Edge Wallet vs MetaMask: Which Is the Best Crypto Wallet?
8 min read
Introduction: When it comes to protecting your valuable digital assets, selecting the perfect cryptocurrency wallet is of utmost importance. That's why we've meticulously compared Edge Wallet and MetaMask across a range of essential factors like supported blockchains and cryptocurrencies, innovative features, compatibility with hardware wallets, security measures, and many more. With this comprehensive review, you'll have all the information you need to make a decision about which wallet suits your needs best!
Edge Wallet and MetaMask are two popular cryptocurrency wallets that offer users secure and convenient ways to store and manage their digital assets. While both wallets aim to provide a user-friendly experience, they have distinct features and functionalities that set them apart.
Edge Wallet, formerly known as Airbitz, was founded in 2014 by Paul Puey and Michael Merklin. It has raised over $10 million in funding from prominent investors such as Coinbase and DCG. With headquarters in San Diego, California, Edge Wallet employs a team of 25 dedicated professionals.
The Edge Wallet mobile app is available for both Android and iOS devices and has received over 1 million downloads. Users can buy, sell, and trade a variety of cryptocurrencies with a high level of security and privacy. The app supports leading cryptocurrencies and offers a wide selection of assets for trading.
Additionally, Edge Wallet integrates with over a dozen exchange partners, allowing users to buy and sell crypto using various payment methods across hundreds of countries. The mobile app fully encrypts all user data, ensuring the utmost protection.
MetaMask is a non-custodial software wallet developed by ConsenSys, a leading Ethereum-focused software development company founded in 2016. MetaMask is the most popular non-custodial software wallet worldwide, with over 30 million monthly active users.
The success of MetaMask has led ConsenSys to raise more than $450 million in venture capital to support the growth of its products. The MetaMask team currently consists of over 60 employees and welcomes contributions from developers worldwide.
MetaMask allows users to store, send, and receive Ethereum (ETH) and other ERC20 tokens. It seamlessly integrates with various Ethereum Virtual Machine (EVM)-based blockchains, including Ethereum, Avalanche, Polygon, Arbitrum, and many others.
MetaMask is available as a browser extension and mobile app, providing users with easy access to decentralized applications (DApps) and the ability to interact with these DApps directly from their browser.
The browser wallet is supported on popular browsers such as Google Chrome, Brave, Firefox, Edge, Safari, and Opera. The mobile app, released in 2020, has already garnered over 10 million downloads and received a stellar rating of 4.7 based on 250,000 reviews.
In conclusion, Edge Wallet and MetaMask share the objective of providing users with secure and efficient ways to manage their cryptocurrencies.
Edge Wallet vs MetaMask User Experience
When comparing Edge Wallet and MetaMask, it's important to consider various factors such as user experience, supported features, and compatibility.
Starting with Edge Wallet, it primarily caters to mobile users, offering a convenient and secure non-custodial wallet experience. Users can create an account with just a username, password, and 4-digit pin. The app also employs client-side encryption, automatic backup, and 2FA for added security.
However, it's worth noting that Edge Wallet is limited to mobile devices and lacks support for desktop and browser usage. Additionally, while it supports popular blockchains like Bitcoin, Ethereum, Solana, and Polkadot, it falls short in terms of supporting other ecosystems such as Cosmos.
Overall, Edge Wallet provides a decent wallet option but does not offer any standout innovative features.
In comparison, MetaMask stands out as a popular wallet choice that is available for both mobile and browser usage. To get started with MetaMask, users can easily download the wallet on their mobile or browser and create or import an existing wallet.
MetaMask has made significant improvements in usability and design, with its browser wallet offering a sleek portfolio view and integrated features for lending, trading, and buying cryptocurrencies within the app.
MetaMask also supports a wide range of blockchains, providing users with diverse options for managing their assets. It's important to note that MetaMask emphasizes the importance of security, requiring users to set a strong password and store a 12-word seed phrase to ensure account recovery.
Overall, MetaMask offers a user-friendly experience and a comprehensive set of features that meet the needs of both beginners and experienced users.
In conclusion, when comparing Edge Wallet and MetaMask, both wallets offer unique advantages. Edge Wallet provides a straightforward mobile wallet experience with a focus on non-custodial security and simplicity, while MetaMask excels in its versatility, offering options for both mobile and browser usage, a wide range of supported blockchains, and an improved user experience.
Edge Wallet vs MetaMask Features
Edge Wallet and MetaMask are two popular cryptocurrency wallets that offer a range of features and services to their users. Let's take a closer look at how these wallets compare.
Edge Wallet offers over 130 digital assets, including well-known cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Litecoin (LTC), and many others. Users can easily send and receive these assets within the wallet.
However, it's worth noting that the in-wallet exchange provided by Edge is not very intuitive, and users will have to pay a fee ranging from 0.5% to 2% for swaps. The wallet also supports lending and borrowing via the Avee integration, but it lacks support for many other DeFi app integrations and NFTs.
Edge Wallet provides the option for users from 179 countries to buy and sell cryptocurrencies with fiat currencies. However, the fees for these services can be quite high, ranging from 1.5% to 7%. This makes it more expensive compared to depositing fiat currencies on well-known exchanges.
