Be sure to carefully write these words down on paper and keep in a secure place.įinally, re-enter the phrase before completing the wallet setup. Note: If you lose your MetaMask seed phrase, you won’t have a backup for your crypto wallet. On the next screen, MetaMask will reveal a list of 12 words called a seed phrase, which is an easy-to-remember representation of the wallet's private key. To download MetaMask on your desktop, choose one of the following supported web browsers:Īfter this, click Set Up a New Wallet and create a unique password. Due to MetaMask's popularity, countless crypto scammers have released malicious apps with similar names and designs. Just be sure to double-check you're on the official URL- metamask.io-before downloading this wallet. Typically, setting up a MetaMask wallet on a desktop or mobile device only takes a few minutes. MetaMask also has a built-in swap feature to instantly trade between thousands of cryptocurrencies. On MetaMask's Buy tab, you can buy cryptocurrencies like ETH with ACH or wire transfers, PayPal, and credit or debit cards through third-party fiat-to-crypto services. MetaMask connects to most dApps in the Ethereum ecosystem, providing a secure and seamless way to explore the new possibilities in Web3.īuy and swap cryptocurrencies: While some traders prefer sending cryptocurrency to their MetaMask account from a preferred crypto exchange, there are ways to buy digital assets directly through MetaMask. With smart contract technology, dApps don't need a third-party intermediary like a company or bank to approve transactions, which opens countless decentralized online experiences in fields like social media, video games, and finance. Link to hundreds of dApps: While dApps resemble apps on stores like Google Play, these new software applications run on blockchains and use self-executing programs called smart contracts. You also get public key addresses for the cryptocurrencies available on MetaMask, which lets you deposit crypto on your digital wallet without revealing sensitive private info. Transfer crypto assets: With MetaMask, you can send your crypto to fellow crypto users or dApps on decentralized blockchain protocols. You can’t send non-Ethereum-based assets like Bitcoin (BTC), Litecoin (LTC), or Solana (SOL) to a MetaMask address. However, MetaMask only accepts cryptocurrencies on Ethereum and Ethereum-compatible blockchains. Store crypto: The main purpose of every crypto wallet is to securely store a user's digital coins and tokens. It also boasts integrations with the hottest decentralized applications (dApps) and convenient in-app features to convert fiat currency into crypto. MetaMask provides users a secure place to store their digital assets and send them on peer-to-peer (P2P) blockchains. Besides Ethereum, a few other MetaMask-friendly blockchains include: Since MetaMask gives users control over their private keys, it's in a category called self-custodial wallets.Īlthough MetaMask primarily works on the Ethereum blockchain, it continues to introduce integrations with many Ethereum-compatible networks. For instance, if someone breaks an iPhone with their MetaMask app, they use the private key associated with their MetaMask to restore their account on a new iOS device. It also serves as a backup phrase in case traders lose access to their current wallet. In crypto wallets, the private key allows users to exclusively access the crypto stored in that wallet. When traders download the desktop or mobile version of MetaMask, they are given a passcode called a private key. Owned and maintained by New York-based Consensys, MetaMask initially launched as a desktop browser extension before releasing a mobile app for iOS and Android devices in 2020. What is the MetaMask Wallet?Ĭreated in 2016 by programmers Dan Finlay and Aaron Davis, MetaMask is free crypto wallet software that allows users to store, send, and use cryptocurrencies on the Ethereum network and Ethereum-compatible blockchains. Here’s the story behind what MetaMask is, why it's so popular, and how to add its cute fox mascot on a supported web browser. To capitalize on its leading position, the MetaMask team constantly introduces upgrades to make the wallet’s service even more accessible to crypto enthusiasts.įor many traders, MetaMask remains a relatively simple way to buy, trade, and interact with Ethereum (ETH) applications, but there are a few limitations to review before downloading this acclaimed app. With more than 30 million monthly active users, MetaMask is a mammoth in the crypto wallet category and often serves as a crypto trader's gateway into exciting Web3 fields like decentralized finance (DeFi) and non-fungible tokens (NFTs). There's no shortage of crypto wallets for mobile and desktop, but one name towers above the competition: MetaMask.
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