What Is MetaMask and How to Use It?

UTC by John Caroline · 6 min read
What Is MetaMask and How to Use It?
Photo: Shutterstock

Just as anyone would need to have their traditional currencies kept in a purse or wallet, cryptocurrencies cannot be held either without a wallet even though they are digital assets. Let’s learn about MetaMask, an exclusive hot wallet to hold crypto assets.

A lot of crypto enthusiasts harbor the opinion that the decentralized applications ecosystem is quite difficult to operate considering certain complexities that come with the system. Thus, many enthusiasts choose to withdraw from using these decentralized applications. However, MetaMask being a hot wallet exclusive to the Ethereum (ETH) blockchain contains a unique design that seeks to remediate the complex challenges faced with users of many decentralized applications, thereby reducing the barrier of entry to the Ethereum’s Dapp ecosystem and easing the adoption process.

Although there are a number of wallet services available to crypto users, MetaMask has gained traction and become the most popular crypto wallet with a username of over 21 million monthly active users. Its interoperability with apparently all Ethereum-based platforms has boosted its adoption massively.

There’s a lot more to what MetaMask entails and its efficiency in the crypto community. Let’s dive further into understanding what MetaMask is all about.

MetaMask Definition

MetaMask is a free hot wallet in the form of a browser extension that is committed to decentralized applications that are built on the Ethereum network. It basically provides support for Ether and all other ERC-20 tokens, allowing users to safely store them and exclusively make transactions to any Ethereum address.

MetaMask features are similar to any other web browser. It only demands users to simply install the Metamask Chrome extension or Firefox extension on devices like smartphones, personal computers, and the likes, allowing them to enjoy seamless connections to any Ethereum-based decentralized app including NFT marketplaces.

Quite interestingly, MetaMask apparently paves free and easy access for users to experience a new world of exciting opportunities with decentralized applications, web browsing, DeFi, and ultimately blockchain technology.

How MetaMask Works

MetaMask functions as a form of free mobile app for smartphones. It can as well work as an extension for Chrome, Firefox, Brave, and Edge desktop browsers. MetaMask possesses a very easy and friendly user interface that only requires users to simply set up a password and possibly memorize or have the secret recovery phrase noted down. 

It features a design that guarantees a discrete store of user’s information which is well encrypted in the web wallet. Information and assets are locally stored in the wallet, hence they are only accessible to the users via the registered password or the secret recovery phrase. With this, users can easily switch their browsers or devices without the fear of losing access to the wallet as long as they still have the password or recovery phrase within reach.

MetaMask strictly supports Ether and Ether-related tokens. As such, cryptocurrencies that have no connections or relationship with the Ethereum blockchain cannot be transacted or stored on MetaMask.

What Is Special about MetaMask?

MetaMask features different unique qualities which have made it become the first choice of crypto wallet to many crypto users. Its ability to counter the difficulties faced with using decentralized applications has helped many enthusiasts to easily interact with decentralized applications and effortlessly enter into the dApp market.

With MetaMask, users can easily spend their assets in games, stake tokens in gambling applications while also trading them on decentralized exchanges, which is not common with other crypto wallets. MetaMask is considered responsible for the significant expansion of the DeFi ecosystem.

Moreso, it helps to manage space while saving Users from the stress of downloading the Ethereum blockchain to execute transactions. Instead, it sends requests to nodes on behalf of the users outside their computers. Making it easier to send Ether tokens in and out.

Using MetaMask

Since MetaMask deploys a model of simplicity, the process of setting up the wallet is as easy as just having Chrome, a Chromium-based browser such as Brave, or Firefox on the device.

Therefore, to use the MetaMask wallet, a user would need to first download the official MetaMask extensions (i.e the Metamask Chrome or Firefox extension) that suit their browser and have them properly installed on the device.

The next step after installing the extension is to set up your wallet. A splash screen will come up on the device as soon as the installation is successful. This splash screen welcomes the operator to MetaMask. On that screen is a “Get Started” button that channels the user into the process of creating the wallet.

After clicking on the “Get Started” button, the next step is to click on the “Create a Wallet” button that pops up after the first step. Consequent questions on whether the user would want to ‘improve the MetaMask’ would pop up, users can easily reject or accept the question depending on if it catches their interest. However, the process of creating the wallet is as easy as making a few clicks that are self-explanatory to ease the guiding process.

Furthermore, the next important thing to do is to create a password. Users are advised to ensure that they choose a strong and unique password that is most familiar to them alone. A strong password should contain upper and lowercase letters with symbols. It may as well include numbers.

After the password has been created, users will be presented with a secret recovery phrase that contains 12 words. This phrase should be noted down and kept outside the reach of an intruder or third party as it is helpful for recovering a person’s crypto wallet if they lose access to their computer. Successful completion of all of these processes signifies that a user’s wallet has been successfully created.

The process of executing transactions and connecting with Dapp is also easy as the wallet simplifies transactions. All it requires from users who intend to send transactions is to enter the recipient address and the amount to be sent alongside a transaction fee and click on “Send”.

Bottom Line

As said earlier, MetaMask has paved an easy entrance into the emerging ecosystem of decentralized applications. As such, it has become a highly recommendable crypto wallet for enthusiasts who seek to easily store their Ethereum integrated tokens including Ethers. Users who also seek to easily connect and interact with decentralized applications should try to encounter the experience offered by MetaMask. 

MetaMask basically provides a unique avenue for enthusiasts to conveniently tap into the space of DeFi, NFT, and dApps marketplaces without the need for any form of expertise.

Share:

FAQ

What is MetaMask?

MetaMask is a free hot wallet in the form of a browser extension that is committed to decentralized applications that are built on the Ethereum network. It basically provides support for Ether and all other ERC-20 tokens, allowing users to safely store them and exclusively make transactions to any Ethereum address. 

How does MetaMask work?

MetaMask functions as a form of free mobile app for smartphones. It can as well work as an extension for Chrome, Firefox, Brave, and Edge desktop browsers.

Why is MetaMask special?

MetaMask possesses a unique ability that enables it to counter the difficulties faced with using decentralized applications. It helps enthusiasts to easily interact with decentralized applications and effortlessly enter into the Dapp market.

How to install MetaMask?

Installing MetaMask is as easy as just having Chrome, such as Brave, or Firefox on the device and installing the official MetaMask extensions on the browser. Afterward, users can proceed to create the wallet on the browser, securing a unique eight-character password and then note down the backup phrase presented to them.

Is MetaMask secure?

MetaMask is secure as the user’s information is well encrypted in the wallet, even if a user loses access to his/her computer, the user can regain access to the wallet through the password. However, in cases of a missing password, users can recover their wallets through the recovery phrase presented to them via the wallet. Intruders cannot access the wallet as the information is only accessible to the wallet user.

guides
Crypto Slang: WAGMI and NGMI December 4th, 2022

This guide will explore the use of two new slangs named WAGMI and NGMI. These slangs are in direct contrast to each other. The fir...

What Is Proof of Replication (PoRep)? December 4th, 2022

There are so many consensus mechanisms enabled on the blockchain. This guide is based on the one called Proof of Replication (PoRe...