MetaMask Wallet - Why is it trendy among Investors?
MetaMask is a blockchain technology company that was launched in 2016 by ConsenSys. It makes connectivity easier between the various dApps, online gaming, DeFi assets, and the users. This blog will explain why you should use a MetaMask Wallet account.
Reasons to Use the Wallet
Though MetaMask also has some negative points, today we are first focusing on its positive aspects.
Following are the reasons for its popularity among the traders:
- Easy Interface for Beginners
The process of creating a new account is easy. But before downloading the MetaMask extension one must know about the browsers it is compatible with Brave, Mozilla Firefox, Google Chrome and Microsoft Edge.
- Top notch Security
While creating the account MetaMask will also provide you with a 12-word Secret Recovery Phrase. Remember to store the given phrase with the utmost security. Because later on only this Pharse will help you out in the process of account recovery. And also remember that MetaMask will never ask for your email verification, because MetaMask does not ask you to link your email with them. Therefore, if you receive any email for account verification then it is most likely a phishing scam.
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Easy transfer and buying of Ethereum-based tokens
This wallet is specially designed for the Ethereum networks only, so trading in Ethereum networks will be easy for the users. Ethereum blockchain has a native coin known as Ether (ETH) is also supported by the MetaMask. The rest of the tokens which are made on the Ethereum blockchain are called ERC-20 tokens. For instance, Shiba Inu (SHIB), BitFinex LEO (LEO), USD Coin (USDC), Binance USD (BUSD), Tether USD (USDT), and many more.
- Access to dApps
The main purpose of this platform is to make decentralized applications easily available. Through MetaMask a user can have easy access to NFTs, online games, and dApps that are based on the Ethereum blockchain. MetaMask Wallet connectivity with dApp is also very convenient for users who want to purchase ETH using their credit card and then spend it on their dApp through the wallet.
Pricing of MetaMask Wallet
This platform is available for free to the users but some additional charges may apply for using certain services. Receiving of digital assets on MetaMask can be done for free but some charges may apply for swapping, selling and buying of digital assets.
0.875% of fee is charged for swapping assets. Also paying of gas fee is also required and the user have the option to add some amount as a tip to speed up the transaction on the blockchain. Though adding of tip is optional and not mandatory.
Summing it Up
As of now, there are over 21 million active users of the MetaMask Wallet worldwide. And the number is still increasing because of its increasing popularity for its seamless and secured transactions. This wallet is generally preferred because it is a non-custodial wallet so the data of the user here will not be sent anywhere on the Central server for record maintaining. So, you should give this wallet a try.
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