What is Metamask?

What is Metamask? A step-by-step guide for beginner’s to get started using Ethereum and other blockchains.

What is Metamask?

Metamask is a cryptocurrency wallet for interacting with Ethereum and other blockchains. It can be used as a browser extension and app to create wallets that hold your cryptocurrency.

It allows users to manage accounts and keys while isolating them from the site context. This is a security improvement over storing the user keys on a single central server, or locally.

You can install it as an app on your phone or as a browser extension.

What does Metamask do?

  • Create a wallet that can hold Ethereum and tokens.
  • Interact with Ethereum and other blockchains.
  • Send, receive and swap between cryptocurrencies and tokens.
  • Buy cryptocurrencies with debit/credit card

Full walkthrough on how to use it here.

Installation:

Is Metamask safe?

Short answer: pretty safe. There are varying degrees of safe. It is the most used, well known and trusted Ethereum wallet. Although someone would probably not be comfortable holding millions of a dollars in a browser extension.

Safety Measures

  • Use a separate computer for signing transactions (literally a laptop solely for that)
  • Keep your seed phrase on 2-3 papers in different locations
  • Use a hardware wallet
  • Use in combination with a multi-signature wallet, like Gnosis Safe, is a good extra safety layer.

Safety Pros

  • Keys isolated from site
  • Can be used with hardware wallet

Safety Cons

  • Run by a centralized company
  • Recently went closed source.

Read and change all your data on the websites your visit

This pops up when you install then extension. In order to access web3 it needs to inject javascript on the page.
You could create a browser profile solely for Metamask and flip between profiles when you’re not using it.

General computer security

For normal users the largest security threat is probably how aware the user is of computer security in general.


Healthy practices involve

  • Not clicking links you’re not familiar with
  • Not installing software you’re not familiar with
  • Checksum on any executable files
  • Not opening files sent to you that you’re not sure about
  • Double-checking addresses in the browser

What coins does Metamask support?

Ethereum was the first network to be supported by Metamask. Now it can be used with several blockchains like:

  • Ethereum – ETH and ERC-20 tokens.
  • Binance Smart Chain – BNB and tokens
  • xDai Stake – xDai and tokens
  • Matic Network
  • Huobi Eco Chain
  • Fantom Opera
  • Avalanche Mainnet


For now you can’t store Bitcoin in the wallet. You would first need to wrap your Bitcoin to wBTC or tBTC and transfer it to Ethereum for example.

Coins Metamask can’t hold

  • XRP
  • Cardano
  • Bitcoin
  • Dogecoin

Q & A

What is Metamask?

Metamask is a a browser extension and app for interacting with Ethereum and other blockchains. In Metamask you can create a wallet that holds your ETH and other tokens.

What does Metamask do?

Create wallet. Send, receive, swap between cryptocurrencies on different blockchains. Buy cryptocurrency with credit/debit card.

Is Metamask safe?

Short answer is: pretty safe. If you use it with a hardware wallet, secure your seed word, practice healthy behaviour around links and installs. You’re probably fine.

Can I use Metamask on my phone?

Yes. It’s available for iOS and Android.

 

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