MetaMask Wallet Review Australia: Everything Australians Need To Know In 2022
Hello, everyone today in this MetaMask Wallet Review Australia we will discuss the features, fees, pros and cons of the MetaMask wallet Australia
While blockchain is taking its shape as one of the most prominent technologies of the 21st century, the sheer intensity of crypto trading has skyrocketed in the past few years.
To deal with this ever-rising demand, a large number of crypto storage solutions with new innovations have come into the picture and the MetaMask wallet is one of those innovative crypto storage solutions that can operate within the limited operational capabilities of a browser.
MetaMask Wallet Review Australia – Is It A Safe Wallet For Australians?
MetaMask wallet comes with a lot of features that make crypto storage an easy task for its users without the need to have any hefty app being installed in their systems.
In this MetaMask wallet review Australia, we will dive deeper into the various aspects of this wallet and give you a brief overview of how to get started with MetaMask wallet.
So, without further ado, let’s get started.
What Is A MetaMask Wallet Australia?
MetaMask is a modern crypto wallet solution that does not need any application to be installed in the user’s system to function.
Instead of which it operates on a browser with the help of a browser extension that allows it to deliver an extra lightweight experience to its users.
MetaMask crypto wallet is one of those wallets that has been in the picture since the crypto boom and now MetaMask has a strong online community of over 21 million users worldwide.
With a wide range of support for different decentralized applications, the MetaMask wallet emerges as one of the most popular choices when it comes to DApps compatibility.
Key Points On MetaMask Wallet Australia
In this segment of the MetaMask wallet review Australia, we will exhibit 5 major highlights of one of the most popular crypto wallets in the market, MetaMask. The 5 key points could be noted as follows:
◾ MetaMask crypto wallet is a widely popular wallet with a strong community of over 21 million users worldwide.
◾ MetaMask Australia supports tons of decentralized applications and third-party integrations, making it an extremely compatible wallet solution.
◾ MetaMask is purely based on a browser extension and allows its users to use it through a browser at its full potential.
◾ MetaMask cryptocurrency wallet does not store any private keys in their servers and all the keys are stored in the user’s system only.
◾ MetaMask wallet comes with a mission to develop democratized access to the decentralized web and promote individual privacy.
Which Cryptocurrencies Can I Store In MetaMask Wallet?
MetaMask wallet is a completely Ethereum blockchain-based crypto wallet. It supports all the ETH tokens along with ETH-based tokens, e.g. erc20, 721, and other ETC-based blockchain projects.
MetaMask also supports a wide range of NFTs and other blockchain collectibles from around the world and also provides a feature to swap your tokens.
Hence, if you are looking for an ideal browser-based wallet that deals with all the Ethereum based projects, you can surely check out MetaMask.
MetaMask Mobile App
There is a popular mobile application available for MetaMask mobile users on both Android and iOS that allows them to interact with their assets without the need to carry a personal computer everywhere with them.
The interactive design and easy-to-use UI of its application make it a widely used wallet application that allows all Ethereum based transactions to take place.
Without a doubt, the MetaMask wallet app could be called the most popular and trusted crypto wallet for Ethereum based assets.
DeFi And Hardware Wallet Smart Integrations
MetaMask crypto wallet provides a wide variety of DeFi and hardware wallet integrations along with the majority of DApps available on the Ethereum Blockchain.
MetaMask Wallet Australia Features
In this part of this MetaMask Wallet Review Australia, we are going to discuss some of the key features of MetaMask Australia that make it stand out from the pool of regular crypto wallet solutions.
Some of the major features of MetaMask include:
In a recent update, MetaMask wallet updated itself with a new feature of coin swaps, allowing its users to swap their coins without the need to compare prices from different decentralized exchange aggregators and offer the lowest prices to its users through collaboration with AirSwap.
EIP – 1559
EIP-1559 is the technology that has changed the way gas fees have been charged over the Ethereum blockchain.
Previously being charged only on a vague auction basis, the gas fees on the Ethereum blockchain will now be charged on the bases of a non-variable base fee that will allow its users to know how much exactly they’d have to pay.
How To Add Cryptocurrency To MetaMask Australia
Even though the steps to add currency in MetaMask are self-explanatory and all the information regarding these steps is readily available, we are sharing a small piece to help you with adding cryptos to your wallet.
This is a brief step-by-step guide on how to add cryptocurrency to your own MetaMask wallet account, to do that follow the steps chronologically as mentioned in this segment.
- Go to your DApps
- Select CoinGecko
- Scroll down to the token’s address
- Select MetaMask
- Fill in the details regarding the transaction
- Finish the transaction and your coins will be added to the wallet.
MetaMask Crypto Wallet Fees?
