Metamask Wallet Review 2021 | Safe ETH Wallet?
For the safe storage of cryptos, you will need a crypto wallet. In this Metamask review, you can read about this well-known ETH wallet. Are you a cryptocurrency trader yourself, or are you curious about the advantages Metamask offers? Read further in this Metamask review how you too can make use of this wallet!
Metamask Review: Get started with Metamask in 4 steps
1 - Choose a broker: Find a place where you can easily buy cryptocurrency, such as the popular broker eToro!
2 - Deposit money: Transfer money to your account through one of the available (online) payment methods to get started right away.
3 - Choose and buy a crypto currency: Decide which currency you want to buy and complete your transaction!
4 - Transfer the coin to your Metamask wallet: Send the coin from the broker to your own Metamask wallet (if possible).
Buy coins to fill your Metamask? Create an account at eToro via the green button!
In this Metamask review, we will explain how the software of this crypto wallet works, we will look at Metamask reviews from other users, we will answer the question "is Metamask safe?", and you can get started quickly by following our simple step-by-step plan.
Metamask Review: What is Metamask?
Metamask is an application that you can use within the browsers Google Chrome, Mozilla Firefox, Microsoft Edge and Brave. You can easily download and install the application from the Metamask website or from the browser shop, such as the Chrome store.
Metamask is also available as an application for your iPhone or Android phone. This way, you can use the application in several places at once, while using the same account and thus the same wallet.
In the Metamask application you can create different wallets in which you can store Ethereum tokens. You can buy these tokens through Metamask but you can also easily send them to your Metamask wallet from, for example, a broker where you buy the tokens.
Next, you can use the wallet with websites or applications where you can use Ethereum tokens. This way you don't have to create a separate wallet for these different websites, you can use the same wallet everywhere and it will be easy to keep an overview.
Furthermore, within Metamask you can easily exchange tokens for each other; this can be done both from the smartphone application and from within your browser. Metamask makes sure they check all the places where you can exchange tokens with each other, to be able to offer you the best possible price.
How do I use the Metamask wallet myself?
To use Metamask yourself, you first need to download the application and make sure you have cryptocurrency you can send to the wallet. To buy cryptocurrency, you will need to go through some additional steps.
In the step-by-step plan below, we will help you from the first step, choosing a broker, to the last step: sending the crypto to Metamask. We give two suggestions for brokers where you can get started, you will have to choose yourself which broker is most suitable for you.
When choosing a broker, look carefully at the user-friendliness of a platform that suits your experience with investing. There are also differences in costs, the offer of a broker and the way you trade the coins.
Step 1: Choose an online broker | Step 3: Deposit money | Step 5: Buy your crypto and send it to Metamask |
|---|
Step 1: Choose an online broker
There are more and more places to buy cryptocurrency online and you will probably also come across more and more advertisements from large crypto exchanges. Nowadays, there are also many user-friendly online brokers that offer cryptocurrency.
This opens the world for investors who do not have much knowledge about cryptocurrency, but still want to invest in the coins. Below, we have highlighted two of these online brokers and you can easily get started right away via the green buttons below the brokers' review.
Metamask Review: Buying Crypto at eToro
One of the most popular brokers in the world is eToro and they offer several dozen different cryptocurrencies. eToro is known for its user-friendliness and is very suitable for novice investors.
The popularity of eToro is not only due to the high user-friendliness of the platform. The broker namely also offers a number of handy extra options which you cannot find at other brokers.
For example, you can use the Copy Trading Function, with which you can easily view and copy the portfolios of other investors. This way, as a beginner you can easily see how much risk you're taking and what the expected return is.
In addition, eToro has the advantage that in addition to cryptocurrencies, you can also invest in many other trading products. For example, the broker also offers shares, ETFs, indices, commodities and currencies.
When buying and selling shares and ETFs, you pay 0% commission at eToro. This allows you to achieve an even higher return when trading these products with this broker.
For investors who have never worked with an online broker, there is the option to start with a free demo account. In this demo account you get virtual money with which you can try out the platform, there is no difference between the functions you get with a free demo account and a real account.
