This article is sponsored by SafePal.
Cryptocurrency wallets help investors to keep custody of their assets and easily spend them. An example is the MetaMask wallet, developed by Consensys.
However, as MetaMask only supports Ethereum and EVM-compatible chains, there is a need for alternative wallets to store other cryptocurrencies.
Some MetaMask alternatives include Trust Wallet, Atomic Wallet, MyEtherWallet, SafePal, Coin98, XDeFi, Frame Wallet, and BlockWallet.
These MetaMask alternatives may also have certain extra features that may come in handy for users, such as SafePal’s crypto wallet suite spanning across hardware, software, and browser extension wallet solutions.
Storing fiat currencies doesn’t necessarily require a wallet; you could use a credit card or shove them in your pocket. Well, cryptocurrencies are very different, and to hold cryptocurrencies, you most certainly need a wallet.
Cryptocurrency wallets include your account on centralized exchanges, where the centralized exchange holds the keys to your crypto. However, when storing cryptocurrency, you should ideally opt for a wallet where you are own the private key that grants access to your crypto. These options include non-custodial software wallets and hardware wallets which store your private keys offline.
In this article, we’ll look at non-custodial software wallets, which connect to the blockchain network to present users’ balances and transactions in a simplified interface, allowing them to transact cryptocurrencies while on the move. Some wallets are designed with extra features to help investors manage their assets. Depending on your needs, crypto wallets can support only one blockchain at a time (like MetaMask) or multiple blockchain networks simultaneously.
What is MetaMask?
Released in 2016 by Consensys, MetaMask enjoys support from notable Ethereum developers. MetaMask is a cryptocurrency wallet that supports Ethereum, its Layer 2 networks, and standalone EVM blockchains, such as Fantom and BNB Smart Chain. MetaMask allows you to use any EVM network of your choice by adding a few set-up parameters.
MetaMask presents a gateway to decentralized applications while allowing easy access to crypto assets. The MetaMask wallet is available for computers through the browser extension and can be installed on mobile devices as an application. Statistics from application downloads suggest that over 30 million cryptocurrency investors use the MetaMask wallet.
However, MetaMask’s plan to start collecting users’ IP addresses hasn’t really gone down well with investors. Some investors have started looking for alternatives that offer better protection of their personal data, or simply one that better suits their needs, such as supporting storage of assets held across multiple blockchains.
Now, let’s take a look at eight alternatives to MetaMask.
SafePal: Comprehensive Crypto Wallet Suite
The SafePal wallet is a comprehensive crypto wallet suite offering hardware and software wallet solutions, as well as a browser extension. According to the team, the SafePal platform serves more than 8 million users across the globe and supports 55 blockchains, along with their tokens and NFTs.
The hardware wallet is 100% air-gapped and offline, with no Bluetooth, WiFi, NFC, or other radio frequencies to keep your private key offline and secure. It only communicates with the SafePal App through an encrypted QR code. It has an anti-tamper, self-erasing mechanism with a true random number generator for the private key. The SafePal hardware wallet also supports 15 languages and 54 chains, and its compact size (the size of a credit card) makes it easy for users to manage their crypto on the go.
On the SafePal mobile app, you can manage your crypto assets and access dApps on a 100% decentralized cellphone environment. Additional benefits include:
In-app cross-chain swaps with leading CEXes and DEXes for the best rates and convenience
In-app yield boosting and auto-compounding staking feature
In-app cross-chain gas converter and on-ramp solution
In-app Giftbox Learn and Earn campaigns with whitelisted ecosystem partners.
There are also additional security features that are constantly being updated with each version upgrade to help combat malicious or scam NFTs, tokens, domains, and more.
You can also link your SafePal hardware and mobile wallet to the browser extension for advanced security. As part of the SafePal ecosystem, the team has also released SFP, a decentralized BEP-20 token. SFP can be used to purchase SafePal products at a discount, converted to gas across chains in the app, and reward token holders through education programs.
