MetaMask, the leading non-custodial crypto wallet provider, has introduced a groundbreaking feature that allows users to directly manage Bitcoin and several other cryptocurrencies. Following their recent integration of the “Sell” option into their wallet, MetaMask is now unveiling “Snaps,” a significant enhancement in the cryptocurrency realm. Let’s take a look at this MetaMask Snaps article in more detail.
What are MetaMask Snaps?
“Snaps” are plugins developed by third parties to expand the capabilities of MetaMask. Beyond Ethereum-based tokens, users can now accommodate Bitcoin within their MetaMask wallet. Snaps lets users enhance their MetaMask wallet with added features. These features, known as snaps, are made by outside developers and can be directly set up within the MetaMask wallet.
However, unlike with EVM-compatible networks such as Arbitrum, BNB Chain, and Optimism, users can’t simply integrate their network into the Web3 Wallet. Instead, they must first implement a third-party plugin. With the help of these plugins, known as snaps, users can handle Bitcoin and other non-EVM-compatible digital currencies via MetaMask.
Historically, owning both Ethereum and Bitcoin meant that users required separate wallets for their non-custodial management of each. The innovative aspect of “Snaps” is that it theoretically allows any cryptocurrency to be managed through just one Web3 wallet – MetaMask. Moreover, it opens the door for developers to seamlessly integrate their wallets.
How to use Snaps?
Here’s a simpler version of the instructions:
How to Use Snaps in MetaMask:
Conclusion
The Snaps Open Beta stands out as it will feature a selection of pre-approved Snaps. These have undergone checks both by external parties and the MetaMask team. This Open Beta is the initial move towards a system without restrictions. The ultimate goal for Snaps is to have it completely open, free from any overseers.