MetaMask is a cryptocurrency wallet that lets us store crypto currencies, other ERC-20 tokens, and NFT's(Non-fungible tokens) across multiple networks.
MetaMask is a free and secure browser extension or plugin for accessing Etherium-enabled applications in your browser. MetaMask is like a software wallet rather than a physical wallet (it can be compared with phonepay or Googlepay). Like a physical wallet, we can store our crypto currencies in the form of a software wallet and access them through your browser or a mobile app,which makes it easier to use MetaMask on the go.
Besides, MetaMask also lets users use it for buying crypto currency, sending and receiving crypto,swapping tokens, authenticating and approving transactions, and importing NFT's and tokens.
By using MetaMask, we can create multiple wallets by adding a new account.
We can shift between various networks so we can handle our assets in an ordered way that are on different networks
Is MetaMask safe ?
The MetaMask code source is actually public and has been audited by very curious and talented people across the globe.
Actually, MetaMask does not hold your information on their servers, and your private keys and wallet passwords are stored locally on your machine, so you can have full access to your assets.
- While creating your MetaMask account, you need to create a password that helps you login through it into your MetaMask wallet. Following in position or time, creating your identification, you are directed to the secret backup phrase, which consists of key phrases that are most influential for backing up your wallet. If someone gets that key phrase, your whole account and funds can be compromised.
- We can also connect to a hardware wallet for some extra protection. which makes it difficult for hackers to obtain your assets.
Privacy is always of utmost importance in the world of crypto! The same goes for security. Now, even though MetaMask is a software wallet (it offers hot storage), its encryption and seed phrase make it very tough for potential hackers to penetrate. It’s getting constant patches and updates too, which ought to bring improvements to both privacy and security.