MetaMask and Trust Wallet are the leading cryptocurrency wallets today. But which of the two is better? Although their core purpose is to offer storage for crypto assets, the two wallets have varying features. In this guide, we will compare MetaMask with Trust Wallet. Keep reading to learn more.
Exploring Trust Wallet
Trust Wallet is a popular cryptocurrency wallet that lets users buy, sell, and store digital tokens, both fungible and non-fungible. Moreover, it also offers staking services.
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The wallet is non-custodial, meaning users are responsible for keeping their private keys safe. Additionally, Trust Wallet users are able to make crypto transactions without providing personal information.
Trust Wallet started its operations in 2017. It is the brainchild of Viktor Radchenko. The largest crypto exchange, Binance, acquired the wallet in 2018 to give users an option of storing their cryptocurrencies in a decentralized manner.
Trust Wallet is popular for being secure and user-friendly. It has a DApp browser that allows users to explore various decentralized platforms such as SushiSwap and PancakeSwap.
Exploring MetaMask
Like Trust Wallet, MetaMask allows you to buy, sell, and store fungible and non-fungible crypto assets. This wallet is also non-custodial, so you get to retain the private keys.
Although MetaMask supports other blockchains, it is largely known as an Ethereum wallet. As its user, you will access several decentralized apps to explore investment opportunities.
MetaMask comes as a browser extension and mobile application. The former can be accessed through Brave, Opera Firefox, and Google Chrome, while the latter is available on the Play Store and App Store.
Blockchain enthusiast Aaron Davis is the founder of MetaMask. Since launching his project in 2016, it has been used by over 10 million users. One key feature of this wallet is its ability to allow users to customize gas fees, giving them control over transaction costs.
Comparison Between MetaMask and Trust Wallet
User Experience and User Interface
Trust Wallet is considered more friendly to beginners than MetaMask. That’s because it enables users to link their Binance or Coinbase account, making it simple for newbies to store digital assets.
In terms of the user interfaces of the two wallets, they are both intuitive. Trust Wallet and MetaMask have mobile apps and browser extensions that come with simple user interfaces, making it easy for anyone to trade and store cryptocurrencies. The big difference between the wallets is that Trust Wallet offers crypto staking while MetaMask does not.
Security
Regarding security, neither Trust Wallet nor MetaMask offer multi-sig support or two-factor authentication. However, these wallets don’t keep your personal data. Moreover, they let users protect their funds by enabling them to create strong passwords and adopting other security measures such as Face ID or Touch ID.
It is worth mentioning that MetaMask and Trust Wallet are hot wallets. What this means is that they offer online storage of digital assets, making them vulnerable to cybersecurity attacks.
In terms of attacks, MetaMask hasn’t reported any major exploits. Trust Wallet, on the other hand, lost over $4 million to hackers at the start of this year.
Supported Tokens
Trust Wallet supports more blockchains than MetaMask, meaning it can store thousands of tokens built on those chains. As for MetaMask, only Ethereum and layer-2 blockchains are supported. So, the tokens that the wallet can store are limited.
Fees Comparison
Both Trust Wallet and MetaMask are free to use. But the latter charges a 0.87% fee on every swap completed on its in-built exchange, while the former processes all swaps at zero charges.
However, Trust Wallet imposes a 1.5% fee when a user purchases a crypto asset on a third-party exchange within the wallet. But the good thing is this fee is avoidable if you hold at least 100 TWT, the native token of the wallet.
Backups and Private Keys
As mentioned, the two wallets are both non-custodial, so they don’t hold your private keys. As for backups, Trust Wallet and MetaMask give each user a recovery phrase to ensure they are able to regain access to their wallets in the event they lose their passwords.