Cryptocurrency is one of the famous terms that is used very popularly in the post-human world. It is a digital asset in which the money or coins are stored in the form of a ledger. Cryptocurrency wallet stores private and public keys for cryptos transactions. It is a physical medium. It doesn’t exist in physical form like paper currency, and it is not issued by legal authority as well. Trust Wallet and Crypto.com are two wallets where you can keep your crypto safely.
Trust Wallet vs Crypto.com
The main difference between Trust wallet and Crypto.com is that Trust Wallet is an American company that was started in 2017. In Trust Wallet, you can buy cryptocurrencies with a card. It is one of the biggest company in Cryptocurrency.Crypto.com is a Chinese company which was started in 2016. Here you can buy cryptocurrencies at a lower rate instantly with very minimum fees.
Trust Wallet is a private and secure wallet where you can buy cryptos with a card. In the Trust Wallet, one can easily earn interest if they are keeping currency in their wallet. Trust Wallet directs you to a third party interface if you have to buy a cryptocurrency, and it charges a high fee if we compare it to other wallets in the market. Cryptos can be kept safe from spammers and hackers in the Trust wallet. Prices can be tracked, and charts can be seen within the app.
Crypto.com is a Chinese company that started in Hong Kong in 2016. It is a digital currency brokerage where a user acts as a custodian and keep tracks of its Cryptocurrencies. From crypto.com, you can easily buy cryptos at a lower price. You can handle it as you like, but the private keys are hold by the Crypto app. It has quick access to various products that can help you grow, trade, and spend cryptos.
Comparison Table Between Trust Wallet and Crypto.com
| Parameters of Comparison | Trust Wallet | Crypto.com |
| Currencies | It has more than 1.6 lakh currencies. | It has 137 currencies. |
| Transactions | It can buy and sell coins. | It can buy, receive, withdraw, sell, send, and exchange. |
| Wallet | It is a multi-coin wallet. | It has Multi-factor authentication. |
| Documentation | It has no documentation. | It has documentation. |
| Blockchains | It has 40+ blockchains. | It has at least 4 of them. |
What is Trust Wallet?
Trust Wallet is open-source, which allows cryptocurrencies to trade safely. The wallet provides you with a key which in turn keeps your assets safe from unauthorised access. It is a multi-coin wallet where you can swap and exchange lakhs of coins. It has more than 40+ blockchain types as well. From the coins in your Trust Wallet, you can even buy credit cards with it. It is available for installation on both android and iOS devices.
It is used by both individuals and business owners for software development, accounting, and financial services. It has the following features like interest can be earned, a credit card can be exchanged, it comes with Decentralized apps(D apps), has secure access and multi-coin support. It is completely free and doesn’t charge any transaction fees. It is a very user-friendly app. It has a wide range of coins. It offers free software, and its app is completely transparent.
It has local key storage, which has been appreciated because it stores keys logically and not on the cloud. It is very easy to sell and buy cryptocurrencies in a Trust Wallet. Transactions are very faster, and multiple assets can be tracked from a single location. Trust wallet (D Apps) directory is very useful as it helps to find other merchants of crypto. It gives you access to many coins, and it teaches you how to invest in a coin.
What is Crypto.com?
Crypto.com is a cryptocurrency exchange that offers a native coin. It is very different from the cryptocurrency companies of the USA. It allows the users to trade, sell and buy cryptos. It also provides high-class security and a digital wallet. It also has its coin by the name crypto.com coin(CRO). If users have higher stakes in crypto.com, then they will receive more benefits. It is very popular and cheaper, unlike Trust wallet.
Crypto.com has such a trading structure that it rewards users if they have a high trading volume. It also rewards if you earn an interest in deposits, but their access levels are quite different from U.S. investors. It has very limited educational resources and customer services are not very responsive if we talk about its cons. It offers more than 100 cryptos. It has a two-step verification process, multi-factor authentication and encryption as well.
It has a maximum trading amount of almost $1 million. It also has a mobile app that runs on both android and iOS devices.Crypto.com offers various products like crypto pay at checkout, Visa cards, and several ways to earn crypto. It doesn’t offer any free educational materials, unlike Trust Wallet. It has Crypto Pay, Crypto Credit, Crypto Earn. Crypto.com supports 60 flat currencies like EUR, GBP, USD etc.
Main Differences Between Trust Wallet and Crypto.com
- Trust Wallet has more than 1.6 lakh cryptos and digital assets. Crypto.com has 137 currencies.
- Trust wallet can buy and sell coins, and it is very secure and fast in transactions.Crypto.com can buy, receive, withdraw, sell, send, and exchange, and it is safe.
- Trust Wallet is a multi-coin wallet. Crypto.com has Multi-factor authentication and AES-256 encryption.
- Trust Wallet has no documentation.Crypto.com has available documentation.
- Trust Wallet has 40+ blockchains.Crypto.com has at least 4 of them.
Conclusion
Both Trust Wallet and Crypto.com are very easy to use and have user-friendly app. Trust Wallet is one of the biggest company with lakhs of digital assets. Crypto.com has very low fees and some of the best collection of coin exchange. Both have the best cryptocurrency exchange. Both are very safe and secure to use.
Both have Blockchains on their platforms. Both are compatible with Android as well as with iOS. Both Trust Wallet and Crypto.com are used to buy and sell cryptos. Crypto.com is far better than Trust Wallet if we talk about investment and fewer fees. If the variance of assets is to be considered, then Trust Wallet is the best.
References
- https://hardjono.mit.edu/sites/default/files/documents/hardjono-icbc2021.pdf
- https://arxiv.org/abs/2102.12473