Other than investment, cryptocurrency has changed the way transactions should be done. Thus, you need a trusted crypto wallet. While MetaMask is one of the most popular wallets, you may want to consider MetaMask alternatives to serve the purpose.
What is a Crypto Wallet?
A crypto wallet is like a conventional wallet, but you don’t put your physical money in it. Your crypto assets are listed in the wallet. Nowadays, the human race is living in a digital era where everything is covered by technology. While cashless has become regulars, many people also use another form of money to complete a transaction. So, how would the cryptocurrency wallet app help in storing and securing your crypto assets? A trusted wallet will apply safe and secured services for its users. The most basic security is your digital signatures to authorize every transaction through your wallet.
Types of Crypto Wallets
Digital wallets for your crypto money come in various formats. It is crucial to understand each type before deciding the best crypto wallet for your assets. The types are such as: Hot wallets Hot wallets are the one that has a direct connection to the internet. This type of wallet is commonly in the form of a phone app, online provider, or desktop software program. Many people use hot wallets because the service is free. However, the security risk is higher than other types of crypto wallets. Of course, you can keep it safe by choosing the right digital wallet for your assets. Cold wallets Meanwhile, cold wallets offer something with a saver option. This one is a portable device that provides the capability to download and carry your crypto money. Since you store the assets offline, this option is much more secure than hot wallets.
Why Do Many People Love MetaMask?
MetaMask is surely one of the most popular crypto wallets out there. It provides a gateway to decentralize all of your crypto activities. According to the MetaMask review, many users love this app for various reasons, such as:
Flexible and accessible crypto wallet. It comes with an extension for Chrome, Edge, Firefox, and Brave browsers. Users can store various crypto tokens, along with Ethereum and ERC-20. The app comes with a feature that allows you to interact with decentralized programs.
Despite all the good things about this app, you may find alternative apps that serve a similar purpose with adequate services. Thus, here you will find a series of the best apps like MetaMask. Some of the names are recommendations of the MetaMask alternatives on Reddit.
The Best MetaMask Alternatives
For those who are looking for a secured place to store Bitcoin and other crypto tokens, you can find the right one for you from the list below. Be sure to always weigh the pros and cons before making any decision.
1. Exodus
Are you new to the crypto world? If so then Exodus is the right pick for you. This app offers various features without any custodial plan. Thus, accessing your crypto assets won’t waste your time on many levels. Exodus comes with various features that will help you take care of your crypto assets, such as:
Exchanging more than 100 cryptocurrencies. 24/7 customer support through live chat. Managing your assets on your phone and desktop. Excellent security. No sign-up is required.
However, since Exodus is a hot wallet, it comes with a risk of malware and other cyber issues. Still, the developer always updates the security and everything to ensure a better service.
2. Ledger Nano S
Another alternative to MetaMask is Ledger Nano X. Ledger comes in various versions, and the S version is a smaller one. The cost is also cheaper than other Ledger products. This one is a hardware wallet so that you can store your crypto assets much safely without the risk of malware and another cyber theft possibility. However, this cold wallet only supports 18 applications. Long story short, you must consider Ledger Nano S because:
You can store more than 1,500 types of crypto tokens. Create a complicated password, up to 20 digits. Offline wallets always provide better protection.
However, according to some users, this wallet is not beginner-friendly. And as mentioned earlier, it limits you to 18 applications.
3. Coinbase Wallet
When it comes to MetaMask wallet alternatives, Coinbase should be on the list as well. This app was founded in 2012. Today, it is fully licensed and regulated for cryptocurrency exchange. Before becoming this huge, Coinbase only offered Bitcoin trading. Today, all users can enjoy this program to store and exchange major crypto tokens and many others. Besides being one of the most trusted wallets, Coinbase also offers at least 25 crypto tokens for trading and investment as well as staking. Other than that, the UI is simple and easy to understand. Even beginners would find the app interesting and effortless. Other than that, the platform consistently comes as the top-5 wallets with the highest liquid exchange. Thus, storing and exchanging your crypto coins would be easier and less risky. So, the takeaway points are such as:
This platform offers a wide array of altcoins options. Simple UI and beginner-friendly. The liquidity is consistently high.
However, there are some points you need to consider while choosing Coinbase Wallet. While the pros offer lots of solidities, this platform charges high fees for all users including those who are not using the features. Other than that, there were reports of hacks that drain some users’ accounts, which is an extremely serious matter. Even though it offers various altcoins, its rivals can offer more.
4. Jaxx
Jaxx Wallet is another crypto wallet you have to consider. It supports more than 80 different cryptocurrencies on the market. Its beginner-friendly UI and excellent UX are the most striking points of this digital wallet. Some other features of this app include multi-currency support and trading crypto assets through third-party places without leaving the wallet in the first place. The customer support system is robust and real-time. Other than that, you can use the block explorer feature that allows you to track all transactions through different networks. Many users love this wallet for various reasons, such as:
Wide variety of digital currencies in one place. Simple UI and effortless operation. You can access the wallet from various devices. Supports third-party integrations.
