MetaMask Wallet Review
MetaMask is a safe browser-based crypto wallet app designed for managing, receiving, and transferring cryptocurrency and tokens from Ethereum, Binance Smart Chain, and other blockchains. It also allows for storing your NFT crypto art and other crypto collectibles. It functions as a browser extension compatible with Chrome, Firefox, Edge, and Brave browsers. Now MetaMask also has Android and IOS apps to support the browser extensions. MetaMask is very safe and has millions of active users and is steadily growing with a loyal following all over the world. With MetaMask you own the keys to your crypto wallet, no third party is involved. And it quickly and seamlessly integrates with browsers providing an overall excellent user experience with minimal hassle when buying, sending, or receiving cryptocurrencies or NFT crypto art. Here's a helpful video explaining MetaMask better:
The Basics You Need to Know
MetaMask was created by Aaron Davis and Dan Finlay in 2016. Since then, it has grown from simply an Ethereum crypto wallet app to one that can support multiple blockchains and tokens from large chains like Ethereum to very small chains like GO which hosts universities and smaller NFT crypto art projects.
What Coins Does MetaMask Support?
The MetaMask crypto wallet app allows you to send and receive Ethereum, Eth-based tokens, Binance Smart Chain tokens, and a host of other coins from different chains. One of the best features of MetaMask is that you can actually customize the chain you want to receive from and accept smaller coins from relatively obscure chains most people don’t use. You might be asking yourself right now, “why would I want to use an obscure chain that nobody uses?” And the answer is simply: cost. Smaller projects use these chains because the transaction fees are extremely low, and many crypto investors seek out those unique, low-cap projects which are sometimes hosted on these small chains.
To see where you can trade all of these different cryptocurrencies, just review our Cryptocurrency Exchange List.
Does MetaMask Crypto Wallet Have Fees?
You need a small amount of Ethereum to initiate transactions using MetaMask. These transaction fees are set based on the network, so if you use a network like Binance Smart Chain, the fees will be different than on the Ethereum chain. It’s really important to understand the differences between the networks and the fees that will be incurred otherwise you can get hit with some seriously high transaction fees. So before you just go and start that transaction, take an extra second to make sure you’re not paying $35 to send $15 in Eth to your friend. And yes, it’s happened to many users before. Crypto wallet apps, different chains, Eth, BSC, it’s all-important to know, and it can mean the difference between an empty wallet and a full one if you’re not paying attention.
It Stores NFT Crypto Art and Collectibles
One of the best aspects of the MetaMask crypto wallet app is that you can store your crypto-collectibles in it and other NFT crypto art you buy in markets like Rarible or Opensea. Once you connect your MetaMask, all you need to do is purchase any crypto NFT art or collectible and it will automatically be shifted into your wallet under the “collectibles” tab. This makes it extremely easy to show your collection to friends, swap them, or sell them to other people directly from the app on your phone. There are a host of new apps on the market that allow you to store your NFT crypto art and collectibles like VEVE and others, but MetaMask stands out because you can add any NFT you bought or someone gifts you.
Apps like VEVE offer licensed NFT crypto-collectibles, but they don’t allow you to add your own collection from outside the app or any non-licensed NFTs that weren’t purchased from them. This is very limiting for some users who want the ability to purchase from anywhere and import their purchases into their crypto wallet app. MetaMask gives you this freedom and flexibility.
Is MetaMask Easy to Use?
There is no doubt about it, if you get a crypto wallet app to store your crypto tokens and collectibles, the last thing you want is to get challenged when you want to use it. Fortunately, MetaMask is one of the easiest wallets to use and the learning curve is relatively small. So it functions very well for noobs in the crypto world as well as seasoned pros slinging Bitcoin daily. The great thing about the MetaMask format is its ease of navigation, you can find literally everything in front of you! there are no “hidden gems” in burger menus or weird settings you need to struggle to find. Things are clearly mapped out and very accessible for you as soon as you open the interface.
Is MetaMask Anonymous?
Well, we’d love to say yes, but mostly, no. MetaMask is a pretty safe alternative to nothing, but it surely isn’t anonymous. So if you require a high level of anonymity in your crypto wallet and transactions, this might not be the best option for you. MetaMask offers some level of privacy but the reality is that the Ethereum blockchain is a bunch of pseudonyms, and if anybody knows your wallet address they can easily do a scan and find out exactly what transactions you’ve done on that wallet and the monetary value of those transactions.
So forget anonymity, your transactions are as open as a can of tuna. That being said, it doesn’t mean you’re a public target for criminals, it just means people can see the transaction and the value. They have no idea who that transaction belongs to unless they know that it’s connected to your wallet. And they definitely, most definitely, cannot get access to your funds.
Is MetaMask Safe?
Just like other software-based wallets, people have been sweating buckets worrying about super hacks, government cyber warfare tools, and other unlikely things to relieve them of their hard-earned crypto. But the reality is far simpler than all those things. The majority of people who lose their crypto don’t lose it to hacks, they lose it to social engineering schemes. That basically means, some criminal in some far-off part of the internet pretends to be someone you can trust and convinces you to give up your seed phrase, which basically acts as a sort of password to protect your crypto in MetaMask and most other crypto wallet apps. When you give that seed phrase away, they can recreate your wallet on their side of the world and steal all your crypto.
MetaMask uses very powerful seed phrases that are supremely challenging to figure out even for the most amazing brute-force hackers, thus keeping your wallet very safe all the time. But effective security is meaningless if you decide to hand over your seed phrase to someone you want to believe will give you free money in some internet scheme. So you can definitely rely on MetaMask for security, it’s solid, but in the end, MetaMask and your crypto have to rely on your good sense to keep everything safe.
How Much is MetaMask?
Well, it’s your lucky day, isn’t it? MetaMask is free. You can download the browser extensions and the apps on the official website.