More and more people are entering crypto and DeFi every day. Therefore, simple and reliable ways to access them are more critical than ever. At first glance, this may seem simple—just keep your crypto on the cryptocurrency exchange and be done with it.
However, it doesn't work that way. Exchange wallets don't provide enough insurance or security to keep your assets with peace of mind. In crypto, we like to say: "Not Your Keys, Not Your Coins."
This begs the question, if you keep your assets in an exchange wallet, are they really your assets? The answer is obviously no. Therefore, anyone even half-serious in crypto relies on non-custodial wallets. These wallets keep your crypto safe and secure without relying on third-party institutions, giving you a massive advantage over exchanges.
Today we’ll compare two of the most popular non-custodial cryptocurrency wallets, MetaMask vs. Trust Wallet, to make sure you guys understand where to store your assets safely and which one, MetaMask or Trust Wallet, is a better fit for your personal needs.
We at bitoftrade have prepared this comparison table to give you a clear idea of the main differences and commonalities between MetaMask and Trust Wallet.
First things first, let’s shine some light on the MetaMask crypto wallet.
Crypto Wallet MetaMask Review
The MetaMask is a blockchain-based decentralized Ethereum wallet developed by ConsenSys to make interaction with the decentralized web, decentralized applications (dApps), and other blockchain-based decentralized protocols much easier. MetaMask makes transferring, swapping, trading, and storing ETH-based tokens, NFTs, and other rare collectibles effortless.
It was essentially launched as a Chrome and Firefox extension, but now you can literally sew your MetaMask Ethereum wallet into Opera, Safari, Brave, and others. Furthermore, the web3 wallet MetaMask is available on iOS and Android, making it even easier to interact with this best Ethereum wallet. Moreover, it makes it possible to sync MetaMask wallet to the account on your desktop in a matter of seconds.
The MetaMask wallet default links to the Ethereum network, but you may easily connect it to other blockchains. So let's jump into this part.
MetaMask Blockchain Wallet: What Blockchain Networks Does MetaMask Support?
The MetaMask can be connected to multiple networks and switches between them with a few clicks. You can set up any network compatible with the Ethereum network and use the app on other MetaMask supported blockchains. This dramatically simplifies cooperation with many projects, sales, crypto transfers, and other activities.
Here is a list of the 9 most popular networks you can link to: If you want to know more about how to add a network to MetaMask, follow the link and enjoy our comprehensive MetaMask overview with a step-by-step guide.
MetaMask is an intuitive, minimalistic, pared-back app with a user-friendly UI design and easy-to-use even for newbies. It creates the minimum hassle when buying, sending, or receiving crypto or NFTs. One of the primary MetaMask crypto wallet features worthy of focusing on is its encryption technology, which helps to securely save all passwords and private keys, connect multiple wallets at once, and easily switch between various networks.
Another benefit that MetaMask offers is connecting to other crypto wallets you might own by importing private keys. By the way, this also applies to Trust Wallet. Just copy and paste your private keys, and you’re all set.
Moreover, you can buy crypto with fiat directly from your MetaMask wallet using credit and debit cards, Apple Pay, and Google Pay, making buying crypto much more manageable.
Let’s have an in-depth look at other notable MetaMask functions.
MetaMask dApp Interaction
The MetaMask wallet has become popular among crypto enthusiasts due to its functionality. However, one of the most exciting features that set it apart from others is its opportunity to connect and interact with decentralized applications (dApps), which are rapidly increasing in popularity.
Before MetaMask, you had to provide the private keys to your crypto wallet to interact with dApps, which is extremely risky. The MetaMask dApps wallet changed things, becoming a kind of bridge to dApps for every user.
However, you must be cautious when connecting to dApps or giving them any permissions. For example, certain types of transactions need to provide a dApp access to your money. In fact, there have been cases of dApps being explicitly developed to trick users and steal all of their assets once they've provided a certain level of access.
The staking on MetaMask is not available yet, but it doesn’t apply to staking WITH MetaMask! You can securely link your wallet to any cryptocurrency staking platform or website, so if you own a lot of crypto on the Ethereum blockchain, or even others as you wish, there’s a fat chance to stake and earn interest on your crypto while lying on the couch.
But how safe is MetaMask?
What About MetaMask Safety?
If you're asking yourself how secure is MetaMask, you have nothing to worry about. The MetaMask wallet is one of the most secure and trustworthy wallets in crypto. It has many built-in features, including password protection, two-factor authentication, and more, to help keep your data and assets safe from hackers and scammers. Furthermore, MetaMask allows you to export your MetaMask private keys for backup purposes whenever you need them.
The major weakness of MetaMask is its Internet connection, making it vulnerable to thieves, phishing attacks, and hackers. Therefore, you must ensure you use a safe browser and never enter suspicious websites. One more thing: make sure you download MetaMask from the official website; otherwise, you may be defrauded.
The MetaMask is a free and open-source hot wallet that can be used with any Ethereum-based platform. You can download it on the official website to get started.
When we’ve covered the main points, let’s highlight MetaMask wallet pros and cons.
MetaMask Pros and Cons
To finish up, we’d like to underline the main pros and cons of MetaMask. Let’s start with the advantages of MetaMask:
- Accessible to most people on any device.
- It has a user-friendly and intuitive UI and is extremely simple to use.
- It offers a high level of security due to its encryption technology.
- It supports ERC-20, enabling interaction with Ethereum dApps.
- It can be linked to any blockchain compatible with the Ethereum blockchain.
- You can connect other wallets to MetaMask with private keys.
- It is entirely free to use.
- It’s an online wallet and can be hacked if your browser is hacked.
- Sometimes the network is overloaded, and transactions are too slow.
