Metamask vs Coinbase wallet – Which one is better?

Since Metmask and Coinbase are some of the most popular hot wallets on the market, the question Metamask vs Coinbase wallet – Which one is better? is pretty often asked by crypto enthusiasts.

Both wallets have shown some advancements during the last couple of years in terms of security, user-friendliness, and crypto assets compatibility.

Metamask has transformed from an add-on wallet for the main browsers to one of the most used wallets for the Ethereum network.

Coinbase has moved towards the enhancement of security and privacy aspects. In general, both represent the mainstream choice for many crypto asset investors. They became the benchmark wallets in the Defi world in many aspects.

Within the lines below, we focus on the main features of Metamask and Coinbase, comparing them to help you resolve the dilemma of Metamask vs Coinbase wallet – Which one is better?

Metamask vs Coinbase wallet – MetaMask Overview

MetaMask is a cryptocurrency wallet available on mobile apps (iOS and Android) and as a browser extension (Chrome, Firefox, Microsoft Edge, Brave browser), which allows you to interact with all the blockchains compatible with the Ethereum Virtual Machine (EVM). That is to say, the networks programmed in for the Ethereum ecosystem.

This application allows you to store and exchange cryptocurrencies on most web browsers. But also to use decentralized finance applications (Defi) and non-fungible tokens (NFTs).

It’s also called a non-custodial wallet. It allows you to restore your MetaMask wallet on any computer in case of a problem. This means that you are the real owner of the wallet and the cryptocurrencies it holds because you have your own private key.

MetaMask is also compatible with iOS and Android, although, for security reasons, we do not recommend using it on a smartphone.

MetaMask is versatile since it can operate as a hot and cold wallet. It can be connected to a hardware wallet such as Ledger Nano. That means that the user can check his balance, conclude transactions, or interact with individual projects without having to reveal the PINs of his hardware wallet. On the other hand, Coinbase can’t be connected to cold wallets.

In order to connect the hardware wallet to Metamask, just click on the circular symbol at the top of the extension window. Then you have to choose ‘Connect the hardware Wallet.’

Metamask vs coinbase wallet – Coinbase overview

Coinbase Wallet is the cryptocurrency wallet offered by the Coinbase cryptocurrency exchange platform. It was formerly known as Toshi, a decentralized application browser already popular in the field. It supported Ethereum and ERC-20 tokens at the time.

Coinbase WalletIt was in 2018 that Toshi officially became Coinbase Wallet. The functionality of the wallet then expands. Today, it supports other cryptocurrencies besides Ethereum and ERC-20 tokens. It is also possible to store virtual collectibles there.

Besides, Coinbase Wallet operates independently of the related platform. That means you can register and use it without having a Coinbase account.

Since 2020, customers using the Android app can buy cryptocurrency directly through their wallets.

On the Coinbase wallet, the keys are stored online, and all transactions are done via the web. This type of wallet is particularly suitable for beginners, thanks to its ease of use.

Coinbase Wallet also operates as a mobile app. It, therefore, comes in the form of an application to download on your smartphone or tablet. It is compatible with Android and iOS systems. They are therefore available on Google Play and AppStore. You can thus access your wallet from anywhere if you have an Internet connection.

Coinbase Wallet is known to be one of the most secure crypto wallets around. The system of multiple signatures to validate movements within the safe limits, for example, the risk of theft or loss. Biometric authentication or the use of QR codes also promotes data security. Protection measures against hacking are also well elaborated.

Metamask vs Coinbase wallet – detailed comparison

We have seen the platforms and OS systems on which these wallets are available as well as their security level. Let’s look at the fees, customer support, and cryptos available for investing.

