Trust Wallet vs. MetaMask: Comparison of the Crypto Wallets

Choosing a wallet that suits your needs the best takes some planning. Trust Wallet and MetaMask are two popular crypto wallets, each with its own set of features and benefits. If you're trying to decide between these two wallets, it's important to understand their differences and analyze their strengths and weaknesses. In this guide, we'll compare Trust Wallet and MetaMask across various criteria, including security, user experience, supported assets, fees, and more. By the end, you'll have a clear understanding of which is the best crypto wallet for your Web3 needs.

What is the Trust Wallet?

Trust Wallet is a versatile crypto wallet that enables users to easily trade, store, buy, sell, send, receive, and stake various cryptocurrencies. It also functions as a secure NFT wallet, allowing trust wallet users to store, buy, and sell NFTs directly from their mobile devices and desktops.

As a non-custodial wallet, Trust Wallet grants users full control over their private keys, ensuring that they are solely responsible for the security of their assets. Users can transact seamlessly without the need for Know Your Customer (KYC) compliance or any third-party involvement.

Founded by Viktor Radchenko in November 2017, Trust Wallet was later acquired by Binance in July 2018 and has since become the official decentralized wallet of the Binance crypto exchange.

Trust Wallet is widely known for its user-friendly interface, strong security measures, and ease of use. With its built-in DApp browser, the wallet acts as a bridge, providing access to popular decentralized platforms like PancakeSwap and SushiSwap.

One unique feature of Trust Wallet is its ability to connect to centralized exchange accounts and transfer crypto assets. This integration establishes a seamless communication channel between a user's Trust Wallet account and their accounts on supported centralized exchanges, such as Binance and Coinbase. This feature enables users to conveniently manage their digital assets across multiple platforms.

What is MetaMask?

MetaMask is another non-custodial wallet that allows users to store, buy, trade, send, and receive cryptocurrencies. Unlike Trust Wallet, which supports a wide range of assets on multiple blockchains, MetaMask focuses exclusively on tokens and cryptocurrencies built on the Ethereum blockchain.

MetaMask provides a versatile solution for users to connect with blockchain applications and explore the decentralized web securely. It is available as both a mobile app and a browser extension on popular browsers like Google Chrome, Firefox, Opera, and Brave. The non-custodial wallet gives users sole custody of their private keys.

With MetaMask, users can easily interact with various blockchains, including Binance Smart Chain and Ethereum, directly from their desktop browsers. The web browser extension is specifically designed to enable connectivity with a wide range of decentralized applications (DApps), such as decentralized finance (DeFi) platforms and non-fungible token (NFT) marketplaces, offering an unparalleled user experience.

MetaMask, founded by Aaron Davis in 2016, has attracted over 10 million active users since its inception. The wallet provides excellent support for a diverse range of ERC-20 tokens.

One of MetaMask's key strengths is its multi-account and multi-network management feature. Users can easily switch between different Ethereum-based networks and manage their assets on various platforms.

What are the Key Differences between Trust Wallet and MetaMask?

While Trust Wallet and MetaMask offer similar functionalities, there are notable differences between the two. Let's take a look at the differences:

User Interface and User Experience:

Trust Wallet initially launched as a mobile wallet and later released a browser extension in November 2022. The Trust Wallet browser extension provides a more seamless web3 experience, as DApps are typically designed for computer-sized screens. This extension allows users to transition smoothly between mobile device and desktop environments while using Trust Wallet.

Trust Wallet's mobile app offers a user-friendly interface that enables users of all experience levels to easily manage their crypto assets on the go. It includes features such as buying crypto, native staking, swapping, storing, trading NFTs, and more.

On the other hand, MetaMask browser extension was launched and expanded to include a mobile platform in September 2020. The MetaMask mobile wallet allows users to interact with blockchain-based applications without compromising security or usability. The app provides users with a key vault, secure login, token wallet, and access to various functionalities such as viewing and trading digital assets, managing crypto loans and balances, playing blockchain-based games, signing messages, sending transactions, and storing NFTs.

In terms of simplicity and user experience, Trust Wallet is slightly more beginner-friendly than MetaMask. Trust Wallet's integration with the Binance smart chain also makes it an excellent choice for crypto newcomers looking to buy and store coins and tokens easily.

