MetaMask Surpasses 10 Million MAUs, Making It the World's Leading Non-Custodial Crypto Wallet
- From 545,080 monthly active users in July 2020 to 10,354,279 in August 2021, MetaMask has grown over 1,800% in just one year
- It is the fastest growing non-custodial wallet in the world in terms of monthly active users
- There are now more than 10 million monthly active users across the globe using MetaMask to access the decentralized web where they swap tokens, borrow, lend, mint and buy NFTs, play games, and much more.
New York - August 31, 2021 (Investorideas.com Newswire) ConsenSys, the market-leading blockchain technology company founded by Ethereum co-creator Joseph Lubin, announced today that MetaMask now has more than 10 million monthly active users. This represents a 19x growth compared to July 2020, and positions MetaMask as the leading non-custodial wallet by users globally. MetaMask is both a mobile app and browser extension that functions as a cryptocurrency wallet for interacting with the Ethereum blockchain and any Ethereum-compatible network like Polygon, Arbitrum, and Optimism.
The Drivers Behind MetaMask's Growth
MetaMask's exponential growth has tracked closely with that of the Ethereum ecosystem. In 2019, $2 billion in crypto assets were committed to Decentralized Finance (DeFi). Today, Ethereum supports a flourishing Decentralized Finance (DeFi) ecosystem with over $80 billion in assets under management.
MetaMask is the primary way a global user base interacts with DeFi applications, along with the vast universe of approximately 17,000 unique Web3 domains, which include rare digital goods marketplace OpenSea and NFT-based online games.
MetaMask was first created in September 2016 and has been a central catalyst in the adoption of decentralized applications on Ethereum. The launch of the mobile version in September 2020 has played a crucial role in rapidly bringing new users from global markets such as the Philippines, Vietnam, China, India, Indonesia, Thailand, and Brazil.
The launch of token swaps on MetaMask mobile in March 2021 also exponentially accelerated user growth.
"MetaMask defined a new kind of cryptocurrency wallet, where users don't just interact with currencies, but with decentralized applications, and we are constantly making these new kinds of applications more safe and accessible to a broader audience," said Dan Finlay, MetaMask Co-Founder. "We're letting users explore new ways of establishing trust on the internet," he added.
MetaMask Users Geography
As of August 2021, the top 15 countries using MetaMask include: The Philippines, United States, Vietnam, United Kingdom, China, India, Russia, Brazil, Indonesia, Thailand, Turkey, Germany, France, Canada, and Spain.
DeFi is addressing the limits of "Traditional Finance" (TradFi) such as: substantial geographical barriers around the movement of capital, extensive paperwork, tons of intermediaries, lack of transparency, and high fees. It is challenging the existing TradFi policies that sometimes exclude minorities and low-income earners. The early and massive adoption of crypto in emerging markets is an example of how DeFi is solving TradFi market inefficiencies.
Non-Custodial Wallets vs Custodial Wallets
Until recently, custodial wallets were leading the democratization of access to crypto assets. The main uses were focused on trading different cryptocurrencies, such as Bitcoin or Ethereum, through a wallet where the private keys are held by a third party: the custodian. This means third-party custodians operate with full control over user funds while users only have to give permission to send or receive payments. Like a bank, but digital.
MetaMask is different. It is now the leading non-custodial wallet which allows users from all over the world to hold and own their private key, giving them full control of their funds. There is no need to trust a third party to secure your funds and return them if you want to trade or send them somewhere else. MetaMask allows users to be their own bank and take control over their own finances in a private and secure way.
"MetaMask owes its growth to our community. They are constantly coming up with new ways to build and organize, and are always pushing us to improve in countless ways. As long as we can continue to help unleash their creativity, while keeping users safe, I think we'll have an exciting future," concluded Dan Finlay.
This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the system manager. This message contains confidential information and is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system. If you are not the intended recipient you are notified that disclosing, copying, distributing or taking any action in reliance on the contents of this information is strictly prohibited.
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com