Metamask vs Coinbase | We Prefer Coinbase Wallet And Here's Why

MetaMask like other non-custodial wallets is a safe and private wallet option where the keys and assets are always locally stored on the device of users.

When user create a new wallet, they are given a 12-word seed phrase that they have to keep safe and a password that they have to provide each time they login.

To ensure the robustness of their systems, they've had their libraries subjected to multiple security audits by renowned firms like Cure53 and Least Authority, with reports made available to the public spanning dates from August 2017 to March 2023.

To further bolster the security of MetaMask, they actively engage with the security research community through a Bug Bounty Program. This program invites external researchers to identify and report potential vulnerabilities.

Additionally, MetaMask also provides specialised access to authenticated test environments for blockchain security specialists and DeFi community members.

Any non-security-related bugs are directed to be reported on GitHub. Throughout their security stance, MetaMask highlights the importance of responsible behavior, urging against any malicious actions that might jeopardize their users or the project.

As for the Coinbase Wallet, self-custody is also central to its design which ensures that users have full authority over their crypto assets and private keys. This means that without a user's recovery phrase, even Coinbase itself cannot access the assets held within.

This open source wallet also offers advanced security measures ranging from biometrics to security locks, ensuring assets are safeguarded across various devices.

For those looking to further bolster their security, the wallet provides compatibility with Ledger hardware wallets via its browser extension.

Navigating the world of DeFi  is safer with Coinbase Wallet as it ensures transaction transparency through token approval alerts, letting users know precisely which assets a Dapp might access.

Coinbase has a fully decentralized, crowdsourced security audit and bug bounty solution called WEFUZZ. Furthermore, it offers transaction previews to give a clear picture of potential changes in token balances during dapp interactions.

And by leveraging a mix of databases, the wallet can identify and warn users about potentially harmful applications. Furthermore, it offers transaction previews to give a clear picture of potential changes in token balances during Dapp interactions.

The wallet also actively guards against deceptive practices like spam tokens by concealing those identified as malicious and allowing users to report any suspicious ones.

Lastly, Coinbase Wallet goes a step further by offering advanced features like support for multiple Ethereum and Solana addresses. This facilitates users who wish to maintain separate web3 identities and asset pools.

In conclusion, both MetaMask and Coinbase Wallet are robust and popular choices in the world of cryptocurrency wallets.

MetaMask has established itself as a leading wallet service particularly for users interacting with Ethereum and other EVM-compatible blockchains.

With over 30 million users worldwide, MetaMask's strength lies in its simplicity and basic user interface, making it a go-to choice for those engaging with EVM-compatible dApps.

Its open-source nature, support for a wide array of tokens, and proactive security measures further enhance its appeal.

The wallet's in-app swaps feature, facilitated by platforms like Uniswap, Sushiswap, and 1inch, provides users with seamless trading experiences but with a high 0.875% swap fee.

On the other hand, Coinbase Wallet offers a sleek and more well design user-friendly experience with support for not only EVM-compatible blockchains but also Solana.

With over 5 million users, Coinbase Wallet integrates seamlessly with the Coinbase platform making it an attractive option for existing Coinbase users.

It supports a wide range of tokens and offers in-app swaps via Uniswap or Sushiswap with a 1% fee. However, unlike MetaMask, Coinbase Wallet does not currently support staking.

In terms of hardware wallet support, MetaMask has a slight edge, supporting five hardware wallets compared to Coinbase Wallet's support for Ledger.

Both wallets are non-custodial ensuring users have full control over their funds. While both have taken measures to enhance security, MetaMask stands out with its built-in phishing intelligence that alerts users to potential risks.