Coinbase vs MetaMask: Which one should you use?

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Many new coins are emerging and each has a unique set of values and characteristics. As more and more people invest in these digital assets, more and more jurisdictions are beginning to tap into their vast potential. 

Regardless of the type of investment, cryptoinvestors should always take steps to protect their cryptocurrency assets. Namely, they can protect their cryptocurrencies using a number of different strategies, such as locking them in a digital wallet for protection.

We are going to compare two cryptocurrency wallets from well-known cryptocurrency brands in this article. Well, just one is Coinbase, an established company that offers many cryptocurrency-related services, including cryptocurrency wallets. 

The other is a brand that specializes in cryptocurrency wallets, and its wallet is one of the most trusted. The Metamask is the name of the brand. Let us compare both wallets in terms of features, statistics and other factors. By reading this article, you will see the main characteristics of both wallets and be able to decide which one best meets your requirements.

Coinbase wallet vs Metamask are two of the most popular Web 3 wallets in the world. Both cryptocurrency wallets allow users to seamlessly interact with Metaverse applications created on the blockchain using DeFi, GameFi, and NFT.

So how do you decide which one is better? We recommend reading this review.

Coinbase vs MetaMask: Features

Both wallets MetaMask vs Coinbase, according to their features, have demonstrated progress in security, usability, and compatibility of crypto-assets over the past few years.

Metamask has evolved from a secondary wallet for major browsers to one of the most commonly used wallets on the Ethereum network.

Coinbase has moved to improve the security and privacy aspects. Overall, both are a top choice for many crypto-asset investors. In many ways, they have become the best wallets in the DeFi world.

Below we will focus on the main features of Metamask wallet vs Coinbase wallet and compare them to help you decide: Coinbase vs Metamask wallet – which wallet is better?

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What is Coinbase Wallet?

Those interested in buying bitcoin, ether, ripple and other cryptocurrencies may want to consider Coinbase, a licensed exchange where you can buy and sell many different cryptocurrencies.

It was previously known as Toshi, a decentralized application browser that had already gained popularity in the field. 

Coinbase: Jump Start Your Crypto Portfolio

Coinbase has been around since 2012 and is the oldest cryptocurrency broker that is currently one of the most popular along with Bithumb and Binance: Coinbase has over 35 million clients from more than 100 countries.

One of the main advantages of Coinbase is the ease of registration and the platform itself, which allows even those who have never encountered cryptocurrencies before to trade on it. The platform offers a variety of payment methods, including bank cards and transfer.

Coinbase: Pros & Cons

ProsСons
Coinbase operates independently of the corresponding platform. You can only make one transaction at a time
Customers using the Android app can buy cryptocurrencies directly through their wallet.
Keys are stored online and all transactions are performed online. 
This type of wallet is especially suitable for beginners because of its ease of management.
Coinbase wallet also works as a mobile app. 
The security measures against hacking are well thought out.

What is MetaMask Wallet?

MetaMask is an easy-to-use Ethereum browser with centralized validation, which means there is no need to download the blockchain, but you can still get the same features as with the Mist wallet, such as interacting with Ethereum-enabled websites. 

Many new coins are emerging and each has a unique set of values and characteristics. As more and more people invest in these digital assets, more and more jurisdictions are beginning to tap into their vast potential. 
Metamask: A Crypto wallet & gateway to blockchain apps

MetaMask requires no login and does not store your private keys on any server, instead they are stored in Chrome and password protected.

MetaMask: Pros & Cons

ProsСons
The app allows you to store and exchange cryptocurrencies in most web browsers. stores your private keys on your computer or device
Ability to restore Metamask wallet on any computer in case of a problem.
Metamask is also compatible with iOS and Android.
Metamask can work as both a hot and cold wallet. 
It can be connected to a hardware wallet such as the Ledger Nano. 
To connect a hardware wallet to Metamask, simply click on the round symbol at the top of the extension window.  

Coinbase vs MetaMask: Currencies

At the moment, the Coinbase wallet supports only a few cryptocurrencies. 

You can use it as a BTC wallet or store the following cryptocurrencies:

  • LTC
  • DOGE
  • Stellar Lumens
  • Ripple
  • BTC-cash
  • Ethereum
  • Ethereum Classic
  • ERC-20 tokens

Choosing a Metamask or Coinbase wallet is a guarantee of long-term storage of crypto assets without the risk of hacking. In general, these wallets are basically the same when it comes to security.

Read more:  Trust Wallet vs Metamask: Which one should you use?

Since OpenSea is one of the most well-known NFT markets, the privilege of connecting to your wallet may change your choice. Opensea does not support Coinbase in any way, so Metamask is a better choice if you are dealing with the OpenSea platform.