NFT integration:

MetaMask is a highly popular wallet known for its browser extension that provides convenient access to NFT marketplaces with a few clicks. It also allows users to set up multiple addresses, enabling them to keep NFTs separate from their cryptocurrencies or have a dedicated address for each purchased NFT. In 2020, they launched a mobile application that seamlessly syncs holdings across the desktop and mobile versions. The mobile app features a built-in browser for decentralized applications (dApps) and NFT marketplaces.

MetaMask's built-in swap feature enables currency conversion for NFT purchases and offers the flexibility to set gas fee limits, although there is a risk of transaction failure. Additionally, MetaMask supports alternative blockchain platforms for users requiring different networks.

Trust Wallet supports multiple blockchains, including Ethereum. While it has a leaning towards Binance Smart Chain tokens due to its association with Binance, it becomes an ideal choice for those interested in NFTs on the Binance Smart Chain.

Similar to other wallets, Trust Wallet incorporates a dApp browser for easy access to NFT marketplaces. It also includes a built-in exchange feature, simplifying token swaps to ensure users have the necessary currencies for purchasing desired NFTs.

Both MetaMask and Trust Wallet offer valuable features for NFT enthusiasts, but MetaMask's browser extension and multi-platform compatibility make it a preferred choice for desktop users, while Trust Wallet's mobile-focused approach and Binance Smart Chain support cater well to mobile users and those interested in the Binance ecosystem.

Which Security Features do Trust and Metamask Wallet use?

In terms of security, both MetaMask and Trust Wallet utilize open-source software. Neither wallet offers two-factor authentication or multi-signature support.

However, both wallets prioritize user privacy and do not store personal information. Accounts on both wallets are protected by a user-generated password or biometric data on mobile devices during installation and setup.

To enhance security, both wallets allow users to enable Touch ID or Face ID for their mobile apps. Additionally, users can set an auto-lock time to prevent unauthorized access to their wallets.

Overall, both Trust Wallet and MetaMask provide similar security features, ensuring users have significant control over the security of their digital assets.

It's important to note that both wallets are hot wallets, meaning they require an internet connection to function. While this makes them convenient to use, it also exposes them to potential phishing scams.

In terms of malicious attacks, Trust Wallet was subject to a social engineering attack in January 2023, where an organized crime gang in Italy reportedly drained $4 million from the wallet. MetaMask has experienced fewer hacks resulting in the theft of user funds.

Which Coins and Tokens do Metamask and Trust Wallet support?

While both Trust Wallet and MetaMask support a variety of cryptocurrencies on the Ethereum network, Trust Wallet boasts a broader range of supported assets. Trust Wallet can accommodate all ERC20 tokens and thousands of other assets across 70 blockchains. In contrast, MetaMask primarily supports Ethereum-based tokens but allows users to store other assets like Bitcoin using wrapped derivatives like WBTC.

Furthermore, Trust Wallet includes a built-in exchange feature, whereas MetaMask requires users to connect to a decentralized exchange (DeX) to swap tokens. This seamless experience might be more suitable for experienced crypto traders but could present a challenge for beginners.

In terms of supported cryptocurrencies, Trust Wallet's multi-blockchain support and asset management capabilities outshine MetaMask's offerings.

How Much Do Metamask and Trust Cost to Use?

MetaMask is free to use, but users are responsible for paying transaction costs, primarily in the form of gas fees. Users can expect to encounter processing fees, base fees, and gas limit fees when purchasing cryptocurrencies. Additionally, any swaps conducted on MetaMask incur a service fee of 0.875%.

Similarly, Trust Wallet is also free to use and does not impose any subscription fees. The app does not charge additional fees for swapping cryptocurrencies on its in-app DEX or for using the DApp browser to interact with decentralized applications, apart from the regular blockchain transaction fees.

However, when purchasing cryptocurrencies through third-party exchanges within the Trust Wallet app, a 1% fee is levied on top of the fees charged by the exchanges. Users can avoid this fee by holding a minimum of 100 Trust Wallet native $TWT tokens, which are available in TWT BEP2, BEP20, or SPL formats.

Both MetaMask and Trust Wallet allow users to adjust and customize their gas fees. The idea behind this feature is that miners are more likely to prioritize transactions with higher fees, incentivizing faster transaction processing.

