Mon Apr 17 2023
Meaning of Metamask
Metamask is a software cryptocurrency wallet that is designed to run as a browser extension for Google Chrome, Mozilla Firefox, Opera, and Brave web browsers. It allows users to interact with Ethereum-based decentralized applications (dApps) on the web without running a full Ethereum node. Metamask also bridges users and the Ethereum blockchain, providing a secure and easy-to-use interface for managing Ethereum-based digital assets, including ether (ETH) and ERC-20 tokens. In essence, Metamask acts as a gateway for accessing the decentralized world of blockchain technology and cryptocurrencies.
Meaning of Coinbase Wallet
Coinbase Wallet is a non-custodial mobile wallet and decentralized app (dApp) browser for managing and storing cryptocurrency assets. It was launched by Coinbase, one of the world's largest cryptocurrency exchanges, in 2018. Unlike a custodial wallet, where a third party holds your private keys and controls your funds, Coinbase Wallet gives you full control over your private keys, enabling you to securely store and manage your digital assets on your mobile device.
Coinbase Wallet supports many cryptocurrencies, including bitcoin, ether, and ERC-20 tokens. It also enables users to interact with decentralized applications (dApps) on the Ethereum blockchain, allowing for seamless integration between the wallet and various decentralized finance (DeFi) protocols, games, and other dApps.
Pros & Cons of Coinbase Wallet
Pros & Cons of Metamask Wallet
Also Read: Is Metamask safe: A Quick Read
Difference between Metamask & Coinbase Wallet
When it comes to Bitcoin wallets, there are two prominent options: Metamask and Coinbase Wallet. Both wallets have advantages and disadvantages, and the decision ultimately boils down to what you value in a wallet. Here are a few crucial topics to think about before making your decision:
1. The Simplicity of Use:
There is a clear comparison between Metamask and Coinbase Wallet regarding simplicity of use. Metamask, as a browser plugin, is extremely user-friendly and can be used from anywhere as long as you have internet access. Coinbase Wallet, on the other hand, needs you to download the app and log in whenever you want to access your wallet. Despite this, Coinbase Wallet features a considerably cleaner and more user-friendly design.
2. Supported Cryptocurrencies:
These are vital to consider while comparing Metamask with Coinbase Wallet. Both wallets support a wide range of popular coins. However, Metamask supports over 700 cryptocurrencies instead of Coinbase Wallet, which only supports a few of the most prominent ones. This may not be a deal-breaker for certain users who only deal with popular cryptocurrencies. Still, Metamask may be a better alternative for those who want a broader range of possibilities.
3. Beginners Friendly:
Metamask and Coinbase Wallet are both extremely simple to use. Simply enter your email address and establish a password to create a new account. There is no registration or KYC process required. You may simply access your wallet at any time and from any location.
Coinbase Wallet was created with simplicity in mind, making it extremely simple to use. Metamask is also basic and easy to use. It doesn't have as many features as the previous one, but that's because the makers created it to store big quantities of cryptocurrency, similar to Coinbase Wallet.
4. Customer Service :
Metamask provides great customer service across various channels, including email, phone, and live chat. They also provide a forum where individuals can discuss their experiences. The Coinbase support team is available by email or phone 24 hours a day, seven days a week, but there is no live chat or community forum.
5. Gas Fee:
When you send a Bitcoin transaction, the fee you pay is frequently depending on the transaction's size in bytes. This is known as a petrol fee. The faster the transactions, the larger your petrol fee.
Coinbase does not charge a fee for making transactions or keeping cryptocurrency assets. In the case of Metamask, however, a trading fee of 0.3% to 0.875% is levied during asset withdrawal.
Both wallets have some fantastic features, but the choice ultimately comes down to the user and their personal tastes. Both wallets provide nearly equal functionality; however, some slight variances exist. Coinbase, for example, allows its users to operate dApps on a web-based platform, whereas MetaMask provides hardware wallet integrations.
Despite its integration with several blockchains, Coinbase cannot compete with MetaMask's capacity to interact with every dApp on the Ethereum blockchain. Finally, while selecting a wallet, you must consider accessibility and ease, especially if you intend to store your valuables securely.
Reveation Labs is a specialized software development firm that can help you create your own cryptocurrency wallet. We can assist you in creating a custom crypto asset wallet that will fulfill all industry standards and properly meet your business requirements. You won't have to worry about security or functionality issues this way!
Why Reveation Labs
We are a team that is technically proficient and simultaneously caring for your business. Our ideology is to provide the latest technologies that suit your business well.
Let’s discuss your requirements!
Give your business the next-gen technology it deserves. Be a part of our family of successful enterprises that work on high-end software solutions.
In all the latest technologies and developments.
To innovate the best solutions and pick the right technology for you.
To always put you first & respect your business values and procedures.
To meet the deadlines and help you until the very end and beyond.
For all your business needs and queries at any point of time.
In our ways of working.