Coinbase vs MetaMask: Fees

The Metamask wallet is free to download. You can find three wallet browser extensions on the official wallet page.

As for transaction Metamask vs Coinbase wallet fees, there are three options: 

  • slow 
  • medium
  • fast

You can choose one of these options depending on how fast you want to complete the transaction. Metamask also allows you to set your fees, which you can set by clicking “Advanced Options. Keep in mind that setting fees too low can prevent you from completing a transaction.

Coinbase commissions are not the cheapest on the market. However, the Coinbase app and wallet updates are free to download from both Google Play and the AppStore. Opening a wallet is also free. However, the wallet does charge a fee for transactions, including sending, buying, and receiving, as compensation for its services.

Commissions range from 1.49% to 3.99% of the transaction amount. They vary depending on the cryptocurrency and the current market situation.

Coinbase vs MetaMask: Customer Support

The Coinbase application does not directly offer customer support. If you have questions, scroll down to your profile and click “Contact Us”. You’ll be taken directly to the “Wallet” section of the Coinbase help page.

See if the information offered will help solve your problems. If not, click the “Question Mark” at the bottom of the screen to open a chat. You are communicating with a robot that only speaks English.

Metamask support is available through the “Support” section of the menu on their Metamask.io website. Once you click the “Start Chat” button, you will be connected to support.

Coinbase vs MetaMask: Reputation and Trust

When it comes to reputation and trust, Coinbase wallet vs MetaMask wallets are quite different. 

Coinbase is a centralized exchange that stores users’ private keys on their behalf, which means they are responsible for the security of the funds. 

Read more:  5 Best Crypto Hot Wallets
Many new coins are emerging and each has a unique set of values and characteristics. As more and more people invest in these digital assets, more and more jurisdictions are beginning to tap into their vast potential. 
Coinbase: The Most Trusted Cryptocurrency platform

MetaMask, on the other hand, is a decentralized wallet that stores private keys locally on users’ devices, giving them full control over their funds.

Many new coins are emerging and each has a unique set of values and characteristics. As more and more people invest in these digital assets, more and more jurisdictions are beginning to tap into their vast potential. 
Metamask: Support

While both wallets offer robust security measures such as two-factor authentication and start phrases, the decentralized nature of MetaMask makes it more secure if the centralized exchange is hacked. However, it also means that users are more responsible for the safety of their funds. Ultimately, the choice between Coinbase and MetaMask depends on users’ preferences and risk tolerance.

Coinbase vs MetaMask: User Experience

Coinbase has a more intuitive user interface, making it a good choice for beginners. In contrast, metamask’s interface may be more complex for newcomers, but its browser extension format is more convenient for those who use decentralized applications. In addition, metamask’s interface is very easy to customize, which may be attractive to users who value personalization. Overall, the choice between Metamask wallet vs Coinbase depends on individual preferences for ease of use and customization.

Coinbase vs MetaMask: Mobile App

It’s a different kind of wallet. Metamask is a free, open-source wallet that works through a browser extension. Coinbase Wallet, on the other hand, works through a mobile app and charges a small fee per transaction.

Coinbase Wallet offers a more user-friendly interface and provides a higher level of security than Metamask.

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Coinbase vs MetaMask: Deposit and withdrawal methods

If you have ETH or other tokens that you want to exchange into fiat currency, you will have to do so on an exchange, as MetaMask does not provide such a service. This means sending the tokens manually to the exchange platform of your choice.

To withdraw your funds, log into your Coinbase trading account and click the Withdraw button next to the corresponding cryptocurrency in the Balances section. A window will appear asking how much you want to withdraw and where you want the funds to go.

Coinbase Commerce is currently a cryptocurrency-only service, meaning you cannot link your bank account directly to your trading account. You can withdraw any cryptocurrency you have directly into a linked Coinbase account. From there, you can convert the cryptocurrency into cash and withdraw the funds to the linked bank account.

Conclusion

We hope this detailed comparison of Metamask and Coinbase wallets will help you decide which one is better for you. Each type of wallet we have described has its advantages and disadvantages. Knowing all of these features will allow you to determine which one is best for each of your needs.

Coinbase has a more intuitive user interface, making it a good choice for beginners. In contrast, metamask’s interface may be more complex for newcomers, but its browser extension format is more convenient for those who use decentralized applications. In addition, metamask’s interface is very easy to customize, which may be attractive to users who value personalization. Overall, the choice between Coinbase and MetaMask depends on individual preferences for ease of use and customization.

It is always your choice, but you can conclude that Metamask wallet is better compared to Coinbase because it is connected to more blockchains, offers lower fees, and is more secure. While Coinbase wallet has been around for a long time, Metamask has been around since about 2016, which makes it the most battle-tested Wallet in Web 3.

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