Metamask is software that is available both as an application as well as an extension. This software is a digital wallet used for storing cryptocurrency. It can easily interact with the Ethereum based cryptocurrency. If you are looking for information regarding Metamask you have come to the right place. Here, you can learn many things about the Metamask.
Metamask wallet offers many functions to its users such as storing and managing account keys. It also allows to broadcast or perform transactions of any Ethereum based coin. This software also helps you to connect to many decentralized exchanges. And, helps in finding the best rate among all of these exchanges.
History of Metamask
This software was created by a company called ConsenSys in 2016 as a browser extension. Back then, the google browser extension was only supported on the desktop. And, even on a desktop, it was only supported in the chrome and firefox browsers. However, In 2019 a beta version of the Metamask app was released for beta testing. And later, in late 2020 the official app was released. But only in 2021, this app was available on mobile devices. Now, it can easily be accessed through the play store in android or the app store in IOS.
Creating a Metamask account
You can easily create an account through the website or app. Here is a guide on how to create an account. Firstly, install an app or download the extension for your browser. Click on the Metamask to go to the official website. After that, click on the download button on the top right. Now, click on the install Metamask button. After this, you can create your account by adding all the required information.
You will have to add your name, contact number, email Id, password, etc. When you add a password make sure that you add a strong one, to avoid any kind of hacking. You should add a password that is hard to guess and is at least 8 characters long. This provides extra security to your account Now, move to the other page by clicking on ” create account”.
After that, you will get a 12-word seed phrase. Now, copy it to somewhere safe and click on “I’ve copied it somewhere safe”. Then, finally, your account is created and now you can use it for various purposes.
Logging in to Metamask is also very easy. You can easily log back in by clicking on the fox on the website. After this, you will have to enter your password. You can log in to many devices for your convenience as well.
Advantages of the Metamask wallet
The several advantages of using Metamask are:
- Since it is an open-source software there is a huge team contributing towards its development.
- It assists users in backing up their accounts using hierarchical deterministic settings.
- It has great customer support, making it convenient to use.
Frequently asked questions (FAQs)
What to do if you forget your password?
In our daily life, we might sometimes end up forgetting our passwords. This could cause a huge problem as your investment is stored in this software. But, Metamask has made it easy to recover your account without a password. The account can be recovered using the 12-word seed phrase provided. This Phrase is provided when you create your account. With the help of it, you can easily log in to your Metamask wallet without any problem.
Does Metamask support Binance?
Although it primarily was created for interacting with the Ethereum coins, it can connect to the Binance. Binance coins are leading competitors of the Ethereum coins. Thus, you can easily make transactions of the two leading crypto chains through the Metamask wallet. You can easily add Binance coins to the Metamask wallet by clicking on the custom RPC. But, you will need the Mainnet fields.
Is Metamask secure?
Ever since Metamask was created, there has not been any major hacking due to its great security system. Metamask does not record your information but, it doesn’t ensure that your browser doesn’t as well. As you know, most browsers like chrome collect your information. So, there might be a little risk to your privacy while using this browser extension. And, even with the high security, It has a chance of getting hacked.
From this article, we can learn many things about the Metamask wallet. You can learn how to create your Metamask account and the advantages. This software can be a great digital alternative to the many crypto wallets available. While using this wallet, make sure you use genuine software to avoid any kind of fraud. There are many fraud apps and websites of Metamask used for Phishing
|Grade||Percentage||Evaluation||Grade in points|
|E||Scoring between 0 to less than 20%||Very insufficient||0.0 - 0.08|
|D||Scoring between 20 to less than 30||Insufficient||0.8 - 1.2|
|D+||Scoring between 30 to less than 40||Partially Acceptable||1.2 - 1.6|
|C||Scoring between 40 to less than 50||Acceptable||1.6 - 2.0|
|C+||Scoring between 50 to less than 60||Satisfactory||2.0 - 2.4|
|B||Scoring between 60 to less than 70||Good||2.4 - 2.8|
|B+||Scoring between 70 to less than 80||Very Good||2.8 - 3.2|
|A||Scoring between 80 to less than 90||Excellent||3.2 - 3.6|
|A+||Scoring between 90 to 100||Outstanding||3.6 - 4.0|