• Advertise
  • Submit a Press Release
  • Contact Us
Blockchain & Cryptocurrencies Tabloid
  • Finance & Blockchain News
  • Bitcoin News

    Bitcoin Surges Past $100K Amid Market Instability

    Bitcoin Surpasses $100K Amid U.S. State Crypto Laws

    Bitcoin Open Interest Surges $2 Billion Amid Rising Volatility

    Hackers Breach Nearly 60,000 Bitcoin Addresses Linked to LockBit

    Federal Reserve’s Tight Policy Affects Bitcoin Growth

    Arizona Governor Enacts Law for State Crypto Reserve

  • Altcoin News
    • All
    • Bitcoin Cash
    • Cardano
    • EOS
    • Ethereum
    • Litecoin
    • Monero
    • Ripple
    • Stellar

    Dogecoin Surges as Whales Move $148 Million

    Meme Coins Rally Amid Anticipation of Trump’s Announcement

    USD1 Stablecoin, Backed by Trump, Climbs to Major Market Position

    Solana’s DEX Volume Surpasses $500 Billion, Eyes $180 Target

    Dogecoin Eyes $0.20 as Binance Traders Turn Bullish

    Trump-Backed USD1 Becomes Seventh-Largest Stablecoin

    Trending Tags

    • Ethereum
    • Bitcoin Cash
    • Litecoin
    • Monero
    • Ripple
  • Crypto 101
    • All
    • Cryptocurrencies
    • Exchanges
    • Services
    • Wallets
    Benefits Of Choosing the Right AI Trading Bot

    4 Benefits Of Choosing the Right AI Trading Bot

    Crypto Trading

    A Beginner’s Guide to Crypto Trading: Unlocking the World of Digital Coins

    BitcoinGames.com

    BitcoinGames.com Introduces the Ultimate Casino Gaming Experience with Bitcoin

    How AI is Helping Athletes and Fans Get the Most out of the Game

    From Training to Judging, AI is Entering the Ring

    Top 5 Websites for Buying Gift Cards with Crypto

    Clutch Savours – Gift Certificates You Can Buy with Crypto

    Layer 2 Blockchains

    Everything You Need To Know About Layer 2 Blockchains

  • Blockchain Events
No Result
View All Result
Blockchain & Cryptocurrencies Tabloid
No Result
View All Result

What Is MetaMask and How It Works

Hellen by Hellen
March 3, 2019
in Crypto 101, Wallets
what is metamask

When most people think about cryptocurrency wallets in general, they rarely associate this type of software with browser extensions. When it was first released in July 2016 by two developers under the name of Aaron Davis and Dan Finlay, MetaMask managed to change this perception as it proved that wallet browser extensions are now a thing.

What is MetaMask?

In short, MetaMask is a very accessible, cross-browser Ethereum wallet that not only lets you connect to the Ethereum blockchain, but to store, send, and receive ERC-20 tokens as well. Usually, MetaMask is used on Google Chrome, but it’s also available for other popular browsers such as Opera, Firefox, and Brave.

How does MetaMask work?

By interacting with the Ethereum blockchain, the wallet also allows you to use various Ethereum dApps directly in your computer’s browser. Since browsers are usually connected to the Internet, MetaMask is considered a hot wallet. Be that as it may, the wallet requires no login, and it does not store your private keys on any server. Instead, your keys are kept securely stored in Google Chrome (or other supported browser’s main folder) with password protection.

If it sounds a bit confusing, it’s worth noting that MetaMask was designed specifically with convenience in mind. It does not change the website you are currently visiting, it just provides a quick way to store ETH and ERC-20 tokens or to interact with the Ethereum network without leaving your browser’s window.

MetaMask makes use of JavaScript in order to inject a web3 object into the page you are currently visiting. Once installed, the extension creates an online vault (your wallet). During its installation, you will be prompted to store the seed words which will be used to restore your wallet in case your browsers crashes or needs to be reinstalled.

MetaMask features

At the start of this review, we mentioned that MetaMask is available for multiple browsers, the fact that it allows users to develop and access various dApps, and the fact that it supports ETH and all ERC-20 tokens. However, the wallet has much more to offer.

One of the most useful features is the fact that MetaMask allows you to buy Ether with no more than a few mouse clicks. The wallet boasts integration with Coinbase and Shapeshift, two of the most popular crypto exchanges.

