Metamask vs CoinSpot

CoinSpot vs Metamask: Features

CoinSpot is Australia's largest Cryptocurrency exchange that offers a wide range of products and services. On CoinSpot, Aussie investors can buy, sell and store over 370 tokens, stake 23 Cryptocurrencies and earn the highest yields in the country, invest in thousands of NFTs including popular projects like BAYC and Crypto Punks, spend 370 tokens on the CoinSpot Mastercard and purchase Bundles (Crypto ETFs).

MetaMask on the other hand is a popular Crypto wallet that can store thousands of tokens available on the Ethereum network. It also offers a 'Swap' feature that allows users to trade tokens directly through the application. Apart from its storage and swap function, it does not offer any additional features.

Winner: CoinSpot is a far more versatile platform that offers a vast array of features and can store more token types such as Solana. Unlike MetaMask, which can only store Ethereum-based tokens.

‍Fees

CoinSpot is by far the more affordable option for trading Cryptocurrencies. Their fees start at 0.1% when you use their Market Buy feature and 1% when using their Instant Buy feature. This is among some of the lowest fees in Australia, most exchanges typically charge between 1% - 3%.

MetaMask is on-chain, so when trading Cryptocurrencies you will need to consider the network transaction (gas) fee, which can vary depending on how congested the network is. Additionally, there is a trading fee of 0.875% anytime you buy or sell a token.

Winner: CoinSpot offers significantly lower fees than MetaMask and only charges one fee.

‍

Security and Regulation

CoinSpot is the most secure exchange in Australia and has been awarded the ISO 27001 Standard Security Certification. Receiving this award means that their information security management systems are highly secure, and eliminate unauthorised access, modification or use for malicious intent. It is also registered with AUSTRAC and licensed by ASIC, Australia's two regulatory bodies.

MetaMask is not considered a secure wallet provider and if you have accidentally sent your funds to the wrong wallet address it's unlikely you will be able to retrieve them. Additionally, MetaMask is an application that frequently connects to many DEXs and unverified DeFi programs so there is a risk your wallet can be hacked when connecting to these applications.

Winner: CoinSpot is a highly regulated and secure trading platform that has high-security measures in place to prevent cyber attacks or hacking incidents.

Customer Support

CoinSpot has an extremely reputable customer support team and offers a 24/7 Live Chat feature on its platform. In addition to live chat, CoinSpot offers email and phone support, and an online ticketing support system. The customer service team can also be reached on Instagram, Twitter, Facebook, and Reddit. The exchange also has an extremely high Trust Pilot rating of 4.5 Stars.

MetaMask also does not offer a live chat feature and the only way to contact them is through its MetaMask Community page.

Winner: CoinSpot offers multiple 24/7 support options whereas MetaMask only provides an FAQ section.

‍

Crypto Wallet

CoinSpot provides a multi-coin wallet that can store both Cryptocurrencies and Fiat Currencies (AUD). It can hold 370+ tokens that are based on a variety of networks including Ethereum and Solana.

MetaMask is an Ethereum native wallet that supports thousands of Ethereum-based tokens but does not provide support for fiat currencies.

Winner: MetaMask does support more tokens but only ones that are supported on the Ethereum network.

‍

Mobile App

CoinSpot's mobile application is available to download on both iOS and Android devices. It offers the same functionality and UI of its web counterpart and allows Aussie investors to make trades, stake tokens, invest in NFTs, and spend Crypto on the CoinSpot Crypto card all on the go. It also offers a live chat feature so you can speak to support whenever and wherever you are.

MetaMask is also available to download on both Android and iOS devices. It offers the same utility as its web platform and is highly rated on both app stores. On the Apple App Store it has a rating of 4.7 stars from 34.4K reviews and on the Google Play Store it is rated 4.4 stars form 189K reviews.

Winner: CoinSpot overall offers more features on its mobile app as it has more services in general.

Final Thoughts

In conclusion, while both CoinSpot and MetaMask are popular Cryptocurrency investing platforms, CoinSpot is the better option due to its vast range of features, significantly lower fees, superior security and regulation, reliable customer support, and highly functional mobile app. While MetaMask has its own strengths as a secure Ethereum wallet, it is not versatile enough to match CoinSpot's offerings, and its fees and customer support options fall short. Ultimately, investors looking for a reliable, affordable, and feature-packed Crypto trading platform should consider using CoinSpot.