The following guide will dive into the features on MetaMask, how to install and use MetaMask and whether MetaMask is safe.
MetaMask: A Brief History and Key Features
MetaMask vs Trust Wallet
How to Install and Use MetaMask?
Install MetaMask Chrome Browser Extension
On the next dialog box, you can either agree or disagree to help “Improve MetaMask.”
Next, you will be prompted to create a password. MetaMask considers a strong password to have a minimum of eight characters including letters, numbers, and symbols. Hit “Create,” and then write down the seed backup phrase, which contains 12 words.
Save MetaMask Seed Phrase and Backup Seed Recovery
It is recommended that you always write a seed phrase down and keep it somewhere safe from other parties. Also, it is highly advisable to never keep a digital copy of your backup phrase, also called a seed recovery. If anybody gains access to it, they can and will likely clean out your wallet by importing the seed to another wallet and gaining full access to your funds.
The backup phrase will be your only way to recover your wallet in the event that you forget your password, your device gets damaged, or if you want to open MetaMask on another device. Clicking the “Next” button takes you to the “secret Backup Phrase” confirmation page.
Here, you need to enter the phrase in precisely the same order it was presented. After which, hit “Confirm.”
After a successful confirmation, the setup process takes you to the last page, where you click “All Done” to complete the setup process. Consequently, you’ll be automatically logged in, ready to interface with the Ethereum ecosystem.
When logged out, click the MetaMask icon on your browser and use the login credentials to access the wallet again. Note that the icon usually appears in the upper right corner of the browser.
MetaMask Wallet Features
Inside the wallet, you can access your funds on the “Assets” tab and track your activity on the “Activity” section.
To use MetaMask on Android or iOS, you need to download the MetaMask mobile application on either Google Play Store for Android or App Store for iOS and follow the prompts.
What Are the MetaMask Fees?
Gas fees depend on the congestion on the Ethereum blockchain, which has been a major problem in 2021 to date and a major obstacle for the smart contract network to solve. Note that if you set your gas fees too low relative to the default fee provided by MetaMask, there is a strong possibility that your transaction may get stuck and never get confirmed.
Is MetaMask Safe?
MetaMask’s online nature limits its security level compared to cold storage offline wallets like Trezor and Ledger; however, it beats other wallets in terms of ease of access with the Ethereum DApp world, thanks to its easy setup and availability on both desktop and mobile platforms. In fact, it’s hard to imagine how the DeFi sector would have proliferated to this extent if it weren’t for the MetaMask browser extension.
Additionally, the wallet’s option to set the gas limit above or below the average fees gives users the freedom to choose how fast their transactions are processed and how much they have to pay in fees; a functionality unavailable in most crypto wallets.