MetaMask vs Trust Wallet: Best Wallet To Secure Your Crypto
With blockchain technology providing strong alternatives to classic finance, apps, and more, it’s a given it’s here to stay. So, you should know about the available tools and their disadvantages as well as their capabilities.
With so many wallets available, it’s easy to think all of them are similar, given how many features they share. For that reason and others we will see later; you must do your research carefully. While this can generally take a long time and be difficult or tiring, we’ve got you covered.
Choosing the right wallet will save you money, after all… And that’s all we are about.
In this article, we will be comparing MetaMask vs. Trust Wallet, two of the most popular crypto wallets. Once you are done with it, you will choose the best wallet for your needs. Let’s get started!
MetaMask vs. Trust Wallet: What Are They?
MetaMask and Trust Wallet are software wallets that support plenty of features, and they are up to date on some of the most promising features in the crypto world. Still, both present the classic features any wallet should have and several more.
However, they differ on several key aspects, such as supported networks, currencies, features, and more. This also includes the team behind them, something you should never oversee. Let’s take a closer look.
What is MetaMask?
Having five years in the market, MetaMask is a well-tested, trustworthy wallet designed to work with the Ethereum blockchain. ConsenSys created it, and for a few years, it was only available as a desktop browser extension.
Because of how popular it became, launching a mobile version was paramount for ConsenSys, which it did in 2019. Now serving over 21 million users worldwide, it transformed into one of the most valuable wallets.
The mastermind behind ConsenSys is Joseph Lublin, one of the co-founders of Ethereum. If he believes in Ethereum’s potential, we should probably think too!
What is Trust Wallet?
Trust Wallet supports Ethereum, ERC20, and ERC223, meaning it can handle many of the most valuable features from the Ethereum Blockchain. This wallet strives to stay easy to use but highly functional and is doing a great job. It is open-source and backed by a large community, meaning it’s developed quickly and with the user experience in mind.
The wallet’s mission is to make crypto accessible to everyone, which is already making it a reality. We are sure it is a good force in the crypto world with state-of-the-art features and a well-done app.
This wallet is not a small project supporting over one million assets and 53 different blockchains. The wallet was initially developed by Viktor Radchenko and later acquired by Binance, one of the biggest cryptocurrency platforms in the world.
What Features Does Each Wallet Offer?
Probably the first thing you should ask yourself is, what can I use this for? After all, without any features, wallets would serve no purpose. Next, we’ll see what features each of these wallets have to offer.
MetaMask is widely known as a wallet, but many of the uses it provides are under appreciated. This is because the wallet offers way much more features than just storing and transacting with crypto. Let’s see why it stands among the most useful software for operating in crypto.
When most things are done through our mobile devices, computers are often neglected by software teams. However, working from a computer is usually more comfortable and more straightforward than in our handheld devices. When doing that, this browser extension becomes vastly advantageous.
This extension was the first way to use MetaMask and is preferred by many users even today. This is evident when you see it has been downloaded by over ten million users with great reviews.
Ethereum’s native cryptocurrency (ETH) is supported by MetaMask, as well as other ERC-20 tokens. This makes possibilities virtually endless when working with this wallet, as the Ethereum network already holds over 200,000 tokens.
In MetaMask, token trading can be carried out under the ‘Swaps’ option. It combines data from decentralized exchange aggregators, market makers, and DEXs. This improves your chances of finding the best prices for your transactions and paying minimum network fees.
Support for decentralized apps is a door to the future, and MetaMask knows it. You can explore available apps sorted into categories or use the search to find the one you like. This is one of the most exciting and promising features from Ethereum, so make sure to check it out!
MetaMask recently launched support for Ethereum Improvement Proposal (EIP) 1559. If you operate with Ethereum and haven’t heard about this, you should learn how it works.
This implementation is expected to increase ETH’s price, including the burning of some funds when transactions are executed. The main advantage of EIP-1559 is that it will give users more precise information regarding the fees that will be applied to their transactions. No more surprise fees when transacting with crypto!
MetaMask supports NFTs natively in the app under the ‘collectibles’ option. However, in the MetaMask browser extension, support for NFTs is limited. Stay tuned, as it is likely to be added soon.
Trust Wallet presents support for all the classic features you will want from a crypto wallet and more. It has quickly become one of the most popular wallets due to this vast support.
While Trust Wallet does not sell crypto, you will find an option to buy from third-party providers. A handy feature for beginners since you can do all of your crypto transactions in the same app.
Whether you are an Android or iOS user, Trust Wallet has you covered with its app. The user experience is excellent without sacrificing capabilities, and it flows like water. Recognizing that our phone is with us throughout most of the day, having your crypto wallet in it is crucial.
