Crypto wallets are essential if you are serious about holding cryptocurrencies. Even though exchanges invest a lot in security, it has happened many times that an exchange has been hacked and money has been lost. It is a good practice to start holding your crypto in your own custody from the beginning. It is not said without reason: Not your keys, not your coins.
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What is MetaMask?
MetaMask is one of the most popular crypto wallets out there. It is a soft wallet, meaning it is software-based and you need the internet to access it. You can access MetaMask through the mobile app or browser extension. MetaMask allows users to buy, send, and receive Ethereum-based cryptocurrencies. Users can also connect to decentralized applications (DApps). The wallet is protected by the private key and can be recovered by a secret recovery phrase that consists of 12 words.
MetaMask is officially launched in 2016 and became one of the most used crypto wallets with more than 10 million monthly active users. It is supported by more than 50 languages and is available on 4 browsers: Chrome, Firefox, Brave, and Edge.
MetaMask’s community and knowledge base
MetaMask has a strong community and good knowledge base that contains all the necessary guides for beginners. For those who have difficulty, there is a FAQ section and they even provide users with 11 rules to keep their wallet safe.
Is MetaMask safe?
MetaMask is a very safe type of online wallet. It is one of the most common crypto wallets and has been in use for some time now. It has a growing base of monthly active users and a developed community that is constantly auditing its open-source code. According to Reddit and Quora, there hasn’t been any major hack incident. The biggest concern for a MetaMask user comes from scammers that are trying to get your private key or recovery phrase.
Best tips for the safe use of crypto wallets
Never share your private keys
Never and by that I mean never and for no reason should you share your private key or secret recovery phrase. You are the only owner of the wallet and you should be the only person having access to it.
Use secured internet connection
When using the internet there is always a risk for your data privacy. The best practice is to use a safe connection and visit secured and verified websites.
Store your keys safely
It sounds stupid but it is worth noting that you should store your private keys somewhere safe where other people do not have access.
If it’s too good to be true…
Beware of scammers offering you unreal amounts of money or free crypto.
