Metamask: The Open-Source Self-Custody Wallet You Can Trust (2024)

FAQs

Is MetaMask a self-custody wallet? ›

MetaMask includes a self-custodial (also commonly referred to as non-custodial) cryptocurrency and token wallet. It gives you complete control of your access keys and therefore your assets.

All your transactions on MetaMask will generally be public, all someone needs is your wallet address to view the transactions. Almost all blockchains - including Ethereum - are public ledgers. That means anyone - the IRS included - can view the transactions a given wallet has made.

MetaMask is safe and legit — it is trusted by more than 30 million users across the globe! When using any wallet, you should take steps to protect your cryptocurrency from hacks and malicious requests.

Yes, it's legal to use a MetaMask wallet in the US currently. However, non-custodial wallets are facing pressure from regulatory authorities to collect customer data in the future. MetaMask doesn't currently require any personal information to open an account, but this may change in the future.

Transactions made using MetaMask are recorded on the blockchain and are publicly available. Others can only identify your transactions on block explorers (such as Etherscan) if they know your account's public address.

MetaMask does not control any of your personal or private data on their servers. Everything is encrypted in your browser and protected via your MetaMask password. Its safe to store crypto on metamask just don't share your private key or passphrase.

Do I have to pay taxes when using MetaMask? Yes, MetaMask transactions are considered taxabale events under capital gains tax or income tax in many countries.

Despite the pseudo-anonymity of cryptocurrency transactions, they are traceable. Transactions on public blockchains, such as Bitcoin and Ethereum, are visible to anyone, including the IRS, which can potentially match 'anonymous' transactions to identifiable individuals.

In short, you need to remove any remaining funds from your compromised wallet (to a new or existing wallet that is secure) and make sure the scammer can't access any other sensitive personal or financial information on your device, whether related to MetaMask or not.

Is there a fake MetaMask wallet? ›

If you think you're on a full-screen version of MetaMask and it doesn't have a URL that clearly shows it as an extension page, it's not a legitimate version of the wallet, and you should close it immediately.

MetaMask Portfolio's Sell feature allows you to easily cash out your crypto assets to fiat currency (USD, EUR, GBP).

Upd. Users from Venezuela and Iran report on Twitter that they have been blocked from using the crypto wallet MetaMask and can no longer access the NFT marketplace OpenSea.

By essence, anyone in any country in the world can use MetaMask. MetaMask is a self-hosted wallet that interacts with Ethereum and other blockchains through nodes, the most popular of which are run as a service by Infura.

The SEC alleged that Consensys acted as an unregistered broker through MetaMask Swaps by facilitating trades, providing curated pricing, advising on trades, routing orders via its smart contract, and charging transaction-based compensation.

MetaMask is a self-hosted wallet that interacts with Ethereum and other blockchains through nodes, the most popular of which are run as a service by Infura. As a matter of convenience, MetaMask uses Infura nodes by default to read and transact on the Ethereum blockchain.

When a crypto user takes sole possession of their wallet's private keys instead of trusting them to an exchange, they are self-custodying their assets. Security conscious crypto users typically prefer self-custody because they can maintain total control over their funds, requiring no third-party involvement.

MetaMask is a software cryptocurrency wallet used to interact with the Ethereum blockchain. It allows users to access their Ethereum wallet through a browser extension or mobile app, which can then be used to interact with decentralized applications.

MetaMask is the leading self-custodial wallet. The safe and simple way to access blockchain applications and web3. Trusted by millions of users worldwide.