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28 Jul, 2023

MetaMask

An online digital wallet serves as an extension to a regular browser, enabling users to manage, transfer, and receive Ethereum cryptocurrency.

What is MetaMask?

MetaMask is a cryptocurrency wallet that operates as a plug-in for standard internet browsers such as Chrome and Firefox. It allows users to manage, transfer, and receive Ethereum and ERC-20 tokens without the need to download the entire blockchain.

Furthermore, MetaMask allows interaction with smart contracts and decentralized applications (dApps) without the requirement of running a full Ethereum node.

View our in-depth Metamask review here

Metamask history

The wallet was created in 2016 by ConsenSys, a Brooklyn-based blockchain software company specializing in Ethereum-related tools and infrastructure.

While web-based wallets are often considered insecure, MetaMask employs HD backup settings and benefits from regular updates by its team of developers who maintain its open-source code.

A notable feature of MetaMask is its use of a 12-word phrase, which users must keep secure or remember as required in case of password loss.

Although MetaMask has gained popularity in the cryptocurrency community, it previously lacked an official mobile app, which led to the development of phishing software posing as MetaMask’s mobile application by malicious actors.

NB! If you are interested in other hot wallets, we have curated a list of the best online wallets in the industry.

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