Crypto wallets, like regular wallets, are used to transact with blockchains. A wallet is a key that allows users to interact with the cryptographic world on a personal level. On the blockchain, it allows users to buy, sell, and transfer assets.
MetaMask is a wallet for Ethereum, the world’s most varied blockchain. It’s the hub for Ethereum’s DeFi ecosystem, non-fungible tokens (NFTs), ERC-20 tokens, and pretty much everything else.
It is available as an iOS and Android app. Users can also use this as an extension with a few different web browsers: Chrome, Firefox, Brave, and Edge.
New Features Alert
From time to time, MetaMask rolls out features that improve its user interface and give its users a more pleasant experience that is easy to navigate. In a recent tweet, the crypto wallet firm announced plans to release an improved interface that would allow users to:
- View their portfolio value and assets across all your accounts
- Enjoy a more intuitive + easier-to-use experience
- Access an improved multi-network experience
The platform did not state when this improved interface would be released,d but users appeared to be thrilled by the news of a better experience on the site.
Popular Features of MetaMask
MetaMask is an extension that allows crypto users to access Ethereum-enabled distributed applications, or “Dapps.”
When a Dapp wants to perform a transaction and write to the blockchain, MetaMask also lets users create and manage their own identities via private keys, local client wallets, and hardware wallets like TrezorTM. Hence, the user gets a secure interface to review the transaction before approving or rejecting it.
Here are some features that make MetaMask stand as a wallet:
MetaMask is simple, quick, and anonymous to use. Users are not even required to have an email address. They have to create a password and memorize and save the secret recovery phrase.
Nobody has access to a user’s information because it is encrypted in your browser. If a user forgets their password, they can recover it using the 12-word secret recovery phase (also known as a seed phrase). It’s especially important to keep the seed phrase safe, as even MetaMask has no knowledge of it. It can’t be found once it’s gone.
Built-in Cryptocurrency Exchange
MetaMask does not allow users to purchase Bitcoin; instead, it exclusively accepts Ether and Ether-related tokens, such as the well-known ERC-20 tokens. ERC-20 tokens are used to create cryptocurrency on Ethereum (excluding Ether).
Restore and Backup
MetaMask saves users’ data on their computers. So, if they transfer browsers or workstations, they can use their secret recovery phrase to restore their MetaMask wallet.
Support from the Community
MetaMask had 10 million monthly active users around the world as of August 2021. Its clear and easy user experience continues to drive these figures up, with a gain of 1800 percent since July 2020.