Trust Wallet: Over 25 Million Users Worldwide
Trust Wallet is one of the largest wallets alongside MetaMask, perhaps thanks to its relationship with Binance. This relationship has aided its growth in terms of adoption and technological advancement.
Trust Wallet was launched in 2017 by DApps Platforms. Since this time, it has garnered a user base of over 25 million cryptocurrency investors, according to provided data across browser extensions and mobile extensions. Following the Trust Wallet token launch in 2020, its community consists of application users and asset-price speculators.
Trust Wallet claims to be a secure medium for storing crypto assets, simplifying routine transactions involving cryptocurrencies relative to hardware wallets. It also supports NFTs, where NFT holders can store and transact their NFTs from their Trust Wallet.
Trust Wallet is a multi-chain wallet that supports different cryptocurrency networks with markedly different modes of operation, from payment solution blockchains to enterprise-level smart contract blockchains. As of January 2023, it is reported to support 65 blockchains and over a million coins and tokens.
Trust Wallet also provides a gateway to decentralized applications through an in-built browser and the WalletConnect feature. It also includes additional features like staking programs, where crypto holders can stake their cryptocurrencies to earn crypto while securing the blockchain. The Trust Wallet ecosystem also consists of a decentralized application browser and centralized exchange integrations.
MyEtherWallet (MEW) and Enkrypt: Gateway to the Ethereum Blockchain
MyEtherWallet claims to be the original Ethereum wallet. MEW was launched in 2015 by Taylor Monahan and Kosala Hemachandra. Since its launch, the wallet has maintained its support for the Ethereum blockchain and offered its users asset custody services. The original MEW wallet supports ETH and ERC-20 tokens, NFTs, and decentralized applications.
The mobile application has recorded over 500,000 downloads on the Google Play Store with over 3 million total users. MEW, through the MEWConnect, allows users to access decentralized application platforms from their wallets. The swap feature also facilitates asset exchange from the wallet interface. MEW swap supports the cross-chain exchange of assets, where users can swap their crypto assets across supported networks from the MEW wallet at competitive rates, and even cash out their Ether for Euros or Swiss Francs.
In light of the proliferation of the EVM network, MEW has introduced its multi-chain wallet – Enkrypt. Enkrypt supports all Ethereum-based EVM chains, Bitcoin, Polkadot, and Substrate chains and is available as a browser extension on most popular browsers.
Coin98 Wallet: The DeFi Platform
Coin98 claims that over 2 million transactions have been executed via its wallet. The cryptocurrency wallet has also been downloaded over 500,000 times since its launch in 2021. Data from the official website claims that over 400,000 cryptocurrency investors use the wallet in over 150 countries.
Coin98 is an all-in-one DeFi platform, and its suite of products includes a wallet for storing cryptocurrency assets. The crypto wallet is available as a mobile wallet and browser extension for desktop devices. It is a multi-chain and multi-asset wallet supporting over 26 blockchain networks.
Users can store their crypto assets in the wallet and use the in-wallet exchange feature to swap their holdings across supported chains. Coin98 wallets also enable connection to other decentralized applications.
Users also enjoy extra rewards through the X-point reward program, such as referring new users. Through the reward program, users earn points for performing certain activities using the wallet, earning X-points which can be redeemed for gifts in the Coin98 store.
XDEFI Wallet: “Built for NFT” Features
XDEFI is a multi-chain, multi-asset wallet with native support for over 16 blockchain networks, including Bitcoin, Ethereum, Polygon, Thorchain, and Solana. XDEFI wallet also supports NFTs, even featuring “built for NFT” features, such as in-wallet NFT detection capabilities and grid gallery display for collectibles across chains.
XDEFI also lets you swap and bridge assets from your wallet without connecting to external decentralized exchanges. According to the developers, the XDEFI wallet allows users to navigate between different networks easily and manage their assets with fewer restrictions.
