Today we will be comparing two popular crypto wallets, Trust Wallet vs MetaMask to see which wallet is a better choice for Australian crypto-traders
Crypto has become the new oil of this decade and the innovation that we are going to see in the field of cryptocurrency is immense yet pending.
People who are investing in cryptocurrency today believe that it is going to be the currency of the future and we are going to be at the center of this revolution.
One of the key aspects of cryptocurrency is making sure that your cryptos are safe and secure from any external or technical threats. Crypto wallets are those dedicated spaces that are used to store the private keys of your crypto assets.
Trust Wallet vs MetaMask Wallet Reviewed
Having a dedicated crypto wallet that ensures a high level of privacy and follows secure industry-standard security protocols can make an impact on the way we trade cryptocurrency.
The constant threat of losing your investments could be the worst nightmare to have. And to take care of these challenges new online crypto wallets are emerging everywhere around the internet and finding out which one is the most reliable and worth the price to pay is becoming more and more difficult.
This Trust wallet vs MetaMask wallet comparison review will dive deeper into the details of these wallet solutions. So without further ado, let’s get started.
Trust Wallet vs MetaMask Wallet Comparison
|Trust Wallet||Metamask Wallet|
|Available cryptocurrencies||All ERC20 Tokens + Bitcoin||All ERC-20 Tokens (Ethereum)|
|Hardware Wallet Compatibility||No||Yes|
Coming from the house of the Binance crypto family, the Trust wallet is one of the most trusted and widely used crypto wallets in this world.
It was founded in 2017 but acquired by Binance later on and now Trust wallet has become better than ever with world-class security features and advanced crypto support.
Trust wallet allows its users to start with cryptocurrencies in under five minutes of the setup process. From the features of staking and crypto swapping, the Trust wallet provides a smooth user experience.
The refined application of the Trust wallet allows its users to keep a track of all their transactions in one place without the hassle of going through a detailed checklist.
A wide range DApp support makes Trust wallet one of those wallets in the market that entertains cross-application integrations.
Trust Wallet Pros And Cons
In this segment of the article, we are going to discuss some of the major benefits of using a Trust wallet along with discussing the cons for which it could be avoided.
- Trust wallet is a free-to-download and easily available global crypto wallet
- It is compatible with Android and iOS both.
- Completely open-source application code structure
- Allows buying, selling, storing, staking, and swapping digital assets
- Completely free to use and no explicit or implicit charges
- Trust wallet is not as secure as any hardware wallet.
- Trust wallet comes from the ownership of Binance and thus those users who are willing to avoid Binance completely may not like Trust wallet as well
Can Trust Wallet Be Trusted?
Trust wallet is one of the most secure online wallets available in the market. Hardware wallets are considered to be the epitome of security when it comes to storing your cryptocurrencies but when it comes to online wallet solutions Trust wallet shines as the list topper.
Trust wallet provides a completely open-source application structure that adds credibility to the secure layers of this wallet.
A wide user base and community support provide regular feedback to improvise the security measures.
Trust wallets do not need your personal details or any KYC to be completed to start transacting through their wallet, all they need you to do is to store a seed phrase which is going to be the final login option for your wallet. So yes, a Trust wallet can be trusted.
Can You Sell On Trust Wallet?
Yes, one can sell on Trust wallet using its coin swap options provided within the wallet.
MetaMask is an Ethereum-based cryptocurrency wallet that entered the market in 2016. MetaMask is primarily a browser extension-based wallet but now MetaMask has its own mobile applications for both Android and iOS.
Ethereum wallet allows its users to store, sell, buy, and share any cryptocurrency that is based on the Ethereum blockchain.
It allows the swapping of tokens with ease and comes with inbuilt third-party DApps integrations. MetaMask crypto wallet acts as a non-custodial wallet and does not store any sensitive information related to your crypto in their server and all the private keys are stored locally in the user’s device.
MetaMask Wallet Pros And Cons
Using a Metamask wallet has many advantages, but it also has some drawbacks that can be avoided, which we’ll go over in this section of the Trust Wallet vs MetaMask Wallet comparison.
