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COINTURK NEWS > Cryptocurrency Security > MetaMask Plans to Add Bitcoin Support
Cryptocurrency Security

MetaMask Plans to Add Bitcoin Support

In Brief

  • MetaMask plans to add Bitcoin support to its wallet.

  • New features for Bitcoin might be limited initially and expanded over time.

  • MetaMask continues to serve over 30 million active users monthly.

COINTURK NEWS
COINTURK NEWS 12 months ago
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MetaMask has long been one of the most prominent cryptocurrency wallets globally. Metamask is recognized as a giant in the Ethereum $2,509 (ETH) ecosystem and is the most used wallet on this blockchain. A new piece of news has created a significant impact in the market.

Contents
Metamask Sets Its Sights on BitcoinMetaMask’s Overall Outlook

Metamask Sets Its Sights on Bitcoin

A new move by MetaMask has generated great excitement. According to comments from two people directly related to the matter, there are plans to add Bitcoin (BTC) $103,777 support to the wallets, aiming for one of the biggest advancements in cryptocurrencies.

While there is no certainty on how the process will work, it is believed that MetaMask could take a significant step towards access within the next month. Another informed source mentioned that Bitcoin functionality is not yet fully determined, and the features might be limited initially and expanded over time.

MetaMask’s Overall Outlook

MetaMask’s existing Ethereum wallet continues to serve over 30 million active users monthly. It is believed to bridge decentralized applications and NFTs with the Web3 world. When Ethereum was introduced to the market about a decade ago, it extended the capabilities of a blockchain beyond what Bitcoin offered by adding support for smart contracts.

MetaMask allows users to transact in such an environment. Significant moves have been made since early last year, and new features, including NFT-like Ordinals and Runes, have been added to Bitcoin. This has enabled the creation of meme coins on Bitcoin. It is unknown whether MetaMask’s support will allow users to access these developments on the Bitcoin side.

Looking back at MetaMask’s history, it was created by Consensys, an Ethereum-focused research and development firm led by Ethereum co-founder Joe Lubin. Commenting on the development plans, a MetaMask spokesperson made the following statement:

We are excited about MetaMask’s commitment to embracing the multi-chain world of web3 and continuously exploring new integrated features to enhance the usability and security of the leading self-custody wallet. While we cannot confirm any timelines for specific developments at this time, we are always working on innovations to better serve our users. Stay tuned for more updates as we are ready to share more information.”

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 11 September, 2024 - 11:00 am 22 May, 2024 - 6:47 pm
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