• Bitcoin
  • Ethereum
  • XRP
  • Tether
  • Bitcoin Cash
  • Litecoin

What are the utilities of Metamask?

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.

Metamask can be used in Decentralized Applications. It is called the Dapps. Dapps are mainly running through web applications which are based on blockchain. Dapps uses smart contract to communicate with the blockchain. The Dapp code is developed by using Javascript to use the smart contract so that users can buy and sell crypto coin like Ethereum (ETH). A blockchain layer develops Ethereum system with a decentralized platform which can smoothly run the smart contracts.

Installation procedure

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.
• Then you have to click on "get chrome extension." It'll show your browser too.
• After that, you have to click on add to chrome.
• Then you have to click on add extension to complete the process

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.
• It has a particular setting which helps users to prevent their account from any threats. It provides the user some seed phrases which can be used to reset their lost account.
• Metamask functions through a vast Ethereum network. That’s why it has an excellent support page on its site.
• It has an elementary feature with which helps it easy to send and receive cryptocurrency easily.
• It works through any server which allows users to control their public and private keys.

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.
• Read the terms and agreement before clicking on the accept agreement.
• Now select a strong password and click on the option “create” to create your cryptocurrency wallet.
• You will get an option of seed phrases for the vault. Click on the option to save seed phrases as file and copy the Metamask seed phrases file which you have to download on your desktop.
• Now click on the option "I have copied it somewhere safe."
• After completing this process, you will be taken to your Metamask account.
• After that, if you want to purchase Ethereum, you can click on the option Main Etherum Network. Then you can successfully buy and send Ether as per your need.

Advantages of Using Metamask

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.

Sumana Chakraborty

I have completed my Master's degree in English Literature. I have been working as a content writer for last 3 years. Now I can say that I am a successful entrepreneur and a responsible marketer. I have achieved everything with my hard work, honesty, and dedication. Though I can write about any topic, blockchain and crypto industry attract me the most. I have started my career as a blockchain writer. Gradually, I gained more experience in this field.