The industry of NFT has fast grown into a space worth million in the last year. It is a perfect way of buying a few rare digital pieces and later selling them to make a good profit. To start doing it, you must know where to store your NFTs. MetaMask is one such wallet. Let’s check if it is an excellent fit for storing your NFTs. If you want to gain significant exposure to the popularity of digital currency, bitcoin is a great investment.
What is MetaMask?
It is an Ether wallet. MetaMask has been designed for holding crypto tokens apart from NFTs. It is used for interacting with other apps on the Ether blockchain named dApps. You can hold and store Ethereum and other ERC-20 tokens too.
It is vital to note that this wallet is a hot or browser wallet. You can add it as a Chrome extension to get access easily to cryptocurrency and NFT marketplaces.
Once you get an idea of ways of using this wallet, you can enjoy the benefits of owning a decentralized wallet.
Pros of MetaMask
You must have a basic idea of the history and function behind MetaMask. So now it is essential to know what makes it a popular choice to store NFTs and coins. Here are some of the pros to choosing MetaMask as your wallet.
Easy interface: Some cryptocurrency and NFT wallets can often be very challenging to navigate. You may have difficulty understanding the user interface without a technical expert. MetaMask makes sure that its users face no challenges using its platform. This is because they provide a simple user interface that anyone, on average can easily understand.
Trustworthy customer support: One of the main concerns when storing NFTs in a wallet is it has a trustworthy customer support team. It is crucial as you do not know when you will face problems with your wallet and it can be a security concern. MetaMask offers you a trustworthy customer support team. They will be available 24/7 to clear your doubts.
No fees for exchange: MetaMask is a wonderful place for storing NFTs and coins. This is because they do not charge any fees for the exchange. This whole platform is entirely free to use. You can cash out all earnings without any extra charges. So MetaMask is one of the most well-known NFT wallets.
Cons of MetaMask
It has some great benefits, but there are some reasons why MetaMask did not make it that far in this industry. Here are some of its cons.
Hacking risk: MetaMask is a hot wallet. It means that your data is not totally safe as your choice of browser will have access to it too. A hardware wallet will be a better alternative. Thus you will be able to store all data outside the online realm where a constant concern is a cybersecurity.
Not much variety: It is gaining popularity fast. Yet it has to provide a proper array of tokens to select from. Unlike other crypto or NFT wallets, where you can include any token, MetaMask is limited to only Ethereum and ERC-20 tokens. It makes it out to be one inferior wallet if compared to some others.
Slow speed of transactions: It has been facing some reports that its transactions are very slow. Individuals said it would take a long time for their NFTs to appear in their MetaMask wallets. It is very stressful and also frustrating.
Alternatives MetaMask
If you are planning to buy an NFT on Open Sea, you need to research the best wallets for storing the NFT.
MetaMask is an excellent wallet for storing NFTs. It depends on you if you wish to make the decision depending on the benefits and drawbacks.
Trust Wallet and Coinbase Wallet are among the most famous alternatives to MetaMask as one NFT wallet. You may wish to try ZenGo and MyEtherWallet.
Conclusion
NFTs are a valuable investment to hold. This is because they can make you huge money. Use MetaMask for making short-term investments. A valuable asset must be stored in something very secure such as a cold wallet. You will find many ways to make money using NFTs. If you hold them for the short or long term, it is vital to have a strategy in mind to avoid losing any money.
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