Almost everything crypto or metaverse-related requires a metamask! What the hell is a metamask anyway, you may wonder? Here’s a guide to get you prepped. In this virtual realm, it’s so important to know how to secure your metamask wallet.
Secure Your Metamask Wallet Now!
Trusted by over 21 million global users, Metamask is a unique and innovative e-wallet that provides you with the ease of transactions to the Ethereum world. This includes swapping, sending, and receiving tokens, coins, and NFTs. In addition, it offers a gateway to blockchain applications and numerous crypto wallet facilities.
You can easily access the Ethereum blockchain straight from your web browser extension or a mobile device with Metamask. In addition to allowing users to interact with the Ethereum blockchain and DApps, it allows you to use other EVM Blockchains such as Polygon, BSC, Avalanche, Harmony, Fantom, and more.
Significance of Securing Metamask
Just like the other digital wallets and tools, you must pay keen attention to securing your Metamask wallet. This way your money stays safe at all times.
Wondering how to protect your Metamask wallet?
This article contains an overview, tips, tricks, and steps to keep your Metamask wallet 98%+ secure. The protection should be against theft, hacking, stealing ID, etc. So, let’s dive in!
To keep our Metamask wallet secure, we must first understand the potential threats to our Metamask wallet. Phishing, digital scams, and hacking are among the most popular threats that we should know about to keep our metamask wallet secure.
Be Aware of Common Phishing Attacks and Scams Targeting Metamask
The usage of Metamask and similar apps have crossed 2 million users. Unfortunately, with the increase in usage, there is also an increase in threats and phishing attacks.
Here are a few pointers that will help you stay alert from phishing and scammers.
Fake Metamask Support Systems:
Metamask’s official system never asks for private information like passwords. Don’t confuse the customer support system with phone calls; scammers might also send you an email stating your account will be suspended, and you need to resubmit your wallet details. The best way to identify the fake support system is by checking the domain extension from where the email is received. See the example below:
Fake Airdrop Tokens:
Do not respond to any notification stating that you get airdrop tokens from Metamask and ask for your information, including the seed phrase. Once you enter all the desired information, it is only a matter of time before the scammer takes away all your money. What happens in Fake Airdrop tokens is the trader receives a congratulatory message that they have won airdrop tokens. However, when the wallet holder tries to use their tokens to maybe buy ETH, nothing happens! and the trader is diverted to a third-party website where they are asked to fill in their personal information, including their seed code.
Another way to airdrop scam is, while the trader tries to buy something; a pop-up containing the metamask logo and name appears asking for confirmation. Usually, we confirm such pop-ups without reading if they seem to project the website we are using. However, these pop-ups might appear like from metamask, but in reality, confirming them will mean that the user is providing the third party with access to their wallet.
It is important to save trusted URLs and not to go about with Google search links. The scammers make websites that look very similar to Metamask or other NTF minting websites; this makes it easier to fool the user. Only search through trusted links; once found, keep it bookmarked in your browser.
Asking for Emails:
If any website or official support system claiming to be Metamask asks for your Email, do not reply. Metamask doesn’t require your emails. However, these emails will probably take you to a document where you must enter your personal information, including your seed phrase.
The seed phrase generated by the app is a master backup key that provides a shield for your wallet against probable phishing attacks. Simply put, “if the 12-word phrase is safe, your wallet is safe.”
Alongside keeping your seed phrase secure, you must identify the phishing websites and avoid using them. Any website or notification to click a link that is not trustworthy is a red flag. Beginners should be especially careful. The user should, under any circumstances, share their password or seed phrase with anyone.
Secure Your Metamask Wallet from Hackers
A trader with a wallet must connect it to a hardware wallet. A hardware wallet is an essential element of the blockchain ecosystem that provides you with safety while you interact with the blockchain. However, a hardware wallet doesn’t store your cryptocurrencies but keeps your information private, secure, and saved. This private key stored on the hardware wallet serves as the key that connects you to the blockchain, where your cryptocurrency resides.
So, if you have stored your private key in your hardware wallet, and if a hacker gains access to your computer and its information, it will all be useless to them.
