You don’t necessarily need a wallet to store fiat currencies like Rial. You can use a credit card, or simply fold a bill and put it in your pocket. But the story of digital currencies is very different. To store digital currencies, you will definitely need a special digital wallet.
Since it is difficult to keep digital assets safe, the wallet you use to store your digital currency must be secure enough to give you full ownership of your assets. One of the best and most popular options for storing digital currencies is the Metamask wallet. However, Metamask only supports Ethereum and Ethereum Virtual Machine compatible blockchains. Therefore, it is not a bad idea to get acquainted with some alternatives to the Metamsk wallet so that we can store other digital currencies as well.
Read more: Comprehensive guide to digital wallets: Bitcoin, Ethereum and other cryptocurrencies
In this article, we take a look at some of the best Metamesh wallet alternatives and examine the distinctive features of each, with the help of an article from the CoinGeek website. These wallets include TrustWallet, MyEtherWallet, SafePal, Coin98, XDify, FrameWallet, and BlockWallet. To learn more about the best Metamask alternative wallets, follow our digital currency article.
The content of this article is purely educational and should not be considered as financial advice or advice. For any choice, especially choosing a wallet in the cryptocurrency space, be sure to do your own thorough research.
The importance of choosing the best wallet
Creating a digital wallet is not a special task. Even by opening an account in centralized exchanges, you become the owner of a digital currency wallet. However, centralized exchanges keep the private key to access your assets and are so-called custodial. In such a situation, you do not have full ownership of your assets.
Read more: What are escrow wallets and non-escrow wallets and what are their differences?
The most ideal way to store digital currencies is to choose a non-custodial wallet, that is, a wallet whose private key you have in your hand. Most of the top software and hardware wallets provide users with the private keys of assets. One of the best software wallets is Metamask wallet.
What is Metamask?
The blockchain software development company Consensys released the MetaMask software wallet in 2016. This wallet is supported by prominent Consensus developers and is considered one of the best options for storing digital currencies based on the Ethereum blockchain and its second layer networks. Metamask also supports independent blockchains such as Fantom and BNB Smart Chain that are compatible with the Ethereum Virtual Machine (EVM).
Read more: Complete training of Metamsk wallet
This software wallet is a gateway to Ethereum-based decentralized applications and provides easy access to digital assets. In addition to providing user-friendly software versions for mobile phones, Metamask wallet is also available as a browser extension for different browsers. Metamsk application download statistics indicate that more than 30 million digital currency traders and investors have welcomed the Metamsk wallet.
However, in early 2023, it was revealed that Consensus’ API provider infrastructure was collecting users’ IP and wallet addresses during transactions. In response to the publication of this news, the discussion about the level of privacy of Metamsk users was raised, and some traders and investors went to other Metamsk alternatives to have better protection of their personal data. In addition to these cases, the issue of supporting the storage of blockchain assets other than Ethereum-based networks has also occupied the minds of users.
Therefore, it is better to get acquainted with some non-trusted alternatives to the Metamsk wallet. In the following, we mention 7 cases of wallets that allow people to make transactions in different blockchains with their simple and user-friendly interface.
Read more: Best cryptocurrency wallets in 2023
1. SafePol wallet
SafePal’s all-in-one option offers hardware, software, and browser plug-in solutions. According to SafePal’s support team, the platform serves more than 8 million users worldwide and supports tokens and tokens from 55 different blockchains.
The SafePol hardware wallet is secure, impenetrable and offline and does not connect to Bluetooth, Wi-Fi, NFC or other radio frequencies. In this way, the user’s private key is kept in complete security. This wallet communicates with the SafePal application only through an encrypted QR code and has an anti-tampering and self-cleaning mechanism. Also, the private key of SafePal users is generated by a random number generator.
Read more: Safe Pal wallet training
It is good to know that this wallet supports 15 living languages of the world. SafePol is a small and compact wallet (about the size of a credit card) that can be easily carried. In this way, the management of digital assets becomes very easy and accessible for users.
SafePol currency exchange features
With a simple and 100% decentralized environment, the SafePal mobile application provides various in-app benefits, some of which include the following:
- Cross-chain exchange with leading centralized exchanges and decentralized exchanges for user convenience and getting the best exchange rate.
- Automatic increase of returns and compound interest of investments
- Cross-chain gas conversion and the ability to use fiat currencies
- Benefiting from “Learn and Earn” campaigns with SafePal ecosystem partners under Giftbox
Also, SafePal is constantly updating the different versions of its app. These security measures are in place to combat scams involving tokens, domains, NFTs, and more. In addition, users can connect the SafePal hardware wallet to their browser extension and mobile wallet for more advanced security.