As we all know that all the transactions of the Ethereum blockchain take a certain amount of gas to be paid through which the transaction takes place.
MetaMask wallet fee may be on the basis of transactional factors, including the kind of transactions and the amount to be transferred.
It can range up to 0.3% to 0.87% of the total transaction when it comes to currency swaps; however, if you are a US resident and your transactions are way over 25 thousand USD, the transaction fee could be way lower for you.
MetaMask Wallet Australia User Experience
The overall user experience of the MetaMask wallet Australia is guided by many key factors, including the performance of the browser extension, mobile application compatibility, and other equally important issues.
From the perspective of the user, one of the most important aspects could be the customer support feature of MetaMask .
MetaMask has an active support team on Twitter that reacts to complaints almost instantly and helps you with suitable resolutions.
Other than that, one can also raise a ticket through the application and register his/her grievances.
The overall build of the MetaMask wallet is also a crucial point for those users who are too much into tech as its clean and interactive UI can make the use of DApps very smooth and easy, the interactive design can add layers to the total accessibility of the product.
How Secure Is MetaMask Wallet Australia?
One of the key aspects while deciding whether a wallet is the right choice or not, is the aspect of security protocols followed by the wallet.
One of the major highlights in terms of security in MetaMask is its open-source structure, which means the complete code of the application that is available to its community to scrutinize.
MetaMask comes with two-factor authentication, Multi-signature protocols, and Pincode security to add different layers to the user security.
The owner of the private keys is always the user and MetaMask wallet does not store any of the private keys of their users.
However, being a hot wallet, the signatures are done online which could be a weak point in its security, However, MetaMask never faced any security breach or compromised any of the user’s data in the past.
Pros & Cons Of The MetaMask Crypto Wallet Australia
Like any genuine product in the market there are some good and a few bad things about MetaMask wallet and in this segment of the MetaMask wallet review Australia we will cover some of them to make sure that you can know both sides of the coin before making a decision.
Some of the major pros and cons of the MetaMask crypto wallet Australia are as follows:
- The complete code of the application is available for everyone to check and scrutinize and recommend any possible weak points
- MetaMask is one of those rare wallets that can work on a browser extension up to its full potential
- The mobile applications of Metamask are available for both Android and iOS
- Metamask has a powerful community of users that have been loyal to it for years.
- Metamask wallet is one of those rare wallets that have good and responsive customer care support.
- limited accessibility of working with only Ethereum blockchain and ERC-20 tokens.
- hot wallet always has a risk of being potentially under threat of cyber attacks.
MetaMask Wallet Contact And Customer Service
MetaMask is one of those wallets that have responsive and efficient customer service in place.
The users can raise a ticket for an address to their problems or can reach out to the social media team of MetaMask wallet on Twitter that reacts to the mentions of its users almost instantly.
An additional layer in the customer services of MetaMask is a detailed FAQs page that deals with all the most common questions that their user might face and those which do not need personalized support.
MetaMask also has robust community support.
MetaMask Wallet Setup
Even though setting up a MetaMask wallet is quite easy, we are providing you with a quick guide on how to set up the wallet for your use.
Follow these steps to setup your MetaMask Wallet Australia
Downloading The App For Chrome
Go to the chrome extension market or just search for the MetaMask chrome or Firefox extension and you’d be able to install the MetaMask wallet extension with no hassle.
Creating Your MetaMask Wallet Australia Account
Create an account using the signup button and fill in all the details required, followed by creating a secure password for your crypto wallet.
Create A Wallet
After login into the extension, select the ‘Create the wallet’ option from the extension and agree to the terms and conditions of the wallet, and there you go! Now you have a MetaMask wallet.
MetaMask Wallet vs Coinbase Wallet
One of the major differences between MetaMask and Coinbase wallets is in their structure. MetaMask is an open-source wallet however, Coinbase is a closed source wallet.
Another difference between them lies in the Coinbase wallet supporting more coins and blockchain projects than MetaMask’s exclusive nature.
However, both the wallets are non-custodial in nature. That means they do not hold the keys for their users and store them with the users themselves to provide a better security experience.
Coinbase and MetaMask, both of them have browser extensions to take care of all wallet operations.
MetaMask Wallet Review Australia: Conclusion
In the race of gaining extra users for themselves, all the wallets are targeting potential customers from all ends without caring much about customer support and the value provided to their users.
Even in these trends, MetaMask is going beyond its capacity to serve its customers with the best experience and not get distracted.
Sticking to Ethereum only is not a simple task and the MetaMask wallet is making it possible.
In this MetaMask wallet review Australia, we tried to showcase a clear picture of this product and hope that this information will help Australians to make a wise decision while selecting the right crypto wallet as per their needs.