When we’re done with the crypto wallet MetaMask review, let’s move on to the Trust Wallet review to compare them fairly and decide who wins the buttle.
Trust Wallet Review
Trust Wallet is one of the best options for anyone who wants to manage their coins on the go. Unfortunately, there is no Trust Wallet desktop version. Instead, this decentralized multi-crypto wallet is presented as a mobile app for managing assets. You can easily buy, store, collect NFTs, exchange, and earn over 4.5 million cryptocurrencies and NFTs from your device without leaving the app.
The Trust Wallet non custodial wallet is owned and deeply integrated with Binance, opening even more possibilities for every crypto enthusiast.
Moreover, Trust Wallet is developed on the basis of the Kyber Network protocol, making it possible to connect with various DEXs. This allows you to make instant swaps due to constant liquidity.
One more thing worth mentioning is Trust Wallet supported blockchains.
How Many Blockchains Does Trust Wallet Support?
You can safely store most of the tokens on different blockchains with Trust Wallet. It was initially designed to hold ERC20 and ERC223 tokens, but now there are over 65 Trust Wallet supported blockchains and around 4.5M+ assets, including NFTs. That is why you will be hard-pressed to find crypto or blockchain that’s not supported by this wallet.
Trust Wallet Features
Trust Wallet UI is great and straightforward, making it easy to get the hang of the app quickly and effortlessly.
The versatility of Trust Wallet across blockchains is its most notable feature. This gives users much freedom to explore the crypto realm and allows them to conveniently store and manage their crypto.
One more hallmark of Trust Wallet is its built-in exchange feature, allowing users to instantaneously trade tokens or even buy cryptocurrency with a credit card.
But that's not all the Trust Wallet can offer you. So let's take a look at other benefits.
Trust Wallet dApp Interaction
Trust Wallet is the way to go if you'd like to play some crypto games or use your wallet with dApps. The wallet has a built-in web3 browser, giving easy and secure access to any dApp on BNB Chain or the Ethereum network. So naturally, the integrated interface is thoroughly tested and optimized for Trust Wallet, so you can enjoy the dApp explicitly designed for your mobile device.
If you want to start your dApps journey with Trust Wallet, just follow the link and enable dApp browser on Trust Wallet now.
Trust Wallet Token (TWT)
One more thing we at bitoftrade like the most is that Trust Wallet launched its own BEP-20 utility token—Trust Wallet Token (TWT)—to provide users with various perks inside the Trust Wallet mobile app.
TWT token holders get access to a range of benefits, including discounts on in-app cryptocurrency purchases and the usage of DEX services inside the Trust Wallet. TWT holders may also engage in Trust Wallet governance and vote on upgrading ideas, helping shape the app's evolution.
Trust Wallet Staking Feature
Trust Wallet enables you to earn while you sleep or run your own business. The staking on Trust Wallet is key to success and is available inside the app. It puts your assets to work with interest rates as high as 11% Trust Wallet APR (Annual Percentage Rate). Nevertheless, the percentage of APR may differ from time to time. All this is great, but is Trust Wallet secure and safe? Let’s touch on these Trust Wallet issues.
Is Trust Wallet Safe?
Trust Wallet is both secure, trusted, and completely open-sourced. This means that the underlying software code is open to anyone to take a peek at, audit, and independently verify its security.
What is more, you have complete control of your private keys, so the safety of your assets is entirely dependent on how secure you store your Trust Wallet private key.
However, Trust Wallet has no 2FA, so hackers can get into your account more easily.
Trust Wallet Pricing
Both Trust Wallet and MetaMask are entirely free to use. You should not worry about how much does Trust Wallet charge so feel free to get it from either the App Store, Google Play, or install Trust Wallet APK.
Trust Wallet Pros and Cons
When we are finished with Trust Wallet’s brief review, we can outline this wallet's main dos and don'ts.
- It supports over 4.5 million cryptocurrencies in more than 65 blockchains.
- It is easy to buy and stake cryptocurrency directly in the wallet.
- Simple and easy-to-use interface
- Downloading is completely free.
- It supports ERC-20, enabling interaction with Ethereum dApps.
- No desktop support
- There is no two-factor authentication and the only level of protection is your password
We know you are asking, so which is better MetaMask or Trust Wallet? Let’s go through the last point — MetaMask vs Trust Wallet fees.
Trust Wallet vs MetaMask Fees
In general, crypto wallets don’t charge any significant fees. Neither Trust Wallet nor MetaMask charges any fees for using the wallet. However, you have to pay MetaMask and Trust Wallet gas fees for interacting with the blockchain, and the number of such fees will entirely depend on your chosen network. From blockchain to blockchain, fees vary greatly, so DYOR and check the prices.
However, here comes another benefit of the MetaMask wallet. It is the supported EIP-1559 protocol, which allows you to reduce gas prices by choosing a priority for the transaction. Now we’re done and ready to disclose the verdict. So, which wallet, Trust Wallet or MetaMask, is worthy of being your indispensable and most reliable assistant?
As we can see, Trust Wallet and MetaMask go almost toe to toe. Each wallet has its own benefits, and both wallets are easy and free to use. However, MetaMask is hands down a better choice for most people due to its versatility. It's available anytime, anywhere, from any device, and perfectly safe.
In combination with one of the best non-custodial exchanges like bitoftrade, MetaMask will help grasp all the benefits of trading for everyone, from novice to seasoned traders. Once you connect MetaMask to bitoftrade you'll get all the CEX benefits with no KYC process. In addition, our platform offers a wide range of trading tools, including stop limit, take profit orders, leverage trading, and various technical indicators that will be available shortly to ensure you're armed with the best trading tools and opportunities.
Connect your MetaMask/Trust wallet to bitoftrade and get the best trading experience now!