Curious about the security of mobile wallets. Why are they considered less secure than other wallets? I currently use Trust Wallet which uses fingerprint ID or a pin. If my phone were to be compromised how would anyone be able to access it? How could they obtain my pin/fingerprint?
The definition of security is limited to the way you deal with the wallet. For example, if you are neglected and you download a lot of applications or give a lot of permissions, you will lose your money.
Downloading the wallet on the phone is safe if you do not download any untrusted application on that phone.
The fingerprint and others prevent the physical access to those currencies, meaning that they will benefit you if someone physically tries to access/hack your phone.