Original title: Switching from MetaMask? Here are 5 alternative crypto wallets

Original article by: ELENA PEREZ

Original source: cointelegraph

Compiled by: Mars Finance, Daisy

Since the birth of cryptocurrency, a large number of crypto wallets have emerged, one of the most popular being the MetaMask browser extension wallet from software technology company Consensys.

Launched in 2016, MetaMask is currently the most popular wallet for interacting with decentralized finance (DeFi).

MetaMask’s popularity is largely due to its ease of use and wide range of features.

MetaMask was launched as a browser extension that allows users to trade with Ether as well as other ERC-20 tokens. The wallet is currently available as an extension for Chrome, Firefox, Brave, Edge, and Opera web browsers. In 2020, mobile apps were launched for iOS and Android.

In addition to its wallet functionality, MetaMask can also serve as an ID card, simplifying users' tax filings. It creates a public address to identify accounts in various decentralized applications (DApps).

This allows MetaMask users to exchange cryptocurrencies, access non-fungible token (NFT) markets, and earn tokens in blockchain games.

As a result, most DApps have integration with MetaMask built in. This feature has had a positive impact on user growth and the wallet’s popularity among DApp developers.

MetaMask’s position as the number one crypto wallet has been challenged recently, especially since Consensys changed its privacy policy in November 2022 and announced that it would collect users’ Internet Protocol, or IP, addresses.

The privacy-focused crypto community reacted poorly, claiming that Consensys’ actions went against crypto’s core principle of decentralization.

While MetaMask remains one of the top wallets, other wallets are beginning to offer similar services and compatibility.

Exodus

The multi-currency software wallet Exodus belongs to the Web3 generation of crypto wallets, which, in addition to standard wallet functions, also supports exchanges and DApps.

Exodus is one of the best looking and most intuitive wallets on the market. Originally a PC-only wallet, it now supports iOS and Android.

One of the main advantages of Exodus is the number of cryptocurrencies it supports. The wallet supports an unlimited number of cryptocurrencies from more than 50 networks. These include recognized altcoins such as Ether, Litecoin, Ripple and Bitcoin Cash. As well as popular memecoins such as Dogecoin and Shiba Inu (SHIBA). The multi-currency software wallet Exodus belongs to the Web3 generation of crypto wallets and, in addition to standard wallet functions, supports exchanges and DApps.

Exodus is one of the best looking and most intuitive wallets on the market. Originally a PC-only wallet, it now supports iOS and Android.

One of the main advantages of Exodus is the number of cryptocurrencies it supports. The wallet supports an unlimited number of cryptocurrencies from over 50 networks. These include well-established altcoins such as Ether and Litecoin, Ripple and Bitcoin Cash as well as popular memecoins such as Dogecoin and Shiba Inu (SHIBA).

Exodus wallet desktop interface. Source: Exodus

The wallet features an exchange option that allows users to exchange one cryptocurrency for another directly in the wallet. This is a convenient way to convert digital assets without the need for a third-party platform.

Another feature of the wallet is staking, which is available for Solana, Polygon, and Cardano tokens. Users can choose their own currency and lock it for a period of time, thereby earning rewards.

Phantom

The Phantom wallet has been operational since 2021 and is popular among users of the Solana ecosystem. It supports Solana, Bitcoin, Ethereum, and Polygon, providing a single platform for managing digital assets and accessing DApps. Phantom’s browser extension and mobile app allow users to interact with major NFT marketplaces and showcase their collectibles.

Phantom is a non-custodial wallet that gives users full control over their funds without having to provide personal information. A fraud detection system instantly identifies suspicious transactions, while the ability to connect to a Ledger hardware wallet adds an extra layer of security.

Phantom wallet. Source: Phantom

Phantom Wallet users can top up their wallets using bank cards and transfers. The wallet also has an exchange function that allows users to instantly exchange one cryptocurrency for another.

Phantom also allows users to connect to various marketplaces and participate in competitions. It also has a tutorial section for new users.

Brave

Brave Wallet is the built-in cryptocurrency wallet in the Brave internet browser. It supports multiple cryptocurrencies, including Brave’s native Basic Attention Token ( BAT ).

Users can purchase cryptocurrencies and NFTs using bank cards and connect to other wallets.

Initially, Brave Wallet was a fork of MetaMask, but as Brave grew, the project team decided that a higher level of security and privacy could only be achieved by having a built-in integrated cryptocurrency wallet in the browser. The wallet also has mobile versions on Android and iOS.

The desktop version of Brave Wallet interface. Source: Brave

One of the main functions of Brave Wallet is to serve as an aggregator for users who want to conduct quick transactions on one platform.

The wallet has a user-friendly interface that is intuitive and suitable for novice users.

Although it is a multi-functional wallet, Brave Wallet does not support DApps or Bitcoin.

Zengo

Zengo Wallet has been operational since 2019 and allows users to secure their wallets using multi-party computation (MPC).

MPC allows two or more entities to compute an output without revealing their inputs. According to an example on Zengo’s website, “Using MPC, a group of friends can securely compute their average salary (the ‘output’) without revealing each person’s salary (the ‘input’).”

For wallet users, this means they can protect their cryptocurrencies without a single point of failure, such as a seed phrase. MPC can perform all necessary cryptographic functions for the wallet between multiple parties, such as a remote server and a mobile phone.

It is secure because no one can steal the private key, while each party can back up their inputs without “exposing or compromising the entire system.”

Zengo’s MPC protocol includes an account password (via email), 3D FaceLock (biometric facial scan), Zengo’s initial recovery file, dual resource storage (on the personal device and Zengo’s remote servers), and the use of smart contracts to verify the owner’s signature.

Zengo wallet on a mobile phone. Source: Zengo

Users must verify every transaction on Zengo with a facial recognition scan so that no one else can access their cryptocurrency.

The wallet itself functions the same as most cryptocurrency wallets. Users can send and receive over 120 cryptocurrencies and store NFTs.

In early 2022, it also introduced support for connecting various DApps.

Rabby

Rabby Wallet is a multi-chain cryptocurrency wallet with a modern design built by DeBank. As of this writing, the wallet supports tokens and coins from 141 Ethereum Virtual Machine (EVM) compatible networks.

Rabby Wallet has desktop versions for Windows and macOS operating systems. Mobile versions are currently in beta on Android and iOS.

Rabby wallet. Source: Rabby

Fraudsters have previously attempted to create a mobile app and trick users with messages claiming to be a mobile version of the wallet in order to steal cryptocurrency from unsuspecting victims.

The wallet does not require user identification and provides scam warnings for tokens and projects that are suspected to be fake or untrustworthy.

As the Web3 space continues to grow and more alternatives emerge on the market, cryptocurrency holders have never had so many options for storing their assets.