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Trust Wallet Claims to Have 200m Users
725 sats \ 5 comments \ @OT 23h security
Big claim for a scammy crypto wallet. I heard it on a Bitcoin Park podcast with Troy Cross.
How do we migrate noobs who believe in self custody, but haven't understood Bitcoin from crypto?
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18 sats \ 2 replies \ @Scoresby 22h
A lot of these crypto wallets claim huge user numbers. But they're often wallets with built trading functions. People want to make money.
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17 sats \ 1 reply \ @OT OP 21h
This doesn't make sense to me. Why not just leave it on the exchange?
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18 sats \ 0 replies \ @Scoresby 21h
Perhaps people have heard it isn't "secure," so they go for them fake security of some of these wallets.
It is a standard HD Wallet (Hierarchically Derived), employing the standard derivation schemes, interoperable with many other wallets: BIP39 for recovery phrase, BIP44/BIP84 for account derivation. source
And Trust Wallet claims they don't have access to seed phrases. So, maybe people feel like it's better than leaving it on an exchange while still being able to do exchange things:
They support selling bitcoin in the app with fiat going to your bank account. Not many bitcoin-only self custody wallets do this. And they let people store a bunch of different shitcoins:
As a leading self-custody multi-chain platform, we support millions of assets across 100+ blockchains. From Bitcoin, Ethereum, and Solana, to Cosmos, Optimism, and much more. source
I do wonder how many of the 200mm number have actually done more than download the app.
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18 sats \ 0 replies \ @hasherstacker 21h
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0 sats \ 0 replies \ @LibertasBR 15h
A lot of shitcoiners out there.
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