Try Wigwam wallet - The Great MetaMask Alternative

Metamask wallet Review

With Metamask, you may store cryptocurrency in a non-custodial hot wallet that links you to decentralized blockchain networks. You can download it as an app for iOS or Android smartphones or a browser plug-in.

Short History of Metamask

MetaMask was developed by ConsenSys and founded by Ethereum co-founder Joseph Lubin. The wallet was released in 2016, before the boom of the DeFi sector. Until 2020, it was limited to being a Firefox and Google Chrome plugin.

You can download the non-custodial hot wallet as an iOS and Android mobile app as well as an extension for Google Chrome, Firefox, Brave and Microsoft Edge. It automatically connects decentralized smart contracts of applications so that customers can use the protocol and make cryptocurrency transactions without creating an additional wallet.

MetaMask is one of the most popular wallets in the Ethereum ecosystem. ConsenSys reports that as of early 2022, there were over 30 million monthly active customers of the application — a 42% increase from April 2021.

Metamask Features

The Metamask wallet allows customers to track, buy, exchange, link and earn through staking with digital assets. It supports ETH and any tokens built on EVM-compatible blockchains, because Ethereum is only one of them. Note that to display some tokens in MetaMask, you have to import them manually.

Among the wallet's other important characteristics are:

• Assistance with hardware wallets. MetaMask's extension supports Trezor, Ledger, Lattice, Keystone and AirGap Vault. Keystone is supported on mobile devices. The company is in the process of expanding the mobile version with more hardware wallets.
• Token exchange within the app. Both the mobile app and the browser extension offer exchange capabilities. All you have to do is click the "Exchange" button to start a transaction. Exchanges are subject to a 0.875% service charge.
• Buying tokens straight from the wallet. With MetaMask, purchasing tokens is simple and only requires clicking "Buy." There are several networks and payment choices available. However, the specifics may change based on where you live.
• NFT assistance - you may store NFTs in this wallet.
• In MetaMask, you can create multiple accounts, each with its unique address. You can top-up your balance directly in MetaMask by using a credit card. When you buy tokens, for example, on Binance, you will need to select the coin (USDT) and network EVM on the exchange and enter the MetaMask wallet address for the transfer.

Wallet Benefits 

This non-custodial hot wallet has several significant advantages, including:

1. Decentralization;
2. Well-thought-out design;
3. Wide variety of cryptocurrency support; 
4. Multi-platform support;
5. High level of security.

Because the Metamask extension is written in largely open-source code, users may help improve the service and find possible security holes in wallets.

MetaMask weak points

The Metamask wallet also has its own disadvantages. Here's what you should know:

1. Internet connection vulnerability;
2. Poor usability;
3. Phishing site dangers;
4. Potential disruptions in provider operations.

"Hot" wallets will always be at risk since these storage options are internet-connected. While there are no known instances of Metamask hacking, there is still a chance of hazard.

Conclusion

This crypto wallet is among the most widely used ones for Ethereum exchanges. Many traders who deal with Ethereum and other cryptocurrencies use this option.