Metamask Review 2020 –Everything You Need to Know About Metamask

MetaMask is a web-based crypto wallet which lets crypto traders perform varying transactions. While the wallet generously supports Ethereum and ERC-20 tokens, it further allows crypto traders to conveniently send, receive and keep tabs on their cryptocurrencies.

As a web-based wallet, MetaMask works in form of a browser extension that can be used with widely admired browsers including Firefox, Chrome and Brave. MetaMask has been considerably lauded for its excellent functionality and as we speak, the wallet boasts more than 1 million active users.

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♦Setting up Your MetaMask Wallet

MetaMask – Apps on Google Play

It isn’t any difficult to set up your MetaMask wallet. Prettily, MetaMask guarantees you a pleasant experience, courtesy of its user-oriented interface. Even for people who don’t understand English, setting up a MetaMask wallet shouldn’t seem any difficult as MetaMask supports a decent number of international languages.

To set up a MetaMask wallet, you have to visit the official website of MetaMask. Click the link here to visit the official website of MetaMask and download one of the site’s browser extensions. Note that you need a browser extension for the setup of your wallet. Following the download of your browser extension, you should comply with the instructions below to set up your MetaMask wallet:

  • You’ll find a MetaMask icon after launching the downloaded browser. You should tap this icon in order to easily create your wallet
  • Then, you’ll have to create a powerful password
  • Following that, you’ll be shown a 12-word seed phrase which you’re required to keep safely –Note that before you’re able to recover your account, particularly in the event of password loss, you’ll be required to provide this seed phrase
  • Provided that you’ve followed the instructions above, you can rest assured that your MetaMask wallet is ready for sending and receiving digital currencies.

Is MetaMask a Secure Web-based Wallet?

How to Use MetaMask | Binance Academy

One of the things the potential users of MetaMask are very likely to worry about is security. This, of course, is because several web-based wallets out there are vulnerable to security threats.

Security-wise, MetaMask happens to perform excellently well, courtesy of the fact that its security is based on Hierarchical Deterministic (HD) setup. On one hand, HD setup provides a secure means for backing up users’ accounts and on the other hand, MetaMask lets a user recover their hacked/lost account by supplying the 12-word seed phrase generated at the point of wallet setup.

The only observable hitch regarding MetaMask security is the wallet’s vulnerability to phishing. Nevertheless, MetaMask guarantees you a considerable degree of security and prettily, the wallet platform is operated on open-source software which receives support from a substantial number of developers.

As a security-conscious MetaMask user, you’re expected not to view suspicious e-mail messages as well as pop-up ads. While clicking such pop-up ads might expose your sensitive information, the suspicious e-mail messages may have been devised by malicious third parties as a way of luring you into deception.

Exciting Pros of MetaMask

    • MetaMask doesn’t, in any way, store your personal information
    • MetaMask utilizes Hierarchical Deterministic (HD) in providing substantial security for your sensitive information
    • The wallet helps you generate addresses on each transaction, hence preventing third parties from tracking transactions down to your wallet
    • It doesn’t cost you any fee to download the MetaMask wallet

 

What Are the Coins Supported on MetaMask?

MetaMask provides its users with a “custom” widget for them to easily add to the number of coins supported on the wallet platform. This implies that while MetaMask is compatible with Ethereum and all ERC-20 tokens, users are also allowed to specify the coins they would like to trade in.

Conclusion

Hopefully, you now have a clear grasp of what MetaMask is and how it functions. If you’re keenly interested in a web-based wallet well suited for the Ethereum blockchain, MetaMask is likely one

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