Metamask is an extension for a particular cryptocurrency which can be used by adding it in any browser including Chrome, Firefox or Brave. It's a cryptocurrency wallet which is not a wallet you keep in your pocket. It is a wallet which stores only information about cryptocurrency. Metamask extension is only used for secure Ethereum (ETH) transaction through a regular website. Ethereum is the best alternative of bitcoin (BTC) at the moment on the market. Ethereum cryptocurrency is also famous as Ether and other cryptocurrencies which are built on Ethereum are known as tokens. These tokens are called ERC20 tokens. So the Metamask wallet or extension or plug-in is used as a storing key for these three browsers.
Metamask works as a pathway between a browser and an Ethereum blockchain. The Ethereum blockchain network gives a user complete freedom to develop their own applications. It is also known as Dapps so that they can use transaction guidelines and also they can save their keys in ETH cryptocurrency.
To buy Ethereum or ERC20 tokens, you need to install the Metamask plug-in in your web browser first. Here is a complete installation guide for a beginner.• At first, you have to visit the official website of Metamask.
After clicking on add extension, wait for some time till the Metamask is completely installed. You will see a fox logo on the upper right corner of your browser
Functions of Metamask
Let’s check out how this extension works digitally. It will be easier for any user to understand this concept.• It is an open source code which anyone can freely access. It works as an open source so that it can be updated and improved continuously.
How to use it after installation
After the installation process gets completed, it's time to check the next step. The next step is to use the extension correctly. You have to follow the below mentioned steps to do that.• Click on the fox logo on the upper right corner of your browser.
There are lots of benefits of using Metamask which are:-
1. Digital Network: Metamask can create a very secure digital Ethereum network which can specify which Ethereum node should be sent to the other potential buyer outside any single network.
2. Fully Integrated: Metamask is an online wallet. But instead of storing Ethereum in a wallet, you can store it in your browser extension which is manageable and integrated.
3. Control Private Key: It can create a private key pair through a seed which can be accessed through the browser. It allows users to get total control over their private keys. It'll help them access their funds from anywhere.
4. Provides Flexibility: It provides flexibility regarding the storage of the cryptocurrency. It means you can keep Ethereum and ERC20 token in the same extension. You can even view your original Ethereum account effortlessly.
5. Detect any Harmful Threats: Metamask offers secure transactions for its users, and if you by mistake visit a malicious website, it will detect the threat at once and block you from entering that site with a red warning. In this way, the chances of getting fraud will be decreased.
These are the key benefits of using a Metamask extension for ETH cryptocurrency. So go ahead and try it.
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