What is a MetaMask? - Kakiforex.com - Financial Market Media No. 1 in the World What is a MetaMask? What is a MetaMask?

May 12, 2021

What is a MetaMask?

 Venturing into the crypto sector, investors will not miss out on MetaMask. Wherever there are websites that provide information about crypto tokens, there is also information or advertisements related to MetaMask.

What is a MetaMask?

In general, MetaMask is an Ethereum wallet that is open-source and it supports various types of tokens according to the ERC-20 standard or non-fungible tokens (NFT).

This plugin is installed like any other plugin and its use in addition to storing Ether (ETH) and ERC-20 tokens, investors can make transactions to any Ethereum address.

Not only that, by linking this wallet with Dapps on Ethereum, users can spend their coins in games and trade on decentralized exchanges like Uniswap.

Easy to install MetaMask. Whether it’s Google Chrome, Brave or Firefox, you’re free to choose at your convenience. For mobile devices, it is available on iOS and Android.

Interestingly, MetaMask can also be linked to other wallets such as Trezor and Ledger.

As an amateur to this plugin, users MUST copy and save the Secret Backup Phrase once they register as this is the ONLY way to restore your account in case something undesirable happens.

Another thing you need to care about is privacy. MetaMask is a hot wallet that appears on devices connected to the internet which is very high risk.

Due to that it is highly recommended to be sensitive in granting access to any website as the storage and records of transactions performed have a high potential for leakage on suspicious websites.

MetaMask features simple and easy -to -use features. So, it’s no wonder why it’s the top choice of most crypto investors.

But investors need to remember, every advantage has its disadvantages. And that shortcoming can be overcome if you invest carefully.