No difference for the app. If your device is secure your funds are safe, if your device is compromised every app at your phone can be compromised.
Okay. So I don't necessarily need a cold wallet then? Even if I bought one would it work with Trustwallet for tx etc?
Cold wallet are wallet with no connection with the internet. If you mean hardware wallet (trezor, ledger, Safepal,…) they are special devices where you need to make a physical confirmation of the transaction (push a button for example) so it’s impossible to someone do it through the internet. If you import your seed phrase to any other app in a device connected to the internet your security will depend on the security of the device.
Thanks for the detailed reply. Yes I meant them. I can be very paranoid so let's say I bought a hardware wallet. If I import my hard wallet seed phrase to TrustWallet where it is installed on a compromised device, can it still get hacked or is it still gonna ask for my permission to confirm tx by the hacker? You mentioned (push a button for example)
When you import your seed to several apps all of them can move your funds without permission from the others. That’s why you should not let anyone know your seed phrase. Be careful. If you import the seed from a hardware wallet to a software wallet both will be able to move funds, independently one from the other. Just like those remote control for garage doors, if you set up two devices with the same code it doesn’t matter witch device you use, both will open it. This happens because the 12 words generate a signature that allows the funds in a specific address to be moved. Any other combination of 12 words will allow moving funds from another address.
Thank you so much!
Don’t forget to search more about this matter at google. The more you know, the more you’ll be able to understand how to keep your funds safe. And then you can help your friends and family to be safe too. TrustWallet is safe, but can’t resist to user errors like giving away the seed phrase for example. Knowing how it works is not necessary, but helps to not make any mistake.
Обсуждают сегодня