.svg)
.webp)
This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
Do you have ideas or suggestions for changes? Then we look forward to your feedback! We make every effort to keep all metrics and information as up-to-date as possible. However, if you discover an error or outdated information, we would be delighted to hear from you.
Feel free to write to us:
A wallet that is “open source” makes its software code public (e.g. on Github). Either the entire program code or at least significant parts of it are publicly accessible. This has the advantage that many parties can review the code and security gaps or other vulnerabilities are discovered and improved more quickly.
The so-called "private key" is a unique sequence of numbers and characters and the private key that gives you direct access to and control over your cryptocurrencies. The private key is used to sign transactions. In simple terms, it can be seen as a digital fingerprint that proves that you are the owner of the cryptocurrencies. If you store your cryptocurrencies on so-called "custodial wallets" (e.g. crypto exchanges), you are not the owner of your private keys.
The anonymity of “non-custodial wallets” is generally relatively high. However, there are differences between providers when it comes to collecting and storing user data. There can also be differences in the ordering process for hardware wallets as to which user data is stored and for what period of time
The so-called “secure element” is a chip (microprocessor) that stores your private key and is separated from the rest of the hardware. This special chip gives the hardware wallet significantly more protection against local, physical attacks. Depending on the chip, a different level of security can be offered. Some chips can be compromised with less effort, while with others this is only possible with special equipment and is extremely complex.
The so-called “secure element” is a chip (microprocessor) that stores your private key and is separated from the rest of the hardware. This special chip gives the hardware wallet significantly more protection against local, physical attacks. Depending on the chip, a different level of security can be offered. Some chips can be compromised with less effort, while with others this is only possible with special equipment and is extremely complex.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
Some wallets offer an integrated trading function within the wallet to buy and sell cryptocurrencies directly. This functionality is usually made possible by a connection to the web interface of an exchange. The integrated trading function in wallets offers enormous advantages: cryptocurrencies can be bought in the same place where they are to be stored. The manual transfer of cryptocurrencies from an exchange to your own wallet is therefore no longer necessary, which can save time and money.
Multisignature wallets or multisig wallets are wallets that require at least two private keys to sign a transaction. This additional process makes it possible to greatly increase security against unwanted access, for example through personal threats. This security mechanism is particularly useful when storing particularly high assets.
If the hardware wallet or the device with the corresponding software wallet is lost or damaged, there is no need to panic. As long as you have your private key or recovery seed (also called “seed phrase”) in your possession, you can restore your wallet at any time. The recovery seed is a combination of 12-24 words and is the most common backup method for wallets. Important: Keep your recovery words and private keys secret and never share them with other people!
.svg)
MetaMask
Overview
Quick Facts
MetaMask is a leading software wallet for Ethereum-based tokens, serving as both an interface and browser for Web3 applications. Its browser extension is the most popular method for connecting and interacting with decentralized apps, including Web3 gaming, DeFi, and NFTs.
Heading
Pro's & Con's
- Popular interface for Web3 applications
- Compatible with hardware wallets
- Ability to purchase cryptocurrencies within the app
- Slightly complicated for beginners
- User interface could be more intuitive
- Does not support Bitcoin storage
- Only supports EVM blockchains
- Some tokens need to be added manually
MetaMask
Hardware
Offer and features of
MetaMask
Functionality
Unique Features
- Access to Web3 apps
- Browser extension
- Connection to hardware wallets
Platforms
Our
MetaMask
Review
Test Result
Conclusion
MetaMask is a straightforward wallet supporting all blockchains compatible with the Ethereum Virtual Machine (EVM). Within the Ethereum ecosystem, it functions seamlessly, providing easy access to Web3 applications. MetaMask is often required for these applications as a login alternative for account verification and creation. Therefore, MetaMask is more of an interface to Decentralized Finance (DeFi) and decentralized apps rather than a traditional wallet for managing a crypto portfolio. For the latter, there are better apps available that offer more comfort, easier setup, and simpler operation. However, MetaMask has long been the go-to choice for accessing Web3 and NFTs. This is gradually changing as more wallets now offer similar functionality through browser extensions.
MetaMask
User Reviews
The user-friendliness of MetaMask is mostly rated positively. Users appreciate the easy integration into browsers as well as the intuitive user interface. However, there are criticisms regarding the mobile version, which is sometimes perceived as less intuitive and user-friendly.
MetaMask receives a lot of praise for its integrated Ethereum-based DApp browser and its compatibility with numerous Ethereum-based projects. However, some users want additional features such as more account management tools and improved transaction tracking.
Although MetaMask is primarily focused on the Ethereum ecosystem and supports ERC-20 and ERC-721 tokens, MetaMask recently added support for Binance Smart Chain and other EVM-compatible networks. This has significantly improved the user-friendliness and versatility of the wallet. Nevertheless, some users continue to express the desire for broader support for other blockchain ecosystems.
In terms of security, users praise the complete control they have over their private keys, as MetaMask is an uncustoded wallet. There is occasional criticism regarding possible phishing attacks and the need to be vigilant as a user.
While some users see MetaMask as a good entry point in the use of DApps and Ethereum-based projects, there are also some who find it less beginner-friendly, especially due to the complexity of some features and the general uniqueness of Ethereum ecosystem interactions.
Opinions about MetaMask's customer support are mixed. Some users report quick and helpful responses, while others complain about long response times and insufficient support.
Overall, MetaMask is mostly rated positively by users, especially due to its extensive integration and support of Ethereum and Ethereum-based DApps. However, there are mixed opinions about beginner friendliness and customer support, and some users express concerns about the security and limited support of non-Ethereum ecosystems. All in all, the experience of the users is positive, which indicates a general satisfaction with the MetaMask wallet.
About
Heading
MetaMask
About the author
Ethan is the go-to crypto guru at Exchange Flow, with nearly a decade steering traders through crypto exchange platforms worldwide, Ethan brings welcome clarity to the complex terrain of digital currencies. His hands-on approach to testing and analyzing exchanges worldwide makes his reviews and articles valuable information for readers and newcomers in the crypto world. Beyond his crypto expertise, Ethan is a retro gaming enthusiast and an explorer at heart, using his crypto gains to fuel adventures around the world. Dive into Ethan’s articles and reviews for a global perspective on cryptocurrency that’s as enlightening as it is engaging.