Metamask vs Trust wallet : Which is the Best in 2023
It's hard to keep up with the latest in cryptocurrency wallets. Do you use a Metamask, Ledger, or a Trust wallet? And which is the best one for you in 2023? In this blog post, we'll compare and contrast the two most popular wallets on the market today - Metamask and Trust wallet - so that you can make an informed decision about which one is right for you.
About Metamask
Metamask is a non-custodial (OTC) crypto wallet that allows you to receive, store and send cryptocurrency assets. Metamask wallet exists as an extension for Google Chrome browsers and a smartphone application. The developers of the wallet are ConsenSys, which first introduced it in 2016.
Pros and Cons
Pros:
Cons:
Metamask wallet Summary
Metamask Review Summary
We have analyzed key features of MetaMask based on 3 important criteria for choosing crypto wallet:
- Trustworthy
- Usability
- Number of coins
Based on researches and our own tests, we have made an independent rating.
About Trust wallet
Trust Wallet is a mobile cryptocurrency wallet that supports dozens of native assets in addition to popular tokens on Ethereum, Binance and TRON blockchains.
TWT token holders receive many benefits when using Trust Wallet, including discounts on in-app cryptocurrency purchases and on the use of decentralized exchange services (DEX).
Pros and Cons
Pros:
Cons:
Trust wallet Summary
Trust Wallet is considered one of the safest wallets available. It has a long list of features that make it one of the most highly sought-after mobile wallets on the market.
Some of its key security features include:
- AES-256 bit encryption with a 4096-bit key
- Touch ID and Face ID support for unlocking the app
- Integrated 2FA authentication
- Support for multiple cryptocurrencies and tokens, including Bitcoin, Ethereum, Litecoin, and many more.
MetaMask vs Trust wallet Comparison
The Trust Wallet performed better than MetaMask. The official mobile wallet of the Binance exchange is a multicurrency storage - it supports more than 50 blockchains, so it can store over 1 million assets. The wallet also has many useful features, such as the ability to buy cryptocurrency from a card without verification and so on.
On the other hand, if you are a fan of Ethereum and do not work with other cryptocurrencies, MetaMask will suit you perfectly. It is a convenient mobile storage, which can be used on a computer if necessary thanks to a browser extension.
METamask | Trust Wallet | |
|---|---|---|
Features | Hot non-custodial storage | Hot non-custodial storage Support for VTS, ETN, USDT and many other tokens (53 blockchains) Built-in exchange service Buying cryptocurrency from a card Browser for DApps |
Integrations | By API | By API |
Apps | For Android and iOS Extension for Chrome, Firefox, Edge, and Brave | For Android and iOSSoftware wallet & browser extension |
Free Rate | Wallet is completely free | Wallet is completely free |
Price | Transaction fee depends on the state of the network Exchange fee - 0,875% | Transaction fees depend on the state of the network |
Interface | English | English, Russian |
Trust and Security
Both MetaMask and Trust Wallet offer secure storage for cryptocurrencies and tokens. To keep these funds secure, both platforms support security practices that prevent vulnerabilities such as phishing attacks or startphrase hacks.
Unlike most centralized storage solutions, both Trust Wallet and MetMask do not support two-factor authentication because both do not store user data. Two-factor authentication (2FA) is a mechanism that helps users install a second verification method into their accounts or wallets.
User-friendly for beginners
Trust Wallet performed better than MetaMask. The official mobile wallet of the Binance exchange is a multicurrency storage - it supports more than 50 blockchains, so it can store over 1 million assets. The wallet also has many useful features, such as the ability to buy cryptocurrency from a card without verification and so on.
On the other hand, if you are a fan of Ethereum and do not work with other cryptocurrencies, MetaMask will suit you perfectly. It is a convenient mobile storage, which can be used on a computer if necessary thanks to a browser extension.
Blockchain support
Because the wallet MetaMask is designed to work with the Ethereum blockchain, it only supports Ether and ERC20 tokens. This wallet is designed to give users full control over their data and assets, so it does not store its users' data and assets. MetaMask is a mobile app, but those who want a desktop version can use the MetaMask browser extension. It is available for Chrome, Brave and Firefox browsers.
Trust Wallet allows users to accept and send cryptocurrency payments, buy coins via service partners, store NFT tokens, connect to decentralized finance platforms.
The main feature of the wallet is its multicurrency, as of today Trust Wallet supports 53 blockchains and more than 10 million tokens issued on them.
Compatibility
MetaMask allows users to easily connect to Ethereum dapps and Web 3.0 applications without having to run a full node or download a blockchain. The MetaMask wallet also allows users to store their own private keys locally on their device, rather than entrusting their funds to third parties.
Overall, accessing the Trust wallet is extremely easy. You can register and start using it within a minute. It is also open source, so its developers are usually quick to resolve any problems. You can also use it to make in-app purchases or send funds to others through various social media platforms. In addition, Trust Wallet offers enhanced security features, ensuring that your private keys are always stored locally and securely.
