How long does it take to transfer eth from coinspot to metamask

CoinSpot Wallet vs. MetaMask | Choose The Better Option

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This article compares two wallets that have little in common. These wallets are MetaMask and CoinSpot Wallet. MetaMask is a popular wallet for ERC tokens (although it is suitable for other tokens as well), and CoinSpot is a wallet automatically created for CoinSpot users. Despite having different specifics, people request a comparison between these wallets. In this article, we will show the main features and characteristics of these wallets so you can decide which wallet is the better choice considering your needs.

  1. What Is CoinSpot Wallet? 
  2. What Is MetaMask?
  3. CoinSpot vs. MetaMask (table)
  4. CoinSpot vs. MetaMask (details)

What Is CoinSpot Wallet? 

CoinSpot wallet is created automatically for the users of the CoinSpot exchange. The latter is an Australian crypto exchange. CoinSpot Wallet cannot even be downloaded from the exchange website. The wallet supports over 360 crypto assets and has an excellent and user-friendly design. 

We can’t say that CoinSpot Wallet is that multi-functional. Mainly, it has the basic functionality that allows users to send, receive, and store coins. As for extras, you can swap coins via the wallet. 

One of the essential features of the CoinSpot wallet is that it supports fiat money, namely, an Australian dollar (AUD). It makes the wallet especially convenient for Australian citizens/residents as they can use CoinSpot Wallet in many situations.

CoinSpot users can deposit fiat money in a handful of ways, including PayID, POLi, Direct Deposit, BPAY, and BlueShyft. Some of these payment methods are free, while others charge you a small commission.

What Is MetaMask?

MetaMask is a popular multi-currency crypto wallet created in 2016. Early on, it was suitable only for Ethereum-based tokens. However, it kept developing, and now it supports BNB chain tokens. Also, users can connect custom test blockchains.

Apart from the standard for crypto wallet mobile apps, MetaMask can be installed as a browser extension. MetaMask extensions exist for browsers like Chrome, Firefox, Brave, and Edge. MetaMask allows swapping tokens and supports NFTs and collectibles. Access to your wallet is safeguarded by a seed phrase. Beware of phishing and malware that can help hackers gain control over your funds in MetaMask. MetaMask is an HD-wallet. It helps to keep your transactions private. One of the most obvious drawbacks of this wallet is the lack of support for Bitcoin.

CoinSpot vs. MetaMask (table)

FactorCoinSpotMetaMaskPlatformsWindows, Mac, Linux, mobile appsbrowser extensions, mobile appsTypes of transactionsSend, receive, store, swap, buy, sellSend, receive, store, swap, buy, sell, stakeTransaction feesMiner feesMiner feesSupported currencies360+NFTs, ERC tokens, BNB chain tokens, BTC is not supportedSecurity features2fa, SMS verificationThe seed phrasePayment methodsPayID, POLi, Direct Deposit, BPAY, and BlueShyftWyre, Transak, and MoonPayCustodial?YesNoExtra featuresFiat money withdrawals/depositsStakingAccessglobalglobal

CoinSpot vs. MetaMask (details)

Platforms

MetaMask lacks a desktop client. That’s a drawback. CoinSpot Wallet offers wallets for three operational systems. On the other hand, MetaMask can be installed as a browser extension which is not the case for CoinSpot. So, by this parameter, we can’t say that one of the wallets is better. It depends on your needs and preferences.

Types of transactions

The sets of supported transaction types are nearly identical. If we concentrate on transaction types, we should admit that MetaMask supports the same transaction types as CoinSpot. However, the latter doesn’t allow users to earn via staking. On MetaMask, you can make money and participate in decision-making on the PoS-based platforms via staking. So it comes that MetaMask is a bit more comprehensive in terms of transaction types.

Transaction fees

Both CoinSpot and MetaMask don’t take anything on top of the miner fees paid for the transaction validation, which is a good thing. CoinSpot allows you to increase transaction speed via paying a bigger miner commission.

Supported currencies

MetaMask supports over 400 coins and a bunch of NFTs. CoinSpot wallet supports many currencies, too. The amount is smaller (below 400 as of July 2022), but CoinSpot supports Bitcoin, which is an essential advantage over MetaMask.

