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18 sats \ 2 replies \ @Scoresby 24 Jun \ on: Trust Wallet Claims to Have 200m Users security
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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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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