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What is Metamask: Everything you need to know about this decentralized wallet
Wondering what MetaMask is and why so many cryptocurrency investors use it? In short, it's a decentralized wallet for blockchains compatible with the Ethereum Virtual Machine (EVM). It's primarily used to store crypto assets , conduct transactions decentralized finance ( DeFi applications . This interface allows you to manage your public addresses and private keys from a web browser or smartphone.
Table of contents
What is Metamask? A decentralized wallet for managing your cryptocurrencies.
MetaMask is one of many decentralized wallets that allow users to maintain complete control over their private keys and digital assets. Unlike centralized exchanges, where you delegate the management of your funds to a third party, a non-custodial wallet like MetaMask gives you direct access to your cryptocurrencies on the blockchains. MetaMask isn't the only option on the market: alternatives like Trust Wallet (developed by Binance ), Rabby, Exodus, Brave, and many others also offer similar solutions, each with its own unique features and integrations. Furthermore, several centralized exchanges have launched their own non-custodial wallets, such as Coinbase Wallet , allowing users to store their crypto without relying on the exchange's centralized services . According to a 2023 study by ConsenSys, the application had surpassed 30 million monthly active users .
What is Metamask? Direct control of your keys
A Metamask address is a string of characters, usually starting with 0x. This public key is unique, and you can generate multiple addresses within the same account. The key point is that you maintain constant access to your funds: the platform cannot suspend your transactions under any circumstances. Metamask is essentially just a technological bridge between you and the blockchain: a simple software tool that allows you to sign transactions using your private key.
What is Metamask? EVM compatibility
Metamask isn't limited to Ethereum : it also interacts with other compatible blockchains, often called "sidechains" or "EVM blockchains," including Polygon , BNB Smart Chain, and Avalanche . You can manage multiple networks within the same interface by manually adding their details (RPC, ChainID, network name). In practice, this means you can switch from the Ethereum to Polygon with a single click, while keeping the same public addresses. However, we'll see that for even broader network support, including non-EVM networks like Solana , other solutions are better suited, offering EVM and non-EVM compatibility within a single interface.
Key management
When you create your wallet, MetaMask generates a "seed phrase": this 12-word sequence allows you to regenerate your addresses on any compatible application. It's therefore crucial to protect the seed phrase , since anyone who obtains it can immediately import your wallet into another tool and access all your assets.
To learn how to use a decentralized wallet , manage your public and private keys , and interact securely with the blockchain , we offer a free, detailed, step-by-step . This guide includes explanatory screenshots and clear instructions to help you easily master the basics. Here's what you'll find:
– How to create a decentralized wallet : Installation on computer or mobile, choosing the wallet (MetaMask, Trust Wallet , Exodus…), securing your seed phrase and first steps to configure your account.
– Understanding how public and private keys work : Explanation of their role, differences between the two, importance of protecting private keys.
– Add and manage cryptocurrencies on your wallet : Deposit and withdraw funds, add new tokens, check transaction fees and confirmation times on different blockchains.
This guide is designed for beginners and will help you become independent quickly. Download it for free by filling out the form below and take control of your digital assets today.
What is Metamask? Integrated exchange functionalities
swap option that aggregates rates from various decentralized exchanges (DEXs). This allows you to directly exchange ERC-20, MATIC, BNB , or other EVM tokens through the interface. This feature, which relies on aggregation protocols, facilitates access to the best rates, although additional fees may apply for the service. Network fees are often higher than centralized exchange fees.
To minimize your costs, it is advisable to choose a quality CEX: we recommend Gemini.
The platform offers:
- Top-tier security, with "cold" storage of the majority of funds
- A dual interface: a simplified application for beginners and ActiveTrader , an advanced platform offering volume-dependent fees and a competitive order book.
- Access to over 60 cryptocurrencies, but also to a rare offering on the market: tokenized shares (Nvidia, Apple, etc.). These products replicate the price of real shares via tokens issued directly on the Gemini platform, allowing them to be bought and traded 24/7 like cryptocurrencies, without going through a traditional stockbroker.
- Strict regulatory compliance, with Gemini being one of the first platforms approved in the United States and holding the European license ( MiCA ).
- Additional services such as staking to generate returns on these cryptocurrencies.
Gemini therefore allows you to invest in both cryptocurrencies and tokenized shares, all within a secure and regulated environment.
What is Metamask? A web extension and a mobile app
For most cryptocurrency beginners, Metamask initially appears as a browser extension (Chrome, Firefox, Brave, Edge, etc.). This extension is the most popular because it connects you with a single click to a large number of dApps dApp decentralized applications): decentralized exchanges, play-to-earn online games, staking platforms staking and more. A mobile version (Android, iOS) is also available for those who prefer to manage their assets via their smartphone.
