MetaMask Surpasses 5 Million Monthly Active Users | ConsenSys (2024)

FAQs

How many monthly users does MetaMask have? ›

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.

New York, NY, August 31st, 2021 — ConsenSys announced today that MetaMask now has more than 10 million monthly active users. This represents a 19x growth compared to July 2020, and positions MetaMask as the leading non-custodial wallet by users globally.

According to the announcement of crypto software giant ConsenSys,the popular wallet MetaMask,which people use to store Ethereum ETH $1897.39 and other cryptocurrencies with Web3 applications,now has over 30 million monthly active users.

The wallet, which has over 10 million active users, plans to start collecting users' Ethereum and IP addresses following its privacy policy update. MetaMask supports a broad range of ERC-20 tokens, giving users familiar with crypto assets the best experience.

MetaMask serves over 30M monthly active users and is connected to almost every web3 dapp.

metamask.io Website Traffic by Country

See the global distribution of visitors to your competitor's website and start tapping into overlooked markets. Metamask. io's core audience is located in United States followed by Russian Federation, and India.

The MetaMask crypto wallet has a lot of upsides and is one of the best crypto wallets available. It's one of the most popular crypto wallets because of its simplified setup process, how easy it is to buy and transfer Ethereum-based tokens through the wallet and its access to decentralized applications (dApps).

2.5m wallets are active daily across web3.

MetaMask now counts 21M monthly active users accessing DeFi, NFTs, and more. New York, NY, November 17, 2021 — Today, ConsenSys announced the close of a $200 million USD financing round, bringing its valuation to $3.2 billion USD.

Yes, MetaMask is safe to use to store, transfer bulk payments in Ethereum or ERC 20 tokens since it is a hardware wallet. However, experts still advise storing only small amounts to avoid mishaps as using MetaMask and other crypto wallets is always a shaky experience.

Why is MetaMask expensive? ›

The price of gas is dynamic and is essentially a product of demand: the more people that are trying to get their transactions processed by the network, the higher it will be.

A New York based company named ConsenSys is the owner of MetaMask.

MetaMask is a software, or hot, wallet, which means it stores the keys to your crypto assets using software on an internet-connected device.

metamask. io's audience is 74.94% male and 25.06% female.

Metamask wallets are known for their anonymity and pseudonymity, with no personally identifying information associated with them. However, in certain circ*mstances, it may be necessary to attempt to trace the real owner of a Metamask wallet.

MetaMask is a popular browser extension and a mobile crypto wallet. It allows users to interact with dApps on the Ethereum blockchain. MetaMask has seen a tremendous increase in usage in recent years. According to BanklessTimes.com, active MetaMask users have increased by a whopping 3800% since 2020.

It's wise to keep these separate. Equally, separating wallets could be useful for tax purposes, if, for whatever reason, you need to report different holdings and activity to different tax authorities.

According to data from Dune Analytics, MetaMask Swap earned revenues of $324 million since its launch in October 2020. This is a major feat since Metamask doesn't incentivize its users in the form of tokens. With a negligible customer acquisition cost, profits margins for the company are very high.

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.

Trust and Security

MetaMask wallet can integrate with hardware wallets such as Ledger Nano and add an extra layer of security and keeps the seed phrase safe as well. Coinbase wallet users can use the main Coinbase exchange platform to store a majority of their funds as they get insurance coverage.

What network is best for MetaMask? ›

By default your MetaMask wallet is connected to the Ethereum Mainnet network.

Due to the nature of the blockchain, users cannot permanently delete an account on the Ethereum network. If you no longer want to use MetaMask, simply uninstall.

By comparing Ledger vs MetaMask overall scores, we clearly see that Ledger has the higher overall score of 9.5. MetaMask, on the other hand, has scored 7.9 final points.

MetaMask was created by ConsenSys in 2016.

Who is Aaron Davis? Aaron Davis is the Founder of Metamask, a browser extension tool that acts as a bridge that allows you to run Ethereum dApps right in your browser without running a full Ethereum node. Prior to this, he was an employee at Apple Inc.

Metamask is a browser extension which facilitates sending transactions. It utilizes Infura to send the transactions to the blockchain. web3 is a library to facilicate handling Ethereum transactions. You can send direct transactions with it as long as you have access to a node.

Unlike other centralized exchanges, MetaMask connects to decentralized applications and smart contracts. You can perform actions and events using dApps. Typically, these actions require payment in Ethereum or a crypto token.

It was founded in 2018 and is based in New York, New York.

