WalletConnect vs Trust Wallet- Best Comparison
Hundreds of Decentralized Apps (Dapps) use the WalletConnect protocol to connect with wallets and act as a bridge that connects Decentralized Applications (DApps) to your wallet such as the Bitcoin.com Wallet.
While Trust wallet is a hot wallet used for transacting with various supported blockchains with no interference from any third party.
In this article, we will be comparing the similarities and differences between WalletConnect and Trust wallet.
• WalletConnect is the web3 standard to connect blockchain wallets to dapps.
• WalletConnect is built into more than 100 leading wallets.
• WalletConnect now allows multiple active sessions.
• Trust Wallet is available only on the mobile version.
• It supports assets built on multiple blockchains.
• Users say the Trust wallet is not ideal for storing large crypto amounts.
• Trust Wallet supports more than 250,000 digital assets across over 30 networks. This is by far the biggest advantage of the wallet.
• Binance acquired Trust Wallet in June 2018.
So what is WalletConnect? And what is Trust Wallet? What are the similarities and differences between them?
What is Walletconnect?
Using WalletConnect, users can securely carry out transactions without divulging any personal information, making WalletConnect safer compared to browser extensions.
WalletConnect does this via its Mobile Linking feature that allows DApps to interact with mobile wallet apps.
What is Trust Wallet?
Similar to MetaMask, Trust Wallet is a Web 3.0 wallet with support for a variety of tokens and digital assets built on Ethereum’s ecosystem and beyond. This is a decentralized crypto wallet that comes with a mobile app as well as support for more than 100,000 digital assets.
It was founded in 2017 by Viktor Radchenko (a US-based Ukrainian software developer) and had since been operating as a non-custodial cryptocurrency wallet.
By design, the private keys in the Trust wallet are saved on your device. This means all transactions happen directly through interactions with the various supported blockchains with no third parties involved.
WalletConnect vs Trust Wallet
Both WalletConnect and Trust wallet serve as gateways from crypto wallets to DApps in the DeFi ecosystem. Let’s see and compare what both of them have to offer.
WalletConnect has a free-to-use service. It links wallet and DApps without extra charges. Trust wallet does not have a free version.
Both Trustwallet and WalletConnect lack the presence of 24/7 Live Support. Instead, there is online support for receiving queries and complaints.
WalletConnect is for anyone looking for an open-source protocol for connecting decentralized applications to mobile wallets
Whereas Trustwallet is specifically for individuals looking for a simple and secure mobile wallet for Ethereum and ERC20/ERC223 tokens.
WalletConnect is categorized into Crypto wallets and Defi Tools.
Whereas Trustwallet is classified into several categories such as Crypto Lending(Defi), Crypto staking, Crypto wallets, Cryptocurrency exchanges, DApps Browsers, Defi Tools, NFT wallets, etc.
WalletConnect has about 245 integrations such as Aave, Alpaca finance, Atlantis, Biswap, etc.
Whereas Trustwallet has about 66 integrations such as Biswap, Atlantis, Aave, Coin Tool, EverOwn, etc.
Alternatives to using walletconnect include; Fortmatic, MetaMask, WalletLink, Encrypted Ink, WallEth, etc.
Whereas alternatives to Trust wallet include; ZenGo, MyEtherWallet, 1inch wallet, Argent, Crypto.com Defi Wallet, etc.
WalletConnect serves only the purpose of linking and connecting DApps to mobile wallets for easy and secured transactions.
Trust wallet serves as a cryptocurrency wallet software that allows you to trade various cryptocurrencies safely.
Downloadable Software App
Trust wallet is available for download as a browser extension for Chromium and Mozilla Firefox-based browsers, and as an app on mobile for iOS and Android devices.
WalletConnect does not have an app and can only be accessed for use using codes embedded by developers in DApps and Crypto Wallets.
Trust wallet is available as an app for download on iPad, iPhone, and Android platforms, and also as SaaS Software.
WalletConnect is only available as SaaS (Software as a service)
WalletConnect utilizes an end to end encryption for its connection, giving DApps only the privilege of viewing the contents of your crypto wallet. Private keys are never shared and stay safely within your wallet.
Every transaction request on WalletConnect needs to be authorized by the user on the mobile wallet, making it safe to use.
To keep your funds safe, it conducts regular audits via the leading security firm Stateful. It also employs other security measures like pin code scanning or fingerprint scanning to add an extra layer of security. These measures can be manually activated by the user by customizing the “Settings” function in the app as soon as the user signs up into the wallet.
Trust Wallet also allows users to store the keys of their wallets in their personal computers rather than storing them on the Trust Wallet servers. This puts the users into sole responsibility for securely storing private keys.
SEE ALSO: Top 7 WalletConnect Scams to Avoid
SEE ALSO: How to Connect Binance Smart Chain Exte
Frequently Asked Questions (FAQs)
Is Trust wallet compatible with WalletConnect?
WalletConnect is an open-source protocol that is supported by many wallets including Trustwallet. You can connect your Trust wallet to DApps on a browser using WalletConnect.
Is WalletConnect and Trust wallet the same?
WalletConnect and Trust wallet are not the same. Trust wallet is a mobile crypto wallet app while WalletConnect is an open protocol that allows users to connect mobile crypto wallets, such as Trust Wallet, to DApps.
Does WalletConnect have an app?
WalletConnect does not have an app, but you can use it via wallet apps which are downloadable for iOS and Android.
Is WalletConnect safe?
It’s safe in the sense that it establishes a secure (encrypted) connection, with your approval, between your wallet and the DApps of your choosing. It also requests your approval for any transactions and never gives DApps access to your private keys.
In other words, when you connect to a DApp via WalletConnect, the funds in your wallet can’t be spent without your approval.
Is Trust wallet good for crypto?
Yes, it is. Trust wallet is one of the best and safest decentralized crypto storage. Trust wallet supports multiple crypto-assets and also gives interest in staking some popular coins like BNB, TRX, and more. There are also multiple dapp that help you to make swaps and apply for ICO and IDO through a smart contract.
Does Trust wallet use KYC?
No, it doesn’t. Trust wallet does not ask its users for any KYC compliances while setting up their account on the Trust wallet app because it is a non-custodial official crypto wallet app that does not store any user data on their servers.
WalletConnect offers a more secure way to connect to Dapps from a wide choice of wallets. So you can choose any wallet that you feel is the safest and most secure for you and explore DApps using WalletConnect. Also, it supports integration with some hardware wallets.
On the other hand, Trust wallet offers more functionality and ease of use with an inbuilt DApp browser in its downloadable mobile app.
Trust Wallet users can also easily connect to websites (DApps) and carry out transactions securely without revealing any secret information via WalletConnect
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