Is Trust Wallet capable of luring MetaMask users?
By Lev Peschykhin 1845 25 Aug 2022
Pretty much everyone in the crypto industry has heard about the MetaMask wallet. Last year, they surpassed 10 million monthly active users, making it the world's leading non-custodial crypto wallet.
According to Metamask statistics, in 2022, there are 20+ million monthly active users of their app, which is a 38-time increase from 2020.
It has proven itself as the easiest way for people worldwide to interact with the Ethereum blockchain and any Ethereum-compatible network like Polygon, Arbitrum, and Optimism.
But let's not forget about their major competitor in the hot wallet industry – Trust Wallet. There has been a lot of hype around it, and it seems that the Trust Wallet team will not stop at this point.
Why do we think so? On August 18th, their team secretly uploaded a beta version of the browser extension on the Chrome Store, leaving users and fans wondering about any further releases.
However, the Trust Wallet team does not recommend using the beta version. Many users started thinking either they might take over PC users and become the leader in the market, or that there would be no need to re-divide the market share at all.
So, together, we have decided to make a brief comparison between the two widely used cryptocurrency wallets and decide whether to buy some $TWT or wait till MetaMask announces their token (haha).
- Access to 4.5 million kinds of digital assets and more than 60 blockchains.
- Ability to buy cryptocurrency with your credit card.
- Compatible only with most browsers on iOS and Android.
- ERC tokens, BNB chain tokens, NFTs, Bitcoin, and other popular currencies are available.
- Staking, swapping, earning interest, Dapps browser right in the app.
In general, Trust wallet is extremely easy to access. You can sign up and use it within a minute. It’s also open-source, so its developers usually quickly address any issues. You can also use it to make in-app purchases or send funds to others through various social media platforms. In addition, Trust Wallet offers better security features by ensuring that your private keys are always stored locally and are highly protected.
- Focuses on Ethereum-based Dapps and transactions within the Ethereum network.
- MetaMask does not accept Bitcoin transactions.
- Option to choose networks that cost less than others and then proceed transactions.
- Compatible with most browsers on iOS, Android, and, what is important, PCs.
- MetaMask wallet has a limited scope of security.
Metamask still remains a very reliable and secure product. But it has some limitations compared to Trust Wallet. And apart from mentioning its limitations to Ethereum, you'll also need to connect to a decentralized exchange to swap any tokens. However, its user experience makes it stand out from other wallets, which makes using decentralized applications easy.
Given Trust Wallet's recent announcement that they are testing a browser beta extension, we have a sneaking suspicion that they are aiming for the position of an absolute leader in the hot crypto wallet industry. In addition, considering their relations with the big players of the crypto industry and having the $TWT token behind their back, we might undoubtedly say they have all chances to make it.