One of the most well-known crypto wallets, MetaMask often gets chosen by novice crypto traders and investors for two main reasons: the wallet is user-friendly and free. However, a crypto wallet must be a little more than just a convenient way to overview your assets. In this article, we are going to provide a brief review of what MetaMask has to offer in terms of security measures and additional features.
MetaMask is a customizable wallet for cryptocurrencies created by ConsenSys Software Inc., a major developer for the Ethereum blockchain. The wallet supports ETH and all Ethereum-based tokens such as ERC-20, ERC-721, and so on. MetaMask was created as just a browser extension for Firefox and Chrome, but then scammers started creating their own fake versions of the extension.
The company had to release an official app for iOS and Android, so now you can download it on your device to use the wallet everywhere you go. However, the developers recommend that you install both the app and the extension for more security. The wallet easily synchronizes with any crypto platform or decentralized exchange like Binance, so it’s really a great option for novice crypto traders.
Features and options
One of the most important features of MetaMask is that the wallet supports all coins across the entire Ethereum network, including TRON, OMG, BNB, and many others. The complete list of tokens which you can handle with the wallet can be found on the official website. But what’s especially great is that there’s also an option to buy and sell any NFTs with the extension, and you can access them in your app. And you don’t have to pay extra for your transaction, just the regular amount of gas.
The only thing that costs extra is the swap option: you can exchange one token for another for about 0.875% of the transaction sum. You can use the wallet to sign up for any decentralized apps on the Ethereum blockchain, including P2E-games. All in all, the wallet seems to cover every possible area of your day-to-day crypto needs. However, we can’t consider this MetaMask wallet review complete without talking a little bit about security.
The wallet has 3 different levels of security: a password, private keys, and a seed phrase. The most important of them is your seed phrase: if you lose your password or keys, the phrase can be used to restore access. And if you keep all three safe, hackers won’t be able to break into your wallet: while MetaMask exists for about a decade now, nobody could hack it yet.