MetaMask is a popular non-custodial cryptocurrency wallet that garnered immense attention in the wake of the 2021 lockdown-induced rise in NFT usage. Developed by Dan Finlay and Aaron Davis in 2016, it operates under blockchain technology company ConsenSys Software Inc. As a non-custodial wallet, MetaMask requires users to take complete responsibility for their wallets, leaving no central organization to manage them. Supporting a variety of blockchain networks, including Ethereum, Polygon, Arbitrum, and Optimism, it offers storage for crypto, NFTs, DeFi products, and DApps.
Becoming increasingly popular, MetaMask reached an impressive milestone of over 10 million daily active users in August 2021. This number grew to 20 million by September during the peak of the Web3 boom. According to CoinGecko, as of August 1, 2023, MetaMask had accumulated approximately 22.66 million installs, a striking number compared to the 11 million downloads of the crypto wallet from voice competitor, Coinbase.
Users can install MetaMask on their mobile devices through iOS and Google Play or as a browser extension through Google Chrome’s Web Store. Comparable to a physical wallet, it enables users to fill it with various cryptocurrencies either by transferring fiat currency from their bank accounts or transferring crypto from their current crypto exchange account. It also allows for conversions between different cryptocurrencies and offers an accessible platform for storing and viewing NFTs.
Downloading MetaMask is straightforward. It is freely available on the iOS and Android App Stores. The digital crypto wallet is also accessible for desktop use as a browser extension for Chrome, Firefox, Brave, Edge, and Opera. After downloading, users can create an account by following a simple set of instructions.
Despite MetaMask’s popularity, several viable alternatives exist for self-custody crypto wallets. These include the Coinbase Wallet, released in March 2023, which stores private keys directly on the user’s mobile device. Trust Wallet, on the other hand, specializes in storing tokens powered by the Ethereum blockchain, including those built on ERC-20 and ERC-721. Phantom Wallet, developed in 2021, is a Solana blockchain-focused self-custody wallet. Each one offers unique features, ensuring options for different user preferences and needs in the fast-growing world of cryptocurrencies and blockchain technologies.
