This article is from: Stacy Muur

Translation | Odaily Planet Daily (@OdailyChina); Translator | Azuma (@azuma_eth)

Wallet Roast: Lessons Learned After Being Scammed

The user experience of cryptocurrency wallets varies greatly; some are indeed powerful tools for users, while others seem designed to test users' IQ. Today, I will conduct an ultimate roast of them, revealing their quirks, flaws, and merits to help you choose a more suitable wallet.

A trader who can no longer tolerate it: “After testing every wallet on the market for years, I finally found one that doesn’t crash mid-transaction or torture me like a form of torture… Just kidding, every wallet has its flaws, and I have the scars to prove it.”

Core Indicators for Judging Wallets

What kind of wallet is worth storing your assets in?

• Security: Users control their private keys, support hardware wallets, no hacking history, code audited;

• Network Support: Multi-chain support, capable of handling FT and NFT;

• Compatibility: Supports mobile, desktop, web, and Dapps, available anytime, anywhere;

• User Experience (UX): Simple setup, intuitive interface;

• Fees and Transparency: Clear fee structure (no hidden costs in transactions);

• Backup: Provides seed phrases, easy recovery, losing your phone won’t mean losing your crypto assets;

• Support: Real customer service, not just bots, because issues will always arise;

Do most wallets meet these standards? Almost, they all have basic functions, but each will falter in different areas. The reality is: most wallets allow users to control their private keys; support several mainstream blockchains; provide mobile or browser extension options; support token exchange functions; mnemonic phrases are standard; customer support is often unreliable; and user experience is as random as flipping a coin.

Now it’s time to roast, let’s see who will be “sprayed” the hardest.

First, a disclaimer:

• I will roast them, but I will also give them their due credit.

• My goal is still to help users make choices, so consider this article an unserious user manual.

Wallet Roast Conference Rules

Each wallet will be roasted according to the following process.

• Introduction & Data Overview;

• Roasting Session;

• Rescue Time (Highlight Discovery);

• Spray Level Assessment;

Our motto is “Sharp Tongue but Seeking Truth” — Joking aside, the facts are not distorted.

The "Spray Level" will have 5 levels, with higher firepower indicating the wallet is being roasted harder:

• 🔥 (1/5): Minor Burns — Excellent functionality, flaws are negligible;

• 🔥🔥 (2/5): Mild “Roasting” — Overall good, but has obvious weaknesses;

• 🔥🔥🔥 (3/5): Moderate Burns — Acceptable but has serious issues;

• 🔥🔥🔥🔥 (4/5): On Fire — Advantages cannot cover major flaws;

• 🔥🔥🔥🔥🔥 (5/5): Turned to Ashes — Fatal issues overshadow all advantages.

Get ready to spray!

MetaMask

Introduction & Data Overview

• Type: Hot Wallet (Browser Extension + Mobile);

• Established: 2016, developed by Consensys;

• Supported Networks: Ethereum main battlefield, compatible with EVM chains, plus non-EVM chains like Near Protocol;

• Signature Highlights: Veteran Ethereum wallet, a leader in the Dapp space, almost every Ethereum application supports it seamlessly.

Roasting Session

What’s the best part of MetaMask? Of course, it’s that cute little fox (🦊)! Seriously, I spend more time teasing the fox with my mouse than actually using the wallet — after all, the fox reacts much faster than the wallet itself.

User feedback pain points are as follows.

• Lagging Experience: The loading time of MetaMask is enough for you to deeply reflect on life, like “Why didn’t I submit this transaction earlier five minutes ago…”

• Network Addition: Every time I have to explain to friends, “The tokens aren’t lost, you just forgot to add the network,” it’s really exhausting…

• Manual Network Switching: Automatic detection? Dream on! Either prepare the RPC link yourself or learn it on Chainlist.

• Backup and Recovery: 12 mnemonic phrases are your lifeline; losing them is catastrophic. Never search “MetaMask customer service” on X unless you want to summon all the phishing bots on the internet.

• Cross-Chain Functionality: Currently limited to the EVM ecosystem — Solana and Bitcoin? Still waiting in the “coming soon” void.

• Multi-Signature Functionality: Want to manage it with multiple people? No way! Either take full responsibility yourself or let hackers do it for you.

Rescue Time (Highlight Discovery)

Alright, MetaMask isn’t completely useless; these features are indeed impressive:

• Self-Custody: Private keys are fully controlled by users, with strong anti-phishing protection (though it often mistakenly flags legitimate sites);

• Hardware Wallet Support: Perfectly compatible with Ledger and Trezor;

• Smart Trading: 99.9% success rate, prevents MEV front-running, supports transaction pre-simulation + automatic gas fee optimization;

• Built-in Swap: One-click trading covering thousands of tokens across 9 major networks, with slippage protection and “send and swap” technology;

• Snaps Extension Ecosystem: Open third-party plugins, creating a wallet version of an “app store”;

• Multi-Cloud Private Key Storage: Distributes private keys through Invisible Keys Snap for higher security.