Moving on to MetaMask, this wallet is a fully open-source cryptocurrency wallet that aggregates data from various decentralized exchanges (DEXs) such as Uniswap, Sushiswap, 1inch, and others to ensure the best price with the lowest network fees. Users can easily swap between cryptocurrencies, with a swap fee of 0.875% per transaction.
MetaMask also supports NFT tokens on Ethereum and Polygon. Users can import NFTs into MetaMask by copying the NFT's contract address and token ID from marketplaces like OpenSea.
Additionally, MetaMask allows users to stake their assets on both Ethereum and Polygon directly through the wallet, providing an opportunity to earn staking rewards.
In terms of buying cryptocurrencies, MetaMask now offers multiple payment methods such as Credit/Debit Card, ACH, SEPA, and integration with third-party providers like PayPal and Apple Pay.
Users can even withdraw fiat currencies directly from their MetaMask wallet. The wallet has also integrated a bridging functionality, allowing users to transfer their cryptocurrencies from one blockchain to another, albeit with a 0.875% bridging fee.
MetaMask supports hardware wallet integration, allowing users to connect their Ledger, Trezor, or Lattice wallets to enhance security. The wallet also provides a comprehensive view of market metrics, including price, volume, and market capitalization, assisting users in building their portfolios.
Edge Wallet and MetaMask are two popular non-custodial wallets in the cryptocurrency space that prioritize user privacy and security. Both wallets offer a range of features and adopt different approaches to ensure the safeguarding of users' assets and personal information.
First, let's delve into Edge Wallet. This wallet places a strong emphasis on user privacy and security through its zero-knowledge security architecture. The company does not require or possess any of the user's private data, ensuring that all data is encrypted client-side on the user's device before it reaches Edge's web servers. This encryption process protects against server-side breaches and malware, giving users full control over their cryptocurrency assets.
In addition to local encryption, Edge Wallet automatically backs up encrypted account data, allowing users to restore their assets on a new device using their credentials if their device is lost or compromised. The One-Touch 2-Factor Authentication (2FA) feature enhances security by limiting login access to previously authenticated devices.
Furthermore, Edge Wallet provides a password recovery option, enabling users to reset their passwords using recovery questions and an associated email address. These features collectively contribute to a robust security framework for Edge Wallet users.
In comparison, MetaMask also prioritizes the security of its users' assets. Like Edge Wallet, MetaMask utilizes a non-custodial approach, ensuring that private keys and assets are always locally stored on the users' devices. Users are provided with a 12-word seed phrase and a password for login authentication.
MetaMask's commitment to security is demonstrated through its engagement with the security research community, offering bug bounties and access to authenticated test environments for blockchain security specialists.
To enhance the security of its systems, MetaMask has subjected its libraries to multiple security audits by renowned firms, including Cure53 and Least Authority. These audits ensure that potential vulnerabilities are identified and addressed promptly.
MetaMask also encourages responsible behavior among its users, urging them to avoid any malicious actions that could compromise their security or the overall project.
While both wallets prioritize security, there are some differences in their approaches. Edge Wallet utilizes a zero-knowledge security architecture, encrypting data client-side and allowing users full control over their assets. On the other hand, MetaMask leverages security audits and bug bounties, engaging with the security research community to identify and mitigate potential vulnerabilities.
These different approaches reflect the wallets' respective philosophies and strategies in ensuring the security of user assets.
Edge Wallet vs MetaMask Conclusion
When comparing Edge Wallet and MetaMask, it is clear that both wallets have their own advantages in terms of support for cryptocurrencies, blockchains, and features.
Edge Wallet excels in its mobile-first approach, providing a straightforward and secure non-custodial wallet experience primarily for mobile users. It supports popular blockchains like Bitcoin, Ethereum, Solana, and Polkadot, and offers over 130 digital assets for users to manage.
The wallet also integrates with various exchange partners, allowing users to buy and sell crypto using different payment methods across different countries.
However, Edge Wallet is limited to mobile devices and lacks support for desktop and browser usage. It also falls short in terms of supporting other ecosystems such as Cosmos.
On the other hand, MetaMask stands out with its versatility and comprehensive feature set. It is available for both mobile and browser usage, providing users with easy access to decentralized applications (DApps) and the ability to interact with them directly from their browser.
MetaMask supports a wide range of blockchains, including Ethereum, Avalanche, and Polygon, among many others. The wallet also offers features for lending, trading, and buying cryptocurrencies within the app, making it a convenient all-in-one solution.
Furthermore, MetaMask emphasizes security with strong password requirements and the need to store a 12-word seed phrase for account recovery.
However, MetaMask has a more established and active open-source community, with contributions from developers worldwide.
In conclusion, when comparing Edge Wallet and MetaMask, both wallets have their advantages. Edge Wallet provides a straightforward mobile wallet experience with a focus on non-custodial security and simplicity, while MetaMask excels in versatility, offering options for both mobile and browser usage, a wide range of supported blockchains, and an improved user experience.
Ultimately, the choice between Edge Wallet and MetaMask depends on individual preferences and requirements.
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.