Once you are ready to start with a real account, it is important to put money on your account. Again, eToro is the best choice for beginners because you can start the first time with a low minimum deposit of $50 (€42).
eToro is a safe and reliable broker and is monitored by several regulators. For example, eToro is registered with the Cypriot regulator CySEC, but because of its office in England, it is also regulated by the British FCA.
Would you like to start buying cryptocurrency at the world's most popular broker? Then quickly create an account at eToro using the green button below!
Metamask Review: Buy Crypto at Libertex
Another popular broker is Libertex. This broker has been around for almost 25 years now and has also added cryptocurrencies to its range for some time.
However, there is a difference in the way you buy cryptocurrencies at Libertex compared to eToro. At Libertex, you trade all products as a CFD, which means that you do not invest in the currency itself, but enter into a contract with the broker in order to speculate on the price of a currency.
This does provide the possibility of adding a leverage effect, stop-loss and take-profit. On the other hand, it has the disadvantage that you do not obtain the coin itself and therefore cannot send it to Metamask.
Libertex has an office in Cyprus and is registered with the Cypriot regulator CySEC. They monitor whether all financial transactions at this broker are carried out according to European legislation, so you can be sure that this broker is safe.
Go to the Libertex website now via the green button and register with an e-mail address and password!
Step 2: Create an account
Now that you have been able to choose from the brokers above, the time has come to create an account. At both brokers, this is easy, but for this example we will use eToro.
At eToro, you can simply create an account with your email address or choose to log in using your Facebook or Google account. After this step, you can immediately use the free demo account.
In order to access a real money account, you have to go through a verification process. During this verification you will send a copy of your ID and fill in a questionnaire about your knowledge and experience of investing.
Step 3: Transferring money to account
You receive a message from eToro when the verification has been checked and approved. From that moment, you can start using real money in your eToro account.
To switch from virtual account to real account, click on 'virtual' at the top right of eToro just below your name and switch to 'real'. The account must then still be filled with money.
That's easy to do via the "Deposit money" right at the bottom. You then see the screen opposite with the various payment methods, to start at eToro you have to deposit at least $50 (€42) the first time.
Step 4: Find a good cryptocurrency for your Meta wallet
Now that your account has been created and your account has been filled with money, nothing stands in the way of making your first investment. You can easily search via eToro using the search bar or go to trading markets and filter on cryptocurrency there.
Then you can click on a particular coin to get more information about this coin. In this way, you can browse through different cryptocurrencies and find the appropriate coin for your portfolio.
Step 5: Buy your crypto currency and send it to Meta Wallet
When you have chosen the coin you would like to invest in, click on trade. You get to see the screen opposite with the choice of how much you want to invest.
You can switch between amounts or units yourself; in the example shown here exactly 1 Ethereum is bought, but you can also buy a small part of a coin.
Once the coin is bought, you can see the investment back in your portfolio. From your portfolio, you can choose to leave the coin there or send it to your Metamask wallet.
For this, you need the address of your Metamask account, then you can easily send the coin and you will find it back on your Metamask account.
Enthusiastic about this Metamask review and want to get started yourself? Then create an account at eToro today!
Metamask review: How do you use Metamask?
The first time you use Metamask, it may seem a bit unclear. The most important thing is to make sure there is cryptocurrency on your Metamask account.
You can do this by buying crypto directly from Metamask or by sending the crypto you bought from a broker like eToro to Metamask. This is easy to do by looking up your address at Metamask and entering it where you want to send the crypto from.
It may take a while before the crypto is actually sent. Please wait until you receive the crypto; from then on you can use Metamask to the full.
It is possible to easily exchange your cryptocurrency for other Ethereum tokens using the swap button. Metamask always looks for the cheapest price for these swaps by scouring many platforms for the lowest prices.
Now that you have the coin or token you want to use, you can turn on the Metamask wallet when you go to the website where you want to use crypto. There are a lot of examples of games you can play from your Metamask wallet, but you can also use decentralized exchanges from your Metamask wallet.
