Self Custodial Wallet
Review
Pros & Cons
Key Benefits
MetaMask offers a user-friendly, self-custodial wallet. Its open-source nature and intuitive UI give users full control over their funds.
Blockchain Simplification
MetaMask simplifies transactions by managing private keys and automatically signing transactions. It shows confirmation windows for ease.
dApp Support
It enables easy access to decentralized apps and smart contracts, typically requiring Ethereum payments. MetaMask streamlines interactions with these platforms.
Red Flags
Phishing Vulnerability
MetaMask users can be targets of phishing attacks aimed at stealing personal information.
Limited Token Support
MetaMask does not support non-Ethereum based cryptocurrencies like Bitcoin, Litecoin, Dogecoin.
Hot Wallet Risks
Being an online wallet, MetaMask faces higher risks of hacks and browser attacks compared to offline hardware wallets.
IP Collection
As per a revised policy from November 2023, MetaMask collects user IP addresses and Ethereum wallet addresses during transactions, raising privacy concerns.