Security features

The users themselves secure MetaMask accounts. It’s up to you to come up with a strong password and keep your wallet off the phishing attempts and other hacker attacks. The seed phrase is set in order to preserve your access to your funds. That’s it. CoinSpot wallet is designed differently. You secure your account via 2fa and SMS verification tool. That’s the difference between custodial and non-custodial wallets. If you like to control your funds’ safety, then MetaMask will fit you better than CoinSpot. If you prefer to outsource funds protection to a wallet, you can choose CoinSpot.

Payment methods

Deposit methods offered by these wallets are different but equally accessible. By this parameter, we can’t single out any of these wallets as a better one.

Extra features

CoinSpot Wallet is just a piece of a crypto exchange, not a full-fledged modern multi-currency crypto wallet. Therefore, MetaMask is more versatile when it comes to the selection of extra features. CoinSpot, however, has a valuable feature that MetaMask lacks. CoinSpot wallet users can deposit and withdraw fiat money (AUD). If you need this feature more than staking, CoinSpot might be a better option than MetaMask.

Access 

Both wallets are available globally. However, CoinSpot is more suitable for Australian residents as the Australian dollar is a base fiat currency for the wallet. More than that, most payment methods are more familiar to Australian residents. However, it doesn’t make CoinSpot somewhat less universal than MetaMask in terms of geography.

 

About

Coinspot wallet is a special service provided by Coisnpot exchange. It provides a hot wallet for every coin its exchange is currently trading. Alongside with crypto, it also supports the Australian Dollar. Currently ,CoinSpot wallet has more than 60 coins and tokens. Built-in exchange is an additional feature of the wallet as well as 2FA for the additional security. The only language available is English.

MetaMask is an open-source multi-cryptocurrency wallet and a gateway to Ethereum-based decentralized applications. As the wallet is made for work with the Ethereum blockchain, it’s understood that it supports only Ether and ERC20 tokens. This wallet is designed to let users control their data and assets at the fullest and doesn’t store data and assets of its users. MetaMask is a mobile application but those who need a desktop version can use a MetaMask browser extension. It is available for Chrome, Brave, and Firefox browsers. 

