Digital wallets eliminates physical banks and makes it easy for people to transfer funds to their friends and family in any part of the world.

I do like this feature of digital wallets a lot, nowadays quick transactions is hat we are looking for and that what we left the centralized system. Even at midnight we can still process transactions without any difficulties.

Trust wallet happens to be the first wallet I used as a crypto beginner.

Well, I downloaded this wallet during the crypto academy era to answer some questions but afterwards I deleted it. Well now that you’ve outlined it’s benefits, I will add it to my wallets.

The only thing I’ve experienced is the lose of a wallet recovery phase and that made me lose all the funds

I’m very sorry to hear about that. I have also lost my MetaMask recovery phrase one time but I was luck to have nothing in there. You can save it in your Email in case you need it.

And this kind of wallet is known to be prone to online attacks which could thereby result to stolen funds.

Yes hot wallets are prone to cyber attacks but yet still everyone is saying they have never experienced any theft case with their hot wallet. You only suffer theft with your hot wallet if you make loose with your keys or click on fishy links.

Please do have time to visit my work as well. Good luck buddy..!!
https://steemit.com/hive-108451/@sadiqxylo/steemit-crypto-academy-contest-s3w3-the-wallets-by-sadiqxylo