Source: Stacy Muur
Compiled by Odaily Planet Daily (@OdailyChina); Translated by Azuma (@azuma_eth)
Wallet Complaints: Lessons Learned from Being Scammed
The experience of using cryptocurrency wallets varies. Some are indeed powerful tools for users, while others are designed to test the users IQ. Today, I will conduct the ultimate rant on them, exposing their quirks, flaws, and merits to help you choose a more suitable wallet.
A fed-up trader: “After years of testing every wallet on the market, I finally found one that doesn’t crash in the middle of a trade or feel like torture… I’m kidding, every wallet has flaws, 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 own private keys, hardware wallets are supported, there is no history of being hacked, and the code has been audited;
Network support: multi-chain support, able to handle FT and NFT;
Compatibility: Supports mobile, desktop, web, and Dapp, available anytime, anywhere;
User Experience (UX): Easy setup and intuitive interface;
Fees and transparency: clear fee structure (no hidden costs in trading);
Backup: Provides a seed phrase for easy recovery, so if you lose your phone, you won’t lose your crypto assets;
Support: Real people, not just robots, because problems always happen.
Do most wallets meet these standards? Almost. They all have the basic functions, but they all fail in different places. The reality is probably like this: most wallets allow users to control private keys; they support several major blockchains; they provide mobile or browser extension options; they support token swaps; mnemonics are standard; customer support is often unreliable; and the user experience is like a coin toss.
Now it’s time to complain, let’s see who will be criticized the most.
First a disclaimer:
I will complain about them, but I will also give them the recognition they deserve.
My goal is still to help users make choices, so think of this as a casual user manual.
Rules for Wallet Tucao Conference
Each wallet will be complained according to the following process.
Introduction Data Overview;
Tucao session;
Rescue time (exploitation of bright spots);
Identification of the level of spraying;
Our motto is “sharp-tongued but truthful” – we can play with memes but the facts must not be adulterated.
There will be 5 levels of attack level, the more intense the attack, the worse the wallet will be attacked:
🔥(1/5): Minor burns - excellent function, defects can be ignored;
🔥🔥 (2/5): Mildly roasted - good overall, but with obvious weaknesses;
🔥🔥🔥 (3/5): Moderate burns - acceptable but with some flaws;
🔥🔥🔥🔥 (4/5): Burnt by fire - the advantages cannot cover up the major flaws;
🔥🔥🔥🔥🔥 (5/5): Reduced to ashes - fatal problems crush all advantages.
Get ready to spray!
MetaMask
Introduction Data Overview
Type: hot wallet (browser plug-in + mobile terminal);
Founded: 2016, developed by Consensys;
Supported networks: Ethereum main battlefield, compatible with EVM chain, plus non-EVM chains such as Near Protocol;
Signature highlights: It is a veteran wallet of Ethereum and a leader in the Dapp world, seamlessly supporting almost every Ethereum application.
Tucao session
What’s the best part of MetaMask? The cute little fox (🦊)! Honestly, I spent more time waving my mouse around to tease the fox than actually using the wallet — the fox is much quicker than the wallet itself.
The pain points reported by users are as follows.
Experience lag: MetaMask’s loading time is enough to make you reflect deeply on your life, such as “Why didn’t I submit this transaction five minutes ago…”
Network addition : Every time I have to explain to my friends that the tokens are not lost, you just forgot to add the network, it is really tiring...
Manual network switching: Automatic detection? Overthinking! Either prepare the RPC link yourself, or go to Chainlist to learn it.
Backup and recovery: Your 12 mnemonics are your lifeblood. If you lose them, youre screwed. Dont search MetaMask customer service on X unless you want to summon phishing bots all over the Internet.
Cross-chain functionality: Currently limited to the EVM ecosystem — Solana and Bitcoin? Still waiting in the “coming soon” void.
Multi-signature function: Want to manage with multiple people? No way! Either you take full responsibility yourself, or let hackers do it for you.
Rescue time (bright spot mining)
Well, MetaMask is not just for show, it has some useful features:
Self-hosted: The private key is completely controlled by the user, and comes with strong anti-phishing protection (although it often kills legitimate websites by mistake);
Hardware wallet support: Perfectly compatible with Ledger and Trezor;
Smart trading: 99.9% success rate, MEV front-running prevention, support for transaction pre-simulation + automatic optimization and packaging of Gas fees;
Built-in Swap: One-click trading covers thousands of tokens from 9 major networks, with built-in slippage protection and send and redeem black technology;
Snaps expands the ecosystem: opening up third-party plug-ins and creating a wallet version of the app store;
Multi-cloud private key storage: Private keys are stored in a decentralized manner through Invisible Keys Snap for greater security.
