Crypto Investments Technology

Metamask – 10 million monthly active users and counting!

Wow that is very good news. We are talking about monthly active users, so that means users that are constantly using the web wallet which would mean that there is indeed still a lot of interest in the cryptosphere. For those who don’t know what Metamask is – it is a “software” wallet extension to interact with web applications like for swapping different tokens or sending tokens to other users. Basically for you to control your tokens when you are interacting with web applications. All you need to do is to connect the web application to your wallet. Of course you will need to approve the connection and the transactions themselves. Pretty easy to use as well. Mobile devices are supported as well. I have been using it since May and it never failed me once. The only issue is the Ethereum gas fees which limits my usage. It is kind of appalling to see the ETH gas fees so high. Definitely not something for the smaller time investors like us. However Metamask supports BSC (as it is basically an Ethereum clone anyways) as well. Just need to do some modifications and you can interact with the BSC blockchain as well. You can also set Metamask to support the Polygon/Matic network. The polygon network is getting some very serious support from developers so you should see way more usage in Polygon soon.

I am very happy for the developers of Metamask (ConsenSys). With the surge in interest in NFTs and the rather bullish sentiments in cryptocurrencies at the moment, I think we should see even more users for Metamask. And by the way Metamask is free for use. I have never paid a single cent for the software wallet. Wonder how they do they make to pay the developers? From what I read, it seems that they are planning or have already implemented to have a “quick swap” feature directly on their web wallet. This means users can quickly swap tokens and perhaps the developers get a small cut of the transaction fees? As this should be a completely decentralized exchange I am also guessing that they have a liquidity pool for the supported tokens? I honestly don’t mind that the developers get a small cut – hey they do need to put food on the table anyhow. And it is very convenient as well. Don’t need to go to Uniswap or other exchanges to get the tokens you want. Just do it directly in the web wallet!

So if you are interested in celebrating with the developers, check out this article. Apparently they are having a virtual party on decentral land. Their growth have been rapid and looks poised to reach even more users. For me I am not a Ethereum fan so most likely I will not be joining any party. Furthermore, I am not into doing “virtual stuff” online. But I am glad that such a wonderful team of developers have achieved such great success. Kudos to the Metamask team!

By Admin

Someone who is very keen on small scale investments like crypto, mining and other investments. For the common folk!

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