Founding Date

2013

2016

Country

Australia

Switzerland

Languages

English

English

Wallet type

Software wallet

Software wallet

Storage type

Hot wallet

Hot wallet

Private keys

Not available

Available

Available coins

150- Bitcoin (BTC), Basic Attention Token (BAT), IOTA (MIOTA), Tezos (XTZ), Ethereum Classic (ETC), NEO (NEO), VeChain (VET), OmiseGO (OMG), Qtum (QTUM), Verge (XVG), Lisk (LSK), ICON (ICX), Ontology (ONT), Bitcoin Gold (BTG), Zcash (ZEC), Nano (NANO), Populous (PPT), Bytecoin (BCN), Steem (STEEM), Wanchain (WAN), Siacoin (SC), Dogecoin (DOGE), Waves (WAVES), Zilliqa (ZIL), Decred (DCR), Aeternity (AE), Status (SNT), 0x (ZRX), Loopring (LRC), Komodo (KMD), Aion (AION), Golem (GNT), Ardor (ARDR), IOST (IOST), DigiByte (DGB), Ark (ARK), Waltonchain (WTC), aelf (ELF), PIVX (PIVX), Factom (FCT), Dragonchain (DRGN), Substratum (SUB), Mithril (MITH), Syscoin (SYS), Gas (GAS), Elastos (ELA), Voyager Token (VGX), FunFair (FUN), Nxt (NXT), Nebulas (NAS), Nucleus Vision (NCASH), OByte (GBYTE), ReddCoin (RDD), Revain (REV), WAX (WAX), SALT (SALT), Electroneum (ETN), MaidSafeCoin (MAID), Power Ledger (POWR), Zcoin (XZC), Enigma (ENG), Storj (STORJ), TenX (PAY), Neblio (NEBL), Cindicator (CND), Skycoin (SKY), Horizen (ZEN), Civic (CVC), SingularityNET (AGI), POA Network (POA), Nexus (NXS), GameCredits (GAME), Dent (DENT), Vertcoin (VTC), Quantstamp (QSP), iExec RLC (RLC), Decentraland (MANA), Polymath (POLY), Po.et (POE), Loom Network (LOOM), NULS (NULS), Enjin Coin (ENJ), Raiden Network Token (RDN), Metal (MTL), Arcblock (ABT), Pundi X (NPXS), SIRIN LABS Token (SRN), Bluzelle (BLZ), Genesis Vision (GVT), THETA (THETA), NavCoin (NAV), Gifto (GTO), Comet (CMT), AirSwap (AST), OST (OST), Scry.info (DDD), Ripio Credit Network (RCN), Streamr DATAcoin (DATA), Quantum Resistant Ledger (QRL), AdEx (ADX), UTRUST (UTK), Einsteinium (EMC2), Ambrosus (AMB), Groestlcoin (GRS), WePower (WPR), Peercoin (PPC), Crypterium (CRPT), USD Coin ( USDC ), Ripple (XRP), Binance Coin (BNB), Bitcoin Cash (BCH), Bitcoin SV (BSV), Cardano (ADA), Cosmos (ATOM), Dash (DASH), EOS (EOS), Ethereum (ETH), Litecoin (LTC), Monero (XMR), NEM (XEM), Stellar (XLM), Tether (USDT), Tron (TRX), Polkadot (DOT), BitTorrent (BTT), Matic Network (MATIC), Terra (LUNA), pTokens BTC (PBTC), Crypto.com Coin (CRO), Filecoin (FIL), FTX Token (FTT), Kusama (KSM), Algorand (ALGO), NEAR Protocol (NEAR), Ocean Protocol (OCEAN), Celo (CELO), Energy Web Token (EWT), Quant (QNT), Hedera Hashgraph (HBAR), Solana (SOL), Helium (HNT), IoTeX (IOTX), TomoChain (TOMO), Chiliz (CHZ), Ankr (ANKR), IRISnet (IRIS), SUN (SUN), Hive (HIVE), Unibright (UBT), Fantom (FTM)