Private Keys and Backups Comparison:

Both MetaMask and Trust Wallet are non-custodial wallets, meaning the user holds their private keys, and the keys are not stored on a company server. When using MetaMask or Trust Wallet, it is the user's responsibility to keep their password and private key secure.

One significant advantage of these hot wallets is the anonymity they provide. Since there is no KYC process, users can remain anonymous. To ensure wallet security, it is crucial to manually write down the recovery phrase or private key and keep it in a safe place.

When creating a multi-coin wallet, a recovery phrase is generated, and it's essential to back it up immediately. This ensures that users can recover their wallet and access their funds if something happens to their device. Additionally, both wallets allow users to export their private keys, offering more control and a backup option.

MetaMask vs Trust wallet - What are the Pros and Cons

Lets compare the pros and cons of MetaMask and Trust Wallet features so you can decide which one better suits you:

Trust Wallet Pros:

• Intuitive user interface, especially for beginners
• Seamless integration with the Binance exchange
• Multi-chain support for various assets
• Built-in exchange feature
• Wide range of supported cryptocurrencies
• Buy option with multiple on-ramp providers like MoonPay, Ramp, Transak, Simplex & Binance Connect.
• Trust Wallet offers Swap through 1Inch but only the mobile wallet supports it.

Trust Wallet Cons:

• Vulnerability to phishing attacks due to hot wallet nature
• Experienced traders might find the interface too simple
• No swap or bridge functionality inside the wallet
• Only Ethereum based NFTs are shown.

MetaMask Pros:

• Access to a wide range of decentralized applications
• In-wallet swap & bridge functionality with 0.875% fee on swaps;
• Versatility in connecting to different Ethereum-based networks
• Excellent support for ERC20 tokens
• Customizable gas fees
• Secure and widely used
• Buy option with multiple on-ramp providers like Transak, Banxa, MoonPay, Mercuryo.

MetaMask Cons:

• Limited support for assets and NFTs outside of Ethereum-based tokens
• Requires connecting to a decentralized exchange for token swaps

Trust Wallet vs. MetaMask verdict - Which One better suits you?

Choosing between Trust Wallet and MetaMask depends on the user's goals and plans. There are some key differences between the two cryptocurrency wallets. If the user intends to interact with the DeFi ecosystem, trade NFTs, or hold Bitcoin, each plan might require different features and potentially a different mobile based wallet.

For novice users seeking a user-friendly wallet, Trust Wallet might be a better choice due to its simplicity and seamless integration with the Binance exchange. On the other hand, if superior DApp integration is a priority or you want to use it for NFTs, MetaMask is the preferred option.

Ultimately, users should evaluate their specific needs, such as the desired features, supported assets, user experience, and security, to determine which wallet aligns best with their requirements.

Frequently Asked Questions:

Q: Can Trust Wallet and MetaMask be used simultaneously?

A: Yes, both Trust Wallet and MetaMask can be used simultaneously. Users can choose to have different wallets for different purposes or experiment with both wallets to determine which one suits their needs better.

Q: Can I use Trust Wallet or MetaMask on multiple devices?

A: Yes, Trust Wallet and MetaMask can be used on multiple devices. The wallets provide options to sync accounts across devices, allowing users to access their wallets and manage their assets seamlessly.

Q: Can I use Trust Wallet or MetaMask to store all types of cryptocurrencies?

A: Trust Wallet lets you manage multiple cryptocurrencies across various blockchains, while MetaMask primarily supports Ethereum-based tokens. Trust Wallet's multi-chain support makes it more versatile for storing different types of cryptocurrencies.

Q: Are Trust Wallet and MetaMask safe to use?

A: Both Trust Wallet and MetaMask prioritize user security and offer similar security features. However, as hot wallets that require an internet connection, they are susceptible to phishing attacks. It's crucial to follow best security practices, such as keeping private keys and recovery phrases secure and being cautious of potential scams.

Q: Can I recover my Trust Wallet or MetaMask if I lose my device?

A: Yes, both Trust Wallet and MetaMask allow users to recover their wallets if they lose their devices. By storing the recovery phrase or private key in a safe place, users can restore their wallets and regain access to their funds.

Please note that the cryptocurrency landscape is continuously evolving, and it's always a good idea to research the latest updates and developments related to Trust Wallet and MetaMask before making a decision. Make sure to take a look at hardware wallets for their features and security measures. We will update this guide as new updates arrive so be sure to check back every once in a while.