MetaMask represents a wallet that is managed independently by the user. The specific feature is that the responsibility for the safe custody of your assets lies with you. More than five million users already use the MetaMask wallet every month, since the use of decentralized apps is also possible in addition to the regular custody of blockchain-based crypto assets. You can also securely manage your purchased in the MetaMask wallet.
The MetaMask Wallet setup is done in a few steps and we will show you these in detail here. First, go to MetaMask’s site. The main page should look like the screenshot above. There you first click on “Download now”. Here you can already see that you can use MetaMask with different browsers. Choose the browser of your choice and click install MetaMask for. You can then start the next step by clicking on install.
MetaMask Wallet Security
If you need a secure offline cold wallet in addition to your MetaMask wallet, then we can recommend the cold wallet, as it can safely store a large number of cryptocurrencies, but especially with the currently well known crypto game compatible. You can find out more about the security provided in the articles and platforms.
This Is How The Payout Works At MetaMask Wallet
MetaMask itself does not offer the chance of having the cryptocurrencies paid out in euros or dollars. If you want to turn your tokens and coins into money, you have to go through a crypto platform. Here’s how the procedure works:
First you have to choose a suitable exchange. Some examples are Coinbase or the digital exchanges. But cryptocurrencies can also be traded on P2P exchanges. When choosing the exchange, in addition to the trading fees, you should also pay attention to whether it even offers trading in the corresponding coins or tokens that you want to sell. It is also important to find a trustworthy platform. Customer reviews online can help in deciding for or against an exchange.
If the cryptocurrency you want to sell is not listed on any exchange, you must first exchange it for a tradable coin. This can be done either in MetaMask through the swap function or providers such as Uniswap. The largest cryptocurrencies are therefore accepted by almost all exchanges. But be careful: Gas fees are incurred when swapping, which can notably reduce the profit. After the coins have arrived on the exchange, you can sell them there. Depending on the exchange, you can have the amount paid out in different ways. If you have made a profit from the sale of a cryptocurrency, taxes may be due. You can find out more about this in the tax guide for cryptocurrencies.
Also called browser wallets, these are wallets that are integrated into a browser. Thus, they enable interaction with blockchain-based apps. They are usually considered less secure compared to desktop and hardware wallets. Their advantages lie more in their bridging tool and ease of use.
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