MetaMask vs Trezor | Why Trezor Is Overall Safer & Better
Jack Moreau
Feb 2024
8 min read
Fact checked
Introduction: In our comprehensive MetaMask vs Trezor comparison, we have meticulously examined factors such as blockchain support, cryptocurrency compatibility, distinctive features, integrations and security. With our insightful analysis at your fingertips, you'll be equipped to make an informed decision in choosing the ideal wallet!
MetaMask and Trezor are two popular wallet options for users looking to securely store their cryptocurrencies. In this extensive overview, we will compare and contrast the two wallets based on various factors.
MetaMask, developed by ConsenSys, is a leading non-custodial software wallet with a strong focus on Ethereum and EVM-based blockchains. It currently boasts over 30 million monthly active users, making it one of the most popular non-custodial wallets in the world.
MetaMask Website
ConsenSys has raised over $450 million in venture capital to support MetaMask's growth. The wallet allows users to store, send, and receive ETH and other ERC20 tokens, while also seamlessly interacting with decentralized applications (Dapps) directly from the browser.
MetaMask is available as both a mobile app and a browser extension. The mobile app has already garnered over 10 million downloads and an impressive 4.7-star rating based on 250,000 reviews.
MetaMask App
The browser extension, which supports Google Chrome, Brave, Firefox, Edge, Safari, and Opera, has been downloaded by over 10 million users. MetaMask is praised for its ease of use, secure storage, and ability to buy, send, receive, and exchange digital assets.
MetaMask Browser Wallet
On the other hand, Trezor is a hardware wallet that was founded in 2013 by Satoshi Labs. With over 1 million Trezor Wallet users, Trezor has established itself as a trusted name in the industry.
Trezor Website
Trezor offers a secure way to store Bitcoin and other cryptocurrencies offline, providing users with a "cold wallet" solution. This means that users' private keys are stored offline on a hardware device, offering enhanced security against potential hacks or online threats.
Trezor supports over 1,000 different cryptocurrencies and provides a user-friendly interface for managing and interacting with these assets. The wallet is available in two models: Trezor Model One and Trezor Model T.
Trezor Model T & One
The Trezor Suite, available as a desktop, browser, and mobile app, complements the hardware wallet by offering additional functionalities like buying, selling, sending, and receiving cryptocurrencies.
Trezor Suite
Trezor Suite has received tens of thousands of downloads and offers a seamless user experience across different platforms.
MetaMask vs Trezor User Experience
MetaMask is a popular browser and mobile wallet that allows users to easily manage their digital assets. It offers a seamless user experience with improvements in usability and design. The wallet integrates easily with Dapps that allow for lending, trading, and buying, making it convenient for users.
MetaMask Portfolio View
MetaMask supports multiple blockchains and offers a portfolio view where users can access all the features. It is easy to set up, requiring users to download the wallet and either create or import a wallet. The wallet also ensures security by providing users with a 12/24-word seed phrase for account recovery.
MetaMask Blockchains & Cryptocurrencies
Overall, MetaMask is a well-designed wallet that offers a great user experience and a range of features.
Trezor is a hardware wallet that provides a secure way to store and manage digital assets. It has a simple interface that makes it easy for users to navigate and manage their assets.
Trezor offers two models, Model One and Model T, both of which have a compact design with a monochrome display and physical buttons for navigation.
Trezor Model One
Model One is the more affordable option, priced at $69. Model T offers a wider range of features such as a touchscreen and support for over 1456 cryptocurrencies, but with a higher price tag of $219. Both wallets have solid ratings on Amazon.
Trezor Model T
Trezor's products, including its website, desktop and mobile apps, and hardware wallets, are well-designed and offer a great user experience. Trezor ensures security by providing users with multiple seed phrases and supports USB-C connections.
MetaMask vs Trezor Features
One of the key features of MetaMask is its ability to aggregate data from various decentralized exchanges (DEXs) such as Uniswap, Sushiswap, and 1Inch to ensure the best price with the lowest network fees. This makes token swaps convenient and cost-effective for MetaMask users.