• Full Token Support: Cross-chain support for ERC-20, ERC-721 (NFT), ERC-1155;

• Native Staking: Directly stake ETH through the Portfolio Dapp to earn rewards while still holding the assets.

Spray Level: 🔥🔥🔥🔥 (4/5)

The PPT-like experience and inhumane network management are infuriating, but due to its dominance in Dapp integration, it barely escapes the highest level rating of “turned to ashes.”

Trust Wallet

Introduction & Data Overview

• Type: Hot Wallet (Mobile + Browser Extension);

• Established: 2017 by Viktor Radchenko, acquired by Binance in 2018;

• Supported Networks: 100+ blockchains, including Ethereum, Bitcoin, Solana, Polygon, etc.;

Roasting Session

Trust Wallet is like a big supermarket for cryptocurrencies — 10 million assets, 600 million NFTs, and 100+ blockchains for you to choose from. 70 million users prove it’s indeed likable, but in such a vast digital marketplace, good luck distinguishing diamonds from trash. Faced with such a massive number of tokens, even veterans may struggle with choice, and newcomers will likely get lost in the “meme coin ocean.”

User feedback pain points are as follows.

• Customer Service Black Hole: “$30,000 lost, no response from customer service” — Trust Wallet is telling you through action, “We’re busy serving another 16.99 million users” — their customer service philosophy is to drag it out until you give up.

• Asset Overload: Supporting 10 million cryptocurrencies? That’s like boasting about supporting all TV channels, only to find 9.99 million channels are snow screens. Quantity over quality is indeed cool, but you won’t think so after accidentally buying “ElonDogeMoonRocket.”

• Mobile is the Favorite: Their browser extension designer seems to have never used a computer. Desktop users are treated like vegetarians in a steakhouse — theoretically allowed in, but not welcomed.

• Third-Party Fee Traps: The slogan of “wallet transaction fees” sounds loud, but third-party service providers will quietly empty your pockets. It’s like a hotel boasting “free breakfast,” only to find out you have to pay $29.99 at checkout.

Rescue Time (Highlight Discovery)

However, Trust Wallet does have some impressive features:

• Safe and Reliable: Non-custodial design + self-held private keys, supports biometric login, built-in security scanning risk warnings, regularly audited by institutions like Certik and Halborn, and supports hardware wallet cold storage.

• Multi-Chain All-Rounder: Supports over 10 million assets across 100+ chains, full coverage of NFT functions (ERC721/1155, BEP721/1155), making it a versatile wallet.

• One-Stop Trading: Built-in DEX provides millions of trading pairs, achieves cross-chain exchanges through THORChain and Axelar, prevents MEV front-running, and Trust Wallet itself charges no fees (only on-chain gas fees).

• Multi-Device Compatibility: Fully supports Android/iOS/Chrome extension, connects to desktop DApps via Wallet Connect QR code, providing a smooth mobile experience.

• User-Friendly: Intuitive interface, “watch mode” allows monitoring without private key addresses, supports wallet nicknames and multi-wallet management on the same screen.

• Industry Leader Position: Expected to account for 35% of global downloads by 2025 (more than double the second place), backed by Binance adds credibility.

• Fiat Channels: Collaborates with MoonPay and others to provide zero-fee fiat deposits, supporting various payment methods for easy coin purchases.

Spray Level: 🔥🔥 (2/5)

Trust Wallet wants to be the Swiss Army Knife of the crypto world — 100+ chains, massive assets, backed by Binance — but the result is “good at everything, but weak at everything.” The mobile experience is excellent, but the desktop version feels neglected, customer service always goes missing at critical moments, and that vast token library is both a treasure and a curse.

Rabby

Introduction & Data Overview

• Type: Hot Wallet (Browser Extension + Desktop + Mobile);

• Established: 2021, developed by DeBank;

• Supported Networks: Multi-chain wallet, compatible with 140+ EVM networks;

• Signature Highlights: Automatic chain switching + transaction preview feature, helping users see the flow of funds;

Roasting Session

Rabby is like that geek friend who boasts about security awareness but always forgets to lock the door. While it can use advanced risk scanning to warn about suspicious transactions, when the software lags like a PowerPoint presentation (with a frequency comparable to an ex's Instagram stories), these features become irrelevant. It may excel at automatic chain switching, but it can't even manage basic customer service responses — did the development team spend all their time counting mysterious points?

