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MetaMask Wallet is a non-custodial crypto wallet designed for use on the Ethereum blockchain. It is a non-custodial wallet, meaning users always control their private keys and funds.
What is MetaMask wallet?
MetaMask wallet is a browser-based crypto wallet and browser extension that allows users to interact with Ethereum-based decentralized applications (dApps) directly from their web browser. The wallet, created by Dan Finlay and Aaron Davis, was launched in 2016 in response to Ethereum’s growing popularity.
MetaMask is compatible with ETH, other ERC-20 tokens, and decentralized apps (dApps). Users can download Ethereum’s browser extension or mobile app. The browser extension is available for Chrome, Safari, Brave, Edge, and Opera. The mobile app is available for iOS and Android devices.
The wallet also allows users to store, buy, and sell tokens and manage their NFTs.
Custodial and non-custodial wallets
MetaMask is a non-custodial wallet. A custodial wallet is managed by a third party who ultimately controls it, including access if you lose your password/key, whereas non-custodial wallets are self-managed. Think of custodial wallets like keeping your valuables in a storage facility, and non-custodial wallets like keeping them in your safe at home. Custodial wallets, therefore, require less personal responsibility but are at the mercy of the third party, whereas non-custodial wallets give you full control but also mean you carry the full responsibility of keeping your items safe and retaining your password/key because there is generally no third-party with the master password/key.
What are MetaMask wallet’s main features?
Users are guaranteed key features when establishing a MetaMask wallet.
Secure
Non-custodial wallets can be either software wallets (a program that lives on your computer) or hardware wallets (a physical device that you plug into your computer or internet browser). In addition to being a software wallet, MetaMask also supports hardware wallets.
Easily accessible
MetaMask wallet is available as a mobile app on iOS and Android. It is also available on Chrome desktop browsers as a browser extension.
Once you decide on your platform of choice, you’ll follow the prompts to either download the app or the browser extension. Once you have the correct download, the user interface prompts you to create a new wallet or click "I already have a wallet" and enter your 12-word recovery phrase.
Varied blockchains and coins
MetaMask wallet allows users to access blockchain apps seamlessly, as well as store, purchase, and sell Ethereum-based NFTs and cryptocurrency.
What is MetaMask wallet used for?
MetaMask wallet users can access different aspects of web3 through the wallet.
Searching and browsing dApps
MetaMask wallet’s built-in search functionality allows users to easily browse dApps, like OpenSea.
NFTs
MetaMask wallet is built on the Ethereum blockchain, allowing users to access the largest volume of NFTs.
Transfer cryptocurrency
MetaMask wallet is compatible with the following cryptocurrencies: ETH, ERC-20, ERC-721, and ERC-1155. A user is able to store, sell, or transfer cryptocurrency natively through MetaMask’s app or browser extension.
Is OpenSea compatible with MetaMask wallet?
Yes. Once you've installed your MetaMask wallet or downloaded your browser extension, visit OpenSea.io, click the wallet icon in the top right corner and select MetaMask. MetaMask allows you to fund your MetaMask wallet directly from the app or browser extension. Once you have funded your MetaMask wallet, you can purchase NFTs using OpenSea. Your purchased NFTs are stored in your MetaMask wallet.
🧠 Q&A
MetaMask wallet can be linked to the following hardware wallets: Ledger, Trezor, Lattice, Keystone, and AirGap Vault.
Web3 technology is still new and constantly evolving, so while no single action guarantees protection, there are best practices that can help. The best rule of thumb is that if something looks too good to be true, it probably is. Never share your wallet’s seed phrase, be careful when taking actions using your wallet, and make sure to thoroughly evaluate NFTs before buying.
OpenSea also has an icon visible via a blue checkmark badge on a collection or account. A blue checkmark badge on an account means that account has been verified. A blue checkmark badge on a collection means the collection belongs to a verified account and has significant interest or sales. (OpenSea does not endorse verified accounts or badged collections, and OpenSea makes no representations regarding the NFTs in a verified account or badged collection.)
OpenSea makes no representations or guarantees regarding the collections highlighted in this article. Users must do their own research and use their own judgment before buying any NFT, including those included in the collections highlighted in this article. The descriptions of the collections highlighted in this article were adapted from descriptions provided by the NFT creators, not OpenSea.
In web3, the term “gas fee” refers to the payment needed to execute transactions on the blockchain. Gas fees increase when more people use applications that run on top of a blockchain’s network, therefore competing for space within the block. Think of it like Uber’s surge pricing model that increases the cost of booking a ride during the busiest commuting times. OpenSea also doesn’t control gas fees, set gas fees, or receive any of the gas fees incurred by users on the platform. Instead, they all go to network validators or miners.
When you start the NFT purchase process using OpenSea, you’ll see the gas fee broken down by your wallet provider, so you can watch the fee refresh and complete the transaction when it’s low.
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