There are two ways to secure your metamask wallets from hackers while linking them to hardware wallets;
Live ledger serves as a bridge between Metamask and Ledger Nano, which embeds a built-in OLED display and can be connected to any hardware computer via a USB. As a result, you can simply double-check each transaction with just a click. Here are the steps to configure it.
- Open “live ledger” and then download the Ether app.
- Go to the Ethereum app and close the “live Ledger.”
- In Ether app: go to Setting >enable Blind signing
- In your wallet, go to “connect Hardware wallet.”
- Select “ledger”
- Choose the account you want to connect to the hardware wallet
- Enter your password
- Your “Ledger” can now be used like your Metamask
MGH aims to make NFTs accessible to the users on the Ethereum blockchain network. It requires you to connect your Metamask wallet to it for making any transactions. Furthermore, it offers you additional safety by showing a “Confirm Swap” option for every transaction you make so that you can be prompted about every transaction involving your e-wallet and assets.
Here is how you can configure it:
- MGH for Metamask
- Open Metamask
- Choose “import token”
- Enter the token contract address
- Now click on “add custom token.”
- You can choose your favorite DApp to work with your Metamask
Contract Address: 0xc3C604F1943B8C619c5D65cd11A876e9C8eDCF10
Token Symbol: MGH
General Tips & Best Practices to Keep Metamask Secure:
As Metamask is a self-custody wallet, only you know your account and its information. Therefore, Metamask cannot recover the password or the account for you if something happens. Here are the tips that you must consider to ensure maximum protection.
- Do not give your 12-word seed phrase to anyone.
- Secure your password in a safe place. It is preferred if it is written and secured in a water and fire-proof place.
- Get a password manager. This will make it a lot easier to handle, but make sure to form a strong and loop-free password for the password manager. Do not use this password for any other accounts as this holds and secures all your major accounts’ passwords. It will be a great loss if you lose this one.
Advance Security Setting for Metamask
Once you apply all the general practices, you might want to go a step further; it is the smart thing to do. There are steps that you can follow and make Metamask even more protected depending on the medium you are using it through. There are basically two mediums where you can install the Metamask wallet:
- Desktop (browser extension)
- Mobile devices like phones
For both of these, you can follow a step-to-step guide to protect the wallet.
Step-Wise Guide to Web Browser Extension Protection
As the browser extension is on a computer, you will have to time the logging in. This will enable the wallet to log out on its own if the auto-timers clocks.
Step 1: Go to Settings > Advanced > Put Auto-lock Timer to less than 5 minutes.
Step 2: Go to Settings > Advanced > Experimental features must be turned off
Step 3: Go to Settings> Advanced > Choose your preferred ledger connection type for hardware wallets.
Step 4: Go to Settings > Security and Privacy > Turn the notification of the incoming transactions on
Step 5: Go to Settings > Security and Privacy > Turn the phishing detection on
Step 6: Go to Settings > Security and Privacy > Turn participates in Metametrics off
Step 7: Go to Settings > Alerts > Turn alerts on
Step 8: Go to Settings > Turn any experimental features off
Step-Wise Guide to Mobile App Protection
The mobile device is always with the user, it is easy to keep the wallet protected as you can always control and protect the device almost.
There are a lot of settings that you can change in the wallet to make it more fortified.
Step 1: Mobile App > Settings > Security and Privacy > Put Auto-lock to less than 30 Seconds
Step 2: Mobile App > Settings > Security and Privacy > Choose entering passcode/password option rather face ID.
Step 3: Mobile App > Settings > Security and Privacy > Turn Privacy mode on
Step 4: Mobile App > Settings > Security and Privacy > Clear cookies and privacy data regularly
Step 5: Mobile App > Settings > Security and Privacy > Turn participation in Metametrics off
Step 6: Mobile App > Settings > Security and Privacy > Mobile App > Change passcode specifics to mobile
It is important to keep your wallet safe. Even though nothing will guarantee full security, you can still manage to keep the wallet from being hacked or scammed. Always keep in mind the password and follow the steps stated above. Make sure to change the settings as directed, every now and then.