User feedback pain points are as follows.

• Missing Staking Function: Want to earn passive income? Don’t count on Rabby. Binance and Kraken can stake, but here you only have a points system — who needs digital lottery tickets when you have real money?

• Closed Fiat Channels: Newbies can’t directly buy coins with fiat; they have to go through other platforms first. It seems that the complexity of a wallet is still not enough to deter newcomers.

• Schrödinger's Stability: Startup freezes, random crashes, whitelist errors… Rabby's attitude towards user funds is as ambiguous as a flirtatious partner playing hard to get.

• Ghost Customer Service: User feedback seems to vanish into thin air; customer service is probably busy solving math problems around the points system.

• Gas Fee Surprise: Gas recharge starts at a minimum of $20 + $4 service fee; apparently, on-chain fees aren't painful enough?

Rescue Time (Highlight Discovery)

• Full Security Buff: Risk scanning before transactions + transaction simulation + security alerts + token authorization warnings, maximizing anti-scam measures;

• Low Fee Exchanges: Integrates multiple DEX/CEX, with fees only 0.25% (MetaMask charges 0.875%, Phantom charges 0.85%);

• Seamless Chain Switching: Automatically matches the correct network when connecting to Dapps, saying goodbye to the chaos of manual chain switching;

• User-Friendly Interface: Clear and intuitive interaction design, easy for both newbies and veterans to get started quickly;

• Quick Address Dialing: One-click whitelisting for frequently used wallets, making transactions as easy as calling a crypto friend;

• Authorization Management Tool: Batch revoke token authorizations, giving digital permissions a thorough cleanup;

• Full Platform Coverage: Browser extension + Win/Mac client + Android app (iOS under review), allowing you to navigate the crypto world anytime, anywhere;

• Hardware Wallet Collaboration: Non-custodial architecture + support for Ledger/Trezor, keeping private keys firmly in your hands.

Spray Level: 🔥🔥 (2/5)

Rabby's automatic chain switching and security features are enough to outperform its peers, but the lack of staking options, fiat entry, and perpetually on-vacation customer service hold it back. It’s like a genius with a narrow focus — perfect in one area, but barely passing overall.

Exodus

Introduction & Data Overview

• Type: Hot Wallet (Desktop + Browser Extension + Mobile);

• Established: 2015 by JP Richardson and Daniel Castagnoli;

• User Base: 2.3 million monthly active users (as of Q4 2024);

• Supported Networks: 100+ blockchains (Bitcoin, Ethereum, Solana, Algorand, Arbitrum, Avalanche, etc.);

• Signature Highlights: Looks matter.

Roasting Session

What’s the best part of Exodus? Of course, it’s the glamorous interface that instantly transforms you into a "high-end crypto investor"… until you try to swap tokens and discover their "convenient fees" are higher than college tuition! There’s nothing more "prestigious" than watching a high-definition asset crash chart while paying fees that would make a CEX blush!

User feedback pain points are as follows.

Fake Import, Real Transfer: Want to manage your existing wallet? Sorry, Exodus's "import" actually transfers your assets to their address — after all, what the crypto world needs most is another transaction fee, right?

Exchange Trap: You can’t directly swap any two tokens; you must first go through a mainstream coin, like having to fly to Atlanta before going anywhere in the U.S.;

Schrödinger's Open Source: Only part of the code is open source, under the guise of "trade secrets." The black box operation of crypto wallets is truly a confidence booster;

Fee Assassin: Although the transaction fee for the SOL chain will drop to 0.5% starting January 2025, other asset fees still crush mainstream DEXs;

Balance Compulsion: Some coins have minimum withdrawal thresholds, leaving "commemorative coins" like 1 DOT/0.01 SOL/10 XRP stuck in your wallet;

Rescue Time (Highlight Discovery)

• Built-in NFT Marketplace: Solana players can buy, sell, and showcase NFTs directly through Magic Eden without switching wallets;

• Transparent Exchanges: After the January 2025 update, SOL chain transaction fees will be as low as 0.5%, with all fees clearly listed;

• Multi-Chain Staking: Supports staking for ETH/ALGO/ADA/SOL/ATOM/OSMO, with earnings deposited directly;

• Full Platform Coverage: Desktop (Win/Mac/Linux) + Mobile (iOS/Android) + Browser Extension, with real-time synchronization across devices;

• Aesthetic Impact: Intuitive and elegant interface design, highly user-friendly, recognized as a beauty in the industry;

• Real Customer Service: 24/7 online support, with an average response time of less than 60 minutes — truly a rare species in the crypto world;

• Direct Fiat Access: Integrates MoonPay, supporting deposits via Venmo/PayPal/Apple Pay/Google Pay/bank transfers;

• Cold Wallet Support: Compatible with Trezor hardware wallets, ensuring both security and aesthetics.

