Trust Wallet vs Coinbase | Why These Are Both Great Wallets
Jack Moreau
Feb 2024
8 min read
Fact checked
Introduction: When it comes to safeguarding your digital assets, choosing the best cryptocurrency wallet is paramount. In this comprehensive comparison, we've assessed Trust Wallet vs Coinbase Wallet across a multitude of factors including blockchain and cryptocurrency support, distinctive features, hardware wallet compatibility, security measures, and much more!
Trust Wallet is a decentralized multi-asset wallet that was founded in 2017 by Ukrainian entrepreneur Viktor Radchenko.
The wallet was initially created to store Ethereum (ERC-20) tokens like ETH but soon caught the attention of Binance, who acquired the company behind Trust Wallet in 2018.
Trust Wallet Website
Today, Trust Wallet is based in San Francisco and has grown to a team of over 220 employees distributed around the world. Trust Wallet is an open-source non-custodial wallet, which means that users have full control over their private keys and funds.
Trust Wallet is widely regarded as one of the fastest-growing wallets in the world, with an astonishing 60 million users across their mobile and browser wallets. This popularity can be attributed to the wallet's support for over 70 blockchains and an incredible 10 million digital assets.
Trust Wallet Blockchains
Trust Wallet allows users to store, manage, and exchange cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Bitcoin Cash (BCH), Ether Classic (ETC), Litecoin (LTC), and hundreds of thousands of altcoins and ERC20 tokens.
The Trust Wallet mobile app has already been downloaded over 10 million times and has an excellent 4.5-star rating based on 1.7 million user reviews.
Trust Wallet App
On Chrome browsers, Trust Wallet has accumulated over 500,000 downloads with a 4-star rating based on over 500 reviews. This high rating is a testament to the trust and satisfaction that users have in the wallet's performance and features.
Moving on to Coinbase Wallet, this non-custodial cryptocurrency wallet was launched by Coinbase in 2018. Coinbase Wallet allows users to manage their cryptocurrencies in a private and secure manner.
Coinbase Wallet Website
Like Trust Wallet, Coinbase Wallet is also an open-source wallet, giving users full control and custody of their assets. Coinbase Wallet offers support for Ethereum-based blockchains like Ethereum and Avalanche, as well as Bitcoin, Litecoin, Solana and Dogecoin.
This allows users to easily connect to various DeFi Dapps on these blockchains, such as Avee, Compound, and Uniswap. The wallet was initially released as a mobile app for iOS and Android, quickly growing in popularity.
In fact, Coinbase Wallet has achieved over 5 million downloads across Android and iOS, with a 4-star rating based on over 60,000 user reviews.
Coinbase Wallet App
In 2019, Coinbase also released its web browser extension, expanding the wallet's availability and accessibility. The Coinbase Wallet browser extension has accumulated over 1 million
Trust Wallet vs Coinbase Wallet User Experience
Trust Wallet is a non-custodial wallet that offers a user-friendly interface, making it easy for users of all experience levels to navigate the app.
Trust Wallet is available on Android and iOS devices and supports more blockchains and features compared to the browser version. Trust Wallet provides a seamless experience for users who want to access various blockchains and features.
Trust Wallet Browser Extension
It offers support for Chrome, Brave, Opera, and Edge, giving users the flexibility to choose the browser they prefer. However, Trust Wallet lacks a desktop version, limiting users to mobile devices.
Trust Wallet Supported Browsers
On the other hand, Coinbase Wallet is a sleek and modern-looking wallet that allows users to buy, sell, trade, and store their tokens and NFTs.
Coinbase Wallet Browser
It is a free and easy-to-use wallet for managing digital assets on multiple blockchains such as Ethereum, Polygon, Avalanche, Arbitrum, Optimism, Base, and Solana.
Coinbase Wallet Cryptocurrencies
Coinbase Wallet is supported on Google Chrome, Mozilla Firefox, Microsoft Edge, Brave, and Opera Browser. It allows users to manage a wide range of digital assets and provides a simple way to access DeFi platforms like Uniswap and Aave directly through the browser.
Trust Wallet vs Coinbase Wallet Features
Trust Wallet offers users a wide range of products and services all within the app. One of the key features is the ability to swap assets supported by multiple third-party DeFi integrations such as Thorchain, Kyber Network, and 1inch.
