MetaMask is a crypto wallet and a gateway to interact with blockchain applications. It also works as a browser extension which means that users can access their Ethereum wallets through browsers. This way, they can use the wallet to interact with other decentralized apps. MetaMask offers benefits like storing and managing accounts keys, sending and receiving cryptocurrencies and tokens, and transmitting transactions.
MetaMask started its operations in 2016 under ConsenSys, a blockchain software technology company that mainly operates from Brooklyn, Washington, and San Francisco. Before 2019, MetaMask only worked as a browser extension for Chrome and Firefox. Later, however, following beta testing, MetaMask officially released its mobile app version for iOS and Android in 2020.
From having 5 million monthly active users to 21 million in just six months, MetaMask has seen substantial growth over time. Its features and quality product and services have made MetaMask a world-leading crypto wallet. As MetaMask operates in what is known as a significant future industry, it always has to tackle competition in every manner.
There are a lot of companies trying to get on the peak. Given below is a list of the top ten competitors and alternatives of MetaMask:
1. Coinbase Wallet
Coinbase Wallet is one of the easiest ways to buy and sell cryptocurrency and undoubtedly is a great competitor of MetaMask. Like MetaMask, Coinbase Wallet allows users to control their crypto through keys. As of 2021, Coinbase Wallet has more than 70 million active users and operates in more than 100 countries which are way bigger than MetaMask.
It started its operations in 2012 with the idea of simplifying the ways of buying and selling bitcoins and other cryptocurrencies. The wallet has a unique function that allows users to keep their crypto assets in one place. Although MetaMask is rapidly growing, Coinbase Wallet remains one of the most trusted wallets in the industry.
2. Trust Wallet
Trust Wallet is the official wallet of Binance Coin. Like MetaMask, users can store, send and receive cryptocurrencies with this wallet. Trust wallet is one of the fastest and safest wallets allowed in the market. Users can even play blockchain games and enjoy the latest popular decentralized apps and finance platforms through Trust Wallet.
Trust Wallet mobile app is used globally by more than 10 million users. The app is available for Android and iOS mobile devices, and similarly to MetaMask, users can also access their wallets from their desktop through the mobile app. For users dealing in Binance Coin, Trust Wallet provides the best features on the market.
3. MyEtherWallet
MyEtherWallet is a client-side interface that helps users access and interacts with Ethereum Blockchain free of charge. It was founded in 2015 by Taylor Manahan and Kosala Hemachandra and currently operates from Los Angeles, California.
MyEtherWallet helps users to store Ethereum and other similar tokens. It happens because MyEtherWallet serves as a better-secured wallet than MetaMask or any other wallet. Not only that, users can easily swap tokens on Ethereum Blockchain through the app. These features make this platform one of the best alternatives to MetaMask.
4. 1inch Wallet
1Inch Wallet got developed by Anton Bukov and his team. It is a fast and secure crypto wallet, and like MetaMask, helps store, send and receive Ethereum and other cryptocurrencies. The easy to go wallet allows users to access the well-known decentralized finance market. Similarly, it also offers a user-friendly light and portable mobile application.
1Inch wallet currently includes more than 70 protocols and 19 billion dollars in liquidity and mainly supports two networks. These include Ethereum and Binance Coin. Similarly, its mobile application is available for iOS but not Android. However, the team plans to launch an Android version soon and has mentioned this on their official website.
5. Exodus Wallet
Exodus is one of the best options for people who are just beginning to invest and trade cryptocurrencies. The Exodus Wallet has a straightforward and inviting interface. Similarly, it slowly teaches users to handle and exchange cryptocurrencies in smaller amounts without confusion and hassle.
Exodus Wallet is safer than MetaMask because it holds and stores all cryptocurrencies directly into users’ systems. Therefore, it gives users direct control over their crypto-asset all the time. Due to this crucial feature, more and more users are gaining confidence to trade cryptocurrency every day. The safety features on the platform help the platform attract more users.
6. MathWallet
MathWallet is a multi-chain wallet supporting more than 60 blockchains, including Bitcoin and Ethereum. It allows users to store and trade cryptocurrency and exchange tokens on decentralized apps. Similarly, it has features like creating multiple in-app wallets. It gets support from Binance Labs and some other groups of companies. Therefore, the company has successfully raised more than 19 million for its funding.
MathWallet currently has only 1.2 million active users compared with MetaMask, which stands strong at 21 million. The company also has launched a mobile app for iOS and Android users. MathWallet is still growing and is comparatively smaller than MetaMask. However, it can serve as a great alternative for MetaMask.
7. Fortmatic
Fortmatic is another user-friendly crypto wallet like MetaMask. However, MetaMask provides a browser extension, while Fortmatic uses a phone number or email address to connect to Ethereum-based applications. And because there is no need for any specific app or browser extension to use, it gets straightforward to interact with it compared to Metamask or any other crypto wallet.
On May 29, 2020, the founder of Fortmatic, Seal Li, renamed it Magic which fits well with their vision of making transactions easier by removing all unnecessary steps involved. The company is growing in size due to its unique and unprecedented methods. Currently, it poses a significant threat to MetaMask and other names in the industry.
8. Coin98
Another great Alternative for MetaMask is Coin98, a non-custodial wallet that protects and does not store user data. It means only a user can control their assets. The Coin98 mobile app also includes additional features like fingerprint protection, FaceID unlocks, password protection, etc.
It started its operations in 2017 and aimed towards improving the ecosystem of decentralized finance apps. Coin98 can provide the user with the best available price when swapping. Consequently, it can save a lot of money. Coin98 interacts and supports more than 20 blockchains, including Bitcoin, Ethereum, and many others. Thus, it gives a lot of variety from which users can choose.
9. Portis
Portis is another user-friendly crypto wallet that provides access to decentralized apps. Users can sign up to the platform using their email address and password to connect on any desktop or mobile. It makes Portis similar to Fortmatic or Magic. Portis has a no-cost barrier entry feature. Therefore, users can access it from any device using a password.
Portis does not require a browser extension or a specific app. This feature also makes it attractive to new users. Wallets like Portis and MetaMask fall under multi-chained wallets because they support other blockchain networks like Bitcoin, Ethereum, Binance, etc. Therefore, it is similar to MetMask and considered an alternative.
10. ZenGo Wallet
ZenGo is a crypto wallet that provides absolute freedom and control to its user, which means users remain in control of their crypto assets at all times. Similarly, the easy-going app can create an account for users in under a minute. ZenGo is a keyless crypto wallet that operates under the KZen Networks brand. The platform focuses on both convenience and security for users.
ZenGo Wallet started its operations in 2018 through Ouriel Ohayon in Israel. It offers users to go beyond passwords and numerical locks with facial biometrics. Similarly, it allows only the user to unlock their safe wallets. Because of its freedom and unique security option, ZenGo aims to become the go-to crypto wallet. Similarly, it wants to replace every competitor, including MetaMask.
Conclusion
MetaMask was just an ordinary browser extension when it first came out, but now it has over 21 million active monthly users. Blockchain is growing immensely day by day, and with every small growth, more and more wallets get introduced, increasing the competition for MetaMask. Some of MetaMask’s competitors and alternatives are listed above.