- MetaMask is a non-custodial wallet and does not store any private keys online
- It is a web-based crypto wallet and does not need any extra installation into the users’ system.
- Recently launched mobile applications that provide an easy-to-use interface
- Wide range of support for crypto tokens and NFTs
- Metamask has a completely open-source structure
- MetaMask is a web-based wallet that makes it more susceptible to any cyber-attacks
- MetaMask does not support non-Ethereum blockchain tokens
Is MetaMask A Hot Or Cold Wallet?
All the crypto wallets are categorized into two categories; hot wallets and cold wallets. All the software wallets come under hot wallets and all the hardware wallets come under the umbrella of cold wallets. Metamask crypto wallet is one of the software and web-based wallets and is a hardware wallet solution.
Can MetaMask Hold Bitcoin?
Metamask can only hold those cryptocurrencies which are based on the Ethereum blockchain and thus MetaMask cannot hold Bitcoin in its wallet.
Can I Use MetaMask On My iPhone?
MetaMask recently launched its mobile applications both for Android and iOS so if you are an iPhone or any android user, you can use MetaMask mobile applications to access or create your new crypto wallet.
Trust Wallet Features
Trust wallet comes with a lot of features which makes it one of the most popular choices in the market. However, the key highlight is the staking feature offered by Trust wallet for its users to stake some specific cryptocurrencies and give them a feasible return.
The open-source application structure invites professional scrutiny and makes sure that the application stays on the top with regular security updates.
Trust wallet is also a non-custodial wallet which makes it stores all the cryptocurrencies locally on the users’ device. Coin swapping along with a wide range of decentralized applications support makes it a versatile choice when it comes to online crypto-wallets.
MetaMask Wallet Features
MetaMask wallet is a web-based crypto wallet provider that was designed to provide a hassle-free crypto experience to those users who transact cryptos over the web and do not want to go through the hassle of logging in to an online wallet.
The web extension of the MetaMask wallet is powerful enough to conduct and store all the crypto needs of its users. MetaMask wallet makes all the effort to provide a completely secure crypto storage environment for its users by following all the industry-level security protocols.
MetaMask also offers a wide range DApp support along with support for storing your NFTs. MetaMask crypto wallet could be an ideal choice for those users who want to store only Ethereum coins, tokens, and NFTs.
Trust Wallet vs MetaMask Wallet Features – Winner
Well, the features offered by both the wallets are extremely similar in their nature, and hence, deciding the winner on the basis of features alone could be really difficult.
On one hand, where the MetaMask wallet cannot store anything other than Ethereum-based tokens, on the other hand, the Trust wallet does not have a web-based wallet feature such as MetaMask wallet browser extensions.
After considering different aspects of the feature list we are calling it a tie between MetaMask and Trust wallet.
Trust Wallet Beginner Friendliness
Trust wallet is a mobile wallet and hence providing a better user experience through an innovative user interface is the primary objective of Trust wallet. Its easy-to-use applications and wide range of community support make Trust wallet a beginner-friendly crypto wallet.
MetaMask Wallet Beginner Friendliness
MetaMask wallet not only provides a dedicated browser extension for its users but also provides intuitive mobile applications on both Android and iOS smartphones. The easy installation of the browser extension and high accessibility make MetaMask crypto wallet extremely beginner-friendly.
Trust Wallet vs MetaMask Wallet Beginner Friendliness – Winner
In terms of beginner friendliness, MetaMask takes the lead due to the presence of dedicated browser operations and a hassle-free onboarding process for its new users.
The mobile application of MetaMask comes with an intuitive design and thus seals its place as the segment winner.
Trust Wallet Security
Trust wallet is an-open source wallet that does not hold any of your personal information or private keys in their online servers, making it a 100% non-custodial wallet.
The security levels of a Trust wallet can be guessed by the fact that if you lose your seed phrase then there is no way to recover your wallet assets, not even from the Trust wallet’s end.
End-to-end encryption of keys is another security precaution taken by this wallet.
MetaMask Wallet Security
MetaMask is also a 100% open-source wallet solution and provides a non-custodial experience to its users just like Trust wallet.
