Trust Wallet vs. MetaMask – Which is the best wallet 2024?

Who is the winner for crypto investors: Trust Wallet or MetaMask? Our 2024 guide explores all the features, pros and cons, and more of the two most popular crypto wallets in the market!

Trust Wallet vs. MetaMask – Overview 

Video-Tutorial: How to set up the Trust Wallet

What is Trust Wallet?

Trust Wallet is one of the most popular crypto wallets online that enables users to store, manage, send, and receive several cryptocurrencies under a decentralized and non-custodial avenue. Trust Wallet is a mobile-first application, but it also offers a browser extension and runs on multiple operating systems, enabling wide access to crypto tokens across 70+ blockchains.

Given its wide range of supported blockchains, including networks like Solana, investors can access over 4.5 million digital assets on the wallet while branching out to other features, including:

• Access to staking;
• Buying crypto with FIAT (e.g., EUR, USD) through third parties;
• Access to NFTs on dozens of blockchains;
• Low costs (no fees for swaps);
• High security and robust backing;
• User-friendly interface;
• DEX integrations.

Pros & Cons

Pros of using Trust Wallet:

• Access to over 4.5 million coins across networks (e.g., BEP-20, TRC-20);
• Support for many blockchains beyond Ethereum and EVM chains; 
• UX-friendly features for beginner crypto investors;
• Low costs (gas fees) and free swapping;
• Native swapping options for some networks and enabling multi-asset swapping through partners;
• Ownership of your assets;
• Access to decentralized applications across many networks;
• Access to more investment vehicles, from staking to NFTs;
• Fiat on-ramp solutions through third parties;
• Part of the leading company in crypto, Binance.

Cons of using Trust Wallet:

• Secure, but since it is a decentralized application, it can be subject to more online threats;

Congestion on networks can lead to higher gas fees.

Video-Tutorial: How to set up the MetaMask

What is MetaMask?

MetaMask is the most popular crypto wallet in the market, with over 30 active million users as of 2024. The company is a pioneer in the space, offering a non-custodial wallet through a browser extension (Chrome, Firefox, Brave, Edge) and a mobile app (iOS and Android).

MetaMask is especially interesting for investors looking to enter the Ethereum and EVM ecosystems, supporting over 500,000 coins across popular networks like Polygon, Binance Smart Chain, Arbitrum, and Avalanche. Beyond storing, sending, receiving, and swapping assets, MetaMask offers FIAT on-ramp through third parties, staking, access to decentralized apps (dApps), NFTs, and more.

Pros & Cons

Pros of using MetaMask:

• Access to over 500,000 tokens across the major networks;
• The native crypto wallet for Ethereum and Ethereum-compatible blockchains;
• Access to more networks beyond Ethereum, like Binance Smart Chain, Polygon, Arbitrum, Optimism, Avalanche, and Fantom;
• Swaps between tokens natively on the app based on prices from popular DEXs (e.g., Uniswap);
• Full control and security over your digital assets;
• Access to NFTs (Ethereum and Polygon), dApps, and staking;
• Fiat on-ramp through third parties;
• Integration with hardware wallets (e.g., Ledger, Trezor);
• Open-source app;
• The pioneer in the crypto wallet space.

Cons of using MetaMask:

• UX is friendly, but some operations can seem a bit more challenging to beginners in the Web3 space;
• A fee of 0.875% on swaps;
• Potential congestion leading to higher gas fees.

Trust Wallet vs MetaMask: Key Differences

Trust Wallet and MetaMask share most of their features, but there are key differences, especially in three areas:

• Supported blockchains and coins;
• Fees on swaps;
• Open-source nature.

Trust Wallet offers access to more blockchains and their entire ecosystems, from DeFi to NFTs. MetaMask focuses more on Ethereum and Ethereum-compatible (EVM) chains despite integrating with other networks (e.g., Binance Smart Chain, Polygon). 

