There is no doubt that DeFi (decentralized finance) wallets are an essential component of accomplishing an intuitive, secure, and readily available DeFi ecosystem.
Decentralized crypto wallets are becoming increasingly popular, and users can choose from various options, and MetaMask vs Trust Wallets are two of the current favorites in this space.
When you’re just getting started with cryptocurrencies, you have to store your coins.
While there are plenty of options, some will suit you better than others, depending on your needs and preferences.
Hence metamask vs Trust wallets serve the same function for most blockchain-based tokens, and they differ in several ways.
This is an important distinction because it affects the types of cryptocurrencies or tokens you can store on either crypto wallet.
Here is a comparison of most key features to consider on MetaMask and Trust Wallet to help you decide which one is best for you.
You need to know everything about Metamask vs Trust wallets: what they are, how they work, and why you should use one over the other.
Metamask is a web-based Ethereum browser extension. You can interact with dApps and execute smart contracts within your regular browser. Metamask also supports Ether, ERC20 tokens, and other Ethereum-based coins.
MetaMask is a free extension that enables Ethereum applications to be accessed via browsers such as Google Chrome and Mozilla Firefox.
Since launching in early 2017, MetaMask has grown considerably in popularity and has proven itself worthy of its reputation as one of the most user-friendly wallets.
It can be used by people with no experience with Ethereum or cryptocurrencies. This is because Metamask doesn’t require users to download their blockchain, which would take an extremely long time to sync.
Instead, it runs on top of existing networks (like Ethereum) through dapps (decentralized apps). The interface is simple enough to understand even if you don’t know much about cryptocurrency yet.
It offers a variety of features, including private key management, transaction signing, and sending transactions.
To send transactions using Metamask, you must first add payment data (such as an address) by clicking + Add Data under ETH Addresses in your settings tab.
You will then be able to choose whether you want to send ETH or ERC20 tokens when making payments using Metamask by selecting ETH or Tokens from the dropdown menu next to the Send button at the bottom right corner of the screen viewing the account balance.
This article discusses the comparison of Metamask vs Trust wallets as well as their pros and cons.
Metamask helps you interact with decentralized applications that run on the Ethereum network. It’s easy to use and doesn’t cost anything. It will store your private keys and passwords securely so no one else can access them.
This way, whenever you sign in to an application or web page, Metamask will make sure it’s legitimate before letting it do anything else with your funds.
These transactions are stored on a blockchain and forever recorded publicly, meaning there’s no way for someone to steal your funds without knowing your private key or password.
Metamask isn’t a beginner-friendly product, and it comes with a learning curve that can be frustrating and intimidating to new users, meaning it’s ideal for blockchain professionals. It’s resource-intensive and doesn’t run smoothly on smartphones.
Finally, Chrome support has been dropping steadily over time—some of your favorite websites won’t work correctly.
Trust Wallet Overview
If you’re an Ethereum user, there’s a good chance that, at some point, you’ve come across Trust Wallet. It’s easy to see why so many people think it looks familiar, and it was ma at some point by wallet giant Ethereum.
With more than 3 million downloads and counting, its security features are among some of the best in the blockchain space.
The company also recently partnered with Binance to directly offer a secure mobile crypto trading experience through your browser. There’s a lot to love about Trust Wallet, but let’s dive into what makes it so great.
Trust Wallet Pros
It’s simple and fast, meaning you can get from creating an account to sending/receiving tokens in minutes.
The app also has an easy-to-use interface (compatible with both Android and iOS devices) that makes it perfect for beginners or non-technical users.
Trust Wallet allows almost universal use, supporting the most significant coins and Ethereum-based ERC20 tokens.
Additionally, transactions are anonymous and secure, which no other wallet provider can claim right now.
Finally, because it’s so quick and easy to use, Trust Wallet makes cryptocurrency investments accessible to everyone – even those who aren’t tech-savvy enough to use some of its more complicated competitors.
Trust Wallet Cons
On top of a lengthy signup process, there are several other minor downsides to using Trust Wallet. To transfer cryptocurrency out of your wallet, you need a Google account, which is somewhat inconvenient.
The company has also not established itself as a widely trusted company in crypto circles (yet).
Additionally, if you’re looking to invest in a wider variety of altcoins than most wallets offer on their platforms, you may want to look elsewhere; however, if your primary focus is Ethereum and ERC20 tokens, that’s probably not an issue.
Finally, many crypto users have complained about how difficult it is to contact support directly when issues arise.
Now that you know the pros and cons of Metamask vs Trust wallets, let’s check through the comparison in the following features.
1. Desktop Wallet
If your crypto holdings are large enough that it makes sense to have most of them on a hardware device or desktop, then opt for a desktop wallet.
The most significant benefit of these wallets is that they help protect against hacking and phishing scams.