In an interview with Crypto Current, XDEFI wallet CEO noted UX (user experience) issues as one of the major inspirations for founding XDEFI. According to him, XDEFI will move to optimize investors’ experience with managing assets they own across different blockchain networks.
XDEFI wallet can be installed as a browser extension. Over 100,000 downloads are currently recorded on the Chrome web store.
Frame Wallet: Enabling Users To Be “On” All Their Chains Simultaneously
Frame Wallet is web3-centric and designed mainly to enable interaction with decentralized applications and managing crypto assets while on these platforms. Like MetaMask, Frame embraces EVM networks and presents an interface that complements the relationship between individual blockchain accounts and decentralized applications. Frame is also compatible with hardware wallets for users who prefer cold wallets.
Frame users can install any EVM network they choose on their wallet, just like the MetaMask wallet. NFT support is also available on Frame, and the NFT interface can also serve as a gallery for NFT art collectors. Frame’s routing architecture, Omnichain, allows dApps to route requests to any of a user’s available chains as needed, letting users be “on” all of their chains simultaneously, making operating across multiple chains seamless.
Frame can be installed as an application on Windows, Linux, and macOS operating systems, and the Frame wallet companion browser extension is available for Chrome and Firefox browsers. The Frame wallet code is open source.
While user statistics for the Frame wallet are currently not verifiable, the Chrome extension has been downloaded 8,000 times, while over 560 Firefox extension users are recorded.
BlockWallet: Dedicated Security and Privacy Features
BlockWallet is a cryptocurrency wallet emphasizing security, claiming to protect user privacy through a designed VPN-like protocol that keeps users’ IP addresses from the internet. Through the anti-phishing feature, BlockWallet claims to safeguard users’ wallets from getting hacked through malicious links that users can encounter when they visit decentralized platforms.
Beyond its extra security and privacy features, BlockWallet allows cryptocurrency investors to manage their assets while exploring web3 opportunities. Like MetaMask, BlockWallet supports every EVM network. Users can install new and existing EVM chains on their wallets by entering the network details as done on MetaMask or by using network search, allowing users to switch between integrated networks easily.
BlockWallet is available as a wallet extension for Chrome and Brave browser. Over 7,000 downloads have been recorded on the Chrome Web store.
Through the extension, cryptocurrency investors can connect to decentralized applications. Block wallet has built-in decentralized applications like asset bridges and exchanges. The built-in applications ensure that users can swap their assets and move their assets to other supported networks without leaving their wallets. Additional features include an inbuilt gas tracker, phishing protection via unique artwork, and flashbot protection to protect against front-running bots.
The BlockWallet token (BLANK) powers the financial aspect of the BlockWallet ecosystem and offers extra rewards and privileges to its holders, from fee discounts to first-access to new functionalities.
Summary of Wallet Features
You probably fell in love with MetaMask for some very good reasons. The sleek design, the interface, topped with the freedom to perform many tweaks and the ease of adding new EVM networks to your wallet. Security and developer integrity might have influenced your decision as well, and it is no doubt that MetaMask appeals to a wide number of users.
Cryptocurrency wallets, especially mobile wallets, are constantly evolving to meet the needs of everyday cryptocurrency investors. These MetaMask alternatives hope to grow a user base through features like support for multiple EVM and diverse blockchain networks while adding more features that support web3, decentralized finance, and ease of use.
Regardless of whichever wallet you are using, it is important to ensure that you have sufficient information about how they keep your data and holdings secure. Always remember to keep your seed phrase secure and never online, as this recovery phrase grants access to your crypto assets.
Finally, note that this content is only for educational purposes and no part was meant to be financial advice. As a standard, always do your own research before investing in cryptocurrency or using any cryptocurrency storage solution.
An earlier version of this article listed Atomic Wallet.
Joel is deeply interested in the technologies behind cryptocurrencies and blockchain networks. In his over 7 years of involvement in the space, he helps startups build a stronger internet presence through written content. He is the founder of CryptocurrencyScripts. Follow the author on Twitter @agboifesinachi