If you are new to the world of cryptocurrency, you must have heard of the term “crypto wallets” being thrown around.
They are nothing but tools that help you securely store your digital assets, either online or offline.
There can be two kinds of wallets, depending on how you wish to store your assets- software and hardware.
As obvious from the name, software wallets or hot wallets store your crypto coins or tokens on your device using applications or programs you have installed.
On the other hand, hardware wallets or cold wallets are physical devices that hold your digital assets and are more difficult to tamper with.
With so many digital wallets burgeoning, traders and crypto enthusiasts often become clueless about which wallet to go for.
Two of the most popular and secure crypto wallets out there, namely MetaMask and Trust Wallet top the list of several users.
However, when it comes to narrowing it down further to one, it becomes a difficult task.
However, there is no need to worry- in this blog, we will be analyzing Trust Wallet Vs MetaMask, so that you can choose the wallet that fits you.
Why Do You Need A Software Wallet?
Before we dive right into the Trust Wallet Vs MetaMask analysis, let us answer a very important question that plagues a lot of traders, “why is it necessary to store your assets in a wallet?”.
Many novice traders who are just starting out often second-guess the necessity of crypto wallets since you can just store your coins and token on the exchanges you use.
Truthfully, you could always do that but the real question is whether that is safe or not.
Even though you will receive a wallet once you establish a crypto exchange account, you will not have access to the private and public keys.
Controlling your keys implies controlling your coins.
These exchanges function similarly to banks; they are a third-party provider that you rely on to keep your currencies safe.
Nevertheless, there will always be the possibility of the exchange being shut down or hacked, leading to the loss of cryptocurrencies.
Due to the absence of legal regulations on exchanges as well as for cryptocurrencies in general, and also the industry’s freshness, the best method to keep your assets secure is to have complete authority over them.
Possessing your own crypto wallet is the only way to have complete control.
Trust Wallet vs MetaMask: Differences
Both MetaMask and Trust Wallet are leading cryptocurrency wallets that have become the go-to destination for many traders wishing to securely store their assets.
Both the wallets are digital platforms where you can store, purchase, send, receive and even exchange cryptocurrencies.
Both of the wallets are beginner-friendly and have a simple interface, making it easy for new traders to get started on the platforms.
However, there are essentially two factors that distinguish both the wallets.
The first is that MetaMask is supported on both desktop and mobile versions (iOS and Android).
For the desktop version, you will be required to install a chrome extension.
On the other hand, Trust Wallet is only supported on mobile devices and there is no way to access it on your desktop.
The second is that Trust Wallet has a far wider range of blockchains that it supports on its platforms.
Even though it was built solely on the Ethereum network, since its acquisition by Binance in 2018, Trust Wallet has diversified to include a huge number of tokens on its platform.
On the other hand, MetaMask only supports assets built on the Ethereum network. As a result, MetaMask is the less versatile option of the two wallets.
Overview of Trust Wallet
Trust Wallet, without a shred of doubt, is one of the best cryptocurrency wallets out there.
It is a decentralized platform that supports more than 150,000 tokens and has over 10 million active users.
Trust Wallet was founded by Viktor Radchenko in 2017 and since then, it has been functioning as a non-custodial crypto wallet.
Trust wallet has been approved for use on the Binance smart chain after it acquired the wallet back in 2018.
This enables Trust wallet users to have access to Binance services as well as a plethora of additional networks that come with the usage of Binance.
Binance/Trust Wallet traders will have access to additional custom networks as well as a slew of new integration and monitoring tools.
Users will be able to construct several wallets and enjoy more exposure to the marvels of the cryptocurrency world as a result of such capabilities.
Trust Wallet is a cryptocurrency wallet that also functions as an Ethereum wallet.
Trust wallet supports a wide range of cryptocurrencies that may be moved or stored in transactions with the highest security and safety.
You can avail the features of Trust Wallet for free since the platform charges no fee except the required transaction fee, which they use to compensate validators and miners.
Let us go over the main features of the crypto wallet one by one:
- Uses: The wallet facilitates the safe storage, transfer as well as receipt of digital assets. With Trust Wallet, you can not only send and receive cryptocurrencies but also get access to many DApps, thanks to the Web3 browser built inside the app. Because Trust wallet accepts both NFTs as well as for cryptocurrencies, we may exchange NFTs for games and other products. NFT games and fun activities can assist users in gaining profit and interest by just doing anything in their leisure time.
- Binance: As already mentioned, the wallet was acquired by the popular exchange Binance in 2018. This means that along with the features that come with Binance, you also get to have access to additional features such as native DEX, custom networks, and deep integration.
- Security: There are various safeguards in place to protect Trust Wallet customers from any cyber threat. Touch ID, passcodes, Face ID, as well as two-factor authentication are used to protect the user’s digital currencies in the Trust wallet. Furthermore, once you create an account on Trust Wallet, you get a private key as well as a seed backup.
- Accessibility: The Trust Wallet platform is only supported on mobile devices and is available for both iOS and Android devices. The app provides easy accessibility since you do not need to enter any personal details when signing up. Nor do you have to pay any charge.
- Language: The Trust Wallet app supports nearly 12 languages. This makes it suitable for a wider range of users.
All in all, Trust Wallet happens to be the type of wallet that can effortlessly guide people through the world of cryptocurrencies.
With regards to simple accessibility as well as transaction recording, it functions similarly to a debit card.
It is one of the most flexible blockchain networks, providing consumers with simple and safe entry to the domain of decentralized markets.
