MetaMask vs Coinbase: How to Choose the Right Ethereum Wallet

Unsure which Ethereum wallet to choose? Check out this side-by-side comparison of MetaMask and Coinbase to see which one is right for you.

There are in fact a number of different cryptocurrency wallets available on the market, but two of the most popular are Metamask and Coinbase. But what are the differences between them? And which one is right for you? In this article, we’ll explore the pros and cons of each wallet to help you decide which is best for you.

What is MetaMask?

MetaMask makes you look at a browser extension that allows you to run Ethereum dapps in your browser without having to run a full Ethereum node.

MetaMask includes a secure identity vault, providing a user interface to manage your identities on different sites and sign blockchain transactions.

You can install the MetaMask add-on in Chrome, Firefox, Opera, and also the Linux-powered Brave.

MetaMask is currently available as a mobile app on Android and iOS.

With MetaMask, you can:

Access dapps in your browser without having to run a full Ethereum node

Securely store your private keys and sign blockchain transactions

Manage your identities on different sites

MetaMask, as already mentioned, is one of the most popular ways to access Ethereum dapps. If you’re new to Ethereum, MetaMask can help you get started by providing a simple way to run dapps in your browser.

What is Coinbase?

Coinbase is a digital currency exchange headquartered in San Francisco, California. They offer two distinct platforms: a Consumer platform and an Exchange platform.

The Consumer platform is designed to be easy to use and offers a streamlined interface. The Exchange platform is geared towards experienced traders and offers a more complex interface.

Both platforms allow users to buy and sell bitcoin, ether, and litecoin. Coinbase also allows users to store their bitcoins offline in what is known as a “vault.” Coinbase has been incredibly successful since its founding in 2012 and is now one of the most well-known bitcoin exchanges in operation.

Coinbase has been incredibly successful since its founding in 2012 and is now one of the most well-known bitcoin exchanges in operation. In addition to being a popular exchange, Coinbase is also a wallet provider.

This means that users can store their bitcoins on Coinbase’s servers, making it a convenient way to buy and sell bitcoins. Coinbase also offers a mobile app for Android and iOS, making it easy to send and receive bitcoins on the go.

Coinbase is one of the most popular bitcoin exchanges and wallets available today. If you’re looking to get started with buying or selling bitcoins, Coinbase is a great option.

What are the Differences Between MetaMask and Coinbase?

MetaMask Vs. Coinbase: The Concept

If you’re into cryptocurrency, then it is pretty evident that you’ve heard of MetaMask. MetaMask is a digital wallet that allows you to store, send, and receive Ether and other Ethereum-based tokens.

Coinbase, on the other hand, is a digital currency exchange that allows you to buy, sell, and trade cryptocurrencies. So, which one should you use?

MetaMask Vs. Coinbase: Usability

MetaMask is great for those who are new to cryptocurrency and want to experiment with buying, selling, and sending ETH and other ERC20 tokens.

MetaMask is also convenient if you just want to hold onto your ETH or tokens without having to go through the hassle of setting up a separate Ethereum wallet.
Coinbase, on the other hand, is better suited for those who are looking to actively trade cryptocurrencies. Coinbase also has a more user-friendly interface than MetaMask.

MetaMask Vs. Coinbase: Pros and Cons

Pros of Using MetaMask

• MetaMask is easy to use and set up.
• MetaMask provides good security for your ETH and tokens.
• MetaMask lets you access dapps on the Ethereum network.
• MetaMask has a built-in currency converter.
• MetaMask is available as a browser extension and as a mobile app.

Cons of Using MetaMask

• MetaMask is a hot wallet, which means it is less secure than a cold wallet.
• MetaMask has been known to have issues with certain browsers and websites.
• MetaMask has a limited number of dapps that it supports.
• MetaMask fees can be high when sending ETH or tokens.
• MetaMask is not available in all countries.

Pros of Using Coinbase

• Coinbase reflects the most user-friendly exchanges in operation today. The website and app are both well designed and easy to use. This makes Coinbase a very good choice for those who are new to cryptocurrency trading.
• Coinbase offers a high level of security. All funds are stored in offline wallets, and the company is insured against hacking. In addition, all transactions are monitored by advanced cryptographic technologies.
• Coinbase seamlessly allows you to buy and even sell cryptocurrencies at market prices or through limited orders. This gives you more flow of control over your trades than on some other exchanges.
• Coinbase has a good reputation and is one of the most trusted exchanges in operation today.

Cons of Using Coinbase

• Coinbase, until this point, has been known to be one of the most expensive exchanges to use. Trading fees can be as high as 3.99%.
• Coinbase has been accused of being biased towards Bitcoin. Some users have complained that the exchange favors Bitcoin over other cryptocurrencies.
• Coinbase has been slow to add new coins and tokens to its platform. This can make it difficult to trade certain altcoins.
• Coinbase has been known to be one of the most restrictive exchanges in operation. This eventually plays a critical role in making it difficult to withdraw your funds or to use certain features.

MetaMask Vs. Coinbase: Verdict

So, which one is better for you? The answer to this query is subjective. It really depends on the set of requirements you’re after.

The calculation is simple, if you’re just starting out with cryptocurrency, then MetaMask might be the better option for you. If you’re looking to actively trade cryptocurrencies, then Coinbase might be the better option.

Wrapping Up

With MetaMask, you’re looking at a digital wallet that allows you to store and use Ethereum-based tokens. It’s also an identity vault, meaning that it stores your personal information so that you don’t have to provide it every time you want to sign in to a dApp.

Coinbase is a digital currency exchange where you can buy or sell Bitcoin, Ethereum, and Litecoin. You can also use Coinbase to store your cryptocurrencies in a wallet on the site.

So, which one should you choose? If you want to use Ether and other Ethereum-based tokens, MetaMask is the way to go. If you’re willing to buy or sell Bitcoin, Ethereum, or Litecoin, Coinbase is the better option. Read the entire piece to understand each and every factor that places both in different boxes.