Ethereum works as a platform for various other cryptocurrencies (Ethereum Tokens), as well as for the execution of smart contracts. Go to the Metamask Chrome extension here. Ethereum is a decentralized open-source blockchain that has its own cryptocurrency, Ether.
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How to Create an Ethereum wallet using Metamask?
We can also add custom networks like Binance Smart Chain(BSC) and interact with the dapps on BSC. We can store all kinds of Ethereum-based tokens on Metamask.īeing a web-based wallet, we can use Metamask to interact with all the dapps present on the Ethereum network. Metamask is available as a Chrome extension. An Ethereum wallet should be capable to store not only Ether but also tokens like ERC-20 and ERC-721 tokens that were built on Ethereum. What is an Ethereum Wallet?Īn Ethereum wallet is used to store Ethereum's native token, Ether. These tokens can be transferred across the Ethereum network. These dapps have their own ecosystem and most times their own token to operate on their platform. There are different types of software wallets like a Desktop wallet, where you can download a wallet on your PC, a mobile wallet which is a kind of a mobile application, and a Web wallet which is a browser extension.Įthereum is an open-sourced decentralized network where we can build and deploy decentralized applications(dapps). Software wallets are some kind of application. These are often referred to as Cold wallets or Cold Storage.Ĭoming to Software wallets, they are connected to the internet all the time. These kinds of wallets completely eliminate the risk of a hack. Hardware wallets are physical electronic devices that are not connected to the internet. There are Hardware, Software, and Paper wallets. There are different types of cryptocurrency wallets. Every wallet has its own address to receive cryptocurrency.
A cryptocurrency wallet is used to store cryptocurrencies.
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