The seed phrase: the key to your sovereignty
A significant portion of Metamask's security relies on the seed phrase. This phrase is generated locally during the initial setup. You are free to choose where and how to store it. Some users print it out, while others engrave it onto specially designed metal plates that are fire and water resistant.
Never confuse the seed phrase with the simple password set in MetaMask to protect local access: the password is only used to encrypt your keys on your computer or mobile device. The seed phrase, on the other hand, allows you to fully regenerate your wallet from anywhere.
Blockchains compatible with Metamask
Metamask supports all EVM-compatible blockchains . This includes:
• Ethereum : The native network, created by Vitalik Buterin, where numerous ERC-20 tokens and ERC-721 NFTs are issued.
• Polygon (formerly Matic): A very popular scalability solution with significantly lower transaction fees than Ethereum .
• BNB Smart Chain (formerly Binance Binance exchange platform , known for its low costs.
• Avalanche : A blockchain specializing in processing speed and interoperability, integrating multiple subnets.
Transaction fees, gas fees and bridging
On Ethereum or any EVM network, each transaction incurs a fee (gas fee). These fees reward the validators or miners who process your requests. On Ethereum, these fees can fluctuate from a few cents to several tens of euros depending on network congestion. On BNB Smart Chain or Polygon, they generally remain very low, often in the tens of euro cents.
If you send a token from one network to another, you will need to use a bridge. These gateways handle the conversion of your assets and sometimes pass on additional fees. Metamask does not natively support these bridges, but you can connect to specialized dApp(e.g., Wormhole, Multichain, cBridge) and sign the transaction from the extension to transfer your funds.
What is Metamask? A hot wallet
MetaMask is commonly classified as a hot wallet , meaning a wallet that is constantly connected to the internet. This type of wallet is ideal for frequent transactions, quick access to decentralized applications ( dApp ), and trading on DeFi protocols. However, due to its constant internet connection, a hot wallet is more vulnerable to hacking and phishing attacks.
Conversely, a cold wallet stores private keys offline, on a physical device such as a Ledger or Trezor , thus drastically reducing the risk of cyberattacks. cold wallet are primarily used for long-term storage and securing high-value assets, while hot wallet like MetaMask are preferred for everyday interactions with the blockchain. For Ledger security , many users combine the two: they use a cold wallet to store their primary funds and a hot wallet for their routine transactions.
What is Metamask? How do I install and configure Metamask?
The installation process is very quick. On a computer, you go to the official Metamask website and download the extension suitable for your browser.
Once installed, the fox icon appears in the extensions bar and you can start configuring your wallet, either by importing an existing seed phrase or by creating a new wallet.
On mobile, simply download the application from the Google Play or the App Store.
When you launch the extension or application, you are guided step by step:
• Creating a new wallet or importing an existing one.
• Choosing a local password to encrypt the private keys.
• Revealing the seed phrase (12 words to note down carefully).
Once the setup is complete, you arrive at the interface which displays the default network (often Ethereum Mainnet), as well as your ETH balance.
What is Metamask? Securing your wallet and avoiding phishing
Although Metamask has a reputation for being a reliable tool (no major vulnerabilities have been detected since its launch in 2016), the end user must follow basic security rules:
• Always check the URL of the website you're connecting to: Some counterfeit services mimic the interface of Metamask or dApp to steal your keys.
• Never disclose your seed phrase: Official support will never ask for it.
• Lock your wallet when you're not using it: This prevents third parties from accessing it through your current session.
• Avoid connecting to just any dApp : There are malicious websites that request unlimited access to your funds.
• Use a hardware wallet as a complement ( Ledger , Trezor ): This allows you to store your private keys off-site and validate each transaction on an external device.
What is Metamask? One interface among many: key portability
What you absolutely need to understand is that Metamask is just an application for managing your keys. If you have correctly noted your seed phrase, you can re-import the same wallet into another decentralized application (like Trust Wallet or Exodus): your public addresses and balances will reappear, because they are recorded on the blockchain itself.
In short, as long as you have your recovery phrase, you are not locked into a single interface. This is a fundamental aspect of Web3 , where ownership of digital assets truly lies with the user, regardless of the interface used to access them.
Wallet migration or duplication
If you ever decide to switch to another solution, you can easily import your phrase. Cryptocurrencies will remain accessible without limitation, provided the new application supports the cryptocurrencies you hold. You may need to reconfigure your networks (Polygon, BNB Chain, etc.) and your custom tokens.
Alternatives: other Web3 wallets
MetaMask is far from being the only one on the market. According to a ranking published at the end of 2024 by CryptoRank, there are more than twenty wallets. Among the most notable alternatives are:
- Trust Wallet : Very popular on smartphones, it supports a larger number of blockchains, including some non-EVMs like Bitcoin, Solana , Cardano , Aptos, etc.
