Trust Wallet vs Metamask – Which is Best in 2024?

Trust Wallet and MetaMask are two popular non-custodial wallets – each boasting over 60 million and 30 million users, respectively.

But which wallet offers the overall best user experience, features, and security?Best

Read on to discover our Trust Wallet vs MetaMask comparison. We explore how each wallet compares for supported coins, fees, customer support, safety, and more.

Supported Coins

In this section of our Metamask vs Trust Wallet comparison, let’s explore how the two wallets compare for supported coins.

MetaMask Supported Coins

MetaMask supports a range of blockchain networks. But, when first setting the wallet up, it initially only comes preloaded with Ethereum.

The Ethereum wallet address provided by MetaMask also supports the best ERC20 tokens. This includes Tether, Shiba Inu, and Dogecoin. That said, if a particular ERC20 token isn’t supported, users can add it manually. This requires the user to provide MetaMask with the ERC20 contract address.

In addition to Ethereum, MetaMask also supports the following networks:

• Arbitrum
• Binance Smart Chain
• Optimism
• Polygon
• Avalanche

These five blockchain networks alone are home to thousands of tokens. And they can all be added to MetaMask. If MetaMask doesn’t list the token initially, users can add the token manually.

We also found that MetaMask supports NFTs. This covers all NFTs on the ERC-721 and ERC-1155 standards.

Trust Wallet Supported Coins

When it comes to supported coins and networks – Trust Wallet is one of the best non-custodial wallets in the market. It supports all of the networks available on MetaMask – and dozens more.

For example, while MetaMask doesn’t support Bitcoin, Solana, XRP, and Cardano – Trust Wallet does. This is in addition to Polkadot, Cosmos, Stellar, Filecoin, Tezos, Fantom, Elrond, and dozens more. In fact, Trust Wallet supports over 70 blockchain networks in total.

Trust Wallet also supersedes MetaMask for supported NFT standards making it one of the best MetaMask alternatives in 2024. In addition to the ERC-721 and ERC-1155 standards, Trust Wallet also supports NFTs from the Solana, Polygon, Optimism, Binance Smart Chain, Arbitrum, Tezos, and xDai networks.

Are Trust Wallet & Metamask Centralized or Decentralized?

Put simply, Trust Wallet and MetaMask are considered two of the best decentralized crypto wallets in the market. This is because both providers offer non-custodial storage. In fact, both wallets use the same set-up structure when providing users with their private keys.

• After downloading and installing Trust Wallet or MetaMask, a 12-word backup passphrase is displayed
• This is a string of words that represent the private keys when entered in the correct order
• Users are asked to write their backup passphrase down before proceeding
• The backup passphrase provides access to Trust Wallet and MetaMask if the user losses their password or device

Neither Trust Wallet nor MetaMask has access to the user’s backup passphrase. While the 12 words are shown on-screen, they are encrypted from the provider’s servers.

Moreover, while both wallets ask the user to re-enter the 12-word passphrase for confirmation, this doesn’t require them to type the full words in. Instead, the words are selected on-screen in randomly generated locations.

As decentralized wallets, neither Trust Wallet nor MetaMask requires any personal information from users. On the contrary, both wallets allow users to store cryptocurrencies anonymously.

The only exception here is if users choose to buy cryptocurrencies with fiat money. This will require a KYC verification process, meaning users are no longer anonymous.

MetaMask vs Trust Wallet Fees

In this section of our MetaMask vs Trust Wallet comparison, we examine fees.

Download and Storage Fees

There are no download or storage fees to pay when using MetaMask and Trust Wallet.

This is the case with all of the best hot wallets in the market.

Transaction Fees

There are no fees levied on incoming transactions. Instead, this is paid by the sender.

Both MetaMask and Trust Wallet charge fees when users send cryptocurrencies from their wallets. However, this is based on the current blockchain mining fee.

As such, neither MetaMask nor Trust Wallet makes any money from GAS fees.

Staking Fees

MetaMask does not explicitly state whether it charges staking fees. That said, its staking feature is provided by Lido and Rocket Pool. These providers take a 14% and 10% cut from any staking rewards generated.

Trust Wallet does not charge any staking fees. But it does use external pools to secure yields, so third-party fees may apply.

Token Swap Fees

MetaMask allows users to swap tokens without leaving its wallet. This is charged at a markup of 0.875% on top of the rate it is able to secure.

Trust Wallet does not charge any fees on token swaps. But users should still check what exchange rates are offered before confirming.

Fiat Payment Fees

One of the few ways that both MetaMask and Trust Wallet make money is through fiat payments.

First, MetaMask uses a combination of payment providers when processing fiat money purchases. This includes MoonPay, Mercuryo, Transak, and Sardine. These providers charge in the region of 3-5% on debit/credit cards. But the specific fee will vary depending on the user’s location, currency, and payment type.

Trust Wallet uses Simplex, which charges between 3.5-5% on fiat payments. This is at a minimum of $10.

Security – Which is Safest?

When it comes to security, our Trust Wallet vs MetaMask comparison found little to separate the two.