Full range of tokens supported: ERC-20, ERC-721 (NFT), ERC-1155 cross-chain;
Native staking: Through the Portfolio Dapp, you can directly stake ETH to earn income while your assets are still yours.
Criticism level: 🔥🔥🔥🔥 (4/5)
The experience of being stuck like a PPT and the inhumane network management are maddening, but thanks to its dominance in the field of Dapp integration, it barely escaped the highest level evaluation of reduced to ashes.
Trust Wallet
Introduction Data Overview
Type: hot wallet (mobile terminal + browser plug-in);
Founded: Developed by Viktor Radchenko in 2017, acquired by Binance in 2018;
Supported networks: 100+ blockchains, including Ethereum, Bitcoin, Solana, Polygon, etc.
Tucao session
Trust Wallet is like a cryptocurrency supermarket - 10 million assets, 600 million NFTs, 100+ blockchains for you to choose from. 70 million users prove that it is indeed popular, but in a digital bazaar of this scale, want to distinguish between diamonds and garbage? I can only wish you good luck. Faced with such a large number of tokens, even veterans may have difficulty choosing, and novices will be directly lost in the sea of dogs.
The pain points reported by users are as follows.
Customer service black hole: “$30,000 lost, no response from customer service” — Trust Wallet is telling you with actions “We are busy serving the other 16.99 million users” — their customer service philosophy is to drag it out until you give up.
Asset overload: 10 million cryptocurrencies supported? Thats like bragging about supporting all TV channels, but 9.99 million channels are all snowy. Its cool that quantity overwhelms quality, but you wont think so until you accidentally buy an ElonDogeMoonRocket.
Mobile devices are the favorites: their browser plugin designers seem to have never used a computer. Desktop users are treated like vegetarians in a steakhouse - you can enter in theory, but no one is welcome.
Third-party fee trap: Although the slogan of coin purse handling fee is loud, the third-party service provider will quietly empty your pocket. Just like the hotel advertises free breakfast, but you find out that you have to pay $29.99 when you check out.
Rescue time (bright spot mining)
But Trust Wallet does have some tricks up its sleeve:
Safe and reliable: non-custodial design + private key self-sustaining, supports biometric login, built-in security scanning risk warning, regularly audited by Certik, Halborn and other institutions, and supports hard wallet cold storage.
Multi-chain jack of all trades: It supports over 10 million assets on 100+ chains and has full coverage of NFT functions (ERC 721/1155, BEP 721/1155), making it the most versatile wallet.
One-stop trading: The built-in DEX provides millions of trading pairs, and cross-chain exchange is achieved through THORChain and Axelar to prevent MEV from running ahead. Trust Wallet itself does not charge any fees (only the on-chain gas fee needs to be paid).
Multi-terminal compatibility: Android/iOS/Chrome plug-ins are fully supported. You can connect to the desktop DApp by scanning the QR code through Wallet Connect, and the mobile terminal experience is smooth.
User-friendly: The interface is intuitive, observation mode allows private key-free address monitoring, supports wallet nicknames and multi-wallet management on the same screen.
Industry dominance: In 2025, it will account for 35% of global downloads (more than twice that of the second place), and its backing by Binance adds to its credibility.
Fiat currency channel: Cooperate with MoonPay and others to provide zero-fee fiat currency deposits and support multiple payment methods to easily buy coins.
Criticism 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 jack of all trades, master of none . The mobile experience is excellent, but the desktop is like a stepmother, the customer service always disappears at the most critical moment, and the huge token library is both a treasure and a curse.
Rabby
Introduction Data Overview
Type: hot wallet (browser plug-in + desktop + mobile);
Creation date: 2021 Developed by DeBank;
Supported networks: Multi-chain wallet, compatible with 140+ EVM networks;
Signature highlights: Automatic chain switching + transaction preview function, helping users to see the flow of funds;
Tucao session
Rabby is like that geeky friend who brags about security all the time but always forgets to lock the door. Although it can use advanced risk scanning to warn of suspicious transactions, these features are useless when the software freezes into a PowerPoint presentation (with a frequency comparable to that of an exs Instagram stories). No matter how good it is at automatic link switching, it cant even handle basic skills such as customer service response - is the development team spending all their time counting mystery points?