As one of the best MetaMask alternatives, Jaxx Wallet also comes with some points to consider. If you lose your secret key and the backup seed, your account will be frozen forever. This app also has an issue with a security breach in the past. Today, the name has become Jaxx Liberty, which requires you to update the app regularly. Still, this one is worth a shot.
5. Trezor Wallet
Trezor is a crypto company that also provides several types of wallets. It has several types but the most popular yet convenient one is the Trezor Model T. This type is what you must consider if you need a hardware wallet. Even though it is a cold wallet, beginners can use it conveniently too without being confused with the whole digital wallet thing. Trezor Model T is an open-source hardware wallet that comes with a touch screen feature. It is no wonder if a committed crypto user prefers this wallet. Other incredible features may include:
Unlimited storage. Simple touch screen UI. Supports over 1,600 digital currencies. SD card slots are available.
However, some users consider this wallet a bit expensive especially compared to hot wallets. Other than that, some security flaws may exist, just like any other device. Still, since the Trezor Model T is a physical wallet, it is much safer.
6. MyEtherWallet
Another name on the list of the best crypto wallet 2021 is MyEtherWallet (MEW). As its name suggests, users can store ERC-20 currencies along with classic tokens. It is a software program that allows you to store your crypto assets on your device. Since this one is not a web-based application, the security is considered safer. Even though it comes in the form of software, MEW is an open-source portal with a free service. Users can create their preferred individual wallets. There are several strong points about this wallet, such as:
Top-notch security and supports autonomy. Compatible with various OS. Open-source and free. It can work with other hardware wallets. Just like the MetaMask extension, MEW has an extension in Google Chrome. Sensitive and confidential information is safely stored in your private key.
However, some people reported that several challenges appear when they set up the wallet, especially for beginners. And if you used to have a hardware wallet, MEW is not the best substitution for you. There is no live customer support team and there is no 2FA for better security. Even though it supports a wide array of digital coins, you cannot use it for non-Ethereum altcoins.
7. Trust Wallet
Trust Wallet is a software-based digital wallet you can trust to store your crypto assets. Even though this wallet is not as robust as a hardware wallet, its services and features will awe you. As one of the best crypto wallet app names with an open-source feature, this wallet is worth a shot. You can download the wallet for free from iOS and Android. You can store and exchange your assets seamlessly. Also, there is no subscription fee or rate charges for the users. Since it has been downloaded by over 5 million active users, the community support is quite robust. Trust Wallet has tons of good things that will spoil you and ease your mind. Those things include:
Free app and easy to set up. Supports various types of crypto tokens. Staking and earning are available. Users are the holder of their private keys. You can run it both on iOS and Android gadgets.
The only known flaw of this app is its security. Since Trust Wallet is a crypto wallet software, it may not be as secure as a hardware wallet but better than a web-based one. No personal information is stored in the servers.
8. Mycelium
For those who look for a safe hot wallet for your crypto assets, Mycelium should be on your consideration list. As one of the MetaMask alternatives android, this wallet offers lots of conveniences for both new and pro users.
Many users prefer this app for various reasons, such as: All services are free and it is similar to MetaMask. You can set the transaction fees according to your preference. Beginner-friendly.
However, you can only access your wallet through your mobile device. Still, you should consider Mycelium to store Bitcoin or other digital currencies.
9. Electrum
One of the oldest players in the blockchain is Bitcoin, which is also the reason why Electrum was born. Hence, if you use Bitcoin a lot, this wallet might be what you look for. It comes with a series of highlights that support seamless and secured transactions.
Electrum is an open-sourced wallet that you can scrutinize for the sake of safety and better trust. It comes with transaction fees but everything is customizable, depending on how long you are willing to wait for the process. Electrum is integratable with hardware wallets for cold storage, such as Trezor, Ledger, and KeepKey. Supports multi signatures and two-factor authentication.
However, Electrum only supports Bitcoin trading so far, which will be another issue if you are using other crypto coins in the first place. Even though the setup is effortless, beginners may find it complicated. If you find any trouble and need quick help, there is no live customer support whether on chat, email, or phone.
Bottom Line
Since there are tons of crypto wallets, you better choose the one that accommodates your needs the most. However, it is crucial to weigh every pro and con of each platform before making any decision. Cold wallets offer something more secure, which is why lots of pro users and those who take Bitcoin as an investment would prefer this one. However, most crypto wallet app names offer lots of convenience for free, even though security might not be its strong suit. More than anything, be sure to know what you are dealing with before choosing MetaMask alternatives. Make sure that its features offer things that benefit you in the first place.
