![]() ![]() The Ethereum blockchain is a network where users can build their own apps ( which are called dApps) and cryptocurrencies. This means that it works like a bridge between normal browsers and the Ethereum blockchain. MetaMask is a cryptocurrency wallet which can be used on the Chrome, Firefox and Brave browsers. If one fails, gets hacked or goes missing, then at least you’ll have a backup! So, what kind of wallet is MetaMask? What is MetaMask? It’s strongly recommended that you always use more than one kind of wallet to store your cryptocurrency information. They are very safe, just don't spill coffee on them! Again, another form of cold storage as your private key is stored offline. They are pieces of paper with your keys printed on them. They can only be used on the computer they're installed on. They are safer than web wallets, but not as safe as hardware wallets or paper wallets. They are installed directly onto your computer. A popular pick is the Binance hot wallet. They can be used on lots of different devices, but are at risk of being attacked by hackers. Some of the best hardware wallets include the Ledger Nano X, as well as the Trezor Model T. They are a form of cold storage as they keep your private keys offline. They are very safe, but can be expensive. They are removable storage devices like USB sticks. This is why it's so important that they are stored safely where no one can get access to them! There are several different kinds of wallets available - let's lay them out further on in the MetaMask wallet review. Private keys are the only way of proving ownership of cryptocurrencies. How do you prove that an email address is yours? You have the password! If your public keys are like an email address, then your private keys are like the password. Private keys shouldn't be seen by anyone but you.When someone wants to send you cryptocurrency, they will send it to your public key. They work in a similar way to your email address. Let's have a quick look at the difference between public and private keys: This is the information that's stored in crypto wallets. You can't withdraw all your coins and take them home! Users move their cryptocurrency around the blockchain using public and private keys. Ledger is a hardware crypto wallet provider - the company deals in some of the most reliable and trusted hardware crypto wallet devices in the industry!Ĭryptocurrency can be moved around a blockchain, but it can never leave it. Want to know more about blockchain tech? Check out our " Blockchain Explained" guide.ĭon't confuse the term " ledger" with the company of the same name. The most popular kind of cryptocurrency ledger is called a blockchain. These ledgers are a record of all the cryptocurrency transactions ever made. Unfortunately, it's not true. Instead, cryptocurrency wallets simply store information about cryptocurrency.Ĭryptocurrencies only exist on huge databases called ledgers. This makes sense, because that's how the wallet in your pocket works. Some people think that crypto wallets store cryptocurrencies. MetaMask Wallet Review: What are Cryptocurrency Wallets? ![]()
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