It doesn’t matter whether you’re using the internet to check your like counts on social media, or to write a message to your family or loved ones, or to check your cryptos online, keeping the connection safe is probably the most of your concerns. Ever since we have been using computers and especially surfing through the web, being safe has been our main objective. Not being hacked, not downloading a file with a virus attached, not filling our bank info on a phishing page. They might wonder: is metamask safe?
So our privacy and security is our most important goal when we’re using the internet. The importance of online security gets a lot more when it’s about getting your crypto assets hacked. Especially that you could never do something to get back your tokens. When your cryptocurrencies get hacked they are as good as gone. Through the years tons of hackers, scammers, and online bandits have tried various reasons to get into your crypto wallet. So one of crypto enthusiasts’ causes of distress is when they want to try out a new crypto wallet. They might wonder: is metamask safe?
The reason for this is somewhat obvious. No one likes to find out their crypto assets have been stolen because they downloaded a wallet that was in reality just a phishing scheme. This article will check out whether or not metamask is safe.
Is metamask safe to use? Stick around by the end of this article to find out.
What is MetaMask?
Metamask is a cryptocurrency wallet that comes in two different forms, browser extension or mobile app. By using it’s web browser extension you might think, is metamask safe? Metamask is connected to the Ethereum main net by default. So by default, it’s used to transfer, receive and manage Ethereum tokens.
Because a lot of crypto enthusiasts, users, and even veterans may wonder if “is metamask safe to use?” This article will go over metamask to make sure it’s safe, and to let you know of the risk factors involved with using the metamask crypto wallet.
So, without further ado, let’s find out whether or not the very well-known, famous cryptocurrency wallet, metamask, is safe.
Is MetaMask Safe to use?
To answer this question we will make a pros and cons list for metamask. To check out what are the benefits of using the metamask wallet and what are the risks of using it. First, let’s make a list of some of the many benefits of using the metamask crypto wallet. Then we’ll figure out is metamask safe?
Metamask isn’t in control:
Metamask doesn’t control your wallet and doesn’t have access to your private keys. This is why you must carefully store the recovery seed codes somewhere safe. Because if you lose access to your wallet that is the only way to recover your wallet and your assets.
Pros of using metamask:
Metamask has been around since 2016. Having a web extension version is another reason for its fame. But nonetheless, it has a lot of great features and benefits that we’ll talk about in this section. So, let’s begin.
It values your privacy:
One of metamask’s policies that make it safe and reliable for users is that it doesn’t save your private keys. Instead of saving your keys on its servers, in metamask browser extension version, it stores the private keys on the user’s browser. On the mobile app version it also stores your private keys locally.
Hierarchical deterministic settings:
The metamask crypto wallet helps users to be safe in many ways. On of them is that it helps users by backing up their accounts by hierarchical deterministic settings.
Metamask has it’s own fan base all around the globe. Millions of users use the metamask wallet to store their crypto assets securely. This can also be a relief for our users who are more skeptical towards a new wallet such as metamask.
The metamask wallet is an open-source software. The enormous community we discussed above updates the code constantly. Also the fact that it’s open-source means that the code is available to everyone, all the time.
Now that we discussed some of the benefits we should move on to the next section. When we discuss the disadvantages of using metamask, you might get your answer to: is metamask safe?
Cons of using metamask:
Is metamask safe? To answer this you should hear both pros and cons of using metamask. A coin has two sides, as everything in this world does. And metamask counts as “everything” too.
It’s a hot wallet:
Metamask is a hot wallet. This means that it’s a crypto wallet that connects to the internet. Like every other hot wallet, this opens it up to a lot of risks compared to a cold wallet.
(As you can probably guess, a cold wallet isn’t connected to the internet).
Private info is stored on the browser:
In the browser extension version of the metamask wallet, the private keys aren’t the only thing that is stored on the browser. The browser can and most probably will gather information on how often and how you use the metamask wallet. This can be a deal breaker for those users who are concerned about keeping their privacy.
Is it safe to buy crypto on metamask?
Yes. Metamask users can securely purchase crypto tokens using the metamask wallet. But we recommend that you only keep a small portion of your assets on metamask wallet. And keep most of your assets on a hardware wallet or at least any cold wallet.
Can your metamask be hacked?
If a hacker stole your metamask assets it’s probably because the hacker infected your computer or device with spyware or malware. If you have stored your recovery seed phrases on your computer hackers could access it easily.
Do I need metamask?
Yes. MetaMask enables users to connect to more than 3,700 various dapps and Web 3 services. One of the main reasons why users love metamask is because of its interoperability. It can both exist on your smart phone and also your personal computer.