Trust Wallet vs MetaMask | Crypto Wallet Comparison
People used to keep their money in wallets, but the introduction of cryptocurrency and other digital assets led to the introduction of crypto wallets. Fun fact is, crypto wallets technically do not store the crypto but the holdings on the blockchain and can only be accessed using private keys. This Trust Wallet vs MetaMask review outlines what one needs to know regarding the two crypto wallets.
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If you lose the private key, then you won’t access or prove the ownership of your money. There are many available wallets in the market right now, and Trust Wallet and MetaMask are among them. They come in the form of mobile applications, which enable one to use crypto to do online shopping using a credit card. Other forms of wallets are the hardware wallets, which look like ledgers.
Trust Wallet vs MetaMask – Introduction
Both Trust Wallet and MetaMask are online wallets, and their keys are stored in other software or an application. For more safety, they have a two-step encryption verification process. This is good, as it makes the sending and receiving of crypto so easy, just like using an account on an online bank or payment system. These wallets are mainly a preserve of people in the digital currency world.
When using these wallets, one can do a couple of things. For instance, the holder controls their private keys. The digital assets can be managed from one secure place. It does not matter where you are in the world. You can send and receive cryptocurrency. In this review, we cover various aspects of Trust Wallet vs MetaMask.
About Trust Wallet
Decentralized applications (Dapps) is a collective term for a leading software development company for distributed open-source apps which run on a P2P blockchain network. The Trust Wallet is one of its many application innovations. Trust Wallet was mainly created to allow the users to receive, send, accumulate, and non-fungible stake tokens (NFTs).
They can also do the same o over one million crypto assets on their phones, making it convenient. It is simple to use, but if the account is compromised, one can experience some issues. Since the Trust Wallet is built on decentralized technology, the customer service does not provide support to technical issues; thus, users cannot be helped to recover secret pins or phrases to reclaim access to their assets if lost.
Trust Wallet is available on both android and IOS applications. As a user, you can earn some rewards or stakes. It supports Bitcoin and Ethereum, the most globally traded cryptocurrencies in the current crypto market. The wallet does not have any transaction fees for the users.
However, they are to pay for the network fees, and when they are purchasing cryptocurrency, they need to pay some variable fees. It is a non-custodial software-based hot wallet and provides a self-help center and a ticket system for email support. Trust Wallet is pseudonymous. But more you will find in this Trust Wallet vs MetaMask review.
About MetaMask
Developed by ConsenSys, MetaMask initially joined the market in 2016 as a cryptocurrency wallet that enabled users to interact with the Ethereum blockchain. Users are allowed access to their Ethereum assets through a website or mobile app, which interacts with other decentralized apps.
If you are using MetaMask, the generation of keys and passwords onto your devices is easy and secure as you are the only one with access to your data and accounts. Moreover, MetaMask provides users with the option of choosing what to keep private or share out. Besides, the wallet provides a secure and simpler way to connect to blockchain-based apps. That is what we can say in this Trust Wallet vs MetaMask comparison.
The user is always in control when using the decentralized web. The wallet provides users with secured logins, the token wallet, an exchange, key vault, all of which are necessary for managing the digital assets. It does not support Bitcoin trading, but one can trade Ethereum. MetaMask has over 450,000 cryptocurrencies across the BNB chain, Avalanche, and Ethereum blockchains. Users can also earn rewards and stakes, and it’s a non-custodial software wallet.
Trust Wallet vs MetaMask – Features
Regarding MetaMask vs Trust Wallet features, both wallets boast unique features that are great for their users. For example, the MetaMask wallet has features that allow users to send and receive tokens anonymously in a secured setting. Besides, creating a new wallet does not require one to provide a personal identifier in MetaMask.
The main feature of the Trust Wallet is its versatility across the blockchains, and users can earn interest on their crypto by staking from the wallet directly. New users can also transfer their wallets to Trust Wallet easily. In addition, both of the wallets support one of the best-known cryptocurrencies—Ethereum.
MetaMask vs Trust Wallet: Pricing
In MetaMask wallets, the users pay gas fees to the blockchain that enables them to do transactions. In addition, they charge a service fee of around 0.3% – 0.88% for any swap that takes place. When buying crypto, there is a processing fee, the market rate for gas, and the MetaMask fee.
Trust Wallet users also pay gas fees when transacting to another wallet. In addition, they also pay fees when purchasing crypto from one of the providers and additional fees on purchases made in the app. However, there is a waiver for those who have TWT tokens. For example, buying with a credit card, mercury is at 3.95%, Moonpay is 4.5%, Ramp network is at 2.9%, and Simplex is at a 3.5% fee.
Trust Wallet vs MetaMask – Pros and Cons
This review would not be complete without mentioning Trust Wallet vs MetaMask advantages. As an investor, you are spoilt for choice regarding cryptocurrencies, as the Trust Wallet supports many options. Setting up a Trust Wallet is convenient; one can use it on their phones and even MAC computers. Buying and staking cryptocurrency is done directly from the wallet, making it easy.
Just as it has pros, Trust Wallet has some cons that you might want to know. For instance, there is limited usage of web-based decentralized apps, and it’s difficult to recover lost accounts through their customer support, which is self-service. Lastly, it is susceptible to phishing attacks and social engineering.
MetaMask cannot be left behind because it has its share of advantages. The process of downloading and setting it up across devices is easy. Furthermore, you can create multiple wallets from one application. Besides, the process of signing up does not require one to use any personally identifiable information, and it supports multiple blockchain, NFTs, and ERC-20 tokens.
All the same, some of the cons of using MetaMask include limited to no technical support, and there is no option for password resets. Perhaps one of the biggest cons is that it does not support Bitcoin crypto at all.
Conclusion
Other than MetaMask not supporting Bitcoin cryptocurrency, it is quite a good wallet choice. It is simple and available across many devices. In addition, it provides a swift integration with NFT websites and exchanges. For advanced users, this might be the best wallet as it allows them to maximize gas fees, which helps reduce the cost of working on blockchain.
Trust Wallet, however, is good as it supports so many cryptocurrencies. However, the lack of customer support can be an issue for the new users. Besides, advanced users might not like the fact that the wallet has a limit on connecting with DApps to NFTs or exchanging crypto assets. We hope that you can decide now between Trust Wallet vs MetaMask.
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