Metamask vs Trust Wallet: Which is Safer?

DeFi (decentralized finance) wallets are undeniably important to the development of a user-friendly, trustworthy, and widely available DeFi ecosystem. The popularity of decentralized cryptocurrency wallets is on the rise, and users can pick the most suitable storage solution from several different services. MetaMask and Trust Wallet are some of the most popular options currently available.

Trust Wallet and MetaMask are two examples of digital wallets that provide you with versatile services through one digital solution. Namely, they allow you to securely store, transfer, receive, trade, and buy cryptocurrency. In the bargain, both of these platforms are suitable for inexperienced traders because of their simplicity and user-friendliness.

But, even though MetaMask and Trust Wallet serve the same purpose for the overwhelming bulk of blockchain-based currencies, they are distinct in several important respects. Understanding how they are alike and how they are different can help you decide which one is best for your needs. 

Let’s begin with our Metamask vs Trust Wallet review!

The MetaMask Wallet

If you’ve never used an Ethereum wallet before and or aren’t familiar with cryptocurrencies, you may find MetaMaskhelpful, as it’s a pretty simple Ethereum wallet. It also works quite well with alternative blockchain browsers, such as Chrome or Brave.

The wallet can hold any Ethereum token since it is compatible with that blockchain’s ERC17 and ERC20 standards. It also features an integrated token swap function that allows instant token swaps.

With MetaMask’s intuitive UI, you’ll have no trouble keeping track of your assets or processing transactions quickly and effortlessly.

Moreover, the MetaMask wallet is versatile in that it can be used on desktop and mobile platforms. MetaMask also has top-tier security protections, so your funds will be protected even if you lose access to your computer.

The Trust Wallet

If you’re looking for a safe and user-friendly way to store ETH and other ERC17/ERC20 tokens, go no further than Trust Wallet, a mobile wallet that does just that. 

Also, getting your hands on a Trust Wallet is a breeze. Signing up for and beginning to use Trust Wallet is quick and straightforward. Its open-source nature also means that its developers typically resolve problems rapidly.

Although Trust Wallet is a hot wallet (i.e., it is only accessible through mobile devices and isn’t recommended for storing vast quantities of crypto for a lengthy period), it does provide several security and convenience-enhancing tools for safe and hassle-free use of crypto.

Metamask vs Trust Wallet: Main Features

It’s simple to keep track of all your Ethereum holdings with the help of the MetaMask dashboard. It also enables communication with Ethereum-based websites. You can quickly check your balances, switch accounts, and initiate transfers from the homepage.

In fact, the dashboard is where you’ll start in MetaMask. Here you can check the current value of any tokens or other assets stored in your Ethereum wallet and the total amount of Ethereum. 

Intriguingly, this wallet has token-generation templates that can be tailored to the individual’s wallet specifications. The user can start with one of the premade token templates or design their own. After generating a token, the user can share it with others or keep it safe in their digital wallet.

Last but not least, MetaMask enables clients to use dApps without installing third-party software like Mist or Geth, all within the browser. To use any Ethereum-powered decentralized application (dApp), all you need is their browser extension—no need to run a full node or sync the database.

When it comes to Trust Wallet, this digital solution helps you safely house your virtual currencies or exchange them with other wallet users. It works with dozens of different cryptocurrencies. You can use this wallet to send money to friends and family or make a purchase on apps like Facebook, WhatsApp, Twitter, and Telegram.

Trust Wallet’s dashboard displays up-to-the-minute pricing data for all digital asset holdings. Current prices are displayed in U.S. dollars and other currencies, allowing you to monitor the performance of your assets in relation to the dollar at all times.

On the other hand, your investments’ market prices are shown over time, allowing you to choose between many technical indicators to dig deeper into the data.

At the bottom of this page is a wallet where you can add and delete assets with a tap. This makes it simple to keep tabs on your cryptocurrency holdings so you can evaluate their price and determine whether to add to or liquidate your portfolio.

Security

When it comes to cryptocurrency wallets, MetaMask is one of the safest options. The wallet’s multiple layers of protection—including passwords, two-factor authentication protocol (2FA), and more—help to keep your digital assets safe from hackers. 

In addition, you can save your private keys as an export file from MetaMask to have a backup copy on hand.

Keeping your crypto in Trust Wallet also provides you with a safe and secure environment. The software was developed with safety in mind and had multiple safeguards (such as locally kept private keys) to secure your investments. 

However, always keep in mind that Trust Wallet is a hot wallet, making it vulnerable to phishing attempts. This is why you should always be wary when accessing your digital wallet online and double-check that you are at the right Internet address.

Finally, keep your seed phrase a secret and put it away somewhere secure. If you lose your seed phrase, you could be locked out of your wallet profile and unable to access your funds.

User-Friendliness

The user interfaces of both MetaMask and Trust Wallet are created with newcomers in mind. For example, the MetaMask wallet setup process only requires a few simple actions from the user. Minutes are all it takes to get started after downloading and installing the browser add-on.

In a similar fashion, the mobile app for Trust Wallet is available for both iOS and Android smartphones and makes using the service much easier.

Supported Cryptocurrencies

The two most popular Ethereum cryptocurrency wallets, Trust Wallet and MetaMask, both accommodate a wide range of tokens. In this regard, Trust Wallet is head and shoulders above the competition because it supports not just every ERC20 token but also hundreds of additional assets on 33 other blockchains.

Supported Blockchains and Integrations

MetaMask’s seamless integration with Portis, Fortmatic, and Torus, three of the most widely used platforms for dApps, means that users can use familiar sign-in protocols to log in to these services. App creators who want to attract new customers and improve the onboarding process for existing ones would do well to consider these integrations.

In addition to facilitating Ethereum, ERC17, and ERC20 token transfers in the browser, MetaMask also offers customers streamlined interaction with the Ethereum Name Service (ENS).

If you’ve ever logged in to a website or app using your PayPal account, you know how simple it is to merely click the “PayPal” button, and PayPal will handle the entire process for you.

This is exactly what ENS provides for Ethereum-based apps and websites. It removes the need for users to memorize lengthy and complicated wallet addresses in favor of a more convenient and memorable username.

Back to Trust Wallet. By connecting to the Kyber Network, users of Trust Wallet can now trade tokens within the app without ever having to leave the service. With this latest addition, Trust Wallet is closer than ever before to become your one-stop shop for all your cryptocurrency requirements.

Along with this, Trust Wallet has teamed up with StableUSD (USDS) to provide its customers with a solution to send money worldwide without incurring hefty fees or dealing with the volatility of exchange rates typically associated with such transactions. Access the new features by logging into your Trust Wallet account from any supporting device.

Metamask vs Trust Wallet Fees

MetaMask has no extra charge for holding your crypto funds compared to the other wallets, while the transaction costs are limited to the gas fee imposed by the Ethereum blockchain.

Trust Wallet is another fee-free digital wallet option. You won’t even have to pay a dime to use the services of this wallet, either.

Conclusion

MetaMask and Trust Wallet are currently regarded as two of the most popular choices when it comes to decentralized cryptocurrency wallets, and this trend is expected to continue.

Maybe Trust Wallet hasn’t been around as long as MetaMask, but it’s still gaining popularity just as quickly among crypto investors who would rather use a non-custodial wallet that’s compatible with a wider variety of blockchains.

While both wallets are simple to operate, Trust Wallet may be a better option due to its support for additional cryptocurrencies and connectivity with external trading platforms.