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 phone you are using will make the difference whether you can lose funds or not. If you are using an iphone, the thief or hacker cannot crack it as iphone provide much better security. Also you will find less apps which are malware effected in App Store. On the other hand, Android phones are more likely to be hacked and we should not keep big amounts in mobile android wallets.