The year 2021 was a big year for the NFT, and its popularity peaked in December when many people decided to give NFTs as gifts for the holidays. Many people are learning for the first time that they need a cryptocurrency wallet in order to buy or receive NFT as a gift. A cryptocurrency wallet stores your cryptocurrency gives you access to compatible apps and validates your ownership of NFT assets.
So, where should you begin? MetaMask and Coinbase Wallet are two of the most popular options for both beginners and advanced users. While it is technically possible to carry numerous wallets, most users would be best served by sticking to just one. In this essay, we’ll go over each wallet briefly before deciding which one to use to get started with your NFT ownership.
You might be shocked to learn that MetaMask has been around as a Chrome Extension since 2016. In 2020, they finally released mobile apps for iOS and Android. It is the most popular wallet on the market, particularly among newcomers to the NFT world.
You may not even have an option in many circumstances. Apps that employ Web3 technologies, such as Spatial.io, only support MetaMask because it has the greatest user base. Despite the fact that apps with a bigger user base, such as Decentraland and OpenSea, accept numerous wallets, MetaMask is still the first and most prominent option when users sign up or log in.
MetaMask is often the only wallet you can use for both online and mobile, including the major NFT marketplace OpenSea, making it even more competitive. Other wallets only operate on the web or on mobile, therefore MetaMask is a no-brainer to use across all devices. Simply told, utilizing MetaMask as your first and primary wallet is the most recommended solution for everyone.
Trust is essential when allowing wallets access to your funds, just as it is when choosing a financial institution. Coinbase Wallet, while newer and less well-supported than MetaMask, is another option for your cryptocurrency wallet. Coinbase Wallet is a cryptocurrency wallet developed by Coinbase, a publicly traded American firm that operates the world’s second-largest cryptocurrency exchange platform. In reality, many MetaMask users utilize Coinbase to trade cryptocurrencies before sending funds to their wallets.
Because Coinbase controls both the exchange and the wallet, they can provide a more uniform user experience as well as support for asset trading between the two. Additionally, Coinbase is expanding its service with the addition of support for the NFT Marketplace, which will provide users with a more consistent NFT purchase experience.
While MetaMask only supports Ethereum Virtual Machine (EVM) Networks, which are hard forks of the Ethereum blockchain, Coinbase Wallet also supports Bitcoin, Dogecoin, Litecoin, and other popular networks. Wider network support could be a gamechanger for some users, depending on their needs.
Which one to use?
The good news is that both wallets have a large following. Even if Coinbase Wallet isn’t enabled as a first-class authentication option, there’s a wallet integration tool called WalletConnect that enables you to log in to supported apps.
If you currently use a MetaMask wallet and wish to switch, Coinbase Wallet allows you to import your MetaMask wallet. However, the contrary is not true. You can’t import Coinbase Wallet into MetaMask right now.
Unless you already adore and are thrilled about Coinbase’s consistent single-platform experience, MetaMask is the better choice due to its widespread popularity in the virtual community. If you change your mind later, you can always import your MetaMask wallet into Coinbase Wallet.