It's been widely reported that users will be able to purchase a maximum of $400 worth of crypto per day, but Wyre, a payments API company that MetaMask is using for the Apple Pay integration, lists a $500 daily maximum in their documentation.

MetaMask locally encrypts your secret recovery phrase with your password. That means that when you lock your wallet, no one can use your funds until you enter your password again. If you forget your password, you can regain access to your account with the SRP, as it's the key to access your wallet that only you hold.

Can I use MetaMask on two devices? ›

One of the benefits of using MetaMask is that you can use your Secret Recovery Phrase to access your wallet on multiple computers or smartphones. You're not bound permanently to any single device. To access your wallet on a new device, use your Secret Recovery Phrase to restore your wallet.

Do I need to pay for withdrawals? Withdrawals using MetaMask Swaps are subject to: Gas fees. The 0.875% MetaMask Swaps licensing fee.

In most of the cases, the transaction can be processed immediately by making a higher offer. On the contrary, if you choose low gas fees, the transaction would stay in the queue for a longer than expected period. Metamask users can select the gas fees before making a transaction. By doing so, you can lower the gas fee.

Click on the fee, and a menu will appear with a slider, and another option to click on 'Advanced Options'. The slider lets you pick between three options that describe how much gas you want to pay: 'Low' involves paying less for gas, and most likely waiting longer for your transaction to complete.

Ethereum Daily Active Addresses is at a current level of 409070.0, up from 406157.0 yesterday and down from 421804.0 one year ago. This is a change of 0.72% from yesterday and -3.02% from one year ago.

MetaMask funds are stored in hot wallets: In order to make it as easy as possible for users to access, trade, and use their crypto, MetaMask stores all of its users' assets in hot wallets, i.e. digital crypto wallets that are perpetually connected to the blockchain.

Can MetaMask Hold Bitcoin? No, MetaMask Wallet can not directly custody Bitcoin (BTC) from the Bitcoin blockchain because it is not Ethereum Virtual Machine (EVM) compatible. However, it is possible to hold a wrapped version of Bitcoin, called WBTC (Wrapped Bitcoin), on a MetaMask Wallet.

When you buy crypto in MetaMask, you're not buying crypto with or from MetaMask: you're buying with the provider you choose. If you want to manage any personal information that the providers hold, you must access the provider's platform directly, log into your account, and make the changes there.

Metamask is an ETH wallet that allows users to store, send, and receive digital assets. However, because it is decentralized, Metamask does not have any reporting obligations to the IRS. This means that the IRS cannot keep track of your Metamask transactions unless you report them yourself.

How many people own a crypto wallet? ›

What Is Bitcoin's User Growth? Blockchain.com reported having around 85 million blockchain wallet users (or owners of exchange accounts) worldwide as of February 2023. In January 2021, the same website reported having only about 66 million blockchain wallet users worldwide.

More than 73 million gamers use the Web3-based Fortnite and Roblox. Blockchain games grew by 2,000% between Q1 of 2021 and Q1 of 2022.

Metamask does not have to send any information to the IRS because Metamask is an ETH wallet, and the IRS cannot keep track of Metamask.

Does MetaMask provide a tax report? No, MetaMask doesn't provide a tax report.

MetaMask is a self-custodial wallet, which means we cannot control access to user accounts, nor intervene and rescue your account or funds for you.

Popular Web3 wallet MetaMask continues to grow rapidly.

Crypto software giant ConsenSys announced on Tuesday that its popular wallet MetaMask, which people use to store Ethereum and other cryptocurrencies with Web3 applications, now has over 30 million monthly active users.

MetaMask was created by ConsenSys in 2016.

The price of gas is dynamic and is essentially a product of demand: the more people that are trying to get their transactions processed by the network, the higher it will be.

Current value of 10000 WEB3 in USD is 14,600 USD

This is the real-time data fetched from our partnered price aggregators. At the moment, you are looking at the conversion of 10000 WEB3 when 1 WEB3 is valued at 1.46 USD.

How to become a millionaire in Web3? ›

Trust and Security

MetaMask wallet can integrate with hardware wallets such as Ledger Nano and add an extra layer of security and keeps the seed phrase safe as well. Coinbase wallet users can use the main Coinbase exchange platform to store a majority of their funds as they get insurance coverage.

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Web3 gives you ownership of your digital assets in an unprecedented way. For example, say you're playing a web2 game. If you purchase an in-game item, it is tied directly to your account. If the game creators delete your account, you will lose these items.