If you’re interested in cryptocurrencies, you’ve probably heard of MetaMask. But just because you know something doesn’t necessarily mean you understand it completely. So what is MetaMask?
MetaMask is a simple browser extension developed for easy access to the Ethereum ecosystem of apps. It is like any regular plugin, but also holds ERC-20 tokens. This allows its users to use services on the network through their wallet. It simply allows them to trade with any Ethereum address.
If you don’t know, Dapp caused the blockchain crash in December 2017. As it dropped more than 1.3 million transactions, its user numbers plummeted into the hundreds. But MetaMask is making the Dapp system easier!
What is MetaMask on the blockchain?
MetaMask is a software cryptocurrency wallet that is primarily used with the Ethereum blockchain. It is funded by ConsenSys and works like any other browser extension. It allows users to accumulate Ethereum and ERC-20 tokens. This allows them to make transactions.
Is MetaMask a wallet?
Yes, MetaMask is a wallet for browsers like Chrome, Firefox, and Brave. It is also a browser extension. This makes it work as a bridge between classic browsers and the Ethereum blockchain.
What is the purpose of MetaMask?
MetaMask works like any other browser extension. It is primarily used for Ethereum-related activities. It is also a extension in Chrome or Firefox, but primarily it is still a cryptocurrency wallet with which you can send and receive Ethereum and other tokens.
What currencies can be stored on MetaMask?
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Tether (USDT)
- Basic Attention Token (BAT)
- USD Coin (USDC)
- ERC-20 tokens
Can you use MetaMask on mobile?
As a browser extension, MetaMask does not work on mobile, so it will suit you better if you have access to a computer all day. But MetaMask can at least be replaced on mobile with similar programs.
Is MetaMask safe?
Yes! MetaMask does not have any of your personal data on the server. Everything comes to your browser encrypted and password protected too. You don’t even have to worry about losing your account, you just need to use an encrypted phrase to restore it if necessary.
How do you send tokens via MetaMask?
If you are thinking about sending tokens via MetaMask, you need these two things first:
- The address you want to send the tokens to
- A sufficient amount of Ethereum in your wallet
Next all you need to do is this:
- Under the “Assets tab”, click on the token you want to send
- Click “Send”
- In the “Add Recipient field”, fill in the address you want to trade with
- In the “Amount field”, fill in the amount of tokens, you wish to send
- We recommend that you double check all the information you have filled in before clicking on “Next to proceed with the transaction”
- Click on “Confirm to send”
- You will now be redirected to the main page where you can check all past transactions
How to get tokens into MetaMask
- Open MetaMask and click on the “burger” icon
- Click on “add token”
- Select the “custom token” tab
- Fill in the “token address”
- Click on “next”
- Click on “add tokens”
MetaMask offers a simple approach for Ethereum users who are always at their computer. Quite a few people find using Dapps difficult, and MetaMask gives them a slightly more accessible alternative. Even so, before you start doing anything with MetaMask, you’d better make sure you understand all the processes involved so you don’t have problems later.