If you have been in the crypto game for quite some time, then you would have probably crossed paths with a few different ways to store your coins, including hardware wallets, desktop wallets, mobile wallets, and even paper wallets.
Today I want to talk to you about the fact that is MetaMask truly safe and secure for you to use and also learn a little bit more about the costs involved through MetaMask sign in.
So let’s get started.
Is MetaMask sign in safe?
MetaMask wallet can be considered sufficiently secure to the extent a browser extension wallet allows. So this does not mean that you are invincible to malware attacks as a user. The only safe link between your MetaMask account and the hacker is your password. In an unforeseen event if the hacker gets remote access to your computer he can get access to your wallet password (which I guess he must have acquired through a key logger or any other similar method), and he will be able to completely drain all your funds away as your private key is stored on your browser all the time.
The only positive point in this is there is no way for an attacker to know your private key as it is safely stored in an encrypted form on the browser but he can still use it to approve transactions it has come across an evil way to gain control of your device.
Through the MetaMask sign in you do not lose any control over your personal or private information as everything is protected in an encrypted format on your very browser. However, MetaMask is still considered a hot wallet, as it is a software wallet that is connected to the internet for the storage of a variety of crypto assets. In general hot wallets are considered to be less secure as compared to cold wallets, which are basically offline storage units for your crypto assets on a piece of hardware.
What are the MetaMask fees?
You must be wondering about the kind of cost which might be involved once you are inside MetaMask.
Every single transaction through MetaMask sign in involves a default gas fee, depending upon the status of the Ethereum network. In addition, users are given the option to change the gas fees and gas limits through an advanced tab that allows parameter customization.
The main difference between fees and limits is that fees are the cost of processing transactions, while gas limits are the highest transaction cost you as a user are willing to bet on a single transaction.
And with that, we have come to the end of our today’s discussion about the safety and costs involved at MetaMask. MetaMask is an excellent place for experiencing the Ethereum wallet that offers security features like seed phrase backup, password protection, and hardware wallet support to secure your crypto assets.
However, like any other crypto wallet, it is not immune to security threats and it's important to follow best practices such as not sharing your seed phrase and keeping your computer and browser secure.
So till next time
Be safe and keep investing.