Finding out how to purchase cryptocurrencies may be a challenging undertaking for novice users, and the problem of protecting the assets off exchanges is another obstacle that some investors face.
In 2021, nearly every section of the cryptocurrency industry saw tremendous growth. The constant infusion of institutional capital may be taken as an indication that the best is yet to come.
Here’s a breakdown of the most popular cryptocurrency soft wallets, which support a broad range of tokens and provide users with decentralised financing (DeFi), nonfungible tokens (NFTs), staking chances, and airdrops.
MetaMask was created with the intention of supporting the Ethereum blockchain and the decentralised apps (DApps) that run on it. It’s now accessible as a browser plugin as well as a smartphone app.
The company launched in 2016 and has largely benefited from a first-mover advantage to become one of the most popular and widely integrated wallets, and it is one of the few to support nearly every blockchain network.
A quick scroll through the supported networks on Chainlist, a platform that provides a list of Ethereum Virtual Machine (EVM)-compatible networks and instructions on how to add any listed network to their MetaMask wallet, shows hundreds of blockchain networks supported by MetaMask including many of the top smart contract competitors.
Currently, MetaMask supports Avalanche, Fantom, Binance Smart Chain, Polygon, HECO Mainnet, Optimism and Arbitrum, and it’s easy for users to use various bridges to transfer tokens between the supported networks.
MetaMask has also integrated a swap feature directly into the wallet to give users access to an aggregated list of decentralized exchanges (DEXs). According to data from Dune Analytics, the daily swap volume on MetaMask swap has steadily increased throughout 2021.