Metamask Extension

MetaMask: Your passport to decentralized realms! Seamlessly explore blockchain networks and manage digital assets with this intuitive browser extension.

Installing Metamask Web3 and Setting up your Account

Downloading

The first step is obviously to download the Metamask Extension. You can find this download on the official Metamask Web3 website. You can also go to the main site to see if there is any new news or updates. The official site offers support for three major operating systems, Android, iOS, and Windows. Simply install the extension of the Metamask Web3 by clicking on the download button (the yellow button with a picture of a fox) and then following the instructions that appear in your browser.

Creating a Wallet

Installation of the Metamask Web3 extension is quite simple. After you have installed the metamask web3 extension, a screen will greet you that displays a “Get Started” button. Clicking on this button will direct you to the “Create a Wallet” section of MetaMask web3. To set up your wallet, you need to click on the “Create a Wallet” button on the “Create Wallet” section of the website. MetaMask web3 will then ask you whether you want to support the development of this platform through donations. If you are not interested in supporting MetaMask web3 with donations, then you can click on “No Thanks” or click on “I agree.” Now, you can clearly see how to set up Metamask web3 within minutes.

Password Creation

Next, you’ll set a password for MetaMask. A strong password should be at least eight characters long and use both letters and numbers. Make it unique—no one else should have a password like yours. To make your password, try putting words together or use a random word generator online. When you’re done, read the “Terms of Use” and click “I agree to these terms” if they are OK with you. Once you agree to the terms, you can create your password by clicking “Create.”

Ensuring Backup

In order to create your Metamask wallet password, the prompt will ask you to write down a 12-word backup phrase. The backup phrase serves as the only means of accessing your account if you cannot get into your computer. We recommend keeping this 12-word backup phrase in multiple safe places and never exposing it to anyone. After writing down the secret backup phrase as displayed on the screen, click “Next”. Confirm the backup phrase when prompted, entering it exactly as it was written before. After confirming the 12-word backup phrase, you are able to proceed with creating your password for your account.

What is Metamask’s future?

Compared to cold wallets like Trezor and Ledger, Metamask as a hot wallet is not as secure. The online nature of the wallet makes it less secure than its counterparts. However, with regards to its interaction with Ethereum-based Dapps, it beats all other wallets because of its cross-platform existence and ease of use. Experts contend that the extensive proliferation of the DeFi sector owes its existence to the browser extension.

As far as personal information is concerned, it maintains that they do not possess ay personal information of its users on its servers and their information is stored in the user’s browsers in an encrypted format. With all its considerations, it is still a hot wallet as it depends on the internet for the storage of crypto wallets. Whereas, cold wallets are more secure because store crypto assets on a piece of hardware.

Another freedom that users have is their ability to set the gas fees above or below the average fees. That enables them to determine the speed at which they intend to complete their transactions. This crypto wallet is serving in its own way as a prolific channel into the world of the dApp ecosystem. It has already surpassed 10 million active users and is slowly making a name for itself as a non-custodial wallet.