How does metamask work?

So I've been using mainly crypto when i was under 18 to buy stuff since I didn't have a card etc, fast forward i haven't used it when it was a crypto boom, and many apps/stuff came out. So I've been looking a bit around meta mask wallet and some people told me it's an online version of cold wallet (It can't ever fall/freeze my funds etc) is it reliable to send crypto to Metamask so that I do not have to worry of dex exchanges getting shut down or such stuff happening?

Metamask is a hot wallet. If you want your crypto secure, get a cold wallet. A physical one.
One quick google search also tells you that metamask is a hot wallet, and not 100% safe. If you got a good virus on your pc your crypto will be gone.
Same is with Exodus or similar wallets.

sscaz said:

So I've been using mainly crypto when i was under 18 to buy stuff since I didn't have a card etc, fast forward i haven't used it when it was a crypto boom, and many apps/stuff came out. So I've been looking a bit around meta mask wallet and some people told me it's an online version of cold wallet (It can't ever fall/freeze my funds etc) is it reliable to send crypto to Metamask so that I do not have to worry of dex exchanges getting shut down or such stuff happening?

Click to expand...

Service providers often tell customers that they are secure and confidential.

But when a problem occurs related to their system, all transactions will be frozen, and they all think it is a problem or an update.

sscaz said:

So I've been using mainly crypto when i was under 18 to buy stuff since I didn't have a card etc, fast forward i haven't used it when it was a crypto boom, and many apps/stuff came out. So I've been looking a bit around meta mask wallet and some people told me it's an online version of cold wallet (It can't ever fall/freeze my funds etc) is it reliable to send crypto to Metamask so that I do not have to worry of dex exchanges getting shut down or such stuff happening?

Click to expand...

Metamask isn’t a cold wallet, it’s a hot wallet. A cold wallet is a wallet that generates a seed-phrase offline. Check out trezor, it’s a very solid open source one, and very affordable. MetaMask is non-custodial, which is already a huge “+” instead of holding your funds on a CEX if you ask me. But definitely look into actual cold/hardware wallet options!

Can you live with a chance of your getting coins stolen?
Yes> Metamask
No> cold wallet

It's a better option imo then CEXes: Binance, Coinbase etc, but if you want your funds to be safe, invest in a Trezor or smth. Good for online payments though, a bit of complexity, but you will find your way around.

The usual scam on Metamask it's when somehow finds one of your crypto addresses and send you a 'scam coin' within the network. Don't click it/withdraw it/ don't do anything related to that coin. If you don't interact with it, you will be fine. The thing with MetaMask is that you can create thousands of wallets, so if you sense that you are targeted, just quietly move your funds. If you don't start tk degen into all kind of projects where you need to pay with metamask, you will be fine

MR.Spuf said:

It's a better option imo then CEXes: Binance, Coinbase etc, but if you want your funds to be safe, invest in a Trezor or smth. Good for online payments though, a bit of complexity, but you will find your way around.

The usual scam on Metamask it's when somehow finds one of your crypto addresses and send you a 'scam coin' within the network. Don't click it/withdraw it/ don't do anything related to that coin. If you don't interact with it, you will be fine. The thing with MetaMask is that you can create thousands of wallets, so if you sense that you are targeted, just quietly move your funds. If you don't start tk degen into all kind of projects where you need to pay with metamask, you will be fine

Click to expand...

mindeswx said:

Can you live with a chance of your getting coins stolen?
Yes> Metamask
No> cold wallet

Click to expand...

N0str said:

Metamask isn’t a cold wallet, it’s a hot wallet. A cold wallet is a wallet that generates a seed-phrase offline. Check out trezor, it’s a very solid open source one, and very affordable. MetaMask is non-custodial, which is already a huge “+” instead of holding your funds on a CEX if you ask me. But definitely look into actual cold/hardware wallet options!

Click to expand...

Black Hat Earth said:

Service providers often tell customers that they are secure and confidential.

But when a problem occurs related to their system, all transactions will be frozen, and they all think it is a problem or an update.

Click to expand...

tiredleon said:

Metamask is a hot wallet. If you want your crypto secure, get a cold wallet. A physical one.
One quick google search also tells you that metamask is a hot wallet, and not 100% safe. If you got a good virus on your pc your crypto will be gone.
Same is with Exodus or similar wallets.

Click to expand...

The thing is there are higher chances of me getting that physical wallet stolen/losing it somewhere/accidentally breaking it than ever getting a virus on my pc, heck I don't even download anything on it. On top of that i would use meta mask via phone only as my phone is even more secure.

sscaz said:

The thing is there are higher chances of me getting that physical wallet stolen/losing it somewhere/accidentally breaking it than ever getting a virus on my pc, heck I don't even download anything on it. On top of that i would use meta mask via phone only as my phone is even more secure.

Click to expand...

If it gets stolen or it breaks it really doesn’t matter as much, if your pc gets hacked you’re still good as long as you don’t store your seedphrase on your pc. You’ll still have the seed phrase backed up to recover the wallet. the whole point of cryptocurrency is decentralization and self custody, hence the saying “be your own bank”.

obviously there’s some risks involved when you manage to lose your seed phrase, i recommend stamping it into a metal plate and storing it. The only thing you really need to worry about is your seed phrase, and hot wallets generate them while being connected to the internet, which as isnt safe as a hardware wallet - which will generate a seed without any connectivity to internet.

sscaz said:

The thing is there are higher chances of me getting that physical wallet stolen/losing it somewhere/accidentally breaking it than ever getting a virus on my pc, heck I don't even download

Click to expand...

Yeah, me too, ADHD is a bitc* in those regards hence I bought a safe value box in a bank and that's it, I keep there some docs, phisical values etc.