For example, both wallets are secured with a:

• PIN/Password: The apps are secured with a PIN. The browser extensions are secured with a password. Both of the user’s choosing.
• Backup Passphrase: Both Trust Wallet and MetaMask provide users with a 12-word passphrase. This represents the private keys and provides remote access on any device.

Unlike other hot wallets, there is no support for multi-sig permissions. Nor is there any option to keep the wallet in cold storage.

So what are the risks? Well, if the user clicks on a link from an unknown source and it ends up being a virus, the private keys can be compromised.

Furthermore, if someone has access to the device the wallet is stored on, they might be able to enter the wallet. This depends on whether the password/PIN feature is switched on.

Ultimately, both Trust Wallet and MetaMask require users to take full responsibility for the security of their wallets. If this doesn’t suffice, it might be worth considering a custodial wallet.

Trust Wallet vs Metamask Features

Now let’s compare Trust Wallet and MetaMask for their features.

Web 3.0 dApps

Trust Wallet and MetaMask make it simple to access Web 3.0 dApps. All dApps are supported, as long as the wallet is compatible with the respective network. This includes everything from OpenSea, SushiSwap, and Curve to Yearn.finance, UniSwap, and PancakeSwap.

The chosen dApps can be accessed within the mobile app or browser extension. When opting for the latter, users can click on the ‘Connect Wallet’ button and choose their preferred wallet. Any actions that are taken – such as token swaps and staking, will reflect in the user’s wallet.

Neither Trust Wallet nor MetaMask charges to use Web 3.0 dApps. However, GAS charges will apply, which are deducted from the wallet balance.

Token Swaps

Trust Wallet and MetaMask allow users to swap tokens without leaving the wallet.

Cross-chain functionality is supported, meaning tokens from different blockchains can be swapped. For example, both wallets allow users to swap ETH for BNB.

That said, Trust Wallet is the better option when swapping tokens. Not only does Trust Wallet support considerably more tokens and networks, but it doesn’t levy fees. MetaMask, on the other hand, charges a swap fee of 0.875%.

Staking

Staking is increasingly becoming popular with long-term crypto investors. Both Trust Wallet and MetaMask have an in-built staking tool, making it seamless to earn passive rewards.

That said, Trust Wallet once again supersedes MetaMask.

This is because MetaMask only supports Ethereum staking. Moreover, only two pool providers are supported – Lido and Rocket Pool. The maximum yield currently offered is 3.96%.

Trust Wallet offers an in-built staking tool that supports Ethereum and dozens of other PoS coins. This includes everything from Cardano and Tezos to Cosmos and Kava. The highest yield currently is 19.6% on Osmosis.

However, do note that Trust Wallet only supports staking on its mobile app and not the browser extension.

Debit/Credit Card Payments

As noted earlier, both Trust Wallet and MetaMask indirectly support debit/credit card payments. This enables users to buy cryptocurrencies from within their wallets.

The fiat payment feature is provided by third parties. While Trust Wallet uses Simplex, MetaMask uses a variety of providers. This includes Transak, MoonPay, Sardine, Wyre, and Mercuryo.

Once again, fees will range from 3-5%, depending on the payment type and currency. This is only displayed once the user has been matched with a payment provider.

The payment provider will take care of the KYC process, including collecting personal information, contact details, and verification documents. After finalizing the payment, the cryptocurrencies will be transferred to the wallet.

User Experience

With over 90 million customers between them, both Trust Wallet and MetaMask have a significant user base. As such, both wallet providers have designed their apps and browser extensions to suit beginners and experienced pros alike.

We found that all relevant steps are clearly explained, so no prior experience is needed to use either wallet. For example, opening Trust Wallet and MetaMask for the first time requires a quick setup process. This asks the user to create a new wallet, choose a password or PIN, and write down their backup passphrase.

We also appreciate that both wallet providers ask users to securely re-enter their passphrases. This needs to be done before proceeding to ensure the passphrase was written down correctly. Both wallets also mark each supported function clearly.

For example, in both Trust Wallet and MetaMask, clicking on the ‘Swap’ button reveals an order box. From there, it’s just a case of choosing which tokens to swap and the amount.

We also found that sending and receiving cryptocurrencies is straightforward across both wallets. After clicking on the token, Trust Wallet and MetaMask show ‘Send’ and ‘Receive’ buttons. Clicking on one of these buttons will allow users to complete the transaction.

Withdrawals

The process of withdrawing cryptocurrencies from Trust Wallet and MetaMask is like-for-like.

Across both wallet providers, the user will need to:

• Click on the cryptocurrency they want to withdraw. Make sure the correct network is selected.
• Then, click on the ‘Send’ button
• Type in the number of tokens to transfer
• Review the GAS fee and confirm the transaction

As long as there is enough GAS in the wallet, the transaction will be sent to the blockchain instantly. Both Trust Wallet and MetaMask are non-custodial wallets, so the transaction leaves immediately.

Trust Wallet vs Metamask Customer Service

Overall, MetaMask offers a greater level of customer support when compared to Trust Wallet.

MetaMask offers a live chat around the clock. Initially, users are connected with a bot, to answer some basic questions. This includes the device type and the nature of the query. This ensures that the user is redirected to the right department. Waiting times will vary considerably depending on how many users seeking assistance.