The SafePal team has also launched the native SEP token, which is an efficient part of the wallet’s ecosystem. This token is based on the BEP20 standard and works on the Binance smart chain. Users can use the SEP token for a discount on the purchase of SafePal products. Interchain gas conversion and rewarding the holders of this token in educational programs are some other uses of the SEP token.
2. Trust Wallet wallet
Thanks to the connection with the Binance exchange, Trust Wallet is one of the largest wallets, which ranks shoulder to shoulder with Metamask among the best digital wallets in the world.
The TrustWallet wallet was launched by Viktor Radchenko in 2017, and Binance bought the rights to this wallet in 2018. A significant part of the technological advancements and adoption of the TrustWallet wallet comes from Binance’s support for this wallet.
Read more: TrustWallet Software Wallet Full Review and Tutorial
Based on data from browser plug-ins and mobile apps, TrustWallet has a large user base of over 25 million traders and investors. This wallet also launched its special token named TWT in 2020, which attracted the attention of the trustwallet user community and market traders.
TrustWallet presents itself as an easy and safe payment intermediary by facilitating daily digital currency transactions compared to hardware wallets. This wallet also supports the storage and exchange of non-monogamous tokens.
TrustWallet is a multi-chain wallet that is compatible with multiple blockchains in different modes. From blockchains that provide digital payment solutions to enterprise networks that provide smart contracts, TrustWallet is the basis for the transactions of 65 blockchains and more than one million coins and tokens.
TrustWallet also provides a payment gateway for decentralized applications through a built-in browser and WalletConnect feature. This wallet also includes additional features such as staking services. The TrustWallet ecosystem includes decentralized app browsing and integration with centralized exchanges.
Read more: Changing currencies in Trust Wallet
3. My wallet
MyEtherWallet, or MEW for short, claims to be the original Ethereum wallet. MyEtherWalt was launched in 2015 by Taylor Monahan and Kosala Hemachandra.
Since its launch, this wallet has maintained its support for the Ethereum blockchain and provides its users with various asset maintenance services based on this network. These assets include Ether, ERC20 tokens, asynchronous tokens, and others related to decentralized Ethereum blockchain applications.
The MyEtroWallet mobile app has been downloaded over 500,000 times on the Google Play Store by more than 3 million users. This wallet allows users to access decentralized application platforms through MEWConnect.
Read more: What are the best cryptocurrency wallet trackers?
Also, people can exchange their assets cross-chain between supported wallet networks at the most competitive rate through MyEtherWallet. In addition, the possibility of converting Ether to Euro or Swiss Franc is provided in this application. Due to the development of ethereum virtual machine based networks, MyEtherWallet has introduced another multi-chain wallet called Enkrypt.
Encrypt Wallet supports all Ethereum, Bitcoin, Polkadot, and Substreet blockchains compatible with the virtual machine. Also, Encrypt browser extension is available for most popular browsers.
4. Coin98 wallet
According to Coin98 wallet team, more than 2 million transactions have been done through this wallet so far. The Coin98 platform has been downloaded over 500,000 times since its launch in 2021. Data from Coin98’s official website claims that more than 400,000 cryptocurrency investors in more than 150 countries are users of this wallet.
Coin98 wallet is a versatile platform for DeFi applications. This wallet is available to users in the form of mobile applications and browser extensions and supports different assets on 26 different blockchains.
Coin98 users can store their digital assets or exchange them between Coin98-compatible chains using the wallet’s built-in exchange feature. In addition to this, Coin98 wallet users have the ability to connect to other decentralized applications.
Read more: What is a smart contract wallet?
Users of this wallet can also benefit from a new user referral reward program called X-Point. For performing certain activities using the wallet, they earn Xpoints, which they can redeem and convert into money at the Coin98 store.
5. XD wallet
Since the launch of the XDEFI wallet in 2021, the platform has continuously grown in terms of number of users. Currently, more than 150,000 cryptocurrency traders and investors use the XDify wallet.
XDF is a multi-chain, multi-asset wallet with native support for more than 16 blockchain networks, including Bitcoin, Ethereum, Polygon, Turchin and Solana. The XDify wallet also supports non-homogeneous tokens and even offers special features such as in-wallet NFT detection capabilities and display of non-homogeneous token images on various blockchain networks that are exclusively designed for NFTs.
XDify also allows you to transfer your assets via exchange wallets or cross-chain bridges without connecting to third-party decentralized exchanges. According to the developers of XDify, this wallet allows users to easily move their assets between multiple networks and have fewer restrictions in managing assets on different blockchains.
