Everything You Need to Know About MetaMask Wallet

By  //  March 16, 2022

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MetaMask was released in 2016 and it has been the main Ethereum-based wallet companion of many crypto traders. It is primarily suggested as a beginner’s e-wallet thanks to its user-friendly features as well as high security while also managing to appeal to veterans for its versatility.

Here is everything you need to know if you are considering using MetaMask:

Browser-based wallet and mobile app

MetaMask can come in two forms. Its original form is a browser-based extension that you can install for all Chromium-based browsers. This includes Google Chrome, Mozilla FireFox, and Opera Mini. Its other popular form is a mobile app that you can install for both Android and iOS devices. It also functions as a web browser to let you visit Web3.0 domains that are otherwise inaccessible to regular mobile devices.

Typically compared to Coinbase Wallet

The MetaMask vs Coinbase Wallet is one of the most discussed topics among crypto investors. Both have similar features such as user-friendly functionality as well as access to Web3.0 services but the way each one is executed is different. 

MetaMask has the advantage of being an open-source software so the community decides how it improves and everyone can develop ways to support it. On the other hand, Coinbase Wallet can hold non-Ethereum-based assets like Bitcoin (BTC) and Ripple (XRP). Some people don’t bother comparing them as both wallets can be linked together so users get the best of both.

Basic features and fees

MetaMask has three main features, the first is allowing you to buy directly from partnered exchanges like Transak and Wyre using a debit card or bank transfer. The second feature lets you send your assets using the recipient’s wallet address or scan their QR code using your device’s camera. The last feature is swap where MetaMask converts any of your assets into a desired Ethereum-based cryptocurrency.

Main advantages over other wallets

MetaMask is designed to be as convenient for users as possible and it does so without compromising security. As long as you have a strong enough password, MetaMask is free to use on both private and public Wi-Fi networks. Its encrypted connection lets you safely interact with any website while being completely safe from malware. 

The only way that anyone can access your account is if you give them your password. However, they cannot control your assets even after managing to enter your account as MetaMask is a non-custodial wallet. The private keys required to give permission to move your assets are saved on your device, not your MetaMask account. 

Takeaways

MetaMask is a user-friendly crypto wallet with amazing security features. It is also an open-source software with a large potential for growth and support from the crypto community. MetaMask vs Coinbase Wallet is a popular point of comparison despite both services supporting each other, but it’s a good angle for inspecting either wallet’s strengths.

Its best feature is also having the ability to pair with hardware wallets to provide its features to become a convenient third-party platform for traders and investors, alike.