181- Basic Attention Token (BAT), Ethereum Classic (ETC), VeChain (VET), OmiseGO (OMG), Qtum (QTUM), ICON (ICX), Bytom (BTM), Populous (PPT), Wanchain (WAN), DigixDAO (DGD), Waves (WAVES), Zilliqa (ZIL), RChain (RHOC), Aeternity (AE), Status (SNT), 0x (ZRX), Loopring (LRC), Aion (AION), Golem (GNT), IOST (IOST), KuCoin Shares (KCS), Waltonchain (WTC), aelf (ELF), Centrality (CENNZ), Dragonchain (DRGN), Substratum (SUB), QASH (QASH), Veritaseum (VERI), Mithril (MITH), Gas (GAS), Elastos (ELA), Voyager Token (VGX), FunFair (FUN), Nebulas (NAS), Nucleus Vision (NCASH), Revain (REV), WAX (WAX), SALT (SALT), Power Ledger (POWR), Storm (STORM), Mixin (XIN), Enigma (ENG), Storj (STORJ), TenX (PAY), Cindicator (CND), Dentacoin (DCN), Civic (CVC), Iconomi (ICN), SingularityNET (AGI), Matrix AI Network (MAN), POA Network (POA), GameCredits (GAME), Dent (DENT), Quantstamp (QSP), Gnosis (GNO), iExec RLC (RLC), Decentraland (MANA), Polymath (POLY), Cube (CUBEAUTO), Po.et (POE), Genaro Network (GNX), Loom Network (LOOM), NULS (NULS), Dynamic Trading Rights (DTR), Time New Bank (TNB), Aragon (ANT), Enjin Coin (ENJ), High Performance Blockchain (HPB), Raiden Network Token (RDN), Metal (MTL), Santiment Network Token (SAN), Pundi X (NPXS), SIRIN LABS Token (SRN), Dropil (DROP), Bluzelle (BLZ), SmartMesh (SMT), Genesis Vision (GVT), THETA (THETA), Pillar (PLR), Paypex (PAYX), Gifto (GTO), PayPie (PPP), BLOCKv (VEE), AirSwap (AST), DEW (DEW), Bibox Token (BIX), OST (OST), ETHLend (LEND), IoT Chain (ITC), DATA (DTA), Scry.info (DDD), Ruff (RUFF), Ripio Credit Network (RCN), SONM (SNM), Quantum Resistant Ledger (QRL), AdEx (ADX), SophiaTX (SPHTX), SingularDTV (SNGLS), Eidoo (EDO), UTRUST (UTK), Ambrosus (AMB), Edgeless (EDG), EvenCoin (EVN), WePower (WPR), SpankChain (SPANK), CRYPTO20 (C20), Telcoin (TEL), Crypterium (CRPT), Oyster Pearl (PRL), MediShares (MDS), AppCoins (APPC), USD Coin ( USDC ), Binance Coin (BNB), EOS (EOS), Ethereum (ETH), Tether (USDT), Tron (TRX), LKSCOIN, Polkadot (DOT), Matic Network (MATIC), renBTC (RENBTC), NXM (NXM), Terra (LUNA), Ampleforth (AMPL), xDai (STAKE), Nectar (NEC), sUSD (SUSD), Zap (ZAP), Monolith (TKN), Metronome (MET), YAM v1 (YAM), bitCNY (BITCNY), Hydro Protocol (HOT), Auctus (AUC), Loopring [NEO] (LRN), Compound Dai (CDAI), Compound SAI (CSAI), Compound USD Coin (CUSDC), pTokens BTC (PBTC), Compound Ether (CETH), PieDAO BTC++ (BTC++), Compound Basic Attention Token (CBAT), Compound 0x (CZRX), Compound Wrapped BTC (CWBTC), Compound USDT (CUSDT), Compound Augur (CREP), sBTC (SBTC), XinFin Network (XDC), Crypto.com Coin (CRO), UNUS SED LEO (LEO), Huobi Token (HT), Binance USD (BUSD), Celsius (CEL), Algorand (ALGO), OKB (OKB), TrueUSD (TUSD), HUSD (HUSD), Paxos Standard (PAX), Ocean Protocol (OCEAN), ABBC Coin (ABBC), Energy Web Token (EWT), Quant (QNT), ZB Token (ZB), SwissBorg (CHSB), DxChain Token (DX), The Midas Touch Gold (TMTG), IoTeX (IOTX), RSK Infrastructure Framework (RIF), TomoChain (TOMO), Kleros (PNK), Chiliz (CHZ), Uquid Coin (UQC), Ankr (ANKR), Velas (VLX), IRISnet (IRIS), Hive (HIVE), Energi (NRG), Unibright (UBT), WAX (WAXP), Fantom (FTM), NAGA Coin

Security

No data

Personal

Anonymity

No data

High

Ease of use

No data

No data

Has attached card

No data

no

Has trading facilities

No data

No data

Has vouchers and offers

No data

No data

Features

No data

Hierarchical Deterministic, Open Source

About

Coinspot wallet is a special service provided by Coisnpot exchange. It provides a hot wallet for every coin its exchange is currently trading. Alongside with crypto, it also supports the Australian Dollar. Currently ,CoinSpot wallet has more than 60 coins and tokens. Built-in exchange is an additional feature of the wallet as well as 2FA for the additional security. The only language available is English.

MetaMask is an open-source multi-cryptocurrency wallet and a gateway to Ethereum-based decentralized applications. As the wallet is made for work with the Ethereum blockchain, it’s understood that it supports only Ether and ERC20 tokens. This wallet is designed to let users control their data and assets at the fullest and doesn’t store data and assets of its users. MetaMask is a mobile application but those who need a desktop version can use a MetaMask browser extension. It is available for Chrome, Brave, and Firefox browsers. 

