metaMask is a popular browser extension and mobile app that allows users to manage their cryptocurrency wallets and interact with decentralized applications (DApps) on the Ethereum blockchain. In this blog post, we'll explore what MetaMask is, how to install and set it up, its features, and some tips for using it safely.
MetaMask is a cryptocurrency wallet and DApp browser extension that is compatible with popular web browsers like Google Metamask Chrome Extension Mozilla Firefox, and Brave. It also has a mobile app version for both iOS and Android. Here are some key features and functions of MetaMask:
Security, anonymity, and decentralization are some of the most attractive features in the crypto industry and MetaMask does not fail to exhibit these traits. Users can download the wallet software or add it as a browser extension and install it without disclosing identifying data such as name, email, social security number, and address.2 Decentralization is a valuable feature that ensures transactions on the blockchain are visible to connected nodes. It also prevents a single entity from having access to the entire wallet system. This is another feature that is quite different from that of the bankrupt FTX protocol, where a particular entity gained unauthorized access to the central system, stealing around $600 million in crypto from the protocol.3
Besides supporting cryptocurrencies, MetaMask is a versatile product in the marketplace, supporting tokens on the ERC-20 protocol, and storing non-fungible tokens (NFTs) which can be connected with marketplaces such as OpenSea.2 The wallet also supports multiple blockchains including the Build and Build (BNB) chain, Polygon, Avalanche, and more.
Despite having over 30 million active monthly users, there are some downsides.4 The wallet does not support Bitcoin, the largest digital asset based on market capitalization. Being technical, with no live customer support, the wallet may not be suitable for new crypto investors.