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  5. Apple removes Trust Wallet from its App Store. this is why

Apple removes Trust Wallet from its App Store. this is why



Apple removes Trust Wallet from its App Store. this is why
app, apple, store

Apple removes Trust Wallet from its App Store. this is why


On March 21, TrustWallet was no longer available on the App Store. The project team said on March 22 that the issue would be resolved as soon as possible. Trust Wallet assured users that their assets would be protected as the crypto is stored on the blockchain and the app only serves as an interface to their digital assets. Users have been temporarily warned not to update or reinstall the app. However, this did not affect Android users.

Many users were angry despite the guarantees. Some said they deleted the crypto app from their iPhones and wondered how they were going to get back into it, while others lost their crypto recovery phrases and everyone was worried about losing their crypto holdings.

Founded by Six Days LLC, Trust Wallet was acquired by Binance, the largest cryptocurrency exchange, in 2018. This was announced on the official Binance blog in 2018.

Trust Wallet allows users to accept and send cryptocurrency payments, purchase coins through a variety of service partners, store NFT tokens, and connect to various decentralized platforms.

However, access to decentralized apps is only available through the wallet browser and only on Android devices. In order to comply with Apple App Store guidelines and continue to offer services on iOS, this feature had to be removed from the iOS version of the app in 2021. iPhone owners can use the WalletConnect feature to access NFT and DeFi sites. .

Trust Wallet Stuck in Apple’s Vice-Like Handle in iOS Apps

Although the sudden disappearance of the app has not been officially explained, experts say that it is probably due to a violation of App Store policies again, especially those related to third-party payments. As the Trust Wallet website states, the app does not sell cryptocurrencies and users are redirected to a third-party provider, which appears to be the case.

Apple’s hegemonic behavior has affected many services. Unless you are a regulator at the national level, it is very difficult to take on such a giant. Such was the case with the Dutch regulator requiring Apple to follow an antitrust order related to dating apps in the Netherlands.

In response, Apple said it would retain a 27% commission on concessions and demanded “audit fees” on sales. Additionally, he said developers had to choose between recommending payment systems outside of their apps or using third-party payment systems.

Instead of being limited to one or the other, the Consumer and Markets Authority (ACM) has required developers to be able to do both. This proposal was not considered “serious” by Dutch regulators and fines of $5.5 million were upheld for nine consecutive weeks, for a total of $49.7 million.

The Dutch antitrust watchdog said Apple had submitted new proposals to resolve the dispute. Evaluate whether these proposals are sufficient or not.

Choose better alternatives

It is unclear whether Trust Wallet and Binance will take a similar stance against Apple or simply refuse to accept third-party payments. However, one thing is for sure: new iOS users will not be able to download it.

The best advice for anyone scratching their heads wondering which wallet to use instead, or worried it might happen to another wallet they’re using, is to look for wallet apps that probably won’t be removed from the App Store.

How can we be sure? In short, a wallet must not contain any third-party payment systems and all functionality related to payments and cryptocurrency exchanges must be provided by the developer of the wallet.

A good alternative solution that beats Trust Wallet in terms of functionality and security is NOW Wallet, a cryptocurrency wallet developed by non-custodial cryptocurrency exchange ChangeNOW. With NOW Wallet, users can easily store and exchange around 400 cryptocurrencies on the go. The wallet also supports around 60 fiat currencies and NFTs. As it is a non-custodial wallet, you have full control over your private keys and funds.

Crypto.com DeFi Wallet is also worth checking out, which supports over 100 coins and allows users to send crypto at their preferred confirmation speed and network fees.

Image: Pixabay

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