![]() Also, without it, you cannot access your funds if you lose your device. It is pivotal to your wallet safety because whoever has the recovery phrase has access to all funds in your wallet. The recovery phrase is essentially all your private keys transformed into a readable twelve-word format. Upon signing up, you will be assigned a wallet that you must back up with your recovery phrase immediately. Recovery Phrase - Your Passįor easy usage, Trust Wallet encrypts all assets’ private keys to create one master private key, which is then run through an algorithm to generate a unique 12-word phrase known as the Recovery Phrase. Each asset has a public key or address sent to other users to receive crypto and a private key for signing off transactions. ![]() ![]() The leading multi-asset mobile wallet interacts with 40+ blockchains and supports 160K+ digital assets. ![]() Users can also foray into the DeFi world, explore NFTs, or play blockchain games using the in-built DApp browser. Viktor Radchenko introduced Trust Wallet to allow users to send, receive and trade crypto in the simplest way. A public key (think bank account number) is an address that you send out to others to receive crypto, while your private key (think transaction pin) grants you ownership of the wallet. Your wallet keeps records of transactions using two keys, public and private. How Does Trust Wallet Work?įor newbies joining the crypto space, a wallet is a software that stores the private keys to your cryptocurrency holdings. In this article, you will learn how to tighten your wallet security as a Trust Wallet user. Last year alone, more than $1B worth of crypto was stolen in multiple thefts. While blockchain networks are notoriously difficult to hack, cybercriminals often find ways to manipulate users to gain access to their funds. Learn how to secure your Trust Wallet to ensure the utmost security for your digital assets.Ĭryptocurrencies are getting more prolific, but unfortunately, so are scammers and their schemes.
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