Emile Dubie, the CEO of XDify wallet, in an interview with the online magazine Crypto Current, referring to the problems of user experience in other wallets, considered these challenges as one of the main reasons for launching XDify. According to Dubai, XDFi is moving towards optimizing the experience of investors in managing assets on various blockchain networks.
XDify wallet can be installed and used as a browser extension. Currently, more than 100,000 downloads have been registered for the Chrome XDefy browser.
6. Frame wallet wallet
Frame Wallet works based on Web3 and is mainly designed to enable interaction with decentralized applications and manage digital assets on these platforms. Like Metamask, this wallet covers Ethereum virtual machine based networks. Also, the user interface of FrameWallet is considered as a play between user accounts in blockchains and various decentralized applications. The good news for users who prefer to store their digital assets offline is that FrameWallet is compatible with hardware wallets.
Read more: What are the best cryptocurrency hardware wallets?
Just like Metamask wallet, Framewallet users can use any network based on Ethereum virtual machine through this wallet. FrameWallet also supports non-homogeneous tokens and the non-homogeneous token interface of this wallet also acts as a gallery to collect NFT artworks.
Simultaneous activity in different networks
It should be noted that Frame Wallet’s special routing architecture, called Omnichain, allows decentralized applications to route various requests on any accessible blockchain network as needed. In this way, FrameWallet users can be online on all their desired blockchains at the same time. This feature enables simultaneous activity in different networks in an integrated manner.
Frame Wallet can be used as an application on Windows, Linux and Mac operating systems. Also, FrameWallet browser extension is available for Chrome and Firefox browsers. It goes without saying that the source code of the FrameWallet wallet is available to users and developers in an open source form.
Currently, there is no specific and definitive data about the number of active users of FrameWallet. However, the Chrome browser extension has been downloaded 8,000 times, and the Firefox extension has about 560 users.
7. Blockwallet wallet
BlockWallet is a digital currency wallet based on the security and privacy of users. This wallet protects users’ IPs and transaction data through a VPN-like protocol.
BlockWallet is secured against hacks and internet attacks with the help of anti-phishing feature. These attacks are carried out by encouraging users to click on infected links on decentralized platforms.
Apart from security and privacy protection features, BlockWallet also allows cryptocurrency investors to manage their assets while searching for the best Web3 opportunities. Like Metamask, Blockwallet supports all Ethereum virtual machine based networks.
Read more: What is a dead crypto wallet and is there a way to recover it?
Users can find new ethereum virtual machine-based chains on their wallet by entering the details and data of each network or by using the network search, just like Metamask, and use their services with the help of blockwallet. This wallet allows its users to easily move between integrated networks.
Blockwallet plugin
Blockwallet is available as a wallet extension for Chrome and Brio browsers. The browser extension of this wallet has been downloaded more than 7,000 times. Digital currency investors can connect to decentralized applications with the help of Blockwallet plugin.
This wallet offers built-in decentralized applications such as bridges and various exchanges. Blockwallet built-in applications guarantee the exchange of assets between different networks without leaving the wallets. Other features of this wallet include a built-in tracker for gas fees, unique phishing protection and transaction manipulation prevention.
It should be noted that the blockwallet token named BLANK also strengthens the financial aspect of the blockwallet ecosystem and offers more rewards and privileges to the holders of this token. By keeping the blank token, people can enjoy services such as fee discounts and early access to the new features of BlockWallet.
You can see an overview of the wallets that we mentioned in this article and their features in the image below:
Conclusion
Although Metamask is still a popular choice for Ethereum-compatible blockchains and the Ethereum Virtual Machine, the diverse cryptocurrency landscape requires diverse options. From TrustWallet’s impressive growth and multi-chain support, to MyEtherWallet’s ongoing commitment to Ethereum and its innovative encryption solution, there are multiple options to meet different user preferences.
Coin98’s versatile DiFi platform and XDiFi’s unique capabilities for non-coin tokens have provided more options for traders and investors. Also, FrameWallet’s web-based approach and BlockWallet’s emphasis on security and privacy also reflect the evolving nature of digital currency wallets to meet needs that take on new forms every day.
Undoubtedly, the digital currency wallet space is constantly evolving and each wallet offers its users a unique set of features and capabilities. With the expansion of the digital currency ecosystem, people active in this industry can expect more innovation and competition, and finally, benefit from a wider range of options that suit their needs.
Finally, we must mention that no matter what wallet you choose, the most important thing is to make sure you have enough information about keeping your data and assets safe. Also, don’t forget to always keep your private keys safe and avoid storing them online as much as possible.
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