Founding Date

Founding Date

2013

Founding Date

2016

Country

Country

Australia

Country

Switzerland

Languages

Languages

English

Languages

English

Wallet type

Wallet type

Software wallet

Wallet type

Software wallet

Storage type

Storage type

Hot wallet

Storage type

Hot wallet

Private keys

Private keys

Not available

Private keys

Available

Available coins

Available coins

150- Bitcoin (BTC), Basic Attention Token (BAT), IOTA (MIOTA), Tezos (XTZ), Ethereum Classic (ETC), NEO (NEO), VeChain (VET), OmiseGO (OMG), Qtum (QTUM), Verge (XVG), Lisk (LSK), ICON (ICX), Ontology (ONT), Bitcoin Gold (BTG), Zcash (ZEC), Nano (NANO), Populous (PPT), Bytecoin (BCN), Steem (STEEM), Wanchain (WAN), Siacoin (SC), Dogecoin (DOGE), Waves (WAVES), Zilliqa (ZIL), Decred (DCR), Aeternity (AE), Status (SNT), 0x (ZRX), Loopring (LRC), Komodo (KMD), Aion (AION), Golem (GNT), Ardor (ARDR), IOST (IOST), DigiByte (DGB), Ark (ARK), Waltonchain (WTC), aelf (ELF), PIVX (PIVX), Factom (FCT), Dragonchain (DRGN), Substratum (SUB), Mithril (MITH), Syscoin (SYS), Gas (GAS), Elastos (ELA), Voyager Token (VGX), FunFair (FUN), Nxt (NXT), Nebulas (NAS), Nucleus Vision (NCASH), OByte (GBYTE), ReddCoin (RDD), Revain (REV), WAX (WAX), SALT (SALT), Electroneum (ETN), MaidSafeCoin (MAID), Power Ledger (POWR), Zcoin (XZC), Enigma (ENG), Storj (STORJ), TenX (PAY), Neblio (NEBL), Cindicator (CND), Skycoin (SKY), Horizen (ZEN), Civic (CVC), SingularityNET (AGI), POA Network (POA), Nexus (NXS), GameCredits (GAME), Dent (DENT), Vertcoin (VTC), Quantstamp (QSP), iExec RLC (RLC), Decentraland (MANA), Polymath (POLY), Po.et (POE), Loom Network (LOOM), NULS (NULS), Enjin Coin (ENJ), Raiden Network Token (RDN), Metal (MTL), Arcblock (ABT), Pundi X (NPXS), SIRIN LABS Token (SRN), Bluzelle (BLZ), Genesis Vision (GVT), THETA (THETA), NavCoin (NAV), Gifto (GTO), Comet (CMT), AirSwap (AST), OST (OST), Scry.info (DDD), Ripio Credit Network (RCN), Streamr DATAcoin (DATA), Quantum Resistant Ledger (QRL), AdEx (ADX), UTRUST (UTK), Einsteinium (EMC2), Ambrosus (AMB), Groestlcoin (GRS), WePower (WPR), Peercoin (PPC), Crypterium (CRPT), USD Coin ( USDC ), Ripple (XRP), Binance Coin (BNB), Bitcoin Cash (BCH), Bitcoin SV (BSV), Cardano (ADA), Cosmos (ATOM), Dash (DASH), EOS (EOS), Ethereum (ETH), Litecoin (LTC), Monero (XMR), NEM (XEM), Stellar (XLM), Tether (USDT), Tron (TRX), Polkadot (DOT), BitTorrent (BTT), Matic Network (MATIC), Terra (LUNA), pTokens BTC (PBTC), Crypto.com Coin (CRO), Filecoin (FIL), FTX Token (FTT), Kusama (KSM), Algorand (ALGO), NEAR Protocol (NEAR), Ocean Protocol (OCEAN), Celo (CELO), Energy Web Token (EWT), Quant (QNT), Hedera Hashgraph (HBAR), Solana (SOL), Helium (HNT), IoTeX (IOTX), TomoChain (TOMO), Chiliz (CHZ), Ankr (ANKR), IRISnet (IRIS), SUN (SUN), Hive (HIVE), Unibright (UBT), Fantom (FTM)