The pain points reported by users are as follows.
Lack of staking function: Want to earn passive income? Don’t count on Rabby. Binance and Kraken can both be used for staking, but here there is only a points system - how can real money be as good as digital lottery?
Fiat currency channel closed: Newbies should not think about buying coins directly with fiat currency, they have to go somewhere else first. It seems that the complexity of a wallet is not enough to discourage newbies.
Schrodingers stability: startup freezes, random crashes, whitelist errors... Rabbys attitude towards user funds is comparable to that of a flirtatious partner who plays hard to get.
Ghost customer service: User feedback is falling on deaf ears, and customer service is probably busy doing math problems around the points system.
Gas fee supplement: Gas recharge starts at $20 + $4 handling fee. Isn’t the on-chain handling fee painful enough?
Rescue time (bright spot mining)
Security Buffs are fully stacked: pre-transaction risk scan + transaction simulation + security alert + token authorization warning, and the anti-scam index is fully raised;
Low-fee exchange: integrated with multiple DEX/CEX, with a handling fee of only 0.25% (MetaMask charges 0.875%, Phantom charges 0.85%);
Painless chain switching: Automatically match the correct network when connecting to Dapp, and say goodbye to the hassle of manual chain switching;
Newbie-friendly interface: Clear and intuitive interactive design, both novices and veterans can quickly get started;
Address speed dial function: one-click whitelist of commonly used wallets, transactions are like making a quick call to crypto friends;
Authorization management tool: revoke token authorization in batches to clean up digital permissions;
Full platform coverage: browser plug-in + Win/Mac client + Android APP (iOS under review), play the crypto world anytime, anywhere;
Hardware wallet co-branded: non-custodial architecture + Ledger/Trezor support, private keys are firmly in your hands.
Criticism level: 🔥🔥 (2/5)
Rabby’s automatic chain switching and security features are enough to beat its peers, but the lack of staking options, fiat currency entry, and customer service that is always on vacation are holding it back. It is like a genius with only one subject - a perfect score in a single subject, but barely passing the overall score.
Exodus
Introduction Data Overview
Type: hot wallet (desktop + browser plug-in + mobile);
Founded: 2015 by JP Richardson and Daniel Castagnoli;
User scale: 2.3 million monthly active users (as of Q4 2024)
Supported networks: 100+ blockchains (Bitcoin, Ethereum, Solana, Algorand, Arbitrum, Avalanche, etc.);
Signature highlight: Beauty is justice.
Tucao session
What’s the best part of Exodus? Of course, it’s the gorgeous interface that instantly turns you into a “high-end crypto investor”… until you try to exchange tokens and find out that their “convenience fees” are higher than college tuition! There’s nothing more “exclusive” than watching high-definition asset crash charts while paying fees that would make even CEX blush!
The pain points reported by users are as follows.
Fake import, real transfer: Want to manage an existing wallet? Sorry, Exoduss import actually transfers your assets to their address - after all, the most lacking thing for cryptocurrency is an extra transfer fee, right?
Exchange chain: You cannot directly exchange any two tokens, you must first transfer through the mainstream currency, just like you have to fly to Atlanta to transfer anywhere in the United States;
Schrodingers open source: only part of the code is open source, under the euphemism of commercial secrets. The black box operation of the encrypted wallet really makes people feel insecure;
Fee Assassin: Although the transaction fee of the SOL chain has been reduced to 0.5% since January 2025, the fees of other assets still crush the mainstream DEX;
Balance obsession: Some currencies have a minimum withdrawal threshold, which means you are destined to leave commemorative coins such as 1 DOT/0.01 SOL/10 XRP in your wallet;
Rescue time (bright spot mining)
Built-in NFT store: Solana players can buy, sell and display NFTs directly through Magic Eden without switching wallets;
Transparent exchange: After the update in January 2025, the SOL chain transaction fee is as low as 0.5%, and all fees are clearly marked;
Multi-chain staking: supports ETH/ALGO/ADA/SOL/ATOM/OSMO staking, and the income is directly credited to the account;
Full platform coverage: desktop (Win/Mac/Linux) + mobile (iOS/Android) + browser plug-in, real-time synchronization of multiple devices;
Aesthetics: The intuitive and elegant interface design is extremely user-friendly and is widely recognized as the most beautiful in the industry.
