Introduction: Are you struggling to choose between Phantom Wallet and MetaMask for storing your digital assets? Our in-depth comparison has got you covered! We've looked at everything from user experience to supported platforms and the range of cryptocurrencies available, so you can make an informed decision!
Phantom vs MetaMask: Overview
If you're looking for a reliable cryptocurrency wallet, both Phantom and MetaMask are excellent choices. Phantom is a newcomer, having been founded in 2021 in San Francisco with a team of 60 employees. Despite being relatively new, it has already gained over 2 million users and 500,000 downloads on Android with a 3.7-star rating and over 2,000 reviews. The browser extension has also received over 2 million downloads and a 4.2-star rating with over 500 reviews.
Phantom Wallet
On the other hand, MetaMask has been around since 2016 and has a team of 60 employees. It boasts an impressive 30 million users and 10 million downloads on Android, with a 4.4-star rating and over 200,000 reviews. While its browser extension has over 10 million downloads, it has a slightly lower rating of 3.2 stars with 3,000 reviews.
Phantom Wallet offers a sleek and intuitive interface making it easy for users to manage their assets in the Solana ecosystem. As a non-custodial wallet, it prioritizes the security of its users and is available on Chrome, Brave, Firefox, and Edge browsers. While Phantom Wallet is not available for desktop download, its mobile app has garnered over 2 million users with a 3.7 star rating and over 2,000 reviews on Android.
Meanwhile, MetaMask's straightforward and unchanging interface for EVM-based blockchains is supported on a variety of browsers, including Chrome, Firefox, Brave, Edge, and Opera. Also a non-custodial wallet, MetaMask has over 30 million users and 10 million downloads on Android, with a 4.4 star rating and over 200,000 reviews. However, like Phantom Wallet, it is not available for desktop download.
Having used Phantom Wallet and MetaMask, I find that Phantom offers a faster and more intuitive user experience. From the moment you open the wallet, you can see that the design and interface are geared towards simplicity and ease of use. With the Phantom wallet having recently expanded to Ethereum and Polygon, it will be interesting to see how many MetaMask users will migrate over.
Phantom vs MetaMask: Product Features
One of the most notable features of both wallets is the ability to perform swaps. Both wallets allow users to swap between cryptocurrencies using popular DeFi exchanges like Uniswap and Sushiswap on MetaMask and Jupiter on Phantom. While MetaMask charges a swap fee of 0.875%, Phantom charges a slightly lower fee of 0.85%.
MetaMask also recently integrated staking support via Lido Finance and Rocket Pool. This integration allows users to earn staking rewards by staking ETH in their MetaMask wallet
Staking with MetaMask via Lido & Rocket Pool
Phantom vs MetaMask: Cryptocurrencies
Phantom Wallet is a great options for anyone looking for a user-friendly, secure wallet to store SPL tokens on the Solana Blockchain. SPL tokens such as SOL, RAY, and MNGO, as well as popular stablecoins like USDT, USDC, and USDH can be easily managed with Phantom.
Ethereum & Polygon coming to Phantom Wallet
MetaMask on the other hand is an EVM-focused wallet that supports several different ecosystems including Ethereum, Avalanche, Polygon, and Fantom. With MetaMask, users can access and manage a wide range of tokens associated with these ecosystems, such as ETH, AVAX, FTM and MATIC.
Phantom vs MetaMask: Security
While Phantom is not open source, it has been audited by Kudelski Security and offers bug bounties of up to $50,000. The team behind Phantom is actively working on new solutions to help block phishing sites and improve overall security. Furthermore, Phantom offers hardware integration with Trezor and Ledger wallets which provides users with an extra layer of security for their assets.
In contrast, MetaMask is fully open source and has been audited by Least Authority. The wallet also runs a bug bounty program through HackerOne and includes enhanced protection against scams. What sets MetaMask apart is its excellent support for hardware wallets. It is one of the best wallets in the market when it comes to integrating hardware wallets, with support for Ledger, Trezor, Airgap, Keystone, and Lattice. This makes it a great option for users who prioritize security and want multiple hardware options to choose from.
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.