In Trust Wallet’s DEX Portal, you will be able to set buy or sell orders, see the order book, and more. Operating in it is straightforward with a look and feel similar to that of a classic exchange.
Trust Wallet will allow you to create up to 10 wallets within the app. Adding or importing new wallets takes only a moment, and managing them is very simple. This is a must-have feature for any app if you own more than a wallet. Even if you only have one, you could find it helpful in the future.
Not only does Trust Wallet support staking, but it also allows you to do it for free. In that sense, you won’t get a cheaper offer anywhere.
11 coins are supported in this way of earning assets, so your coin of choice is undoubtedly among them. While Trust Wallet is constantly working on adding more options, these are the currently supported coins:
- Binance Coin (BNB)
- TRON (TRX)
- Tezos (XTZ)
- Cosmos (ATOM)
- Terra (LUNA)
- VeChain (VET)
- Callisto (CLO)
- Kava (KAVA)
- TomoChain (TOMO)
- IoTeX (IOTX)
- Algorand (ALGO)
We recommend you check the latest information on supported currencies on the official site.
Non-fungible tokens have exploded disproportionally since they were launched, and Trust Wallet lets you get them quickly. Supporting ERC721 and ERC1155 from Ethereum, as well as BEP721 and BEP1155 from BSC, this wallet has you covered.
This art and technology revolution is still growing, and Trust Wallet allows you to store them and access them with ease. Collectibles are secured on the blockchain and associated with a public address. These assets can see huge price improvements, so you want to know they are safely stored. Trust Wallet will make that easy for you.
Trust Wallet features a Web3 browser that allows interaction with any decentralized app, whether in the Ethereum network or Binance Smart Chain. With security and simplicity in mind, this tool was designed to be easy to use on mobile devices, and this means the content is shown clearly, whether it is on your phone or tablet.
How Secure Are These Wallets?
We can’t overlook security features when choosing a wallet or any other type of crypto service. Doing so is risky, and the protection of your online funds should be in good hands.
When comparing MetaMask vs. Trust Wallet in terms of security, keep in mind both are decentralized wallets. This means neither of these companies participates in our transactions, which are done directly in a peer-to-peer manner. This is regarded as generally safer, as involving third parties increases security risks.
Let’s see what else each of these apps has to offer in terms of security.
Security in MetaMask
MetaMask’s team has done a great job both in developing features and in documenting their use. All you need to do as a MetaMask user is to learn how to use it properly.
Let’s take a look at what makes it one of the most secure wallets.
Even if unauthorized people do not usually touch our phones, it is essential to take precautions. MetaMask will ask you to set up a password, but you can later use biometrics to log in. Forced logouts are part of its security policies, which is annoying but will help prevent unauthorized usage of the app.
Hardware Wallet Support
Hardware wallets are some of the safest, if not the safest, ways to store crypto. MetaMask works seamlessly with some of the most well-known hardware wallets: Lattice, Ledger, and Trazor.
If you have a decent amount of funds, you should think about getting one of these devices. They provide an excellent level of security without compromising usability too much, which is excellent for your crypto’s security.
Secret Recovery Phrase
If you live in the 21st century, you most certainly know what a password is. However, experts believe using only a password sometimes isn’t enough for some online uses. Therefore, Trust Wallet implements an extra layer which is called Secret Recovery Phrase.
This phrase is set up when you first start using the app and should be saved offline and privately. That phrase protects your data, and this phrase is encrypted locally using your password. If your device is lost or damaged, you can recover wallet access through the Secret Recovery Phrase.
Another thing to keep in mind is the password is unique to the instance of MetaMask you set it up for. So you can use different passwords for your mobile app and browser extension and remember each one.
Security in Trust Wallet
In Trust Wallet, securing your funds is easy and straightforward. Theft of funds should be a big concern for us users, and this app knows that. Trust Wallet’s team is concerned with spreading awareness and providing features to prevent loss of assets.
The team also runs a blog full of valuable tips, which can be convenient whether you are a Trust Wallet user or not. Next, we’ll see which are the features that stand out and make this app secure.
In this app, all asset’s private keys are encrypted into one master secret key. This private key is then used to generate a 12-word phrase, which will be your Recovery Phrase.
When received, you should backup this recovery phrase as soon as possible. All the words in this phrase have to be written down precisely in the same order. Then, it is best to store it in multiple secure locations to prevent unauthorized access to your funds.
Passcode With/Without Biometrics
It is recommended you create a passcode for your app to add an extra layer of security. After doing that, you can set an auto-lock, so you are protected if someone gains access to your device. Depending on your device, you can also add Touch ID or Face ID to unlock the app.
Which Customer Support Is Better? Trust Wallet or MetaMask
Security and usability are great, but what if something goes wrong? What if you can’t find something you need? These are valid concerns, so let’s address how customer support works in each of these apps.