Available coins

181- Basic Attention Token (BAT), Ethereum Classic (ETC), VeChain (VET), OmiseGO (OMG), Qtum (QTUM), ICON (ICX), Bytom (BTM), Populous (PPT), Wanchain (WAN), DigixDAO (DGD), Waves (WAVES), Zilliqa (ZIL), RChain (RHOC), Aeternity (AE), Status (SNT), 0x (ZRX), Loopring (LRC), Aion (AION), Golem (GNT), IOST (IOST), KuCoin Shares (KCS), Waltonchain (WTC), aelf (ELF), Centrality (CENNZ), Dragonchain (DRGN), Substratum (SUB), QASH (QASH), Veritaseum (VERI), Mithril (MITH), Gas (GAS), Elastos (ELA), Voyager Token (VGX), FunFair (FUN), Nebulas (NAS), Nucleus Vision (NCASH), Revain (REV), WAX (WAX), SALT (SALT), Power Ledger (POWR), Storm (STORM), Mixin (XIN), Enigma (ENG), Storj (STORJ), TenX (PAY), Cindicator (CND), Dentacoin (DCN), Civic (CVC), Iconomi (ICN), SingularityNET (AGI), Matrix AI Network (MAN), POA Network (POA), GameCredits (GAME), Dent (DENT), Quantstamp (QSP), Gnosis (GNO), iExec RLC (RLC), Decentraland (MANA), Polymath (POLY), Cube (CUBEAUTO), Po.et (POE), Genaro Network (GNX), Loom Network (LOOM), NULS (NULS), Dynamic Trading Rights (DTR), Time New Bank (TNB), Aragon (ANT), Enjin Coin (ENJ), High Performance Blockchain (HPB), Raiden Network Token (RDN), Metal (MTL), Santiment Network Token (SAN), Pundi X (NPXS), SIRIN LABS Token (SRN), Dropil (DROP), Bluzelle (BLZ), SmartMesh (SMT), Genesis Vision (GVT), THETA (THETA), Pillar (PLR), Paypex (PAYX), Gifto (GTO), PayPie (PPP), BLOCKv (VEE), AirSwap (AST), DEW (DEW), Bibox Token (BIX), OST (OST), ETHLend (LEND), IoT Chain (ITC), DATA (DTA), Scry.info (DDD), Ruff (RUFF), Ripio Credit Network (RCN), SONM (SNM), Quantum Resistant Ledger (QRL), AdEx (ADX), SophiaTX (SPHTX), SingularDTV (SNGLS), Eidoo (EDO), UTRUST (UTK), Ambrosus (AMB), Edgeless (EDG), EvenCoin (EVN), WePower (WPR), SpankChain (SPANK), CRYPTO20 (C20), Telcoin (TEL), Crypterium (CRPT), Oyster Pearl (PRL), MediShares (MDS), AppCoins (APPC), USD Coin ( USDC ), Binance Coin (BNB), EOS (EOS), Ethereum (ETH), Tether (USDT), Tron (TRX), LKSCOIN, Polkadot (DOT), Matic Network (MATIC), renBTC (RENBTC), NXM (NXM), Terra (LUNA), Ampleforth (AMPL), xDai (STAKE), Nectar (NEC), sUSD (SUSD), Zap (ZAP), Monolith (TKN), Metronome (MET), YAM v1 (YAM), bitCNY (BITCNY), Hydro Protocol (HOT), Auctus (AUC), Loopring [NEO] (LRN), Compound Dai (CDAI), Compound SAI (CSAI), Compound USD Coin (CUSDC), pTokens BTC (PBTC), Compound Ether (CETH), PieDAO BTC++ (BTC++), Compound Basic Attention Token (CBAT), Compound 0x (CZRX), Compound Wrapped BTC (CWBTC), Compound USDT (CUSDT), Compound Augur (CREP), sBTC (SBTC), XinFin Network (XDC), Crypto.com Coin (CRO), UNUS SED LEO (LEO), Huobi Token (HT), Binance USD (BUSD), Celsius (CEL), Algorand (ALGO), OKB (OKB), TrueUSD (TUSD), HUSD (HUSD), Paxos Standard (PAX), Ocean Protocol (OCEAN), ABBC Coin (ABBC), Energy Web Token (EWT), Quant (QNT), ZB Token (ZB), SwissBorg (CHSB), DxChain Token (DX), The Midas Touch Gold (TMTG), IoTeX (IOTX), RSK Infrastructure Framework (RIF), TomoChain (TOMO), Kleros (PNK), Chiliz (CHZ), Uquid Coin (UQC), Ankr (ANKR), Velas (VLX), IRISnet (IRIS), Hive (HIVE), Energi (NRG), Unibright (UBT), WAX (WAXP), Fantom (FTM), NAGA Coin

