Quick Answer 🔍
How many people use Metamask in 2024?
There are more than 21 million monthly active users of Metamask.
Metamask is a cryptocurrency wallet as well as a gateway to blockchain apps.
It is available as a mobile app, and a browser extension, and it equips its clients with a key vault, token wallet, secure login, and token exchange.
In this article, we are going to discuss Metamask statistics, and everything you need to know about it including how many people use Metamask. Let’s do it.
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Key Metamask Statistics 2024
- There are more than 21 million monthly active users of Metamask
- Metamask is owned by ConsenSys AG
- ConsenSys AG is valued at $3.2 billion
- This is a 38-times increase from 2020
- Metamask connects you to more than 3700 apps
- Metamask makes Ethereum more accessible
Detailed Metamask Statistics 2024
1. ConsensSys AG Is Now Valued at $3.2 Billion
ConsenSys AG just announced that they produced another funding round, which brought its valuation to $3.2 billion.
New investors include Third Point, Marshall Wave, and Think Investments.
2. ConsensSys Plans to Unlock the Collaborative Power of Communities
ConsensSys has the goal of unlocking the collaborative power of communities, by allowing for web3 to be accessible, easy to use, and easy to develop on.
3. Metamask Is the Easiest Way for Individuals to Interact with Web3 Applications
There are now 21 million MetaMask monthly active users, which is a 38-times increase from 2020.
Metamask is now the easiest way for people around the world to interact with unique applications that use web3.
There are currently 3700 applications that use web3.
4. Web3 Lets Creators Organize Their Work in Real Time
Web3 makes it really easy for creators to capture the true value of their work, and for communities to organize in real time, without having to worry about things like boundaries and borders.
Applications include decentralized autonomous organizations, NFT marketplaces, and decentralized finance applications.
5. Metamask Is the Leading Self-Custodial Wallet
Metamask is the leading self-custodial wallet which means that it is a digital authority manager for web3.
This means that it only permits apps and websites to access data that a user gives permission to.
It also includes an in-app swap feature that has allowed for more than $10 billion in peer-to-peer token swapping.
6. Metamask Supports Ethereum Layer 2 Networks
Metamask also now supports layer two networks that are compatible with Ethereum which include Optimism, Polygon, Avalanche, and more.
7. Metamask Institutional Integrates Compliance and Custody Solutions
Metamask institution integrates compliance solutions and custody solutions that allow organizations to engage and access decentralized finance.
8. Infura Is Responsible for ConsenSys Developer Tools
As far as infrastructure and developer tools, Infura is responsible, which is used by more than 350,000 developers.
Developers choose this system because of its industry-leading performance and scale, based on class documentation and additional resources to assist developers by spending less time on infrastructure, and more time building.
9. ConsenSys Is Integrating Other Products with Infura
ConsenSys is continuing to integrate other products that it produces with Infura to support the complete development lifecycle, for writing and testing smart contracts, automated testing tools, and securing smart contracts.
Why is Metamask so Popular?
One of the biggest reasons why Metamask is so popular among existing and new cryptocurrency users is because it is easy to integrate with almost all platforms that are Ethereum based.
As you can see from the Metamask users statistics that we’ve talked about above, with over 21 million monthly active users, it is a pretty popular wallet service.
One of the things that makes it so popular is the fact that it is free, and you can use it either through a web browser extension, or through your smartphone, on an app.
This means that you are able to directly download it onto your phone through Mozilla Firefox, Google Chrome or any other browser.
It is considered a hot wallet service, and this means that it is permanently connected to the Internet, which means that you are easily going to be able to move your cryptocurrency assets around, whenever you need to.
Whether you are trying to create your first NFT, blend assets through a decentralized finance protocol, or just buy and transfer tokens that are Ethereum-based you were going to need to make the most of something like Metamask.
This is going to let you store any assets that you develop or buy and connect to any platform that is built on the Ethereum blockchain.
Identifying Your Public Address
There are a couple of things that you need to think about when using your Metamask wallet for the first time.
The first is identifying your public address. This is the address that you can share freely with people or platforms so that you can receive cryptocurrency into your Metamask wallet.
Consider this your home address, that you share with people that are receiving inbound mail.
However, we always recommend that you make sure that any inbound tokens are compatible with Metamask first, otherwise you could end up losing them forever.
You should be able to easily locate your Metamask public address by selecting the ‘account one’ button on your home screen.
Instead of having to manually type it in whenever you needed to use it, you can select the layered square icon underneath this, so that you can automatically copy it.
Funding Your Metamask Wallet
When it comes to funding your Metamask wallet, you will need to do so with ether, which is the native cryptocurrency of Ethereum.
All actions that you take on the blockchain are going to cost you a fee, whether you are moving tokens around, or creating your NFT collection.
How much you choose to fund your Metamask wallet with depends on how much you are intending to interact with the various exchanges.
FAQs
What is Metamask?
Metamask is a free cryptocurrency wallet software that you can connect to virtually from any platform that is based on the Ethereum blockchain.
This means that you can use it to buy and transfer tokens that are Ethereum-based, and you can also come up with your own brand new NFT collection, which you can store safely in your wallet.
If you want to connect to a platform, using your Metamask wallet, you will need to make sure that it is built on top of the Metamask block chain.
What Advantages Does Metamask Have?
One of the biggest advantages of Metamask is that it is popular, which means that it is commonly used, and you will only need one plug-in in order to access a wide range of apps.
It is also simple. Instead of having to manage a private key, all you need to do is remember a list of words, and transactions are signed on your behalf.
Another advantage of Metamask is that it saves space. You don’t have to download the Ethereum blockchain, because it sends requests to nodes that are outside of your computer.
Lastly, Dapps are designed to work with it, which means there is going to be a lot easier to send Ethereum in and out.
What Disadvantages Does Metamask Have?
One of the biggest disadvantages that Metamask has is that it holds private keys within your browser.
This isn’t as safe as a paper or hardware wallet. However, it is a pretty good compromise considering how easy it is to use.
The other disadvantage is that instead of being a full node, it relies on external notes, and sometimes they’re going to have downtime, which means that Metamask might stop working.
Final Thoughts
As you can see from the above Metamask statistics, there is a lot to be said for this browser extension and app that can help you access everything to do with the Ethereum blockchain.
With millions of people already using it every month, we have no doubt that it is only going to get more popular, so watch this space.