At the forefront, MetaMask has a well organized FAQs page divided into several categories. There, you will find all of the information needed to get started. Payments, swaps, security, and even troubleshooting are easily explained and accessible on the FAQs page.
If that is not enough to solve your issues, and for many other uses, you can use the MetaMask Community. This community is a very active forum discussing all of the app’s features and much more!
You can visit its Knowledge Base for serious problems you can’t find in either of those resources. There are loads of information on those sites, covering almost any issue you can face.
However, there’s always the possibility to submit a support ticket. Keep in mind demand can go up and down, so it’s hard to predict the response time. In any case, you can trust the support team will surely do its best to help you!
Trust Wallet has a short FAQs page with a few important subjects. However, you can find the most helpful information in Trust Wallet’s Community. Divided into nine categories, including another FAQ section, it has countless articles covering many topics.
Finally, if needed, you can submit a ticket to the support team, which will guide you in the right direction. Keep in mind transactions are irreversible, so if you send funds to the wrong address, there’s nothing they can do. If that happens, you will have to contact the person receiving your funds if possible.
What About Fees? Which of These Wallets Is Better?
Both look like excellent products when comparing MetaMask vs. Trust Wallet, but operating with crypto can be costly sometimes. Of course, you should keep in mind blockchains charge their fees, which vary significantly from one to another. Those are mainly paid to miners, and none of those funds go to MetaMask or Trust Wallet.
We will now revise the costs of operating in each of them. We believe this is another strong point of these apps, given how cheap the service is.
In MetaMask, you will pay a service fee only when using Swaps. This is 0.875% of the transaction and will be automatically factored into each quote. Depending on how you look at this, it can seem like a high cost. However, MetaMask will do its best to keep your gas costs as low as possible. In practice, your transactions can end up being cheaper than on other platforms.
Trust wallet will not charge fees for any of your operations. Transactions, Swaps, or DApps will not generate fees for Trust Wallet. 0% in fees!
Also, note that the option to buy crypto relies on third-party providers. These companies will indeed charge you when converting fiat to crypto, which is something to keep in mind-
What Cryptocurrencies Does Each Platform Support?
MetaMask supports ETH and any ETH-based token independent of their standards, making MetaMask less convenient for many users looking to invest in other coins. However, with Ethereum being the most excellent network, chances are you can still benefit significantly from this wallet’s capabilities.
Trust Wallet supports 53 blockchains and over one million assets, including thousands of coins. These are the main ones:
|Bitcoin (BTC)||Ethereum (ETH)||Binance Coin (BNB)||Litecoin (LTC)||Ripple (XRP)||Dogecoin (DOGE)|
|Solana (SOL)||Polygon (MATIC)||Thorchain (RUNE)||Polkadot (DOT)||Zcash|
|Binance Coin (BNB)|
|Dash (DASH)||TRON (TRX)||Tezos (XTZ)||Cosmos (ATOM)||Stellar (XLM)||Bitcoin Cash (BCH)|
|Ethereum Classic (ETC)||Filecoin (FIL)||Fio (FIO)||Elrond (eGLD)||Nano (NANO)||Fantom (FTM)|
|Arbitrum (ARETH)||Optimism (OETH)||Terra (LUNA)||Avalanche (AVAX)||xDai (xDai)||Eco Chain (HT)|
|Zelcash (ZEL)||GoChain (GO)||POA Network (POA)||VeChain (VET)||Wanchain (WAN)||Callisto (CLO)|
|Kava (KAVA)||ICON (ICX)||TomoChain (TOMO)||Firo (FIRO)||Kin (KIN)||Nimiq (NIM)|
|Thunder Token (TT)||Aion (AION)||Theta (THETA)||Ontology (ONT)||Groestlcoin (GRS)||Qtum (QTUM)|
|Viacoin (VIA)||IoTeX (IOTX)||Ravencoin (RVN)||Zilliqa (ZIL)||Waves (WAVES)||Aeternity (AE)|
|Nebulas (NAS)||Decred (DCR)||Algorand (ALGO)||Near (NEAR)||Digibyte (DGB)||Harmony (ONE)|
Which Wallet Is Best for You? MetaMask or Trust Wallet?
Comparing MetaMask vs. Trust Wallet, we should keep in mind what we need from them. Both are very close in the features they support, how secure they are, and the customer support they offer.
If you prefer to work from your computer, you must try using MetaMask’s browser extension. This is what puts MetaMask slightly ahead in functionality.
This is because while MetaMask has more minor integrated features, it has a considerable advantage over Trust wallet… It works as a key for most of the Ethereum ecosystem, and this means you can use it to join crypto gaming, DeFi, and NFTs ecosystems quickly and more easily.
If you would like to know more about MetaMask or Trust Wallet, make sure to reach our in-depth reviews!
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