Security

Security

No data

Security

Personal

Anonymity

Anonymity

No data

Anonymity

High

Ease of use

Ease of use

No data

Ease of use

No data

Has attached card

Has attached card

No data

Has attached card

no

Has trading facilities

Has trading facilities

No data

Has trading facilities

No data

Has vouchers and offers

Has vouchers and offers

No data

Has vouchers and offers

No data

Features

Features

No data

Features

Hierarchical Deterministic, Open Source

Social

Website

Twitter

Website

Website

twitter.com

Website

metamask.ioTwitter

Twitter

CoinSpot

Twitter

@metamask_io

Advantages

– Easy to use and secure- Trusted

– Ease of use- Flexible fees- Good functionality- Wide range of supported tokens

Disadvantages

– The platform can only be used by Australian residents- A deposit with a card has a 1% charges fee

– Not fully private

Rating

User rating

User rating

4.3 / 5

16 user reviews

User rating

2.2 / 5

17 user reviewsCryptogeek rating

Cryptogeek rating

4.0 / 5

Cryptogeek rating

5.0 / 5

Advantages

Advantages

– Easy to use and secure- Trusted

Advantages

– Ease of use- Flexible fees- Good functionality- Wide range of supported tokens

Disadvantages

Disadvantages

– The platform can only be used by Australian residents- A deposit with a card has a 1% charges fee

Disadvantages

– Not fully private

CoinSpot Wallet user rating is 4.3, based on 16 user reviews. MetaMask user rating is 2.2, based on 17 user reviews.

We also calculate the special Cryptogeek TrustScore based on the characteristics of each wallet.

Choose other companies

Both wallets are solid and intuitive products. CoinSpot is probably a more user-friendly wallet and a better option for newbies. Another considerable advantage is the ability to use BTC. However, you must create an account on the CoinSpot exchange if you want to use this wallet. MetaMask doesn’t require much hassle if you want to use this wallet. Wallets are very different in terms of approaching anonymity and privacy. MetaMask gives you more room for preserving your privacy. More than that, MetaMask allows you to earn via staking and can bring more diversity to your portfolio via the support of NFTs. There are many things to consider before you choose between MetaMask and CoinSpot. We hope, now, you have a good idea of what these wallets are and which one is what you need.

This article compares two wallets that have little in common. These wallets are MetaMask and CoinSpot Wallet. MetaMask is a popular wallet for ERC tokens (although it is suitable for other tokens as well), and CoinSpot is a wallet automatically created for CoinSpot users. Despite having different specifics, people request a comparison between these wallets. In this article, we will show the main features and characteristics of these wallets so you can decide which wallet is the better choice considering your needs.

  1. What Is CoinSpot Wallet? 
  2. What Is MetaMask?
  3. CoinSpot vs. MetaMask (table)
  4. CoinSpot vs. MetaMask (details)

What Is CoinSpot Wallet? 

CoinSpot wallet is created automatically for the users of the CoinSpot exchange. The latter is an Australian crypto exchange. CoinSpot Wallet cannot even be downloaded from the exchange website. The wallet supports over 360 crypto assets and has an excellent and user-friendly design. 

We can’t say that CoinSpot Wallet is that multi-functional. Mainly, it has the basic functionality that allows users to send, receive, and store coins. As for extras, you can swap coins via the wallet. 

One of the essential features of the CoinSpot wallet is that it supports fiat money, namely, an Australian dollar (AUD). It makes the wallet especially convenient for Australian citizens/residents as they can use CoinSpot Wallet in many situations.