Metamask vs Coinbase wallet – cryptocurrencies supported

Coinbase Wallet only supports a handful of cryptocurrencies at the moment. You can use it as a Bitcoin Wallet or store the following crypto coins:

• Litecoin
• Dogecoin
• Stellar Lumens
• Ripple
• bitcoin-cash
• Ethereum
• Ethereum Classic
• ERC-20 tokens

Beyond Ethereum network tokens, the Metamask Wallet supports digital assets from other chains. We can count the Binance Smart Chain (BSC) and Basic Attention Token (BAT) projects. All stablecoins like Tether are also included in the wallet products. Besides the ERC-20 and BEP-20 protocols, some currencies are unique to the wallet. These include Smart Cash, Ripple, Tron, Cosmos, and Digbyte, among others.

Metamask vs Coinbase wallet – customer support

The Coinbase app does not directly offer customer support. If you have questions, scroll down to your profile and tap “Contact Us.” You are directly redirected to the “Wallet” section of the Coinbase platform help page.

See if the articles offered can help you solve your problems. If not, tap the “question mark” at the bottom of the screen to open the chat. You will be put in touch with a robot who only speaks English.

MetaMask’s support is available via the Support menu section on their website MetaMask.io. You will be connected with customer support when you click on the Start conversation button.

Metamask vs Coinbase wallet – the fees

Metamask wallet is free to download. You can find the three wallet browser extensions on the official wallet website.

When it comes to transaction fees, you have three options: slow, medium, and fast. You can choose one of these options depending on how fast you want your transaction to be completed. MetaMask also allows custom charges which can be set by clicking “Advanced Options.” Remember that setting fees that are way too low can prevent your transaction from completing.

Transaction fees are usually measured in Giga Wei or Gwei. The fees go to the miners on the network.

Coinbase fees are not among the cheapest on the market. However, downloading the Coinbase Wallet application and updates are free, whether on Google Play or AppStore. Opening a wallet is also free of charge. Nevertheless, the wallet charges transactions, including sending, buying, and receiving, as compensation for its services.

The fees vary between 1.49 and 3.99% of the transaction amount. They differ depending on the cryptocurrencies and the current market situation.

Metamask vs Coinbase wallet – is metamask better than coinbase wallet

Buying cryptos is quick and relatively easy. Storing them easily and safely can sometimes seem complex. When opting for one crypto wallet, the main aspects you need

to look at are security, transaction fees, cryptocurrencies available, and reliable customer support. Bearing all this in mind, we can summarize our impression of Metamas and Coinbase wallet.

One of the main advantages of Meta Mask is its ease of use. Indeed, you just need to download it to your phone to be able to take advantage of its features. Once downloaded, all you have to do is install the extension to start using it. In addition, the BSC Metamask wallet allows you to store cryptocurrencies from the Metamask Binance blockchain. It also offers the option to connect it to encrypted keys. These are the physical wallets that allow you to store your currencies offline.

Opting for a Metamask or Coinbase wallet is the assurance of long-term storage of crypto assets without taking the risk of being hacked. Generally, these wallets are basically equal when it comes to safety.

Given that OpenSea is one of the most prominent NFT marketplaces, the perk of connecting it to your wallet might be crucial for your choice. Opensea doesn’t support Coinbase by any means, so MetaMask is a better choice if you deal with the OpenSea platform.

Also, Coinbase is aiming to host its own NFTs marketplace so that it will enable Coinbase wallet compatibility.

When it comes to assets available, you can see that MetaMask is more oriented toward the Ethereum ecosystem, while Coinbase focuses on other popular altcoins whose number is considerable, though. Coinbase disposes of 50 various crypto altcoins.

Final verdict – MetaMask vs Coinbase wallet

We hope this in-depth comparison of Metamask vs Coinbase wallet can help you decide which one is more suitable for you. Each type of wallet we described has its advantages and shortcomings. Knowing all their features will allow you to determine which one best suits each of your needs.

MetaMask and Coinbase are the two mainstream and often used crypto wallets these days. They have proven their efficiency and security over a long period of time. As you can see, they differ in the level of cryptos available, fees, connectivity with the NFT exchanges, and cold wallets.

Finally, we have only scrutinized the features of MetaMask and Coinbase here. But as you are aware, there are many other reliable crypto wallets on the market to consider. Since you are solely responsible for your crypto assets, it is advisable to play the card with caution and to use multiple wallets if necessary.