MetáMask wallet- A Suitable Ethereum wallet for Defi, web3, and NFTs

belonging to the category of software crypto wallet, MetáMask wallet works best for all those cryptocurrency traders who are interested in working on the Ethereum blockchain and wish to test their trading skills in the field of NFTs and Defi. With this wallet in your access, you will be able to store and manage Ether and ERC20 tokens easily.

As you might already know, this wallet is available in two different formats i.e. you can access it through its web browser extension, and at the same time, you can use it on your mobile phone through its mobile application. 6 years ago, when the MetáMask wallet was first released in the marketplace, it was not trusted and used by traders on a large scale as compared to the current time. And, today, it has turned out to be one such wallet that is being used at unexpected levels giving unexpected results to its users.

However, new users still would like to know the in-depth details of this wallet service. So, let us now have a sneak peek into it and try to bring forth the important details that would help you use it in the best way possible.

Who should use the MetáMask wallet? Is it good for beginners?

As already mentioned in the previous sections that MetáMask works only for cryptos developed over the Ethereum blockchain, therefore those users who are interested in Ethereum should use it. there are a few notable benefits of the usage of this wallet i.e. you can easily link with hardware wallets such as trezor or ledger wallet. Along with that, the most interesting thing about its usage is that it works best for beginners as it is highly user-friendly and is not complicated to use. one more thing that one cannot avoid talking about this wallet is its “safety” factor. Yes, the MetáMask wallet is highly safe as it does not have any access to your private keys and you are the sole owner of MetáMask wallet login credentials.

With that understood, let us now have a look at the procedure to set up a new wallet on the MetáMask platform. But, first, let us have a look at the crypto assets that you can work with on this wallet.

List of supported cryptocurrencies 

You will be amazed to know that MetáMask supports a long list of crypto assets and here are a few of them:

• Ether
• Augur
• Gnosis
• Brave’s Basic Attention Token
• Compound
• Badger DAO
• USDC
• Tether
• GUSD
• PAX
• Yearn Finance

A walkthrough to set up the MetáMask wallet

To set up this beginner-friendly and free wallet, you can follow the stepwise guidelines that are present just below. Prior to setting up the wallet, you need to make sure that you have undergone the necessary research and ensure that this wallet is the right one for you:

1. Here, your first step would be to decide if you want to use its extension or the app
2. To get the extension added to your browser, you need to visit the MetáMask.io website
3. On the flip side, you can use the Application Store on your mobile to get the wallet app downloaded
4. Followed by that, it’s time that you launch the extension/ wallet app
5. Next up, you can click on the “Get Started” > “Create a new wallet” option to begin setting up your MetáMask wallet login credentials
6. This means you can now create the login password for your wallet
7. This shall take you to a screen where the wallet’s secret recovery phrase will be shown along with the guidelines on saving it
8. As the final step, type the secret recovery phrase when prompted and you are good to use it

Is it safe to use a MetáMask wallet?

Since MetáMask does not store your private keys in its databases, therefore you can consider it one of the safest wallets available today. Along with that, it is said to be using high-end encryption methods. However, due to its popularity among the masses, it is one of the favorite targets of hackers. Therefore, it becomes the responsibility of the users to undergo some security practices to ensure the wallet remains away from the prying eyes.

How to log in to MetáMask wallet with a password?

After setting up the MetáMask wallet login credentials, you will be asked to enter the password each time you wish to set up the wallet. To log in to MetáMask with the password, you just need to type the password whenever prompted. However, when you open MetáMask on another device or a new device, you will need to restore the wallet using the secret recovery phrase.