These days, you want a cryptocurrency wallet that not only allows you to store your crypto assets securely. But you also want additional features. For instance, you would want a wallet that gives you access to decentralized apps, helps you earn interest on your crypto, allows you to make payments easily, and so on.
Unfortunately, there are not too many such wallets available out there. But we do have Trust Wallet and Coinbase. So, the question is, which one is the best among these two?
We will find this out in our Trust Wallet vs. Coinbase wallet comparison.
What Is Trust Wallet?
Trust wallet is one of the most popular cryptocurrency wallets available out there. It is absolutely free to use, thanks to its open-source nature. It is also the official crypto wallet of Binance.
Using the wallet, you can send, receive, and store Bitcoin and a bunch of other coins in the simplest way. Plus, it supports more than 160 crypto assets.
In addition to that, Trust Wallet allows you to earn interest on your crypto. Plus, it comes with a Web3 browser built-in. So, you can play blockchain games or access decentralized games easily.
As well as it allows you to buy Bitcoins and other crypto coins within the app. Plus, thanks to its Uniswap and PancakeSwap support, you can trade directly within the wallet.
Trust Wallet Features
- It offers you a safe and secure way to store and manage all your crypto and digital assets.
- You get to earn interest on your crypto by staking them within the wallet.
- It comes integrated with Uniswap and PancakeSwap. So, you can trade directly within the app.
- Gives you access to decentralized finance platformsand decentralized apps. Plus, you will be able to play blockchain games.
- It keeps your private key secure with bank-level security.
What is Coinbase Wallet?
Coinbase wallet is also one of the top mobile crypto wallet solutions available out there. It comes with a Web3 Dapp browser and lets you send, receive, and store a bunch of cryptocurrencies and ERC20 tokens. The wallet also comes with a Web3 browser which gives you access to decentralized Apps powered by Ethereum smart contracts. Also, using the wallet, you will be able to send crypto payments to anyone pretty easily. Also, it allows you to backup your wallet’s private keys to Google Drive. So, you will always be able to recover your funds.
Coinbase is very beginner’s friendly, but if you’re looking to trade crypto, FTX exchange is a more popular choice. If you compare FTX with Coinbase exchange, FTX is much more used by advance traders who deal in crypto derivatives, options, and futures trading, whereas Coinbase is more commonly used by people who are getting started with their crypto journey.
Coinbase Wallet Features
- Within seconds, you can create new Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), and XRP wallets.
- By connecting the wallet to your Coinbase.com account, you can easily transfer your crypto to the wallet.
- You can see the current price of assets in your wallet in your local currency.
- You can browse Web3 DApps such as decentralized exchanges, social media, games & collectibles, jobs, marketplaces, crowdfunding, and more.
- Cryptographically sign your messages using your private key.
Trust Wallet vs. Coinbase Wallet: Which one should you use?
Trust Wallet vs. Coinbase Wallet: Security
In terms of security, Trust wallet offers you extensive security and user privacy. The wallet doesn’t really ask you to complete your KYC. Also, there is no need for you to store any data as it is a non-custodial wallet. Along with that, it has two-factor authentication in place. As a result, it will be tough for hackers to get into your wallet. Also, your wallet’s private key is stored on your mobile device and not on wallet services. Also, you are getting support for Face ID, Touch ID, passwords. So, you can add an additional layer of security.
On the other hand, Coinbase also has multiple security measures in place. It ensures the proper safety of your assets. Plus, it uses Secure Element Technology to store your private keys safely on your device. Along with that, you are also getting a bunch of authentication options like two-factor authentication. So, you can secure your wallet. Also, you can use your device’s security features like FaceID, PIN, or passwords to add an additional layer of security.
Trust Wallet vs. Coinbase: Accessibility
If we talk about accessibility, the Coinbase wallet is the better one. Why? Because apart from it’s a mobile app available for Android and iOS devices. It is also available for your desktop browser. In addition, it comes with a downloadable browser extension available for all the popular browsers like Google Chrome, Mozilla Firefox, and others. But on the other hand, there is no desktop support provided by Trust Wallet. As a result, if you ever feel a need to manage your funds via desktop, that won’t be possible. But in this case, the Coinbase wallet definitely comes in handy.
