Metamask @̲ Wallet
A safe crypto wallet for digital tokens & NFTs. Join the blockchain and DeFi world. A safe crypto wallet for digital tokens & NFTs.
Last updated
A safe crypto wallet for digital tokens & NFTs. Join the blockchain and DeFi world. A safe crypto wallet for digital tokens & NFTs.
Last updated
MetaMask is also available on the Firefox browser as a Firefox extension. Users of Firefox can download the MetaMask extension here.
Notably, the mobile version provides the same functionalities as the desktop browser-based extensions. As such, it provides secure logins, key vaults, accounts and allows users to browse Ethereum-based DApps using the DApp browser. Despite being a hot wallet, meaning it is connected to the Internet, MetaMask makes it easy to connect with cold wallets like Ledger, CoolWallet, KeepKey and Trezor.
To use MetaMask on Android or iOS, you need to download the MetaMask mobile application on either Google Play Store for Android or App Store for iOS and follow the prompts.
For iOS users, the MetaMask mobile app can be downloaded here.For Android users, the MetaMask mobile app can be downloaded here.
MetaMask provides a default gas fee for every transaction, depending on the status of the Ethereum network. In addition, users are given the option to alter the gas fees and gas limits through an advanced tab that allows parameter customization.The difference between fees and limits is that fees are the cost of processing transactions, while gas limits are the highest transaction costs a user is willing to bet on a single transaction.Note that transaction fees determine the transaction processing speed on the second-largest decentralized blockchain. The higher the prices, the faster the confirmation time and vice versa. MetaMask divides gas fee options into “Fastest, Fast, and Slow.”
Gas fees depend on the congestion on the Ethereum blockchain, which has been a major problem in 2021 to date and a major obstacle for the smart contract network to solve. Note that if you set your gas fees too low relative to the default fee provided by MetaMask, there is a strong possibility that your transaction may get stuck and never get confirmed.
MetaMask’s online nature limits its security level compared to cold storage offline wallets like Trezor and Ledger; however, it beats other wallets in terms of ease of access with the Ethereum DApp world, thanks to its easy setup and availability on both desktop and mobile platforms. In fact, it’s hard to imagine how the DeFi sector would have proliferated to this extent if it weren’t for the MetaMask browser extension.
According to MetaMask, they do not have any control of personal or private data on their servers, and everything is protected or encrypted on the user's browsers and password.However, MetaMask is still considered a hot wallet, as it is a software wallet connected to the internet for storage of crypto assets. Hot wallets are generally considered less secure than cold wallets, which are offline storage of crypto assets on a piece of hardware. These are considered the most secure form of storing crypto assets.
Additionally, the wallet’s option to set the gas limit above or below the average fees gives users the freedom to choose how fast their transactions are processed and how much they have to pay in fees; a functionality unavailable in most crypto wallets.
