Acquaintance with cryptocurrencies for many users begins with registration on a cryptocurrency exchange. Perhaps this is the safest and most convenient solution. In addition to the fact that you can quickly exchange XMR to BTC on a large trading platform, you do not need to look for a way to store coins.
However, when you have already accumulated a significant amount of cryptocurrency for you, it makes sense to start an offline storage. No exchange guarantees 100% protection against hacking and theft of funds. When choosing a crypto wallet, you want to find the best of the best for yourself.
Many users prefer the so-called hot storages, special software for mobile and desktop devices with the ability to connect to the Internet. Such a solution is definitely more reliable than exchange storage and convenient enough for everyday operations with digital assets. Most often, Trust Wallet and MetaMask appear in the lists of the best hot crypto wallets.
Trust Wallet
Trust Wallet was created by Viktor Radchenko in November 2017. In July 2018, it was acquired by the Binance cryptocurrency exchange, and since then it has been considered the official decentralized wallet of the largest crypto exchange in the world. Trust Wallet users have full control over their private keys and can easily transact without having to go through KYC or involve third parties.
Trust Wallet is a convenient crypto wallet that provides convenient access to trade, store, buy, sell, send and receive various digital assets. For some assets, the staking function is available and the user can receive additional income.
It supports non-fungible tokens (NFTs) and allows you to store, buy and sell them directly from mobile devices and computers. The vault has a built-in DApp browser that provides access to popular decentralized exchanges (DEXs) such as PancakeSwap and SushiSwap. You can also connect accounts of centralized crypto exchanges to the wallet.
MetaMask
MetaMask is a non-custodial wallet that allows you to store, buy, exchange, send and receive cryptocurrencies. Since its inception in 2016 by Aaron Davis, MetaMask has attracted over 10 million active users.
Unlike Trust Wallet, MetaMask only supports tokens issued on Ethereum and compatible blockchains. The wallet is available as a mobile app and browser extension for Google Chrome, Firefox, Opera and Brave, offering flexible solutions for secure interaction with decentralized applications.
One of the key benefits of MetaMask is the ability to switch between multiple accounts and networks. The crypto wallet also allows you to set gas fees, giving you full control over your transaction costs. All these features together create a powerful and flexible digital asset management tool.
Compare Trust Wallet and MetaMask
Both hot storages are similar in many ways, but there are some differences between them. Let’s dwell on them in more detail.
User interface
Trust Wallet was created and until the fall of 2022 functioned exclusively as a mobile application. A little over six months ago, a browser extension became available. Its interface is intuitive, easier to manage and more suitable for a novice user.
MetaMask started out as a browser extension, with a mobile version launched in 2020. The storage interface is objectively more complex, especially when it comes to adding new networks and tokens.
Safety
According to this indicator, both storages are about equally good. They are open source, password and/or biometric protected accounts, third parties do not collect or control users’ personal information.
Multi-signature and two-factor authentication are not provided. That is, both repositories are vulnerable to phishing attacks.
Number of supported networks
Trust Wallet is one of the leaders in terms of the number of supported networks. It can store tokens of 70 blockchains. MetaMask is limited to Ethereum based tokens only. It can also be used to store wrapped derivatives of other assets.
Transaction costs
MetaMask users pay a gas and maintenance fee of 0.875% for any swaps. Trust Wallet does not charge any additional fees for in-app cryptocurrency exchange or DApps usage, except for in-net transaction fees. The commission for purchasing assets through third-party exchanges, including https://letsexchange.io/exchange/btc-to-xmr, is 1%, but is not charged if there are 100 or more TWT tokens in the wallet. Both MetaMask and Trust Wallet provide the ability to regulate and customize gas fees.
Private keys and recovery
Since both storages are non-custodial solutions, users themselves store private keys and are solely responsible for them.
Wallet recovery and access to funds is possible with a backup copy of the recovery phrase. In addition, TrustWallet and MetaMask allow you to export your private key, giving you more control over your wallet.
So choose: Trust Wallet or MetaMask
The choice between two repositories with similar characteristics mostly comes down to the goals and plans of the user. For absolute beginners and those who actively use the services of centralized crypto exchanges, Trust Wallet is more suitable. More experienced users who are interested in integrating with DApps should choose MetaMask.