A short guide on Metamask wallet

12 Feb. 2021

metamask wallet main

Developers today are more and more inclined towards building decentralized applications (dApps). These applications have to constantly communicate with blockchain platforms which, sometimes, is not a very smooth process and thus there is a need for some solution that makes this communication easier.

This was reason enough to bring into development, Metamask, an extension that eases the communication between dApps and the Ethereum Blockchain. In this blog, we will learn in detail what Metamask is, its functionalities and what are its benefits.

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What is Metamask?

-Metamask is an extension or a plugin that can be installed on many web-browsers like Chrome, Firefox etc. It is an easy way for users to connect to dApps on Ethereum to engage in crypto trading.

-MetaMask also acts as a wallet for Ethereum where users can store Ether/tokens.

-Metamask is not only a wallet but also an entry point to connect to many DeFi apps like Compound Finance and also to Layer 2 Scaling solutions like the Matic Network. (Here is how to configure Metamask to connect to Matic)

-The Metamask interface provides two tabs - one for accessing your assets and one for seeing your transaction history and activities. Other features include “Buy”, “Send”, and “Swap” options which are self explanatory. If you wish to understand more about the Buy, Send and Swap options on Metamask wallet, go through this article.

-Connecting with dApps like Uniswap is only a matter of clicking a button on the application website. Metamask is available on both iOS and Android mobile phones.

(Learn how to set up a Metamask wallet)

Source : academy.ivanontech.com

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Advantages of Metamask

advantages of metamask wallet

Used across widely - Due to its easy and streamlined process, Metamask wallet is widely used across various dApps. Also, the Metamask plugin is the same for multiple browsers which makes it extremely easy to use.

User-friendly - The user need not remember or manage private keys, instead they can access the Metamask wallet only by using their seed phrase.

Integrated & Compatible with many applications - Communicating with multiple dApps like Uniswap or Compound is very easy since all these are totally compatible with Metamask wallet. Transferring tokens has never been so easy.

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