Types of transactions
By default, MetaMask works on the Ethereum network and charges a fee in ETH ("gas") for transactions. The exact amount of the fee depends on the network load at the time of the transaction.
Transaction fees in Ethereum have been too high lately. To pay less for transfers, you can use another network, such as Polygon, Fantom, or BNB Chain.
Trust Wallet provides an opportunity to buy cryptocurrency from a bank card right inside your wallet. The app does not charge for this operation, as it works through an intermediary, so the commission is taken by the intermediary, but it is included in the created purchase transaction.
To trade tokens, Trust Wallet connects directly to Binance DEX to allow users to trade. On the surface, everything looks like a traditional crypto exchange with an order book where you can create your own buy and sell orders. Keep in mind that trading on the exchange requires a network commission, as money is transferred directly from wallet to wallet.
Supported Cryptos
Trust Wallet supports 53 blockchains and more than 1 million assets. By default, the main wallet screen displays only three: BTC (Bitcoin), ETH (Ethereum), BNB (Binance Coin).
The main networks and tokens that Trust Wallet supports:
- Ethereum (ETH) and ERC-20 tokens;
- Bitcoin (BTC);
- Bitcoin Cash (BCH);
- Litecoin (LTC);
- Ripple (XRP);
- Ethereum Classic (ETC);
- Tron (TRX); and TRC-20 tokens;
- Dogecoin (DOGE);
- Cosmos (ATOM);
- Binance Coin (BNB) and BEP-20 tokens.
Initially MetaMask only had Ethereum, but today all popular Ethereum Virtual Machine (EVM)-compatible networks have been added to it. You can connect new mainnetworks in the application settings.
MetaMask now supports all cryptocurrencies of the following networks: Ethereum, Polygon, Fantom, Avalanche, Optimistic Ethereum, Arbitrum One, Aurora Network, Cronos, Harmony, Celo and EOS.
Payment methods
There are several ways to fund your Metamasc cryptocurrency account. As a rule, it is necessary to make a purchase of Etherium-based tokens and work with them or leave them for storage. To make the deposit procedure as accessible as possible, options are available to us on the platform using various resources.
Metamask wallet integrates the Wyre system, thanks to which we have the option to top up our account using a regular debit card. As a rule, this option becomes a classic by depositing funds into your balance.
There are several ways to fund the Trust Wallet: transfer funds from another wallet, use a transfer from an exchange, or buy cryptocurrency directly in the application with a bank card.
The wallet has a built-in option to buy cryptocurrency using Trust Wallet partner services.
It is worth bearing in mind that when buying cryptocurrency with the help of partner services, you will have to pay more than with a regular transfer from the exchange. The difference in price on the exchange and in the application ranges from 2.5% to 7%. It is more profitable to buy cryptocurrency on the exchange and then transfer it to the wallet.
Extra features
MetaMask has other useful features that we haven't talked about here. You can connect a hardware wallet (both Trezor and Ledger are supported), create a contact list, and, of course, receive and send funds as you would with a regular wallet. You can customize the extension to your needs.
Not every wallet has a connection to DApps, but in the case of Trust Wallet this possibility is provided thanks to the built-in browser. This is very convenient, because the user can connect, for example, to DEX-exchange and carry out transactions without unnecessary transactions and transfers of funds to the accounts of the trading platform.
One of the most interesting features of the Trust Wallet is stacking. The app gives users a choice of six coins to earn, which can be viewed in the "Finance" section.
Our Verdict: Which wallet is the best?
As assumed, the Trust Wallet performs better than MetaMask. The official mobile wallet of the Binance exchange is a multi-currency wallet - it supports more than 50 blockchains, so it can store over 1 million assets. The wallet also has many useful features, such as the ability to buy cryptocurrencies from a card without verification and so on.
FAQs
There's a lot of wallets out there, but I think Trust is one of the best. It's got everything you need whether you're storing your cryptocurrencies, cards or even valuable data like credit card numbers. The features are all there to keep your information safe and secure for as long as possible.
Coinbase is one of my favorite cryptocurrency wallets. They offer a simplified interface that's perfect for beginners and makes it easy to buy & sell digital currencies. Plus, they offer insurance against losses, which gives you peace of mind.
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You can use both MetaMask and Trust Wallet, but you need to import your account into Trust Wallet to do so. To complete this process, open MetaMask and click on the three lines in the top right corner. When this is done, select "Export." You'll then see the option to download your keystore file. This is the file you import into Trust Wallet.
In order to import your account into Trust Wallet, open the app and click on the "+" icon in the top right corner once you've opened it. Select "Import." When prompted, select "MetaMask" as the keystore type. If prompted for a password at this point, enter the password that you were given when you created your account. Once done, tap. Enter your password and import your account via "Import."
Disclaimer:
You should be aware of all the dangers connected with cryptocurrency trading and seek counsel from a financial expert who is not affiliated with any cryptocurrency exchange. This website's opinions, news, research, analysis, pricing, and other information are offered as general market commentary and do not represent investment advice.