Trust Wallet Swaps
Trust Wallet charges a 1% swap fee in addition to third-party exchange fees. This allows users to easily and natively swap Bitcoin (BTC) to Ethereum (ETH) with low spreads and without using wrapped assets.
Trust Wallet also features a built-in web3 browser, allowing users to access decentralized applications directly from the mobile app.
Trust Wallet Dapps
Additionally, Trust Wallet supports NFTs on several blockchains including Ethereum, Solana, and Polygon, allowing users to store, manage, and transfer their NFTs.
Trust Wallet NFTs
For those looking to earn yield on their digital assets, Trust Wallet supports staking for over 20 cryptocurrencies including BNB, ATOM, LUNA, OSMO, ALGO, and Tezos.
Trust Wallet Staking
Trust Wallet also offers integrated fiat-to-crypto purchases via Binance Pay and Coinbase Pay, making it easy for users to buy cryptocurrencies with fiat currencies.
Trust Wallet Credit Card
Trust Wallet even offers integration with tax software company Koinly for users that need help with their tax filing. Overall, Trust Wallet provides a comprehensive set of features and services for cryptocurrency users.
Coinbase Wallet also offers users the ability to swap between assets. These swap services are possible via integrations with third-party decentralized exchanges in the backend.
Coinbase Wallet Dapps
Coinbase charges a flat fee of 1% on all swaps, in addition to the network fee paid to the validators. Coinbase Wallet supports swaps for coins based on Ethereum, BSC, Avalanche, Polygon, and the Solana Blockchain.
Additionally, Coinbase Wallet is an open-source wallet that supports NFTs on Ethereum and Polygon. Users can store and manage their NFTs, view their collections, and easily transfer them to other wallets or marketplaces.
Coinbase Wallet NFTs
Staking is also supported within the wallet, allowing users to easily stake their ETH or MATIC and earn staking rewards. Coinbase Wallet also allows users to create multiple wallet addresses for different purposes.
For users looking to buy cryptocurrencies directly within the wallet with fiat currencies, Coinbase Wallet offers integration with Coinbase Pay, enabling seamless fiat-to-crypto purchases.
Trust Wallet is a non-custodial wallet that stores private keys in a decentralized manner across millions of devices. This means that users have full control over their assets but also have the responsibility of protecting their passwords and mnemonic seed phrases.
Trust Wallet enhances security through features such as two-factor authentication, robust backup solutions, and data encryption. It also offers additional security options for mobile users, such as Face or Touch ID.
Trust Wallet Ledger
Trust Wallet conducts regular audits by Stateful and offers bug bounties for identifying security issues.
Coinbase Wallet also ensures self-custody, giving users complete authority over their crypto assets and private keys. This means that even Coinbase itself cannot access the tokens or NFTs held within the wallet without the user's recovery phrase.
Coinbase Wallet USPs
Coinbase Wallet provides advanced security measures, including biometrics, security locks, and compatibility with Ledger hardware wallets.
Coinbase Wallet Ledger
It also offers transaction transparency through token approval alerts and transaction previews. Coinbase has a decentralized security audit and bug bounty solution called WEFUZZ.
The wallet actively guards against deceptive practices and allows users to report any suspicious tokens.
Coinbase Wallet Spam Protection
Furthermore, Coinbase Wallet supports multiple Ethereum and Solana addresses, making it convenient for users who maintain separate web3 identities and asset pools.
Trust Wallet vs Coinbase Wallet Conclusion
In conclusion, Trust Wallet stands out with its support for over 70 blockchains and an impressive 10 million digital assets.
With a user-friendly interface and availability on mobile and browser platforms, Trust Wallet offers a seamless experience for accessing various blockchains. It also supports popular browsers like Chrome, Brave, Opera, and Edge, providing flexibility to users.
On the other hand, Coinbase Wallet offers a visually appealing and well-designed interface with support for multiple blockchains.
Coinbase Wallet is compatible with popular browsers, making it accessible to a wider audience. However, it only supports Ethereum-based blockchains, Bitcoin, Litecoin, Solana and Dogecoin.
While both wallets are popular and fast growing, we currently have to give the edge to Trust Wallet as it offers more blockchains, cryptocurrencies, features and has a bigger user base.
Having said that, Coinbase Wallet does offer better and more modern design while being fully open source, which Trust Wallet is not.
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.