Desktop wallets generate your public and private keys on your local machine, away from prying eyes.
If hackers do compromise a desktop wallet—which frequently happens if you don’t have an up-to-date antivirus installed—then they still won’t be able to steal your funds.
However, if you lose your computer or accidentally delete your wallet files, then all of your cryptocurrency will be gone forever. That’s why it’s essential to make regular backups of any desktop wallets.
2. Beginners Friendly
These wallets are highly secure and beginner-friendly, but a few differences set them apart. For example, the Trust wallet will hold your private keys, which means you can use it even if there is no internet connection, but it also means that the Trust wallet has access to your funds.
Meanwhile, Metamask acts more like a middleman between you and the blockchain, so its encryption is more substantial than Trust wallet.
Another critical difference is what platforms they support—Metamask supports every web browser while Trust wallet only works on Firefox.
In short, both wallets are excellent choices depending on your preferences. To choose one over another, consider how vital security is to you and whether or not you plan to use multiple devices with different browsers in addition to desktop computers.
3. Chrome Extension
Creating a new wallet with Trust Wallet only takes a few seconds. The wallet provides easy access to exchanges, dapps, and other services directly from your browser.
The interface takes some getting used to, but it’s great if you are already familiar with Ethereum since all its features work like Ethereum’s main chain.
While trust wallet’s Chrome Extension is user-friendly, Metamask may seem harder to use because users have less control over gas prices and fees than Ethereum browsers like Mist or Parity. However, Metamask’s most attractive feature works across multiple browsers.
Both wallets are free and open source. However, youYou should note that Metamask has received funding from ConsenSys, while Trust Wallet is self-funded by Binance Labs.
While both wallets support ethers (ETH), only MetaMask supports ERC20 tokens; you need to download an ERC20 Tokens Manager for the Trust wallet to interact with tokens.
4. Multi-Currency Extension
If you own Bitcoin, Ethereum, or another primary cryptocurrency, your wallet probably supports multi-currency. This feature allows you to hold different types of cryptocurrency in one place.
Most wallets even offer a currency exchange that lets you convert one digital asset into another seamlessly and instantly.
However, using third-party exchanges is risky because those platforms aren’t governed by standards or regulations and can easily steal your money.
The simplest way to avoid these pitfalls is to use a multi-currency wallet. Instead of choosing between different digital assets, buy them all at once from a single source.
Among other benefits, doing so protects your investments from sudden price drops and fraud when using untrustworthy third parties. Another bonus of multipurpose wallets like Metamask and Trust Wallet is accessibility.
Many crypto storage apps require users to complete complicated processes before accessing their funds.
Metamask and Trust Wallet make it easy to do everything from opening an account to sending and receiving payments. You don’t need any tech-savvy; your only prerequisite is an internet connection.
5. Trust and security
Metamask comes with a chrome extension that generates your wallet, but it’s not open source and has security issues.
Metamask was hacked in April 2018, and more than 20,000 users lost their ETH. Trust wallet has higher-level security and trustworthiness as it has never been hacked.
The developers of Trust Wallet say they want to become a go-to cryptocurrency wallet that offers additional services in-app.
They are working on expanding their offerings and creating more accessible ways to trade cryptocurrency.
Overall, both options have pros and cons, but I feel more comfortable using Trust wallet because of its more significant security level than Metamask. It’s just my opinion. You can use any one of them according to your choice.
6. Ease Of Use
The first factor is obviously how easy it is to use. It should be user-friendly and intuitive enough to use without going through many complex steps, regardless of whether or not you’re tech-savvy.
With Metamask, your choice would be clear; there are no complicated features to understand and operate with, meaning anyone will be able to use it without a problem.
Trust wallet being simple and intuitive, it comes down to services offered by each app and which one gets security features.
So now, let’s look at these two wallets more closely to figure out which one is better for us. Since both apps have similar design concepts and interfaces, ease of use remains almost identical.
However, we see the difference in the feature called the dApp browser on the Trust wallet app because it lets you access DApps that currently lack mobile support.
This way, any DApp available on a PC browser could also be used from mobile phones, increasing its functionality from traditional digital currency storage to a complete digital ecosystem.
On the contrary, if we were to choose between metamask and trust wallet based on dApp compatibility.
Metamask would be favored due to the integrated support for several major platforms such as Brave browser and Status Messenger, making Ethereum tokens even more flexible.
There are many cryptocurrency wallets on offer, but it’s worth spending some time to pick one that fits your needs.
Both Metamask vs Trust wallets are free downloads, and their features are pretty similar. However, they have subtle differences, and both offer different features.
If security is important to you, consider which third-party extensions you want in your wallet (most of them require an upgrade) and potential fees before deciding.
Remember that it’s not about picking a winner but picking what works best for your situation—and use an appropriate amount of caution when looking at wallets online.