MetaMask Wallet
Wallet Type
Hot Wallet
Supported Coins
Our Rating
Swap Fee
MetaMask is a popular cryptocurrency wallet designed for the Ethereum blockchain.
Available as a browser extension and mobile app, it allows users to buy, sell, swap, and store Ethereum-based tokens (ERC-20 and NFTs). It connects seamlessly to decentralized applications (dApps), including DeFi platforms and NFT marketplaces.
One of MetaMask’s biggest advantages is its Web3 functionality, letting users interact with blockchain applications without relying on centralized exchanges.
It also supports integration with hardware wallets like Ledger and Trezor for added security. Being open-source, MetaMask’s code is transparent and reviewed by the community.
However, MetaMask has some limitations. It only supports Ethereum and ERC-20 tokens, meaning you’ll need a separate wallet for non-Ethereum assets like Bitcoin. It also lacks a desktop application and two-factor authentication (2FA).
What happens if I lose my MetaMask password?
If you forget your password, you can reset MetaMask using your Secret Recovery Phrase. Without this phrase, there is no way to recover your wallet, and your funds will be lost.
Does MetaMask have customer support?
MetaMask does not offer direct customer support. Users rely on community forums, the MetaMask help center, and official support articles. Be cautious of scammers pretending to be MetaMask support.
Can I use MetaMask for NFTs?
Yes! MetaMask supports ERC-721 and ERC-1155 NFTs, allowing you to buy, sell, and store NFTs directly in your wallet. However, NFT auto-detection only works on MetaMask’s mobile app.
Can I store Bitcoin (BTC) in MetaMask?
No, MetaMask does not support Bitcoin natively. However, you can store wrapped Bitcoin (WBTC), which is an ERC-20 version of Bitcoin that runs on the Ethereum blockchain.
How do I buy crypto on MetaMask?
MetaMask allows you to buy ETH and other tokens directly in the wallet using bank transfers, credit/debit cards, and PayPal. However, fees may apply depending on the payment method.
Pros | Cons |
|---|---|
Supports Ethereum & dApps | Only Supports Ethereum-Based Assets |
Non-Custodial Wallet | Limited Security Features |
Hardware Wallet Integration | Ethereum Gas Fees |
Custom Gas Fees & Multi-Network Support | No Direct Customer Support |
Auto-Detects Tokens & NFTs | Hot Wallet: More Security Risks |
Supported Cryptocurrencies & Assets
MetaMask is designed specifically for the Ethereum blockchain and supports a wide range of Ethereum-based assets.
This includes Ether (ETH), ERC-20 tokens (such as USDT, USDC, and DAI), and ERC-721/NFTs used in digital art and gaming.
With over 500,000 ERC-20 tokens available, MetaMask gives users access to many decentralized finance (DeFi) platforms, staking tools, and NFT marketplaces.
MetaMask also allows users to connect to Ethereum-compatible networks like Polygon, Binance Smart Chain (BSC), Arbitrum, and Optimism. This expands its functionality, letting users interact with different blockchain ecosystems while still using MetaMask’s familiar interface.
However, it does not support Bitcoin (BTC), Solana (SOL), or other non-Ethereum assets. While MetaMask is a top choice for Ethereum users, those who want multi-chain support for assets like Bitcoin or Solana may need a different wallet.
Is It Available In The US?
Yes, MetaMask is available in the U.S., and users can download and use it without restrictions. Recently it also launched its debit card.
However, some features, such as buying crypto with fiat, depend on third-party providers like MoonPay, Transak, and Sardine, which may have regional limitations based on state regulations.
While sending, receiving, swapping, and connecting to DeFi applications work across the U.S., the availability of certain services (like purchasing crypto with a credit card or PayPal) can vary by state due to local laws.
Users should check with the third-party providers integrated into MetaMask to confirm if their preferred payment method is supported in their region.
Main Features For Crypto Investors
Here are the key features that I found most appealing in MetaMask Wallet:
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How Secure is MetaMask?
MetaMask offers strong security features but lacks some of the most important ones. Let's break it down:
- Encryption & Local Storage
Private keys are encrypted and stored locally on the user’s device, not on MetaMask’s servers.
- Hardware Wallet Integration
Supports Ledger and Trezor for added cold storage security.
- Open-Source Code
The code is publicly auditable, allowing security experts to review and improve it.
- Biometric Authentication (Mobile Only)
Supports fingerprint and Face ID login on the mobile app.
- Phishing Protection
MetaMask provides alerts for suspicious sites and allows users to set custom token approval limits to prevent unauthorized transactions.
- No Two-Factor Authentication (2FA)
Unlike some other wallets, MetaMask lacks 2FA for additional security layers.
- No Multi-Signature Support
Transactions do not require multiple approvals, making them less secure for shared accounts.
