What is MetaMask?

Financial transactions have become more efficient, faster, and secure as a result of blockchain technology. With no third parties involved in transactions, crypto ecosystems have developed a variety of use cases to aid users in getting the most out of the revolutionary system.

The use of cryptocurrency wallets is an innovative activity in the crypto world. Crypto wallets have established themselves as a viable method of storing and managing crypto assets. They are widely used to trade cryptocurrencies, create and sell non-fungible tokens (NFTs), or lend and stake via decentralized finance (DeFi) protocols.

When it comes to developing decentralized finance apps, Ethereum has proven to be a reliable blockchain platform. However, some users have difficulty connecting with decentralized applications and tokens on the blockchain. To lower the entry barrier to the dApps market and decentralize control over personal data and increase user privacy, MetaMask appears to be a promising answer. So, what is Metamask?

Although there are a variety of digital wallets available in the crypto marketplace, Metamask is considered the most popular and most trusted Ethereum wallet. Metamask has grown dramatically in popularity as a dependable crypto wallet for providing the most secure way to connect to blockchain-based applications and interact on the new decentralized web. According to the Metamask website, this crypto wallet had over 21 million monthly active users as of December 2021.

MetaMask is a decentralized digital wallet that enables users to store, buy, send and swap Ethereum and ERC-20 tokens. Additionally, users can manually add the Binance Smart Chain network to the wallet to keep and exchange BEP-20 tokens. The cryptocurrency wallet was created in 2016 by ConsenSys Software Inc. and designed by Aaron Davis and Dan Finlay to address the security and usability concerns associated with Ethereum-based web applications. Over the years, MetaMask provided an essential utility for blockchain newcomers, token traders, crypto gamers, and developers to manage their digital assets.

The MetaMask wallet is available and accessible as a browser extension and as a mobile app. As a browser extension, it connects a standard browser such as Google Chrome or Firefox to the Ethereum blockchain. When the wallet is installed, the user obtains a unique Ethereum public address, which he can use to send and receive cryptocurrencies. The wallet is also available as a mobile app for download on iOS and Android. According to ConsenSys (2021), the MetaMask mobile app is equipped with a key vault, secure login, token wallet, and token exchange, making it easy to interact with blockchain-based applications, without compromising the security or ease of use.

Using Google Chrome or a Chromium-based browser such as Firefox or Brave, setting up a MetaMask wallet is easy and can be done within a couple of minutes. Iredale (2021) lists a step-by-step guide on how to set up a MetaMask wallet account, including (1) downloading MetaMask; (2) creating a wallet (3) creating a password; and (4) confirming the backup phrase.

MetaMask enables easy access to the DeFi marketplaces such as Coinswap Space. With its participation in the decentralized exchange market, Coinswap space aims to be the most comprehensive platform for traders and stakeholders, operating on the Binance Smart Chain. With an attractive user interface and a smarter dashboard, the CSS platform enables users to handle all major swap functions in one place while simultaneously using several different cryptocurrency wallets. Aside from that, Coinswap Space provides secure and simple integration and connectivity for a range of cryptocurrency wallets, particularly MetaMask.

Connecting the MetaMask wallet of CSS users to the Coinswap space platform is pretty straightforward. First, they navigate to https://app.coinswap.space/#/ on the Coinswap Space website. Next, they need to click the ‘Connect to a wallet’ button in the top right corner of the application’s main dashboard and login with their MetaMask wallet account. After connecting, they will finally obtain their wallet address, which they may use to send and receive CSS tokens.

Start your trading journey on the CSS platform and connect your MetaMask wallet immediately.



Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store