MetaMask Swaps
However, note that MetaMask charges a swap fee of 0.875% for each transaction. MetaMask also supports NFT tokens on EVM-compatible blockchains like Ethereum and Polygon, allowing users to easily import and manage their NFTs within the wallet.
MetaMask NFTs
Additionally, MetaMask offers staking functionality on Ethereum and Polygon, enabling users to earn rewards on their assets. It's worth mentioning that the staking feature is not directly available in the browser wallet but can be accessed through the portfolio view.
For added convenience, MetaMask allows users to purchase cryptocurrencies via multiple payment methods such as credit/debit card, ACH, SEPA, and through third-party providers like PayPal and Apple Pay. Users can even withdraw fiat currencies directly from their MetaMask wallet.
MetaMask Buy Crypto With Fiat
Another notable feature is MetaMask's bridging functionality, which allows users to transfer their cryptocurrencies from one blockchain to another, albeit with a bridging fee of 0.875%.
Now let's turn our attention to Trezor. Trezor Wallet and Suite App provide users with a wide range of features for managing their digital assets.
Users can easily send and receive over 1,000 cryptocurrencies, track the value of their portfolios in a visually appealing interface, and buy or swap cryptocurrencies within the app. Although the exchange fees through third-party providers can be quite high ranging from 1.8% to 3.6%.
Trezor Suite Platform Support
While Trezor Wallet doesn't natively support Web 3 access, users can use third-party applications like Exodus wallet to access decentralized applications (DApps) while maintaining full control of their private keys.
Trezor Crypto Support
Staking and NFT support are also available through third-party integrations but not directly within the Trezor wallet itself. Trezor's Suite platform allows users to secure their digital assets with a hardware wallet and offers a comprehensive management system for various cryptocurrencies.
In terms of security, MetaMask is a non-custodial wallet that prioritizes user privacy and security. It ensures that the keys and assets are always locally stored on the user's device. Upon creating a new wallet, users are given a 12 or 24 word seed phrase and a password for login.
To further enhance its security, MetaMask has undergone multiple security audits by renowned firms such as Cure53 and Least Authority. The reports from these audits are made publicly available, demonstrating MetaMask's commitment to transparency.
In addition, MetaMask actively engages with the security research community through its Bug Bounty Program, inviting external researchers to identify and report potential vulnerabilities.
And for those that already have a hardware wallet like Ledger, Trezor, Keystone or Lattice, they can connect it to MetaMask seamlessly.
MetaMask Ledger & Trezor Integration
On the other hand, Trezor is an offline hardware wallet that ensures the protection of users' assets and identity by removing online access to data. Trezor wallets never expose users' digital asset information to the internet unless requested by the users themselves.
Trezor vs Online Exchanges
The software used in Trezor devices is open-source, allowing for full auditability and continuous improvements by its community of over 200 developers. Trezor wallets offer several security measures to protect users' funds.
Users can set a PIN, which is used to unlock the device, and the PIN mechanism is protected against key-loggers. Trezor wallets also allow users to set a passphrase for account recovery, further enhancing security.
Trezor Secure Day One
The wallet's secure from day one policy ensures that data is deleted or anonymized after 90 days, and all models arrive without any firmware. These measures contribute to Trezor's reputation as one of the most secure hardware wallet options for cryptocurrency storage.
MetaMask vs Trezor Conclusion
After analyzing the data provided, it is evident that each wallet has its own unique advantages.
The key difference between MetaMask and Trezor is that one is a software wallet while they other one is a hardware wallet. While MetaMask is free to use and download via mobile and browser, Trezor has to be bought before users can get started.
While MetaMask is easier to get started with, it can never compete with the same security standards offered by a hardware wallet such as Trezor. Having said that, software wallets like MetaMask can be seen as complements to hardware wallets like Trezor as they can be connected to each other.
As such, MetaMask is popular software wallet that mainly focuses on EVM-based blockchains while Trezor is a hardware wallet that allows for storage and access for many more blockchains such as Bitcoin, Ethereum, Solana, Cosmos, Polkadot, Cardano and many many more.
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