Spray Level: 🔥🔥🔥 (3/5)

Exodus is like the refined lifestyle guru in your friend circle — the photos are picturesque, but the dining bills are outrageous. The basic functions of the wallet are impeccable, but the high fees and semi-open-source operations prevent it from reaching the top. It’s more suitable for crypto newcomers who believe "looks matter," but advanced users may seek alternatives for lower fees and more professional features.

Phantom

Introduction & Data Overview

• Type: Hot Wallet (Browser Extension + Mobile);

• Established: 2021 by Brandon Millman, Chris Kalani, and Francesco Agosti;

• Supported Networks: Native king of Solana, now expanded to Ethereum, Polygon, Bitcoin, Base, and Sui;

• Signature Highlights: The wallet of choice for DeFi and NFT players in the Solana ecosystem.

Roasting Session

The crash frequency of the Phantom wallet is higher than that of a three-year-old on sugar, and it always chooses critical moments — like during NFT drops or airdrop frenzies. Imagine you’re about to snag that shiny new token or rare digital collectible, and suddenly Phantom announces, “Nap time is over”…

User feedback pain points are as follows.

Chain Circle Homebody: Although it now supports Ethereum, Polygon, Bitcoin, etc., it still lacks mainstream chains like BSC and Avalanche. Want to navigate the crypto world? First, master the "multi-wallet juggling act."

• Browser Discrimination: Firefox users can’t use Ledger hardware wallets? Chrome/Brave/Edge are the favored children.

• Service Outage King: Multiple outages from 2024 to 2025, especially during NFT sales/airdrops. Balances disappear, transactions freeze, assets get locked — reliability during peak times is comparable to a paper firewall.

• iOS Update Disaster: A vulnerability update in November 2024 forced a wallet reset, causing users without backup mnemonic phrases to suffer heavy losses (up to 983 SOL/$600,000). Although an emergency patch was issued, the trust crisis of "non-custodial wallets turning into bricks" has spread.

Rescue Time (Highlight Discovery)

• Multi-Chain Barely Passes: Supports Solana/Ethereum/Polygon/Bitcoin/Base, making cross-chain asset management no longer a dream;

• Looks Matter: Minimalist design + foolproof operation, suitable for both newbies and veterans;

• NFT All-in-One: View/collect/group/hide junk NFTs, with one-click access to floor prices/transaction history;

• Built-in Exchange: Directly swap tokens on Solana/Ethereum/Polygon chains;

• SOL Money Printer: SOL staking yields up to 9% annually, earning while you sleep;

• Security Shield: Phishing interception + plain language transaction interpretation + scam identification + junk cleaning;

• Cold Wallet Support: Ledger cold storage support (limited to Chrome/Brave/Edge);

• Direct Fiat Access: Integrates MoonPay/Coinbase Pay, allowing credit card/bank transfer purchases directly;

• Transaction Preview: Real-time simulation of transaction results, with malicious operations nowhere to hide;

• Personalized Management: Account nicknames + avatar customization, drag-and-drop multi-wallet management;

• NFT Shortcuts: Direct access to project websites/staking/voting operations from a dedicated center.

Spray Level: 🔥🔥🔥 (3/5)

Phantom is the party king of the Solana ecosystem, but outside this circle, it turns into a social anxiety patient. Limited chain support, Solana favoritism, and stability issues during peak times make it hard to become a multi-chain leader. However, for Solana natives, it remains the "most stylish one."

Summary

We do indeed roast the shortcomings of these wallets — but we should not overlook their great achievements. They have democratized financial autonomy, allowing everyone to bypass institutional gatekeepers and securely manage digital assets worth billions.

Each cryptocurrency wallet is a masterpiece of mathematics and computer science. When you sign a transaction, what you see is the result of decades of cryptographic research: your private key (a massive 256-bit number) generates a unique digital signature through elliptic curve mathematics. This signature cannot be forged but is easy to verify, transforming complex mathematics into real financial freedom.

From creating a wallet to initiating a transaction, you witness one of the most shocking concepts in the tech field. Behind the seemingly simple interface lies a series of precise cryptographic operations: generating keys through mnemonic phrases, managing random numbers (nonce) to prevent replay attacks, calculating gas fees to maintain network balance, and verifying signatures across global nodes — all completed in milliseconds.

"Not your private key, not your coins" is not just a slogan, but a mathematical truth behind crypto freedom.

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