Pros and Cons of Trust Wallet
Overview of MetaMask
Much like Trust Wallet, MetaMask is yet another digital wallet that is built specifically around the Ethereum network.
Using MetaMask, you can have access to your Ethereum wallet through their mobile app or browser extension.
The browser extension is accessible for Chrome, Firefox, Brave, and Microsoft Edge.
Aside from the Ethereum network, customers have accessibility to a plethora of additional decentralized apps.
Because it is a portable wallet, you may send and receive Ethereum-based assets at any moment via the Ethereum network.
One of MetaMask’s most important security features is its key vault. MetaMask provides adequate capabilities for securely connecting individuals to their crypto assets.
With the help of account keys, you may safely sign in to your digital wallet and handle transactions. Ethereum is not the only asset you can use.
Once you have safely logged into the wallet, you will be able to browse the Bitcoin network and other decentralized applications.
MetaMask was originally found in 2016 but at that time, only the browser extension for the wallet was available.
Next in 2019, it decided to introduce its mobile application, thanks to the wallet’s rising popularity.
Since then, it has garnered 5 million active users and has become the favorite wallet for many traders.
Let us go over the main features of the crypto wallet one by one:
- Uses: The wallet facilitates the safe storage, transfer as well as receipt of Ethereum-based digital assets. Not only that, but users also get access to many decentralized apps.
- Accessibility: The MetaMask wallet is available on both mobile and desktop. Even though the platform has been around since 2016, it wasn’t until 2019 that users could access the mobile application.
- Security: The wallet’s private key is encrypted and stored in the database of MetaMask. Users can export it anytime they wish. With private keys as well as QR code functionality, this Ethereum-based wallet rivals the best cryptocurrency wallet in the industry in terms of security.
- Custom RPC: Users can leverage the wallet to switch between the Ethereum mainnet as well as other major testnets.
- Language: The MetaMask Wallet supports nearly 11 languages. This makes it suitable for a wider range of users.
Overall, if you are looking for a safe Ethereum-based wallet, then MetaMask should be your top choice.
It has an incredible encryption technology that stores passwords as well as private keys on every user’s device.
Besides, the wallet’s accessibility is a major plus point for several users.
Pros and Cons of MetaMask Wallet
Trust Wallet vs MetaMask: Which is Better?
Both the wallets are great, in their own regard. However, this makes people more confused as to which wallet to settle for.
In the following section, we will go over the most important features you need in a digital wallet as well as the performance of both the wallets in that category.
Trust Wallet allows you to send, store, as well as receive digital assets in a safe and secure manner.
You may also use the app to generate interest from blockchain games, gather cryptocurrencies as well as NFTs, and gain access to the majority of DApps and Defi platforms.
Metamask, on the other hand, allows users to safely connect to decentralized applications via a compliant built-in smartphone application and store and monitor operations, and account keys, and send or get Ethereum-based assets and cryptocurrencies.
When it comes to the compatibility of both wallets, it is no doubt that MetaMask is the winner.
As already mentioned, unlike Trust Wallet which only offers a mobile application, MetaMask also comes with a browser extension option that allows you to access your wallet on your desktop.
This makes it easier for users to access their funds as and when they wish, without any difficulties.
Cryptocurrencies That Are Supported
Trust Wallet as well as Metamask both offer a broad range of coins.
However, Trust Wallet comes out on top in this respect because it offers thousands of unique assets throughout 33 supported blockchain systems and all ERC-20 tokens.
Metamask, however, only enables the storing of ERC20 currencies and requires the use of wrapped derivatives like WBTC to hold international tokens and Bitcoins.
User Interface of the Apps
Trust Wallet offers a more contemporary and user-friendly UI than MetaMask.
They arrange the coins one after the other, making the overall appearance less disorganized.
In addition, the notification function in Trust Wallet tells you anytime you get a token.
When it comes to the transfer function of the platforms, both the wallets feature easy options for the transfer of digital assets.
Both Trust Wallet and MetaMask offer a QR code option which you can scan and then go ahead with the payment.
If you wish to send your coins to a different address, you can even manually enter the address and proceed with the transfer.
Fees are critical in the cryptocurrency world since they account for a sizable portion of the business’s revenue.
The Trust Wallet app charges no fee for you to be using its platform.
The wallet only charges a minimal transaction fee which they do not use for their own benefit but instead, pay miners and validators for their hard work.
On the other hand, MetaMask doesn’t charge you anything either, for using its platform.
However, you will need some amount of Ethereum in order to initiate a transaction through the platform.
Which one should I use, Trust Wallet vs MetaMask? This question does not have a specific answer because it is dependent on the trader’s specific demands and needs.
Both have their own set of services as well as features to provide. They both support a variety of coins and networks.
Because these wallets are built on smart contracts on the blockchain, the distinction is backed up by research depending on individual needs.
We hope we have been able to help you to narrow your search and choose the wallet that best fits you.
Despite the fact that the MetaMask wallet has been available for a longer time and has a far larger base of users than the Trust Wallet app, we can confidently conclude that Trust Wallet provides more crypto alternatives than MetaMask.
It allows you to hold more digital currencies across more than 30 networks, whereas MetaMask only serves the Ethereum blockchain.
Remember that whichever choice you will be making, you will be choosing a safe and secure wallet since the features of both the platforms are quite similar and where one lacks, the other compensates.
We hope that after reading this article, you got the answer to Trust Wallet vs MetaMask.