Trust Wallet Simplify Web3 Onboarding With Web3Auth Partnership

Key Points:

Trust Wallet collaborated with Web3Auth to make Web3 onboarding easier by utilizing social logins.
Users can access Web3 services using their existing social login credentials and other security factors, thanks to this collaboration.

Trust Wallet, one of the largest self-custodial and multi-chain wallets, has announced a collaboration with Web3Auth to allow users to seamlessly onboard and access Web3 services using their existing social login credentials, as well as other security factors.

Adopting Two-Factor Wallets is seen as a significant step in improving security measures in the crypto industry, given the growing importance of Web3. Users can access Web3 services using their existing social login credentials and other security factors, thanks to this collaboration.

Trust Wallet’s newly deployed Multi-Party Computation (MPC) solution, powered by Web3Auth, eliminates the current requirement of a written-down seed phrase, protecting users from human error and a single point of failure, thus enhancing account safety and security.

Prior to their recent partnership with Web3Auth, users had few options when it came to accessing major wallets, having to choose between a custodial solution with easier access but lower transparency or a fully custodial solution with higher risk and complexity.

Users will be able to use their existing Google, Apple, Telegram, and Discord accounts to access Trust Wallet services directly and quickly, significantly lowering the barrier to entry for new Web3 users. Users can also use SMS OTP and email recovery for added security and convenience.

Previously, when it came to major wallets, users had only two options: a custodial solution with easier access but lower transparency or a fully custodial solution with higher risk and complexity. With the new MPC two-factor solution, Trust Wallet users can easily explore the Web3 world across 70+ main blockchains in a seamless and secure manner while maintaining full ownership of their assets.

Trust Wallet’s Head of Product, Eric Chang, stated:

“This is a significant step for us because it benefits everyone involved. Users can now enjoy an easy-to-use experience while still choosing a self-custodial wallet to manage their cryptocurrencies. By integrating with Web3Auth, we keep providing greater user experience and long-term value to boost broader Web3 adoption.”

The Web3 onboarding process should be simple, and wallets are required. As the first point of contact, news users spend the majority of their time on web3 wallets to store, transact, swap, trade, connect, stake, and perform other actions. However, self-custodial wallets have not taken innovation seriously for a long time.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.