Today, we will clear your confusion is Metamask safe or not to store cryptos? The facts why MetaMask and Trustwallet are the most secure wallets in the world are shared here.
What is metamask wallet
Metamask is a software based cryptocurrency wallet where you can hold a variety of cryptocurrencies and NFTs. You can easily use metamask wallet in a laptop, android mobile, iOS and desktop etc. Via metamask wallet you can easily send or swap any crypto to any wallet.
If you are using trust wallet or you have ever heard about trust wallet then it’s easy for you to understand metamask wallet. Metamask wallet is similar to trust wallet the main difference between metamask and trust wallet is that metamask wallet is based on ethereum blockchain network whereas trust wallet is based on binance smart network.
Is metamask safe or not to store cryptos
Metamask wallet safe – The specialty of metamask wallet is this wallet is totally decentralized wallet meaning except user nobody can interfere in this wallet even Government and big organizations are not able to interfere in others wallet. Decentralized wallets are always secure because nobody can track how many crypto currencies you are holding in your metamask or trust wallet.
Let me make it more clear metamask is safe or not to use!
Cryptocurrency wallet such as Binance, Wazir x, Electrum, Coinswitch Kuber etc demands your personal and professional information to allow you for any kind of cryptocurrency trading. These all are centralised wallets where you have to submit your information while completing the signup process such as email ID, mobile number, KYC. It means all the centralised exchange keeps the record of your data and also maintains the data of your per day cryptocurrency trading and holding. In future if government will ask these centralised cryptocurrency wallets to reveal their data or to provide information of your data to the government then these centralised organisations can provide your information to the government.
Whereas, while creating your account in decentralized wallets such as metamask and trust wallet, you don’t have to submit your any information not even an “Email ID” is required while signing up for decentralized wallets. Instead you will receive a secret key once you sign up or during the signup process to meta mask or trust wallet and these keys will be the gateway of your account. Remember, if you will loose your secret keys then nobody can recover your metamask account. So it’s better to note down these secret keys somewhere in your important diary.
If you are using metamask wallet then you do not need to share any kind of personal information like email id, your mobile number and you don’t need to fill the kyc details as well.
If you are thinking is metamask wallet safe or not, in today’s offline and online market nothing is safe even banks are not safe. While discussing it technically metamask wallet is one of the safest wallet in the world. It does not allow for screen recording during signup and login process. You can also securely keep non fungible token’s in your metamask wallet.
While purchasing and selling (NFTs) non-fungible tokens you need metamask wallet in various nft marketplaces.
How to install metamask wallet
You can use metamask wallet in any android mobile, desktop or laptop.
- First go to the play store of your mobile and search for metamask wallet then download the metamask wallet from there.
- Metamask wallet has a dog icon.
- Make sure to download the original metamask wallet and for that check the ratings and number of downloads.
- Metamask wallet is highly popular wallet in the entire world and you will see the downloads above millions.
- Now click on install metamask wallet.
- Welcome metamask wallet screen will appear in front of you just click on get started option give at bottom.
- Now wallet setup screen will appear showing 2 options (i) import using secret recovery phrase (ii) create a new wallet.
- New users click on new wallet and existing users should click on import using secret recovery phrase.
- Now password setup screen will appear and you have to set your user id and password here then click on create password.
- After that most important screen will appear showing secret recovery phrases.
- The top of the screen you will see write down your recovery phrases.
- Note down all the 12 recovery phrases in an important diary. These phrases are actually your login id so dont share them with anybody.
- No email id, no mobile number are required to create account these phrases plays the role of the said subjects.
- Note all the phrases in the given sequence and check the spellings twice.
- After filling all the 12 recovery phrases correctly click on complete backup.
- Now it will show congratulations you have successfully protected your wallet. Meaning your wallet is created, hurray!
Which tokens can I trade on metamask wallet?
You can easily trade Erc 20 based tokens on the metamask wallet.
Which kind of wallet is metamask?
Metamask is a decentralized wallet which is out of reach of any government or organizations.
Is it safe to use metamask wallet?
Metamask is highly secure wallet which do not ask any personal or professional information of the user. You do not need to submit your mobile number any email id or KYC while creating or using metamask wallet.
Is metamask and trust wallet are same wallet?
No, metamask and trust wallets are two different wallets.
What is the difference between metamask and trust wallet?
Metamask wallet is based on Ethereum network whereas trust wallet is based on Binance smart network.