In contrast, Trust Wallet does not offer live support. The only way to contact Trust Wallet is via a support form. This requires the user to specify their query and wait for a response. Replies can take hours or days, depending on how many inquiries the support team needs to action.

That said, both Trust Wallet and MetaMask offer a solid help section on their websites. This includes hundreds of guides that cover most queries. It’s worth checking this before requesting support.

Bottom Line

If you’re still struggling to decide between these two non-custodial wallets then we recommend reading our full MetaMask wallet review and Trust Wallet review today.

In summary, our Trust Wallet vs MetaMask comparison found that both wallets carry many similarities. For example, both are non-custodial wallets that are free to download as apps and browser extensions.

What’s more, both Trust Wallet and MetaMask support staking, token swaps, and third-party fiat payments. Overall, however, Trust Wallet pips MetaMask. This is certainly the case when it comes to supported coins.

For instance, MetaMask does not support Bitcoin, Cardano, Solana, Litecoin, or XRP. While Trust Wallet is compatible with all these networks and dozens more. Additionally, MetaMask charges a 0.875% fee on token swaps.

Trust Wallet not only offers fee-free swaps but staking too. Plus, MetaMask only supports Ethereum staking. While Trust Wallet supports dozens of other staking coins at competitive APYs.

If you’re still unsure about which crypto wallet to choose, the section below discusses a potential alternative crypto wallet to the above two we have analyzed in this guide.

Best Wallet – Non-Custodial Wallet and Decentralized Exchange is a Top Alternative to Other Crypto Wallets

Investors looking to manage their digital assets, store NFTs, and access trading insights with a highly secure cryptocurrency platform can try out the Best Wallet. This non-custodial multi-chain cryptocurrency wallet is compatible with thousands of crypto tokens and will soon offer staking opportunities with the $BEST token. 

A potential alternative to MetaMask and Trust Wallet, Best Wallet will introduce top-quality market insights and features to offer better trading strategies. Through this all-in-one Web3 wallet, users can store all their crypto wallets and assets under one roof. Best Wallet supports all tokens compatible with the Ethereum and BNB Smart Chain. 

In the future, the platform will be compatible with the Bitcoin network as well. Some of the upcoming features on Best Wallet include portfolio management options – allowing users to easily track their profits and losses in real time. 

Users can also access the Best DEX to trade thousands of cryptocurrency tokens. This decentralized exchange requires no registration and connects you with the best liquidity pools to offer instant trades. By holding the $BEST token, investors can earn discounts on trades.

The project roadmap, which has laid down the future releases of Best Wallet in six phases, also states that $BEST will offer staking benefits. By phase 5, the staking mechanism will give token holders voting rights on new projects and offer zero gas fee trades. 

The project roadmap highlights another important part of the BEST ecosystem – NFT compatibility. Best Wallet will soon offer the same functionalities as an NFT wallet – offering an NFT gallery to store your curated collection and directly buy and sell new NFTs on the platform. 

The final phase of the roadmap will focus on launching the $BEST token airdrop – which will be offered to the top users of the Best Wallet and DEX. Soon after, $BEST will be listed on cryptocurrency exchanges. 

Learn more about this new crypto wallet by going through the Best Wallet Discord and joining the Telegram channel. The Best Wallet app can be downloaded via iOS and Android. 

The Verdict

There a plenty of other crypto wallets in the market – so neither Trust Wallet nor MetaMask are necessarily the best options.

On the other hand, Best Wallet is a new non-custodial multi-chain wallet option that has recently launched. Best Wallet will offer NFT galleries, a decentralized exchange, and staking benefits through its native token – $BEST.

Furthermore, Best Wallet members will be able to access trading insights and get free $BEST tokens through an upcoming token airdrop.

References

https://trustwallet.com/

https://metamask.io/

https://eips.ethereum.org/EIPS/eip-1155

https://www.swift.com/your-needs/financial-crime-cyber-security/know-your-customer-kyc/kyc-process

https://ethereum.org/en/developers/docs/gas/

https://exponential.fi/protocols/8cff41a1-77fe-4304-a084-94280ddd6f78

https://support.simplex.com/hc/en-gb/articles/360014078420-What-fees-do-you-charge-for-card-payments

https://www.dowjones.com/professional/risk/glossary/know-your-customer/

https://coinmarketcap.com/currencies/ethereum/

https://coinmarketcap.com/view/pos/

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Kane Pepi

Editor

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Kane Pepi

Editor

Kane Pepi is an accomplished financial and cryptocurrency writer who has an extensive portfolio of over 2,000 articles, guides, and market insights. With his expertise in specialized subjects such as asset valuation and analysis, portfolio management, and financial crime prevention, Kane has built a reputation for providing clear explanations of complex financial topics. He holds a Bachelor's Degree in Finance and a Master's Degree in Financial Crime, and is currently pursuing his Doctorate degree, which focuses on investigating the complexities of money laundering in the cryptocurrency and blockchain technology sectors. Kane's wealth of knowledge and experience in the field make…

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