There is one very important question to ask yourself when deciding whether to withdraw a wallet after reading this
Is MetaMask safe?
MetaMask did not suffer from major robberies. It uses HD backup settings and has a strong community of developers who are updating its open-source code. However, the bag is online, so it is more vulnerable than hardware bags and other cold storage types.
The most common danger facing the MetaMask wallet is the criminal attack of identity theft. The crime of stealing sensitive information is a scam that fraudsters use to steal personal information such as usernames and passwords.
The phishing scam of the MetaMask wallet can work as follows:
This type of attack is more common in online wallets. MetaMask works with tracts for this type of problem, but users are responsible for their own safety, so be careful! If you use MetaMask, use only one tab at a time to make a transaction, and keep your wallet locked if you do not use it.
So, is MetaMask safe? The answer here is kind of yes. Online bags are only as secure as their users. So, if you are illegally streaming Game of Thrones episodes with the MetaMask open wallet and your Ether disappears, don't say I didn't warn you!
On the other hand, hardware bags have extra layers of protection - everything from custom PIN codes, to advanced features to keep your belongings safe.
Now that we have had a serious discussion about browser security, let’s get to the most exciting parts of this MetaMask wallet update - that is, how to set up MetaMask, and how to use MetaMask.
Risks of Using MetaMask
Let's take a look at a few of the MetaMask wallet features.
Access to Browser Privacy Information: As a browser wallet, the MetaMask wallet will not have access to your information.
But the browser will collect information about how and when you use the app. This could be a blocker for potential users of the MetaMask wallet.
Hot money wallet: MetaMask is a hot money wallet and as we all know, hot wallets are at risk of online threats such as robbery, identity theft, and theft.
Limited currency options: The MetaMask wallet only supports Ethereum and ERC-20 tokens.
Important: Safety Tips for MetaMask Users
Even though MetaMask works for its own safety, users are still advised to open one tab at a time when making a crypto transaction and keep their MetaMask wallet locked when not in use.
Here are a few tips to consider when using the MetaMask wallet:
- Make a backup copy of your secret recovery clause
Your MetaMask recovery phrase is the only way you can restore your account so it is very important to keep this 12-word recovery phrase safe. It should be noted that all your information in MetaMask is encrypted in your browser and protected by a MetaMask password. So, this recovery sentence is the only one that can restore your account in case you lose your accounts.
Do not share your secret key
If anyone has access to your private recovery clause or your private key will be able to have full access to your wallet. Always remember that MetaMask never asks for this information, and it is recommended that you never share this information with anyone.
Instead, consider using a hardware wallet
A hardware wallet is the safest of all wallets. If you have a large number of Ethereum or ERC-20 tokens, you should choose a hardware wallet instead of a software wallet.
So, is MetaMask safe? The answer is yes. But the key points mentioned above will help you to keep your digital assets safe.
Thank you so much for reading share your thoughts in the comment section : )
Warm regards,
@Winy
