Watch Wallets, allow you to monitor transaction histories, volumes, prices of tokens, and more associated with a provided address.However, they don't permit transaction capabilities.Think of them as online bank statements - they provide visibility butnot transactional ability.Always remember to update your Trust Wallet to the latest version at trustwallet.com/download.
Concisely, here's what you can and can't do with a Watch Wallet:
✅ Monitor an address's transaction history
✅ Observe the volume and prices of tokens linked to that address
✅ Send tokens to that address
❌ Transfer funds from that address to either another wallet or an exchange like Binance
❌ Sign smart contracts
❌ Use the DApp browser
How to Import a Polygon Watching Address: A Step-by-Step Guide
1. Open Trust Wallet and tap on Settings.
2. Find 'Wallets' and then tap on the '+' sign at the top-right.
3. Tap 'Polygon', or any other supported chain.
4. Input the Wallet Address on the 'Address' tab, or scan the QR Code.
5. Name the wallet for easy recognition and click 'Import'.
Scammers exploit the 'Watch-Only Wallet' feature, claiming it can be 'unlocked' by sending funds, which isn't possible. Be secure and informed; 'unlocking' a Watch Wallet is technically infeasible.
We've updated the Watch Wallet feature with in-app designs and educational links, providing clear visibility of its capabilities and limitations. Be vigilant, stay updated, and let's secure the world of crypto together.
As depicted below, our developers have grayed out send, swap, and receive options to emphasize the wallet's viewing-only nature. If you suspect fraud, report it to local law enforcement and support.trustwallet.com. Please remember, once scammed, funds are irrecoverable.
This is a screenshot of a watch-only wallet. Please note that you can view balances, but executing transactions is not possible.
Ready to simplify and enhance your crypto experience? Explore our guide on the blog:
https://trustwallet.com/blog/watch-only-wallet-addresses-explained
FAQs
A watch wallet scam, also referred to as a watch-only spending scam, exploits the concept of watch-only wallets to deceive victims into sending funds. Scammers often contact potential victims through social media, email, or other platforms, presenting a lucrative opportunity.
Can a watch only wallet be hacked? ›
Yes a watch only wallet can be hacked, This is because Watch only wallets do not store or use private keys, and are therefore unable to authorize any spends on behalf of the user.
Can someone withdraw from watch only wallet? ›
How do I withdraw from a watch-only address on Trust Wallet? You cannot withdraw funds from a watch-only address. The only way to access the funds of any wallet is if you control the private keys or secret phrases of that wallet. Beware of any scams that say you can access funds from a watch-only wallet.
What is the meaning of watch only wallet in tonkeeper wallet? ›
Private keys are necessary to access and control the funds in a wallet, and a watch-only wallet does not have access to these keys.. The private key is used to control and access the funds in a cryptocurrency wallet.
How to get private key for watch only address trust wallet? ›
Obtain the private key associated with the public address in your watch-only wallet. This can typically be done by exporting the private key from the original wallet that was used to create the public address, so you're going to need your private key to be able to withdraw your money that's why we're here to help.
Can a watch only wallet receive bitcoin? ›
These wallets use only public keys, allowing them to show users their balances and receive bitcoin.
How do you unlock a watch only trust wallet? ›
To unlock a watch-only Trust Wallet, you'll need to import the corresponding private key or recovery phrase associated with the wallet. This will give you full access to the wallet's funds and transactions. Please make sure you handle your private key or recovery phrase securely and avoid sharing it with anyone.
Is watch wallet legit? ›
One common type of crypto scam is the watch wallet scam. These scams aim to trick you into sending your crypto to wallets that you do not own, under the false promise of accessing larger amounts of crypto.
Can someone use my digital wallet? ›
Digital wallet fraud involves unauthorized activities exploiting a person's digital wallet for illicit transactions. This may include using stolen credit card information. It may also involve creating fake digital wallets to trick individuals into revealing payment details. Fraudsters employ various tactics.
How do I withdraw ethereum from watch-only trust wallet? ›
No, it is not possible to withdraw funds from a watch-only address on Ethereum wallets like MetaMask and Trust Wallet.
Set up a watch-only wallet
- Open imToken on the networked mobile phone to complete the wallet creation.
- Click "My profile" - "Manage wallet" - "➕Add Wallet" - "Connect with other wallets" - "imToken (offline mode)".
- Click "Scan to connect", scan the QR code of the cold wallet, then check the wallet and click "Confirm".
withdrawing your BNB from a watch only wallet requires you to have the private key because the private key gives you full control of your wallet and without the private key, you can't make a withdrawal from your wallet and the main purpose of the watch only wallet is having access to view your wallet balance.
How to get secret phrase on trust wallet? ›
Step 1: Get the secret phrase from your browser extension
- Select Settings, located in the bottom row.
- Choose View Secret Phrase.
- Enter your password, then click on Reveal.
- Take note of your secret phrase.
When you're getting started with Trust Wallet, the platform's algorithm generates a 64-bit hexadecimal string of characters that act as your private key. As Trust Wallet is a decentralized platform, you are the only one who will hold this code. If you lose it, then it's gone for good.
Is watch only wallet safe? ›
The rapid growth of the crypto market has given rise to sophisticated scams like the watch wallet scam. These scams exploit users' lack of understanding about watch-only wallets, tricking them into believing they can access or spend funds, without a private key.
Can a watch get hacked? ›
Like any electronic device connected to the internet, smartwatches can be vulnerable to hacking. While it's not common for smartwatches to be targeted specifically, they are not immune to potential security risks.
Can someone hack a digital wallet? ›
Secondly, if you haven't locked your phone (with a password or biometric lock), your digital wallet is easily hackable; a thief could simply access your financial information and make a number of purchases or even withdraw money from your bank account before you've even realized your phone is gone.
Can my wallet be hacked through my address? ›
A: While it's unlikely someone can steal cryptocurrency with your wallet address alone, crypto wallets can be hacked through other means, such as phishing, malware, or social engineering tactics.