End-to-end encryption in MetaMask wallet is decoded using the user’s password thus providing a security firewall; however, most password-protected encryptions are susceptible to phishing attacks.
Following good cyber security habits is an essential part of trading crypto, no matter how secure your vendor is.
Trust Wallet vs MetaMask Wallet Security – Winner
Trust wallet and MetaMask wallet, both of them take extra steps to secure the crypto assets of their users. However, MetaMask accounted for security breaches in the past and that does not go to the positive side of their overall security image. Trust wallet, on the other hand, did not face any such breaches and thus emerges to be a winner in this segment.
Trust Wallet Fees
Trust wallet is a completely free cryptocurrency wallet that does not charge any kind of fee or commission from its end users.
Although while transferring your funds a small amount is charged as a transactional fee which does not go to the profits of the Trust wallet but to the charges levied by the blockchain.
Hence, if you are looking for a completely free and secure wallet solution for your crypto assets it could not go cheaper than Trust wallet.
MetaMask Wallet Fee
Unlike Trust wallet, Metamaks is not a free wallet as it charges a variable fee to its users. The charges levied as the transaction fee by MetaMask wallet are inclusive of the blockchain charges.
The variable fee of the MetaMask cryptocurrency wallet is applied on the coin swaps and can range from 0.3% to 0.85%
Trust Wallet vs MetaMask Wallet Fees – Winner
Again Trust wallet is clearly a winner in this department as it provides a completely free wallet for its users, on the other hand, MetaMask charges a sizable swapping fee which could be because of the high maintenance cost of the Ethereum blockchain.
So if you are someone who wants to deal in a free crypto wallet then the Trust wallet is the wallet you are looking for.
Trust Wallet Supported Coins
One of the biggest USPs of the Trust wallet is that it provides support for over a million kinds of digital assets on its crypto wallet. Trust wallet supports all blockchain projects across the world and that makes it an extremely versatile choice as a crypto wallet.
MetaMask Wallet Supported Coins
MetaMask wallet supports only Ethereum-based crypto projects that restrict its range of supporting other widely used coins. ERC-20 is one of the Ethereum child blockchains that is also supported by MetaMask.
Trust Wallet vs MetaMask Wallet Supported Coins – Winner
Trust wallet emerges to be a clear winner in this segment as Trust wallet not only beats MetaMask but almost all other competitors present in the market with its huge support base.
MetaMask Wallet Vs Trust Wallet Mobile App
The Trust wallet and MetaMask wallet both come with industry-standard mobile applications which are available on both iOS and Android.
The Trust wallet being a completely mobile-based wallet provides a more refined experience for its users but MetaMask wallet is catching up with the Trust wallet with their mobile applications.
Trust Wallet Customer Support
Trust wallet has an immense user base and handling the needs of these users can be a major challenge however, Trust wallet has deployed social media contact support which includes Twitter, Facebook, Instagram, or discord, making their support team accessible to most of their users. Trust wallet also provides dedicated email support if required.
MetaMask Wallet Customer Support
With an aim to provide detailed information about their product MetaMask wallet has deployed a detailed website that can be accessed by anyone at any time making sure that all the simple problems are solved without the need for any support or assistance.
Other than that MetaMask crypto wallet provides an email-based customer contact that is not only responsive but also effective.
Trust Wallet vs MetaMask Wallet Customer Support – Winner
When it comes to customer support both the wallets are considered not too good or not too bad but when we put them head to head, Trust wallet wins the segment with a quicker response time of their social media customer support team.
MetaMask is also not too far behind from Trust wallet but the single contact option does not go in its favor.
Trust Wallet vs MetaMask Wallet Final Verdict
Trust wallet and MetaMask wallet are industry leaders in their particular segments but when we place Trust Wallet vs MetaMask Wallet against each other, things get really exciting and deciding the final has been a real challenge for us.
After analyzing different aspects of both of these wallets we found the Trust wallet to be a more secure, reliable, and user-friendly option, and hence, the Trust wallet could be a better choice if you are looking for the things that any normal crypto trader will need.