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Definition: MetaMask Wallet

What is MetaMask Wallet?

MetaMask is a crypto wallet that supports all types of Ethereum-based tokens. MetaMask can serve as a regular crypto wallet, but its real power lies in its seamless connection to smart contracts and decentralised applications.

MetaMask allows users to store and manage account keys, transfer transactions, send and receive Ethereum-based cryptocurrencies and tokens, and securely connect to decentralised apps via a compatible web browser or the mobile app's built-in browser. The MetaMask wallet is a hot wallet, which means it is an internet-connected crypto store.

With your MetaMask wallet, you can receive Ethereum-based cryptocurrencies. This means that you can not only store Ether as the main currency of the Ethereum blockchain with MetaMask, but also cryptocurrencies based on the Ethereum blockchain.

The MetaMask Wallet is now also available for Apple iOS and Android. This means you can easily use the wallet on the go and send ETH and other Ethereum tokens, trade or interact with DeFi dApps.

How does MetaMask Wallet work?

The MetaMask Wallet is a decentralised app (DApp) that can be used as an add-on for the Google Chrome browser and other browsers. The MetaMask Wallet is based on the JavaScript programming language. The MetaMask Wallet is a purely digital wallet and does not physically exist.

After setting it up, you can start right away and buy coins with the MetaMask Wallet, for example, you can buy Ethereum via exchanges or add ERC20 tokens. However, you need to take some time - especially in the beginning. Try out the Ether wallet and test what the add-on can do.

MetaMask is a full-featured browser plug-in for the blockchain

Smart contracts based on blockchain technology are nothing more than automatic contracts. In these 'smart contracts', agreements are thus made between two parties in a completely automated way. A smart contract usually has a time limit and comes into effect when certain events occur. Human supervision is not necessary. Thanks to blockchain technology, it is impossible to manipulate the execution of the contract, which happens in real time. MetaMask is therefore much more than just an Etherum wallet. The Chrome plug-in not only serves as an Ether wallet, it forms an interface to Ethereum in the Chrome browser.

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