Main differences between between Wigwam and MetaMask
More convenient user experience
Try out wallet and enjoy intuitive interfaces, advanced NFT Tab, Transaction tab, etc
Work with popular EVM-blockchains from the box
Forget about manually adding new blockchains or switching them in wallet while working with dApps in different networks.
Unique icon generation for each wallet ensures you're always secure from phishing threats
See the full comparison Table
WEB3 (dApp) connect
Hardware Wallet Support
Advanced transaction bar
Automatic Token Detection
Token Allowance Revoke
Default Gas Settings
Buy Crypto with Fiat
Metamask wallet Review
With Metamask, you may store cryptocurrency in a non-custodial hot wallet that links you to decentralized blockchain networks. You can download it as an app for iOS or Android smartphones or a browser plug-in.
Short History of Metamask
MetaMask was developed by ConsenSys and founded by Ethereum co-founder Joseph Lubin. The wallet was released in 2016, before the boom of the DeFi sector. Until 2020, it was limited to being a Firefox and Google Chrome plugin.
You can download the non-custodial hot wallet as an iOS and Android mobile app as well as an extension for Google Chrome, Firefox, Brave and Microsoft Edge. It automatically connects decentralized smart contracts of applications so that customers can use the protocol and make cryptocurrency transactions without creating an additional wallet.
MetaMask is one of the most popular wallets in the Ethereum ecosystem. ConsenSys reports that as of early 2022, there were over 30 million monthly active customers of the application — a 42% increase from April 2021.
The Metamask wallet allows customers to track, buy, exchange, link and earn through staking with digital assets. It supports ETH and any tokens built on EVM-compatible blockchains, because Ethereum is only one of them. Note that to display some tokens in MetaMask, you have to import them manually.
Among the wallet's other important characteristics are:
- Assistance with hardware wallets. MetaMask's extension supports Trezor, Ledger, Lattice, Keystone and AirGap Vault. Keystone is supported on mobile devices. The company is in the process of expanding the mobile version with more hardware wallets.
- Token exchange within the app. Both the mobile app and the browser extension offer exchange capabilities. All you have to do is click the "Exchange" button to start a transaction. Exchanges are subject to a 0.875% service charge.
- Buying tokens straight from the wallet. With MetaMask, purchasing tokens is simple and only requires clicking "Buy." There are several networks and payment choices available. However, the specifics may change based on where you live.
- NFT assistance - you may store NFTs in this wallet.
- In MetaMask, you can create multiple accounts, each with its unique address. You can top-up your balance directly in MetaMask by using a credit card. When you buy tokens, for example, on Binance, you will need to select the coin (USDT) and network EVM on the exchange and enter the MetaMask wallet address for the transfer.
This non-custodial hot wallet has several significant advantages, including:
- Well-thought-out design;
- Wide variety of cryptocurrency support;
- Multi-platform support;
- High level of security.
Because the Metamask extension is written in largely open-source code, users may help improve the service and find possible security holes in wallets.
MetaMask weak points
The Metamask wallet also has its own disadvantages. Here's what you should know:
- Internet connection vulnerability;
- Poor usability;
- Phishing site dangers;
- Potential disruptions in provider operations.
"Hot" wallets will always be at risk since these storage options are internet-connected. While there are no known instances of Metamask hacking, there is still a chance of hazard.
This crypto wallet is among the most widely used ones for Ethereum exchanges. Many traders who deal with Ethereum and other cryptocurrencies use this option.
FAQ about Metamask wallet
When you create your wallet, you are given twelve words that make up the Secret Recovery Phrase. Your private or confidential information on servers is not within MetaMask's control. Everything is secured by your MetaMask password and encrypted in your browser. Developers are improving the wallet's security to eliminate any chance of unwanted access
MetaMask stores private keys on the user's device. This is an advantage because no one has access to your private key.
If you have forgotten your Metamask Wallet password, click the "Forgot Password" button when you open the login form. In this case, you will need to enter the Secret Recovery Phrase, which consists of 12 words, into a particular text field, not your email or phone number. You get this phrase when you register, so save it in case you forget your password.
Change the leading network to Polygon by clicking "Ethereum Mainnet" at the top of the screen. You only need to confirm the settings after that.
Unlock your MetaMask wallet and click on the account logo in the upper right corner to add the BSC network. Then, swipe down and tap "Networks." You should click "Add Network" to get a list of all added networks.
To view the selection screen, click the name of the account. To get the deletion option, hold down the name of the account. It will vanish from MetaMask as soon as you confirm it.
About Wigwam wallet
Dive into the future of decentralized finance with Wigwam, the all-in-one crypto wallet tailored for the Web 3 ecosystem. Whether you're a newbie or a seasoned crypto enthusiast, Wigwam offers a seamless blend of functionality and security.
Buy, Sell, and Hold
Experience limitless crypto transactions.
Dive right in with pre-loaded blockchains.
Swap tokens with ease using our intuitive inbuilt exchange.
Unique icon generation for each wallet ensures top-notch phishing protection.
View, manage, and transfer your digital collectibles effortlessly.
Real-Time Portfolio Tracking
Stay updated with instant token value insights.