- Vulnerable to Phishing & Malware Attacks
Users are at risk if they accidentally approve malicious smart contracts or enter their seed phrase on a fake site.
- Hot Wallet Risks
As a hot wallet, MetaMask is always connected to the internet, increasing exposure to hacking attempts
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How MetaMask Integrates with DeFi & Exchanges
MetaMask is one of the best wallets for connecting to decentralized finance (DeFi) platforms and decentralized exchanges (DEXs).
It works seamlessly with Uniswap, SushiSwap, Aave, Compound, and other DeFi apps, allowing users to trade, lend, borrow, and stake crypto directly from their wallet.
Unlike some wallets that are tied to a specific exchange, MetaMask is independent and works with multiple DeFi services. Users can buy crypto with a bank transfer, debit/credit card, or PayPal and swap tokens within the wallet.
However, MetaMask does not integrate directly with centralized exchanges like Binance or Coinbase. To move funds, users must send assets manually to and from exchange accounts.
While this adds an extra step, it also ensures users maintain full control over their funds without relying on third parties.
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Fees & Costs: What Does MetaMask Charge?
MetaMask is free to download and use, but users must pay transaction fees depending on the type of activity they perform.
The most common fee is the Ethereum gas fee, which varies based on network congestion. Sending ETH or tokens, swapping assets, and interacting with smart contracts all require gas fees.
MetaMask also charges a service fee of 0.875% on token swaps within the wallet. This fee helps fund the development of the MetaMask platform. Additionally, users who buy crypto within MetaMask using a debit card, PayPal, or bank transfer may face extra fees from payment providers.
To reduce costs, users can adjust their gas fees (choosing lower fees for slower transactions) or use Ethereum layer-2 networks like Arbitrum and Optimism, which offer lower transaction costs.
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Token & NFT Auto-Detection
MetaMask has a built-in auto-detection feature that scans a user’s wallet for ERC-20 tokens and NFTs and adds them automatically. This prevents users from manually entering contract addresses for common tokens.
For NFTs, MetaMask automatically displays ERC-721 and ERC-1155 assets on the mobile app (browser extension users may need to add them manually). This is particularly helpful for users who frequently trade or collect NFTs.
The auto-detect feature reduces the risk of missing assets and makes managing a crypto portfolio easier. However, some newly launched tokens might not be detected immediately. Users can still manually add missing tokens by entering the contract address.
This feature ensures that users can see all their crypto holdings at a glance, making it easier to track investments without unnecessary manual work.
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Buying Crypto With Fiat Money, Deposits & Withdrawals
MetaMask allows users to buy crypto with fiat (traditional money) using various payment methods, including bank transfers, credit/debit cards, and PayPal.
This feature is integrated directly into the wallet through third-party providers like MoonPay, Transak, and Sardine.
However, MetaMask does not allow direct fiat withdrawals. To cash out, users must first send their crypto to an exchange (such as Coinbase, Binance, or Kraken), sell it for fiat, and then withdraw to their bank account.
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How to Send & Receive Crypto with MetaMask
MetaMask makes sending and receiving crypto simple. To receive funds, users can copy their wallet address from MetaMask and share it with the sender.
The wallet supports Ethereum (ETH) and any ERC-20 token, meaning users can receive tokens from various platforms and exchanges.
To send crypto, users need to enter the recipient’s wallet address, choose the token and amount, and confirm the transaction.
Before sending, users can adjust gas fees to control transaction speed and costs.
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Swapping & Exchanging Crypto with MetaMask
MetaMask has a built-in Swap feature that allows users to exchange one crypto token for another without leaving the wallet. This is done through decentralized exchanges (DEXs), which find the best price across multiple platforms like Uniswap and 1inch.
Users can choose the token they want to swap, enter the amount, and MetaMask will display the best available rate.
MetaMask charges a 0.875% service fee on swaps, and Ethereum gas fees apply based on network congestion.
Swapping within MetaMask is convenient because it eliminates the need to move funds to an exchange.
However, users should be aware that prices can fluctuate, and gas fees can be high, especially during peak Ethereum network activity.
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Multiple Network Support & Custom RPC Configuration
While MetaMask is primarily an Ethereum wallet, it also supports multiple Ethereum-compatible networks like Polygon (MATIC), Binance Smart Chain (BSC), Avalanche, Optimism, and Arbitrum.
This allows users to interact with various blockchains without needing separate wallets.
Users can manually add new networks by entering Custom RPC settings, a feature that lets them connect to other blockchains.
Some DeFi applications and NFT platforms operate on these alternative networks, often with lower transaction fees compared to Ethereum.
By switching between networks, users can explore different ecosystems, save on gas fees, and interact with a broader range of dApps.
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Can You Earn Rewards with MetaMask?
MetaMask does not offer built-in staking, but it allows users to stake their Ethereum and ERC-20 tokens through third-party integrations.
