Phantom vs MetaMask | Why Phantom Is The Better Wallet
Jack Moreau
Feb 2024
10 min read
Fact checked
Introduction: Are you struggling to choose between Phantom Wallet vs MetaMask for storing your digital assets? Our in-depth comparison has got you covered! We've looked at everything from user experience to supported platforms and the range of cryptocurrencies available, so you can make an informed decision!
If you're looking for a reliable cryptocurrency wallet, both Phantom and MetaMask are excellent choices.
Phantom is a newcomer to the wallet space having been founded in 2021 in San Francisco with a small team of 60 employees. The team managed to quickly grow on the Solana blockchain before raising a monster plus $100 million investment round from investors like A16Z.
Phantom Wallet Website
Despite being relatively new, it has already gained over 2 million users and 500,000 downloads on Android with a 3.7-star rating and over 2,000 reviews.
Phantom Wallet Android App
For those that would prefer to use the Phantom wallet on their browser, the browser extension has also received over 2 million downloads and a 4.2-star rating with over 500 reviews. Phantom wallet is currently available on Chrome, Brave, Firefox and Edge Browser.
Phantom browser wallet support
On the other hand, MetaMask has been around since 2016 and has a team of 60 employees. It boasts an impressive 30 million users and 10 million downloads on Android, with a 4.4-star rating and over 200,000 reviews.
MetaMask Wallet
While its browser extension has over 10 million downloads, it has a slightly lower rating of 3.2 stars with 3,000 reviews.
MetaMask app
Phantom vs MetaMask: User Experience
Phantom Wallet offers a sleek and intuitive interface making it easy for users to manage their assets in the Solana ecosystem. As a non-custodial wallet, it prioritises the security of its users and is available on Chrome, Brave, Firefox, and Edge browsers.
Phantom wallet features
While Phantom Wallet is not available for desktop download, its available on browser and it's mobile app has garnered over 2 million users with a 3.7 star rating and over 2,000 reviews on Android.
The user experience of Phantom is great on both browser and mobile as it provides a dead simple and intuitive way to navigate the blockchain ecosystems of Solana, Ethereum and Polygon.
Meanwhile, MetaMask's straightforward and unchanging interface for EVM-based blockchains is supported on a variety of browsers, including Chrome, Firefox, Brave, Edge, and Opera.
Also a non-custodial wallet, MetaMask has over 30 million users and 10 million downloads on Android, with a 4.4 star rating and over 200,000 reviews. However, like Phantom Wallet, it is not available for desktop download.
Having used both Phantom Wallet and MetaMask, I find that Phantom offers a faster and more intuitive user experience. From the moment you open the wallet, you can see that the design and interface are geared towards simplicity and ease of use.
One different between the wallets in terms of user experience is that MetaMask also offers a portfolio view while Phantom does not. This means that all the action on Phantom have to been taken inside the smaller browser wallet space while MetaMask users can choose a more extensive view.
MetaMask portfolio view
With the Phantom wallet having recently expanded to Ethereum and Polygon, it will be interesting to see how many MetaMask users will migrate over.
Phantom vs MetaMask: Product Features
One of the most notable features of both Phantom and MetaMask is the wide range of features that they offer their users.
To begin with, both wallets allow users to swap between cryptocurrencies using popular DeFi exchanges like Uniswap and Sushiswap on MetaMask and Jupiter on Phantom.
Phantom Wallet Swaps & Staking
This allows their users to seamlessly swap between their digital assets holding or to buy and sell assets directly from the wallet themselves. In terms of swap exchange fees, MetaMask charges a swap fee of 0.875% while Phantom charges a slightly lower fee of 0.85%.
Swap crypto on MetaMask
Besides swaping, both Phantom and MetaMask allow for staking of cryptocurrencies directly within their wallets as MetaMask also recently integrated staking support via Lido Finance and Rocket Pool. This integration allows users to earn staking rewards by staking ETH in their MetaMask wallet.
Metamask Staking
For users who are big fans of NFTs and digital collectibles, once more, both wallets will satisfy your needs with safe storage and beautiful displays.
Phantom Wallet NFT collections
Users on Phantom can see their NFTs displayed in the wallet while MetaMask users have access to their NFTs both in the browser wallet and in the portfolio view.
Phantom Wallet is a great options for anyone looking for a user-friendly, secure wallet to store SPL tokens on the Solana Blockchain.
SPL tokens such as SOL, RAY, and MNGO, as well as popular stablecoins like USDT, USDC, and USDH can be easily managed with Phantom.
Phantom also recently added support for the Ethereum and the Polygon blockchain which means that all assets on these two blockchains are now supported in the wallet.
MetaMask on the other hand is an EVM-focused wallet that supports several different ecosystems including Ethereum, Avalanche, Polygon, and Fantom.
With MetaMask, users can access and manage a wide range of tokens associated with these ecosystems, such as ETH, AVAX, FTM and MATIC.
Swapping between the 1000s of assets available across the EVM-landscape can easily be done within the MetaMask wallet.
Phantom vs MetaMask: Security
While Phantom is not open source, it has been audited by Kudelski Security and offers bug bounties of up to $50,000.
Phantom Wallet Security
The team behind Phantom is actively working on new solutions to help block phishing sites and improve overall security. Furthermore, Phantom offers hardware integration with Trezor and Ledger wallets which provides users with an extra layer of security for their assets.
Phantom Wallet Support
In contrast, MetaMask is fully open source and has been audited by Least Authority. The wallet also runs a bug bounty program through HackerOne and includes enhanced protection against scams.
What sets MetaMask apart is its excellent support for hardware wallets. It is one of the best wallets in the market when it comes to integrating hardware wallets, with support for Ledger, Trezor, Airgap, Keystone, and Lattice. This makes it a great option for users who prioritize security and want multiple hardware options to choose from.
MetaMask hardware wallet support
Phantom vs MetaMask: Conclusion
Phantom Wallet and MetaMask, while both providing great features and capacities, cater to distinct facets of the cryptocurrency ecosystem.
Phantom has showcased rapid growth especially in the Solana ecosystem with it's user-centric design and modern interface.
With its sleek design and simple navigation, Phantom shines in delivering a seamless experience on both browser and mobile platforms.
Additionally, its recent expansion to support Ethereum and Polygon tokens amplifies its versatility.
The security of Phantom is also commendable with audits by Kudelski Security and the provision of hardware integrations with Trezor and Ledger.
MetaMask with its longstanding presence since 2016 has carved out a robust reputation in the wallet domain.
It excels in offering a consistent user experience across various EVM-based blockchains and has a significantly larger user base than Phantom.
MetaMask's portfolio view offers a more expansive insight into users assets, contrasting with Phantom's more contained browser wallet view.
Its unwavering focus on Ethereum and EVM-compatible blockchains ensures a wide range of token accessibility across all EVM ecosystems.
Being open source with audits by Least Authority, MetaMask displays its commitment to transparency and security.
Furthermore, its unparalleled hardware wallet integration, spanning multiple brands, positions it as a vanguard for users who lean heavily into security.
So while Phantom impresses with its modern design, swift adoption, and emphasis on expanding to more blockchain ecosystems, MetaMask stands tall with its established reputation, EVM-centric approach, and extensive hardware wallet support.
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.