Since Ethereum relies on GAS, MetaMask allows you to customize the GAS limit and prices. In short, MetaMask is making it very easy for you to pay custom fees for transactions over the Ethereum network.

The wallet also features support for various languages, matching the Ethereum status of a decentralized project. Currently, it offers support for 18 different languages.

MetaMask fees

MetaMask charges fees depending on your GAS price. The default price for fees is somewhere around 21 GWEI. The main idea is to work around the GAS price and not the GAS volume.

How to Use MetaMask Wallet?

Getting MetaMask up and running on your computer is not at all difficult. For the sake of this mini-guide, we will be using Google Chrome as the designated browser. Start by installing the MetaMask extension from the Chrome Web Store. During its installation, you will be prompted to provide a password used to encrypt your data.

The next step involves taking note of the 12-word recovery phrase displayed. It’s important to securely store this seed phrase since it’s the only way to actually recover your funds in case something goes wrong.

Once the wallet is installed, you can transfer funds. To do this, you have to get your MetaMask address and add it in the “To Address” field.

Is MetaMask safe?

Even though MetaMask is indeed a “hot” wallet, it’s a very secure one. MetaMask encrypts your password and seed phrase. Note that your private keys are not stored on any servers (but on your computer’s browsers).

The wallet is only available for the best browsers currently on the market, which should also be a very good extra point for security. Unfortunately, MetaMask doesn’t have two-factor authentication and multi-signature capabilities. Finally, the feedback from the community is a very positive one, making it a reliable wallet.

Final words

Even though it might seem like an odd pick at first, MetaMask is, in fact, a very reliable and secure ETH wallet. Since its launch, it had its fair share of controversies with various people losing their money. However, the team behind the project seem to be taking all of this very serious and the wallet has become better with time.

It’s also one of the most accessible and user-friendly alternatives on the market, which recommends it as the first choice for beginners as well.

Tags: Cryptocurrency Walletethereum wallethot walletMetaMaskwallet browserwhat is MetaMask
Previous Post

Beginner’s Guide to the Three Types of Stablecoins

Next Post

USD-to-Crypto Lending Platform Will be Adding Ripple (XRP) Support

Hellen

Hellen

Related Posts

Benefits Of Choosing the Right AI Trading Bot

4 Benefits Of Choosing the Right AI Trading Bot

by Hellen
June 24, 2024

With all the hype surrounding AI, it doesn’t come as a surprise that people are using it to come up...

Crypto Trading

A Beginner’s Guide to Crypto Trading: Unlocking the World of Digital Coins

by Hellen
March 13, 2024

Cryptocurrency trading has emerged in digital finance, offering intriguing prospects to investors who wish to participate in digital currencies. We...

BitcoinGames.com

BitcoinGames.com Introduces the Ultimate Casino Gaming Experience with Bitcoin

by Hellen
January 23, 2024

In an exciting new development in the cryptocurrency realm, an innovative online platform, Bitcoingames.com, has emerged, revolutionizing the world of...

How AI is Helping Athletes and Fans Get the Most out of the Game

From Training to Judging, AI is Entering the Ring

by Hellen
December 7, 2023

AI is having a heyday. With the rapidly decreasing costs of creating custom AI models, people are scrambling to tailor...

Top 5 Websites for Buying Gift Cards with Crypto

Clutch Savours – Gift Certificates You Can Buy with Crypto

by Hellen
October 31, 2023

We're all pretty much on the same page when we say that crypto isn't just about investments and savings. It's...

Layer 2 Blockchains

Everything You Need To Know About Layer 2 Blockchains

by Hellen
October 23, 2023

Introduction When it comes to the core design of a blockchain network, developers may not necessarily apply updates in the...

We Recommend

Top Rated Casinos
Bitstarz Casino

BitcoinCasino.io
Top Crypto Betting
1xBit.com
Top Rated Exchanges
Binance Exchange

Bityard.com
Top Advertising Services
Coinzilla Display Network
Top Crypto Wallets
Ledger Nano X

  • Terms and Conditions
  • Privacy Policy
  • Advertise
  • About Us
  • Contact Us

© 2018-2019 theccpress.com by Brantell Media.

No Result
View All Result
  • Finance & Blockchain News
  • Bitcoin News
  • Altcoin News
  • Crypto 101
  • Blockchain Events

© 2018 - 2019 theccpress.com, a Brantell Media project.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.