Trust Wallet vs. Coinbase Wallet: Which is easier to use?
Both the wallets are extremely easy to use. However, I personally like Trust Wallet more. Why? Because it gives you the ability to buy crypto within the wallet itself. As a result, there is no need for you to connect to a crypto exchange to buy crypto or add newer coins to your portfolio. But I don’t get to see such an option on the Coinbase wallet. Trust Wallet also makes it easy for you to swap and exchange your coins. So, you can earn interest on your crypto holdings. Plus, you will be able to connect with DeFi apps and collect NFTs.
Coinbase wallet, on the other hand, makes it super easy to store and manage your crypto. You can easily send or receive crypto. Overall, both of the wallets have a QR code scanner. So, you will easily pay in crypto or send your funds to other wallets.
Trust Wallet vs. Coinbase Wallet: User Interface
Both of the apps come with a simple user interface. Therefore, you would not really find it hard to use any of these two apps. Both of the apps have the send and receive tokens options on the homepage of the app. Also, there is a custom token button on the trust wallet that lists all the tokens available. But on the Coinbase wallet, you will need to tap on the send or receive button to select a crypto coin. But if you have funds in your wallet, it will display on the homepage just like the Trust wallet.
Both of the apps have a clean look. But Coinbase wallet has a QR code scan feature placed at the top-right. So it would be quicker for you to pay anyone. But in the trust wallet, to get the scan QR code feature, you have to tap on the coin name.
Trust Wallet vs. Coinbase Wallet: Fees
Trust Wallet is a free-to-use crypto wallet and doesn’t charge you anything. Even Trust Wallet has zero fees when you swap one crypto coin for another one on the in-app DEX or using the Dapp browser. Unlike other crypto wallets, it doesn’t charge you any transaction fees. But is it completely free? No.
Trust Wallet only charges a fee for the transaction processing on the app. However, this is demanded by the miners and the proof-of-stake chains. Apart from that, if there is a high usage of Bitcoin blockchain. Then it can charge up to $5 to $10 for each transaction.
On the other hand, the Coinbase wallet has a complex fee structure. Transaction fees apply on both Coinbase wallet and exchange. However, there are no fees for transactions between Coinbase wallets. But network fees may apply when transactions involve other wallets. Also, if you intend to trade on the platform, you will have to pay a fiat or variable fee. The variable fee depends completely on your payment method, location, and other modes. Also, the fee usually ranges from 1.49% to 3.99%.
Trust Wallet vs. Coinbase Wallet: Customer Support
Both of the wallets offer you good customer support. So, in case, if something goes wrong, it would be easy for you to reach customer support for any help. On one side, Trust Wallet offers its customer service via a ticket system. All you have to do is raise a ticket from their website, and they will help you out. Additionally, you can also contact them via Facebook, Twitter, Email, and other channels. The same goes with Coinbase wallet too. They provide you support through online customer support via phone, email, and Twitter. Simply go to their website and fill up their email support form, and they will respond to your query.
Trust Wallet vs. Coinbase Wallet: Pros and Cons
Trust Wallet Pros
● You will be able to earn interest in your crypto holdings through staking.
● Integrated with Uniswap and PancakeSwap.
● Supports both ERC20 and non ERC20 tokens.
● Has a web3 browser built-in.
Trust Wallet Cons
- It lacks desktop support.
Coinbase Wallet Pros
● Gives you access to more than 100 cryptocurrencies.
● Low minimum to fund account.
● Has desktop support.
Coinbase Wallet Cons
- Expensive fees compared to other wallets.
So that was all for Trust Wallet vs. Coinbase Wallet. Both of the crypto wallets are pretty much alike. So go through both of the apps, see what features they are offering and compare the fees. And then settle down with the wallet you like the most.