CoinSpot users can deposit fiat money in a handful of ways, including PayID, POLi, Direct Deposit, BPAY, and BlueShyft. Some of these payment methods are free, while others charge you a small commission.

What Is MetaMask?

MetaMask is a popular multi-currency crypto wallet created in 2016. Early on, it was suitable only for Ethereum-based tokens. However, it kept developing, and now it supports BNB chain tokens. Also, users can connect custom test blockchains.

Apart from the standard for crypto wallet mobile apps, MetaMask can be installed as a browser extension. MetaMask extensions exist for browsers like Chrome, Firefox, Brave, and Edge. MetaMask allows swapping tokens and supports NFTs and collectibles. Access to your wallet is safeguarded by a seed phrase. Beware of phishing and malware that can help hackers gain control over your funds in MetaMask. MetaMask is an HD-wallet. It helps to keep your transactions private. One of the most obvious drawbacks of this wallet is the lack of support for Bitcoin.

CoinSpot vs. MetaMask (table)

FactorCoinSpotMetaMaskPlatformsWindows, Mac, Linux, mobile appsbrowser extensions, mobile appsTypes of transactionsSend, receive, store, swap, buy, sellSend, receive, store, swap, buy, sell, stakeTransaction feesMiner feesMiner feesSupported currencies360+NFTs, ERC tokens, BNB chain tokens, BTC is not supportedSecurity features2fa, SMS verificationThe seed phrasePayment methodsPayID, POLi, Direct Deposit, BPAY, and BlueShyftWyre, Transak, and MoonPayCustodial?YesNoExtra featuresFiat money withdrawals/depositsStakingAccessglobalglobal

CoinSpot vs. MetaMask (details)

Platforms

MetaMask lacks a desktop client. That’s a drawback. CoinSpot Wallet offers wallets for three operational systems. On the other hand, MetaMask can be installed as a browser extension which is not the case for CoinSpot. So, by this parameter, we can’t say that one of the wallets is better. It depends on your needs and preferences.

Types of transactions

The sets of supported transaction types are nearly identical. If we concentrate on transaction types, we should admit that MetaMask supports the same transaction types as CoinSpot. However, the latter doesn’t allow users to earn via staking. On MetaMask, you can make money and participate in decision-making on the PoS-based platforms via staking. So it comes that MetaMask is a bit more comprehensive in terms of transaction types.

Transaction fees

Both CoinSpot and MetaMask don’t take anything on top of the miner fees paid for the transaction validation, which is a good thing. CoinSpot allows you to increase transaction speed via paying a bigger miner commission.

Supported currencies

MetaMask supports over 400 coins and a bunch of NFTs. CoinSpot wallet supports many currencies, too. The amount is smaller (below 400 as of July 2022), but CoinSpot supports Bitcoin, which is an essential advantage over MetaMask.

Security features

The users themselves secure MetaMask accounts. It’s up to you to come up with a strong password and keep your wallet off the phishing attempts and other hacker attacks. The seed phrase is set in order to preserve your access to your funds. That’s it. CoinSpot wallet is designed differently. You secure your account via 2fa and SMS verification tool. That’s the difference between custodial and non-custodial wallets. If you like to control your funds’ safety, then MetaMask will fit you better than CoinSpot. If you prefer to outsource funds protection to a wallet, you can choose CoinSpot.

Payment methods

Deposit methods offered by these wallets are different but equally accessible. By this parameter, we can’t single out any of these wallets as a better one.

Extra features

CoinSpot Wallet is just a piece of a crypto exchange, not a full-fledged modern multi-currency crypto wallet. Therefore, MetaMask is more versatile when it comes to the selection of extra features. CoinSpot, however, has a valuable feature that MetaMask lacks. CoinSpot wallet users can deposit and withdraw fiat money (AUD). If you need this feature more than staking, CoinSpot might be a better option than MetaMask.

Access 

Both wallets are available globally. However, CoinSpot is more suitable for Australian residents as the Australian dollar is a base fiat currency for the wallet. More than that, most payment methods are more familiar to Australian residents. However, it doesn’t make CoinSpot somewhat less universal than MetaMask in terms of geography.

 

Written by Jane