Nearly every segment of the crypto sector underwent explosive growth in 2021. The steady inflow of institutional funds could possibly be interpreted as a signal that the best is yet to come.
For new users, figuring out how to obtain cryptocurrency can be a tedious task, and the challenge of securing the assets off exchanges is another hurdle some investors find difficult to overcome.
Here’s a rundown of some of the most used cryptocurrency soft wallets that support a wide swath of tokens and offer users access to decentralized finance (DeFi), nonfungible tokens (NFTs), staking opportunities and airdrops.
MetaMask was originally launched to support the Ethereum blockchain and decentralized applications (DApps) that run on top of it. It is now available as a browser extension and smartphone application.
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.
MetaMask swaps daily volume. Source: Dune Analytics
The rise in swap volume has also come alongside rumors that MetaMask will eventually release a token of its own and many users are…