In terms of cost, MetaMask charges a 0.875% fee on swaps, while Trust Wallet does not, despite gas fees affecting transactions on both wallets. Finally, Trust Wallet is part of one of the largest crypto companies in crypto, Binance, while MetaMask is an open-source application.

Tip: To get the best of a crypto wallet, please evaluate your needs before selecting one as your default wallet for investing.

Features

Trust Wallet and MetaMask share many of the same features, with some key differences:

• MetaMask offers integrations with multiple hardware wallets, while Trust Wallet only supports Ledger;
• Trust Wallet offers a native staking functionality, unlike MetaMask;
• Trust Wallet supports more blockchains and a dedicated visual gallery for NFTs.

Blockchain Compatibility

Trust Wallet supports over 70 networks like Solana, Cosmos, Tezos, and Ripple, while MetaMask is more focused on Ethereum and EVM networks despite integrating with others (e.g., Avalanche, Arbitrum, Optimism).

Security

Both wallets have similar levels of security, from pin protection and biometric solutions to built-in phishing protection and a 12-word seed phrase to recover the wallet. However, MetaMask integrates with several hardware wallets (e.g., Trezor), while Trust Wallet only supports Ledger.

Tip: If you plan to hold crypto assets in the long term, storing them in a hardware wallet is key for security. Please evaluate this before choosing what tools to use.

Supported Coins

Trust Wallet supports more networks than MetaMask, opening access to an estimated 4.5+ million coins, while MetaMask covers more than 450,000 digital assets. 

Fees and Costs

There is a key difference between MetaMask and Trust Wallet regarding costs, with MetaMask charging a 0.875% fee on swaps while Trust Wallet does not. However, you’ll always have to account for gas fees on both wallets.

Tip: If you’re a beginner investor, please know that gas fees on Ethereum chains are higher than on other networks like Solana and Avalanche.

User Interface and Experience

Trust Wallet and MetaMask offer a very user-friendly interface to crypto investors, but some argue that MetaMask could be more suited to advanced crypto users.

Access to Decentralized Applications (dApps)

Both wallets offer access to decentralized applications across their supported networks, enabling investors to enter the world of Web3, from DeFi lending to NFTs.

Which Wallet Offers the Best Protection?

MetaMask and Trust Wallet are non-custodial crypto wallets, with investors controlling their private keys and assets. However, MetaMask works between its device and hardware wallets, offering more protection to investors in the long term, while Trust Wallet only integrates with Ledger.

In case of attacks or other security breaches, both wallets offer a 12-word seed phrase to recover access to the wallet, which is the standard procedure. They also offer the same level of protection for transaction approval and log-in steps. Since both offer a mobile app and browser extension, they are exposed to the same online threats (e.g., phishing attacks). However, one difference is that MetaMask is open source, with contributions from a large community.

Conclusion: Trust Wallet vs. MetaMask 

Trust Wallet and MetaMask are some of the most popular crypto wallets in the market, offering top security, reliability, and friendly user experiences. However, there are key differences between both wallets. While MetaMask is more suited for the Ethereum ecosystem, Trust Wallet is a better option if you plan to use more blockchains (e.g., Solana). If you plan to use a crypto wallet for other operations like swaps, Trust Wallet is a better option as it does not charge fees.

The most important aspect is to carefully evaluate your needs before using Trust Wallet or MetaMask to choose the most appropriate option. CoinTracking can track your trades from both wallets and enable a quick and easy way to do your crypto taxes.

Summary of Key Points

TL;DR about Trust Wallet vs MetaMask

• Both wallets enable investors to send, store, receive, and swap digital assets while giving access to the Web3 world, from DeFi to NFTs and staking;
• The main differences between Trust Wallet and MetaMask are swap fees, the number of supported blockchains and coins, and integration with hardware wallets;
• In terms of security, they offer similar levels of protection while enabling users with full control over their assets in a UX-friendly way;
• CoinTracking enables crypto investors to do their taxes from MetaMask and Trust Wallet.