What is MetaMask? | CryptoWallet.com

What is MetaMask?

MetaMask is an ERC-20 token crypto wallet that operates as browser plug-in. It allows users to holds ERC-20 (Ethereum) tokens within the plug-in and participate in smart contracts and decentralized apps (DApps) via their interface. 

It was founded by Ethereum development company ConsenSys in 2016 and is currently one of the most widely used applications in the Ethereum ecosystem.

How many users does MetaMask have?

MetaMask is estimated to have as many as 10 million monthly active users. However, this number is likely highly exaggerated since it is possible for an individual to create almost infinite wallets. 

Is MetaMask secure?

As a browser wallet, MetaMask is focused on convenience and ease-of-use over security.

Unfortunately, MetaMask users have been the target of many phishing attacks in the past where a hacker creates a browser-based extension that looks identical to MetaMask but is in fact not the same. When the user enters their information the hacker is able to access it. 

That being said MetaMask is still regarded as being generally secure for small to medium amounts of cryptocurrency so long as you are careful. 

Can I use MetaMask to purchase cryptocurrency? 

You cannot use MetaMask to purchase crypto using fiat money. However, you can connect to other decentralized applications which will allow you to trade between ERC-20 (Ethereum) tokens.