What exactly is MetaMask? An explanation of the blockchain wallet
- May 20, 2021
- Posted by: Shalini R
- Category: Blockchain
Find out more about blockchain wallets and MetaMask
Each public blockchain has its own wallet, and MetaMask is Ethereum’s native wallet, allowing users to store ETH and its tokens. It acts as a bridge, connecting users to the Ethereum blockchain through browsers. Ethereum dapps can be accessed and launched from this location.
You can’t send or receive blockchain-based transactions unless you have a wallet that supports them. Owning a wallet is important in the new world of cryptocurrency. To get started, you won’t have to pay anything.
In blockchain words, a wallet is an app that allows you to store your private key and communicate with different digital ledgers depending on the wallet type, much like your standard leather wallet.
MetaMask is a web wallet that allows users to link to the Ethereum blockchain. Its developers wanted to make ETH transactions as quick and intuitive as possible. MetaMask can also be used to communicate with and use Ethereum dapps.
MetaMask is self-hosted, and its plugin is available for a variety of browsers, including Firefox, Chrome, Opera, and Brave, so their ultimate aim is to encourage adoption.
It is also non-custodial, which means that the user retains complete control of his or her funds. Furthermore, MetaMask has a security vault that protects your identity while allowing you to communicate with Ethereum via various browsers and sign off transactions.
Here’s how to get MetaMask installed on your Chrome browser
- Go to MetaMask’s official website, then to Chrome’s official store, where you can click “Get Chrome Extension.”
- To add the extension and instal the MetaMask plugin, go to the connection and press “Add to Chrome.” You will be redirected to a new tab until you are ready
- To get started, select either “Import Wallet” (for those who have previously used MetaMask) or “Create Wallet” (for those who have never used MetaMask). Click this button to make a fresh one.
- To grant MetaMask permission, click agree on the “Help Us Improve MetaMask” page.
- Make up a new password.
- After that, you’ll need to back up your seed words. In the event that your wallet is lost, you will use these phrases to recover it. Make a list of these keywords on a piece of paper and keep it secure.
- To complete the operation, click “All Done.”
That’s all there is to it
On the main page, press “Receive” to receive funds from an external account. To begin the transaction, copy your public address or scan the QR code.
You may also connect your MetaMask to a hard wallet, such as Ledger, or a mobile or laptop wallet. From the comfort of your browser, you can deposit ETH to any Ethereum dapp and obtain tokens from dapps with a MetaMask blockchain wallet.