Live customer service: 24/7 online support, with an average response time of less than 60 minutes - a rare species in the crypto world;
Fiat currency direct access: integrated with MoonPay, supports Venmo/PayPal/Apple Pay/Google Pay/bank transfer deposits;
Cold wallet support: Compatible with Trezor hardware wallet, both security and appearance.
Criticism level: 🔥🔥🔥 (3/5)
Exodus is like a sophisticated lifestyler in the circle of friends - the photos are beautiful, but the dinners are expensive. The basic functions of the wallet are impeccable, but the high fees and semi-open source operation make it difficult to reach the top. It is more suitable for crypto newcomers who look is justice, but advanced users may look for new favorites for lower fees and more professional functions.
Phantom
Introduction Data Overview
Type: hot wallet (browser plug-in + mobile terminal);
Founded: 2021 by Brandon Millman, Chris Kalani and Francesco Agosti;
Supported networks: Solana is the native king, and has been expanded to Ethereum, Polygon, Bitcoin, Base and Sui;
Signature highlight: The preferred wallet for DeFi and NFT players in the Solana ecosystem.
Tucao session
Phantom wallets crash more frequently than a three-year-old on candy, and they crash at critical moments , such as during NFT sales or airdrops. Imagine you’re about to grab that shiny new token or rare digital collectible, and suddenly Phantom announces “nap time”…
The pain points reported by users are as follows.
Blockchain geek: Although it supports Ethereum, Polygon, Bitcoin, etc., it is still missing mainstream chains such as BSC and Avalanche. Want to play in the crypto world? Please practice multi-wallet acrobatics first.
Browser discrimination: Firefox users are not worthy of using Ledger hardware wallets? Chrome/Brave/Edge are the real ones.
Service Drop King: Multiple outages in 2024-2025, especially during NFT sales/airdrops. Balances disappear, transactions get stuck, assets are frozen - reliability during peak hours is comparable to a paper firewall.
iOS update tragedy: The vulnerability update in November 2024 forced the wallet to be reset, and users who did not back up their mnemonics suffered heavy losses (up to 983 SOL/600,000 US dollars). Although an emergency patch was repaired, the trust crisis of non-custodial wallets becoming bricks has spread.
Rescue time (bright spot mining)
Multi-chain barely passes: Supports Solana/Ethereum/Polygon/Bitcoin/Base, cross-chain asset management is no longer a dream;
Appearance is justice: minimalist design + fool-proof operation, suitable for both novices and veterans;
NFT Family Bucket: View/collect/group/hide junk NFTs, and query floor price/transaction history with one click;
Built-in exchange: Solana/Ethereum/Polygon on-chain tokens can be directly exchanged;
SOL money printing machine: SOL staking has an annualized return of up to 9%, making money without doing anything;
Security shield: phishing interception + vernacular transaction interpretation + fraud identification + garbage cleaning;
Cold wallet support: Ledger cold storage support (limited to Chrome/Brave/Edge);
Direct access to legal tender: MoonPay/Coinbase Pay integrated, credit card/bank transfer to buy coins directly;
Transaction preview: simulate transaction results in real time, and malicious operations will be exposed;
Personalized management: account nickname + avatar customization, drag-and-drop multi-wallet management;
NFT shortcut keys: Exclusive center to directly access project official website/staking/voting and other operations.
Criticism level: 🔥🔥🔥 (3/5)
Phantom is the party king of the Solana ecosystem, but he becomes a social phobic when he leaves this circle. Limited chain support, Solana’s parent-child attributes, and stability issues during peak periods make it difficult for it to become a multi-chain overlord. However, for Solana natives, it is still the pretty boy.
Summarize
We do complain about 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 billions of dollars worth of digital assets.
Every cryptocurrency wallet is a work of art in mathematics and computer science. When you sign a transaction, you are presented with the result of decades of cryptographic research : your private key (a huge 256-bit number) generates a unique digital signature through elliptic curve mathematics. This signature is impossible to forge but extremely easy to verify, turning difficult mathematics into real financial freedom.
From creating a wallet to initiating a transaction, you are witnessing one of the most shocking concepts in the field of technology. Behind the seemingly simple interface is a series of sophisticated cryptographic operations: generating keys through mnemonics, managing random numbers (nonce) to prevent replay attacks, calculating gas fees to maintain network balance, and verifying signatures between global nodes - all of this is done in milliseconds.
Not your private key, not your coin is not only a slogan, but also the mathematical truth behind encryption freedom.
