Non-custodial crypto wallets are in higher demand nowadays than custodial wallets. Well, the reason behind it could be that the custodial wallet takes up the trader's control of their stored digital assets in their hands and starts to manage their account. Nobody wants their control to be taken over especially if it involves their earned digital funds. Even the cases of Cybercrime are relatively larger in number than the cases of non-custodial wallets. There are several popular wallets in the list of non-custodial wallets but there is one wallet that stands out the most and that is MetaMask Wallet.
For beginners, this wallet is a very good option to start their crypto trading journey. Explorers wanting new crypto platforms should try the MetaMask platform as well. For high-profile level traders this platform will prove to be quite useful because of its advanced features. As your trusted crypto guide, stay connected on this page to get a handful of insights on this wallet. It will also contain the details of ‘How does MetaMask Wallet Work?’ along with other necessary protocols.
Download and install MetaMask wallet extension
As the article is on how beginners should start using MetaMask, the primary protocol that you have to perform is the wallet extension or app download on the device you are currently using. In this segment of the write-up, you will get to know the installation steps of MetaMask in both types of devices. So, what are you waiting for, let us start with the procedure:
MetaMask Extension Download
The below procedure is more suitable for Google Chrome users. The traders of other browser users can also follow the procedure it might differ slightly from it. You can get the correct steps by visiting the downloading page of MetaMask.
Open the link https://metamask.io/.
Scroll down a little till you reach the option of ‘Download MetaMask’.
On top of the screen, you will see the three sets of options ‘Android, iOS, and Chrome’.
Then press ‘Install MetaMask for Chrome’.
It will lead you to the Chrome Web Store.
You will now see that the downloading process has begun and will finish in just a minute or two.
MetaMask App download
Start the Google Play Store.
In the search box, write MetaMask Wallet.
From the result page, select the most suitable one that has the official MetaMask logo.
Press on ‘Install’.
You can now see the downloading procedure is going on, so wait till completion.
MetaMask Sign Up Protocol
To begin this procedure, you need to have either the wallet application or extension on your respective device. If you directly skipped the sign-up procedure, then we suggest that you read out the above segments of the article which explains the extension and app downloading protocol. After that signing up for a wallet account will not take as much time, only a few minutes. Follow the MetaMask Wallet steps below:
Open the wallet.
Press the ‘Create a New Wallet’ button.
A maximum of two or three important details will be on the form shown on the screen. You have to write each of the answers correctly.
Then create wallet password which will be helpful during the time of account logging in.
Press the ‘Lock’ button to reveal your MetaMask Secret Recovery Phrase on the screen.
Quickly scribble down the seed phrase on the piece of paper that you can keep private from other people.
Clear a test to check and verify the seed phrase you have with you.
On the completion of these seven straightforward steps, your wallet account home screen will be in front of you.
Getting logged out of an account if not been in use for a long time is a normal thing in this digital world. To get back into your account you will need to execute MetaMask login with password steps. The login procedure is not as lengthy as the signup procedure. It will hardly take a minute to complete only if you remember your MetaMask Wallet password correctly. Otherwise, the wallet import or the password change will take quite a few minutes of your time. Follow the simple procedure below:
Enter the login password in the text field.
And in these three easy steps, the wallet is ready for your use again. But if you no longer remember the password, then you need to use the Seed phrase to execute the password-changing protocol. The seed phrase is also required in the case of wallet import. Hence, you should understand the significance of this seed phrase, losing this phrase is equivalent to losing all the digital assets of your MetaMask Wallet. Another important point is that while you send any asset to a trader or investor ensure that the MetaMask Wallet Address of the recipient is accurate. Because once you complete the transaction there are very less chances of it getting reversed as MetaMask does not allow it.
Is MetaMask KYC mandatory?
The straightforward answer to this question is ‘No’. One of the best things about the wallet is that it respects the wishes of users to maintain their privacy and anonymity. So, for this reason, MetaMask Wallet never asks its users for any personal information that could result in jeopardy of their identity and account security. Also always use the official downloading MetaMask links to avoid the installation of corrupted applications. To ease up your work here is the official link https://metamask.io/download/.
The article was all about MetaMask Wallet and its operating protocols. Though it is already confirmed that the wallet is safe to store any of the digital assets, that does not mean that you can be careless. Fund security is the responsibility of both the wallet creators as well as the account holders. Only one party can take the role of security. It is a mutual effort. Also while surfing on the internet do not fall into phishing traps such as MetaMask wallet update email it is one of the most common scams. Remember that MetaMask will never ask you to do any such thing because it does not have your email address in the first place. So beware of the scams.
Is MetaMask a safe wallet?
Yes, the MetaMask wallet is a secure place to store all the digital assets in it. It would be a little hard for hackers to get into your account because decentralized platforms are not at all easy to hack. Remember to never share your login credentials and the seed phrase with the other people as they use these details to access all of your digital crypto funds.
What is the MetaMask fee?
MetaMask Wallet charges a reasonable amount of fee to execute a transaction that is as per the average market range of the crypto industry. Currently, the rate is 0.875% but it is not the same. The rate keeps on changing depending upon the other factors as well. Such as time, location, and amount of the transaction play a huge role in it.
Is it safe to have MetaMask on my phone?
MetaMask is a secure platform that will not harm your device regardless of whether you are accessing it through your mobile phone or from your computer. MetaMask Wallet will not take up any of your personal information because it is a decentralized exchange and it has no business of accessing the personal information.
What are the risks with MetaMask wallet?
The only risk of using MetaMask Wallet is that it is a software wallet that can breach your account security with just one wrong step.