- Exodus : A multi-asset wallet offering a very intuitive interface for beginners and native support for numerous blockchains, including non-EVMs like Bitcoin, Solana , Cardano , and Aptos, making it a solid alternative to MetaMask for those who want to manage a wider range of networks. It also supports the Lightning Network on mobile.
- Coinbase Wallet : Although developed by the Coinbase non-custodial wallet gives you complete control over your funds . It simplifies the direct purchase of cryptocurrencies and interaction with certain dApp , while offering independent management of your private keys and a wide range of supported networks.
Each of these wallets boasts its own particularities: some specialize in NFTs , others focus on speed , and still others support rarer protocols like the Lightning Network for Bitcoin (which MetaMask does not do natively, being EVM-oriented).
The question of compatibility non-EVM blockchains (e.g. Solana or Aptos), you will probably need to turn to a more versatile wallet , such as Exodus or Trust Wallet , which supports a wide range of assets and ecosystems.
What is Metamask? How can I take advantage of Metamask's features?
Beyond simply receiving and sending cryptocurrencies, Metamask offers a wide range of useful possibilities for a beginner who wants to explore the world of DeFi or NFTs.
Interaction with smart contract
On a network like Ethereum , thousands of smart contract manage financial services (loans, borrowing, staking , liquidity pools) or entertainment (games, play-to-earn , NFT collection). Metamask allows you to "sign" a transaction, meaning you give your cryptographic consent to interact with these contracts. For example, you can:
• Deposit ETH on a DeFi protocol to earn interest.
• Participate in a token launch.
• Purchase an NFT on a dedicated marketplace.
Signature requests are presented as pop-ups clearly explaining the requested action. It is your responsibility to verify that the smart contract matches the official protocol address.
Buy cryptocurrencies directly
Some versions of MetaMask now include a service for buying crypto assets via credit card or SEPA transfer, through third-party partners like Transak or MoonPay. Fees may be higher than on a centralized exchange, but it remains convenient if you need tokens quickly to pay for your transactions.
Integration with decentralized exchanges (DEXs)
A DEX is a platform that allows the exchange of tokens without going through a central intermediary. Examples include Uniswap, SushiSwap, Curve, and PancakeSwap (on BNB Smart Chain). Metamask natively connects to this type of application.
You simply select "Connect Wallet" on your chosen DEX, confirm the connection via Metamask, and then you can buy or sell tokens, provide liquidity, or farm. All confirmations are then sent via pop-ups showing you the gas fees and the tokens you receive.
Internal swaps
Metamask's swap option, accessible from the "Swap" tab, allows you to exchange one token for another without having to connect to a DEX yourself. Metamask compares several routes and offers you the most advantageous one. This is a convenient solution if you don't want to make multiple connections. However, please note that an additional service fee may apply.
Accessing NFTs and interacting with DeFi
Metamask manages NFTs using the ERC-721 format (and other similar standards). You can therefore view a list of your NFTs, or even add them manually if a token doesn't appear automatically. The same applies to rarer or more exotic tokens (ERC-1155, etc.).
In the decentralized finance (DeFi) space, Metamask is a gateway to many protocols. Whether you want to stake ETH, borrow stablecoin, or participate in a launchpad, the steps are similar:
- Connect your wallet to the platform.
- Sign the authorization to spend certain tokens.
- Sign the transaction that deploys the desired action (loan, swap, pool investment).
At each step, Metamask calculates transaction fees in real time and warns you if the operation costs you more than expected.
Conclusion: an essential tool for beginners
MetaMask is a leading decentralized wallet : its ease of installation, broad compatibility with numerous EVM blockchains, and seamless integration with major dApp make it an ideal choice for beginners. However, it's worth noting that alternatives to MetaMask exist, particularly those supporting a wider range of networks.
By answering the question "What is Metamask?" , one realizes that it is first and foremost an open interface allowing you to manage your own assets in an environment where security and transparency are paramount. Transactions are signed using your private key, and you can explore DeFi, acquire NFTs, or simply store your cryptocurrencies without relying on an intermediary.
If you're new to crypto and want to understand how a non-custodial wallet works, it's a logical step to get started in the world of blockchains. Take the time to memorize your seed phrase, practice basic operations (sending, receiving, connecting to a dApp), and you'll be up and running in no time.
Ultimately, whether it's exchanging tokens , taking advantage of staking on a DeFi protocol, or accessing a bridge to send your funds to another network, Metamask is one of the solutions.
Just remember that, like any decentralized wallet, Metamask requires increased vigilance: store your 12 words in a safe place, lock local access with a strong password, and never validate an authorization if you are not sure of the address or the reliability of the protocol.
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Yoann
Training engineer, I quickly became interested in the field of finance. Convinced that decentralized finance has a bright future ahead of it, I participate in its democratization by developing Crypternon.
