto by card, a partner processes the payment and applies its own markup.
Practical tip: always look at the final amount you will receive, not just the rate. For larger sums, compare the built-in swap with alternatives such as DEXs used directly or exchange services with transparent rates.
Security and known incidents
Trust Wallet protects keys at the device level with a passcode, biometrics or PIN, and the backup is a 12-word secret phrase. Anyone who obtains the phrase gains access to all assets on all networks. Storage rules are covered in detail in seed phrase: what it is and how to store it safely. The wallet also offers an encrypted cloud backup to iCloud or Google Drive; it is convenient, but its safety depends on the security of your cloud account and the strength of the encryption password.
Part of Trust Wallet’s code is open: the Wallet Core library, which handles cryptography and blockchain logic, is published on GitHub. The app as a whole, however, is not fully open source. For a fair review, the incidents must be mentioned too:
| When | What happened | Who was affected | Outcome |
|---|---|---|---|
| Disclosed April 2023 | WebAssembly vulnerability in key generation | Addresses created in the extension between 14 and 23 November 2022 | Vulnerability fixed, affected users reimbursed |
| 24–26 December 2025 | Malicious extension version 2.68 published using a leaked Chrome Web Store key (supply chain attack) | Users of extension v2.68; the mobile app was not affected | Trust Wallet announced voluntary reimbursement for victims |
The lessons are simple. Browser extensions carry extra risk, so large amounts are better kept on a hardware wallet or in a separate wallet that never connects to dubious sites. updаte the app regularly, but follow official security notices. And remember: Trust Wallet support will never ask for your recovery phrase.
How to install and set up Trust Wallet
The process takes about five minutes, but the safety of your funds depends on getting this stage right.
- Download the app only via the link on trustwallet.com. App stores and search ads contain clones with similar names and icons.
- Choose “Create a new wallet”. If you already have a phrase, choose import, but never type a phrase that controls large funds into an untrusted device.
- Set a passcode and enable biometrics. This protects you from anyone who picks up your phone.
- Write the recovery phrase on paper. Save the 12 words in order and store them offline in a safe place. Screenshots and notes apps are a bad idea.
- Confirm the phrase. The app will ask you to sеlect the words in the correct order.
- Add the coins and networks you need. Enable the assets you work with and check the network before every deposit.
- Fund the wallet with the network’s native coin. To send tokens you need coins for the fee: BNB on BNB Smart Chain, ETH on Ethereum, TRX on TRON.
- Send a test transaction. A small amount confirms that the address and network are correct.
To pay fees on BNB Smart Chain you need BNB in the wallet. If you do not have any, you can exchange USDT or other crypto for BNB on RubyCash without registration, entering your Trust Wallet address on the right network. For more about the coin itself, see our BNB review.
Exchange USDT to BNB
Pros and cons
Trust Wallet advantages:
- A very wide choice of networks and tokens in a single app.
- A simple interface that beginners understand.
- No registration, email or KYC required.
- Built-in swaps, staking, crypto purchases and a dApp browser.
- Ledger support in the browser extension.
- Open-source Wallet Core library and a bug bounty program.
Disadvantages:
- It is a hot wallet: keys live on an internet-connected device.
- Service fee on built-in swaps.
- The app as a whole is not fully open source.
- A history of incidents involving the browser extension.
- The close tie to the Binance ecosystem is not for everyone.
- The large number of networks raises the risk of choosing the wrong one.
Who Trust Wallet is for
Trust Wallet is a good fit for beginners who want one clear mobile wallet for many coins, and for users who frequently move USDT across networks, work with BNB Chain or want to stake coins directly in the app. It is a handy everyday wallet for amounts you are comfortable keeping on a phone.
It is less suitable for storing significant savings, which call for a hardware wallet. Active Ethereum DeFi users often find MetaMask more convenient thanks to its desktop dApp compatibility. And people who insist on fully open-source software should look at open-source alternatives.
Trust Wallet vs MetaMask
These two wallets are often compared, although their philosophies differ: Trust Wallet was built as a mobile multichain wallet, MetaMask as a browser gateway to Ethereum. See our full MetaMask review for details on the latter.
| Criterion | Trust Wallet | MetaMask |
|---|---|---|
| Main platform | Mobile app | Browser extension and mobile app |
| Number of networks | 100+ according to the company | EVM networks, Solana, Bitcoin, TRON |
| Ethereum dApp compatibility | Good | Industry reference |
| Hardware wallets | Ledger (in the extension) | Ledger, Trezor and others |
| Owner | Binance | Consensys |
| Best for | Beginners, multi-coin storage | DeFi users, EVM ecosystem |
FAQ
Yes, Binance acquired Trust Wallet in July 2018. The wallet nevertheless remains non-custodial: Binance has no access to your keys, and funds in Trust Wallet are not linked to a Binance exchange account.
No. You do not need an email, phone number or documents to create and use the wallet. Verification may only be requested by third-party providers if you buy or sell crypto for fiat through the built-in services.
The December 2025 incident affected only browser extension version 2.68; the mobile app was not affected, and the company announced reimbursement. For everyday amounts the wallet remains a workable choice, but large sums are better kept on a hardware wallet.
Trust Wallet does not charge for a regular send; you pay only the blockchain’s network fee. The amount depends on the network and how busy it is. Built-in swaps carry an additional wallet service fee.
Most often the wallet lacks the network’s native coin to pay the fee. USDT on Ethereum needs ETH, on BNB Smart Chain it needs BNB, and on TRON it needs TRX or Energy. Top up the native coin and try again.
If the phrase is lost and you have no encrypted cloud backup, the wallet cannot be recovered. The company does not store your keys and cannot reset access. That is why you must write the phrase down when creating the wallet.
Yes, the Trust Wallet browser extension supports Ledger. The keys stay on the device, and every transaction must be confirmed on the Ledger screen.
TWT (Trust Wallet Token) is the native token of the Trust Wallet ecosystem, used for loyalty programs and in-wallet benefits. Like any crypto asset it is volatile, so buying it is an independent investment decision that carries risk.
Conclusion
Trust Wallet is a convenient, feature-rich mobile wallet that supports a huge number of networks. It works well for beginners, everyday transfers, handling USDT across networks, staking and getting to know dApps. The non-custodial model and lack of KYC give users full control over their funds.
At the same time, Trust Wallet is a hot wallet with a history of browser extension incidents, tied to a large corporation and charging a fee on built-in swaps. These drawbacks do not make it a bad choice, but they define the right way to use it: keep working balances there and savings on a hardware device.
Follow the basics — download the app from the official site, keep the phrase offline, check the network before every transfer and send test transactions — and Trust Wallet will be a reliable tool for managing crypto.