Users can connect to Ethereum staking services, DeFi protocols, and yield farming platforms directly through the wallet.
For example, users can stake Ethereum (ETH) via Lido or Rocket Pool, earning staking rewards while keeping their ETH liquid.
MetaMask also supports yield farming on decentralized finance (DeFi) platforms like Aave and Compound, where users can lend their assets and earn interest.
MetaMask Is Non-Custodial Wallet: What Does It Mean?
MetaMask is a non-custodial wallet, meaning users have full control over their private keys and funds.
While non-custodial wallets like MetaMask reduce the risk of exchange hacks and frozen accounts, they also require strong personal security measures.
Users must store their seed phrase offline, avoid phishing scams, and consider using a hardware wallet for added protection.
How to Set Up the MetaMask Wallet?
Let's see the main steps when setting up a MetaMask wallet:
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1. Download & Install MetaMask
To get started, visit the official MetaMask website and download the wallet extension for Chrome, Firefox, Brave, or Edge.
If you prefer mobile, download the MetaMask app from the App Store or Google Play. Once installed, click on the MetaMask icon in your browser to launch the setup process.
Our tip:
🔹 Always download MetaMask from the official website to avoid fake extensions or phishing scams. Many fraudulent versions try to steal your private keys.
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2. Create a Wallet & Set a Strong Password
When opening MetaMask for the first time, you’ll be prompted to create a new wallet or import an existing one.
Choose “Create a Wallet”, then set a strong password. This password will be required to access your wallet but does not recover your funds if lost.
Our tip:
🔹 Choose a unique password that isn’t used elsewhere. Even though your private keys remain on your device, a weak password increases the risk of hacks if your computer is compromised.
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3. Secure Your Secret Recovery Phrase (Seed Phrase)
MetaMask will generate a 12-word Secret Recovery Phrase. This is the most important step because it’s the only way to recover your wallet if you lose access.
Write it down on paper (not on your phone or computer) and store it in a safe, offline place.
Our tip:
🔹If someone gains access to your seed phrase, they can steal your funds. Never share it with anyone—even MetaMask support won’t ask for it.
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4. Confirm Your Seed Phrase & Complete Setup
To finalize setup, MetaMask will ask you to re-enter your seed phrase in the correct order. This step ensures that you have saved it correctly.
After confirming, your wallet is ready to use, and you can start sending, receiving, or swapping tokens.
Our tip:
🔹 Before transferring large amounts of crypto, test with a small amount to ensure everything works correctly. Also, consider connecting MetaMask to a hardware wallet (like Ledger or Trezor) for added security.
FAQ
Yes, MetaMask is completely free to download and use. However, transaction fees apply when sending, swapping, or interacting with the Ethereum blockchain. These fees depend on Ethereum network congestion and the type of transaction.
MetaMask is available in most countries, but some features (like buying crypto via PayPal or credit card) may be limited depending on regional regulations.
To connect a Ledger or Trezor hardware wallet, open MetaMask, go to Settings > Advanced > Hardware Wallet, and follow the instructions to link your device. This adds an extra layer of security.
MetaMask does not allow direct withdrawals to a bank account. To withdraw cash, you must first send your crypto to an exchange (like Coinbase or Binance) and sell it for fiat currency.
Yes, as long as you have your Secret Recovery Phrase, you can restore your wallet on any device. Without the phrase, your funds are permanently lost.
Explore Crypto Wallets
How We Rated Crypto Wallets: Review Methodology
At The Smart Investor, we evaluated crypto wallets based on their overall value, security, and usability compared to other leading alternatives. Our hands-on testing focused on key factors that matter most to crypto users, including fees, security, supported assets, and ease of use. Each wallet was rated based on the following criteria:
- Fees & Costs (20%): We prioritized wallets with low or no transaction fees, transparent pricing, and reasonable network fees. Some wallets had hidden costs for transfers, swaps, or withdrawals.
- User Experience & Interface (20%): A clean, easy-to-navigate wallet with smooth transactions and clear features scored highest. Some had confusing layouts or lacked essential functionality.
- Security & Privacy (20%): We favored wallets with strong encryption, private key control, 2FA, and cold storage support. Some had weak security features, making them riskier for holding assets.
- Automated Features (15%): The best wallets offered staking, yield farming, automated swaps, and AI-driven portfolio management. Others lacked automation or charged high fees for these services.
- Supported Cryptocurrencies (10%): Wallets that supported a wide range of cryptocurrencies, including major coins and altcoins, scored highest. Some only supported a handful of assets, limiting flexibility.
- Compatibility & Integration (10%): We rated wallets higher if they supported multiple blockchains, hardware wallet integration, and DeFi apps. Some lacked interoperability, restricting advanced users.
- Additional Features (5%): We favored wallets that offered buying/selling options, NFT support, fiat on-ramps, and seamless exchange integration. Many lacked these extras, making them less versatile.