Do you want to start playing cryptocurrency based on this Metamask review? Simply create an account at eToro and start filling your wallet today!
Is Metamask Safe?
It is very important that your cryptocurrency wallet is as safe as it can be. This is why many users ask the question "is metamask safe?", and the simple answer to this question is: yes!
As with everything in the world of cryptocurrency, you do depend on the security of the wallet. Make sure nobody has your codes and that the device you have installed Metamask on is not accessible to other users.
To make it even safer, you can choose not to use public Wi-Fi spots or even use a VPN so no one can find your internet history.
Start yourself with the secure software of Metamask or first invest in cryptocurrency through a broker like eToro!
How are the Metamask customer reviews?
There are many negative Metamask reviews online from customers who did not know how to use the software. For example, you can read Metamask reviews from customers who are overwhelmed by high transaction fees or think they have lost their money because the transaction was not carried out immediately.
These Metamask reviews are not relevant if you have the knowledge to use the software, because most of these Metamask reviews come from users who have not studied the software. Other Metamask reviews that are positive, however, state that the software is well constructed and safe to use.
An important point which does come up in the negative Metamask reviews, is that Metamask's customer service is not good. It often takes a long time before you receive a reply to your messages.
Pay close attention to the transaction fees that currently apply to sending Ethereum or Ethereum tokens; these are very high and can be a big part of low amounts. It is also wise to find out first how long it takes to send a transaction.
This way you will not have any surprises and you do not have to contact Metamask's customer service. Still having doubts after this Metamask review? Then take a look at other Ethereum wallets we have described on this website.
Always read Metamask's reviews carefully before opening your wallet, and always use a safe and reliable broker like eToro to make your cryptocurrency purchases.
Metamask Review: Frequently Asked Questions
Metamask is an application for making it even easier to use your cryptocurrency within browsers and on your phone. Within Metamask, you can also buy coins yourself and exchange them for other coins.
At present, the Metamask application is only suitable for tokens running on the Ethereum blockchain. You can use the application in the Google Chrome, Mozilla Firefox, Microsof Edge and Brave browsers, or as an iPhone or Android application.
To the question "is Metamask safe?", the answer is simple: yes! As long as you are careful with your backup codes and nobody else has access to the device you are using Metamask on, the service is completely safe.
In addition, you can always look up Metamask reviews to see if other users find the application safe. In general, the Metamask reviews speak highly of its security.
There are several applications you can use Metamask for. Within the application itself, for example, you can exchange tokens cheaply for other tokens.
Besides that, you can use Metamask on websites which implement the wallet, so you can use tokens on a certain website directly from your Metamask wallet. It also features an identity vault, so you can manage multiple identities to sign transactions on different sites.
There are many different wallets on the market and many of them have the same browser application as Metamask. For instance, you can use the Coinbase wallet, the Binance Chain wallet or a wallet like Argent or Fortmatic. As you can see, there is plenty of choice, but for storing and using Ethereum tokens Metamask is the best choice.
On a website like Trustpilot, you can find a lot of negative Metamask reviews. These Metamask reviews are mostly from users who did not fully understand how Metamask works and therefore lost money or crypto.
There are also many people who complain about the high transaction costs of the Ethereum network. However, this is not the fault of Metamask itself, but is always present when you use the network.
Metamask Review: Conclusion
Metamask is an application for cryptocurrency users who actively use the coins or would like to exchange them for other coins. In principle, the Metamask software is easy to use, as it is a small programme which you install in your browser.
Many users have to get used to it the first time, because Metamask does not explain how everything works very clearly. The software assumes that everyone who uses Metamask has enough knowledge about the Ethereum network and therefore will not be faced with surprises such as transaction fees.
This causes many beginners to be dissatisfied the first time they use Metamask, which is why there are many dissatisfied Metamask user reviews online. If you have enough knowledge and know what you are doing when you use Metamask, it is a very safe and suitable wallet.
Start buying cryptocurrency now!
Simply create a free account at eToro and start with your demo account or immediately with real money and make your first investment in cryptocurrency today.
