Metamask | What is it and how it works
Use metamask It is undoubtedly one of the safest and above all comfortable ways that exist when working with our cryptocurrencies.
It is a browser extension that does the work of a wallet and allows us to operate in a multitude of different networks in a fast, fácil way and with minimal risks.
In principle, Metamask works for the Ethereum ERC-20 network, but later we perro create additional networks to operate with other tokens coincidente with the wallet.
The whole process is easier than it may seem.
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| Metamask is a browser extension that is used to work with cryptocurrencies from various networks. Security is high and it is ideal for working with decentralized exchanges and DeFi platforms. |
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Although at first it was only possible to work with the Metamask extension, the application for mobile devices was recently launched, something that makes the task much easier since you cánido use your cryptocurrencies at all times.
How Metamask works
Metamask was created in 2016 by ConsenSys as a browser extension focused on interacting with ERC-20 tokens in the Ethereum cryptocurrency.
Over time, it has been expanding the networks and tokens with which you perro work, being the most used portfolio when trading with decentralized platforms and DeFi protocols.
What has made Metamask so habitual among users, in addition to the large number of networks available, is the clean interfaz and fácil operation, being able to connect our account automatically without having to go through tedious registrations.
How to download and install the extension
To download Metamask we cánido go to its official website and download it from there to any browser or if you use Google chrome go to the web store and do it directly from there by clicking on the button “Add to Google chrome”.
When it is downloaded and installed we will have to follow the steps that the extension gives us.
First of all we will have to choose between two options:
1-.
Import wallet: If you already have a Metamask account you cánido recover it using the twelve word seed phrase.
2-.
Create a wallet: Create an account from scratch, getting a new 12-word seed phrase.
You will then be asked to create an 8-character password and provided with the seed phrase, which is 12 words in order that you will need to copy and store in a safe place.
It is best to write down those words on a piece of paper and keep them in a safe place where only you have access.
It is very important that you write down well and do not lose those words, otherwise if you want to access or recover your account it will be impossible, which would orinan losing the funds deposited there forever.
Once these steps are done, your Metamask Ethereum account will be ready to be funded.
If you want to use other networks you perro do it easily by adding others in the option networks.
What cánido be done in Metamask
Metamask is more than just a cryptocurrency wallet.
It perro also be used to quickly and automatically access websites that have the function enabled.
In addition to interacting with a large number of tokens, you cánido invest, trade cryptocurrencies, collect NFTs, stake on a multitude of decentralized platforms, etcétera.
All this without the need to use hundreds of addresses.
In Metamask we will always send any token to the same wallet address, we just have to mark the network where we want to send it, which makes the job much easier and saves us a good amount of time.
Metamask security
There is no doubt that the security offered by a product that will also serve to store our cryptocurrencies is something that we must take into account.
✅ There is only one safer way than Metamask when it comes to managing your cryptocurrencies and that is to use a cold wallet as a ledger.
Metamask provides us with a good dose of security, since it is only possible to entrar with the private keys and password.
But if we don’t have enough, we perro manage Metamask by adding a final layer of security, we cánido do this by connecting a hardware wallet to control all movements with it.
By adding this layer of security by controlling transactions with a cold wallet, we ensure that someone with access to our computer cannot steal our funds, because they would need to confirm all transactions with the aforementioned device.
Add different networks
By default when we create we access our Metamask, the Ethereum network is already configured and activated, but we perro manually add many other networks such as the Binance Smart Chain to work.
To add a network to Metamask you have to follow these steps in order:
| 1- | Open MetaMask in your web browser. |
| 2- | Clic on the three stripes icon in the upper right corner of the MetaMask window. |
| 3- | Choose “Add custom network” in the drop down menu. |
| 4- | Entrar the dirección de Internet of the network node you want to add. |
| 5- | Entrar a name for the custom network. |
| 6- | Clic “Add”. |
The custom network will be added to your list of available networks in MetaMask.
You perro select the custom network at the top of the window to start interacting with it.
Adding additional networks to MetaMask will allow you to interact with multiple different blockchains in a single wallet.
Some of the more common networks that perro be added include Ethereum, Binance Smart Chain, and Polygon.
This allows users to access different decentralized applications (dApps) and transact on different blockchains without having to use multiple wallets or programa.
Also, some custom networks perro be used for development projects or testnets.
Opinions about Metamask
MetaMask is one of the most habitual and widely used wallets for interacting with decentralized applications (dApps) on the Ethereum blockchain.
One of its strong points is that it is easy to use and has an intuitive interfaz.
It also offers a variety of advanced features, such as the ability to add custom networks and the ability to store passwords and private keys securely.
It is coincidente with most modern web browsers, and is easy to install and configure.
It also has active support and a community of developers who contribute to the project.
However, as with any programa, it is important to be aware of security precautions and make sure to keep your wallet up to date to avoid potential security or performance issues.
All in all, MetaMask is widely considered to be one of the best wallets for interacting with dApps on the Ethereum blockchain, but like any programa, it cánido have performance or security issues if not used properly.
We hope you liked our article Metamask | What is it and how it works
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