MetaMask is a popular browser extension that functions as a cryptocurrency wallet. With MetaMask, you can connect to various blockchains, including Binance Smart Chain, Avalanche, Arbitrum, and Ethereum.
While using MetaMask to buy altcoins and interact with different protocols, it’s crucial to take measures to keep your funds safe. Unfortunately, many bad actors use honeypots, phishing techniques, and hacks as a way to infiltrate MetaMask wallets and steal money. This article will go over a few tips you can use to keep your funds safe.
Top 5 MetaMask Safety Tips
1. Review Smart Contracts Before Connecting
One of the best habits to develop in crypto is double and triple-checking contracts and protocols before you connect your wallet. One of the easiest ways people get scammed is by connecting their wallet to a website, contract, or protocol they think is safe. It’s easy to click on malicious links hidden in emails from scammers or messages from bots on Discord or Twitter.
One of the best ways to make sure a link is safe is by only using links from the official website or Twitter page. If you’re an active participant in Crypto Twitter, you can tell a project is legit if tons of people that you’re following are also following the project. Of course, this isn’t a surefire way to protect yourself, but you can use social proof as a way to verify the legitimacy of a protocol.
Another way to check if a contract is safe is using a website like RugDoc. This website detects contracts that are actually honeypots designed to steal money. Again, websites like RugDoc, isRUG, or TokenSniffer aren’t 100% (they have some safe protocols marked as unsafe), but they are a tool you can use to ensure you’re connecting to a safe contract.
2. Keep Your Password & Keyphrase Off Your Computer
While keeping your crypto password and keyphrase off your computer is inconvenient, it’s a simple way to enhance the security of your setup. Most people have their passwords in a notes application, a Word document, or a text file. The issue is that all your passwords are exposed if your computer gets hacked. Of course, it will take a significant hack to expose these files, but just by keeping this information off your computer, you’ll have one less thing to worry about. You should also never keep your keyphrase and password in the same place – make things harder for thieves.
3. Remove Permissions From Protocols You Aren’t Using
Revoking contract permissions once you’re done using the contract is another way to keep your Metamask wallet safe. Even if a contract is safe initially, there’s still a chance a hack can occur, or the contract owners can turn malicious. For popular protocols like Trader Joe, AAVE, or SNX, you don’t need to worry about this. However, if you’re experimenting on-chain with newly released tokens, this is an excellent practice to develop.
You can use a website like Revoke Cash to track all the contracts connected to your wallet. Paste your wallet address in the search bar to see a list of all the approvals made by your wallet. You can click “revoke” on the far right to disconnect your wallet from the contract.
You can also disconnect your wallet from a contract from within Metamask. Go to a website where your wallet is connected and click on the globe symbol at the top right.
Now you can click the three dots next to your wallet and click “disconnect this account.”
4. Use A Separate Browser For MetaMask
One of the best ways to protect your MetaMask wallet is by having a web browser specifically for crypto. Anytime you click on a link, the link opens in your default browser. If you click on a malicious link and it opens in the browser with your MetaMask wallet, there’s a chance your funds are at risk. Using a different browser for crypto is a simple step you can take to add a layer of security to your wallet setup.
5. Always Keep Enough Tokens For Gas
While this isn’t a security tip, it’s always important to leave enough gas in your wallet so you can execute transactions. Metamask can connect to any EVM blockchain, so you’ll have to use a variety of tokens as gas (AVAX, ETH, BNB, etc), depending on your current blockchain. Running out of tokens for gas will essentially leave you stranded, and you’ll be unable to make any moves. In this situation, you’ll need to deposit more of the gas token into your wallet.
In conclusion, taking a few preventative steps can save you a ton of trouble when it comes to protecting your Metamask wallet. Crypto markets are ruthless, and even experienced users can get tricked. Don’t get too excited or succumb to FOMO, as these emotions make you more likely to make mistakes like clicking on a contract you haven’t checked out because you’re too excited. Using the tips in this article will keep your funds safe as you navigate your way through crypto.