Dhiraj Nallapaneni is a Crypto Tax Writer at CoinLedger. As an Economics degree holder from the University of California Santa Barbara, he’s well versed in topics like cryptocurrency markets and taxation.
Reviewed by:
David Kemmerer
Reviewed by:
David Kemmerer
Co-Founder & CEO
David Kemmerer is the Co-Founder and CEO of CoinLedger. David has been deeply involved with the cryptocurrency industry since 2017.
Our Editorial Standards:
Our content is designed to educate the 500,000+ crypto investors who use the CoinLedger platform. Though our articles are for informational purposes only, they are written in accordance with the latest guidelines from tax agencies around the world and reviewed by certified tax professionals before publication. Learn More
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Frequently asked questions
Is MetaMask a cold wallet?
No, MetaMask is a hot wallet. Hot wallets are always connected to the internet; cold wallets are not.
Is MetaMask free?
Yes, MetaMask is a free browser plugin that works with many current browsers. Users should only download the extension from a trusted source.
Are MetaMask wallets safe?
MetaMask is one of the safest online cryptocurrency wallets in the world.
Can MetaMask hold Bitcoin?
No, MetaMask cannot hold native Bitcoin (BTC). However, it can hold wrapped Bitcoin. Wrapped Bitcoin is a special token on the Ethereum blockchain that represents real Bitcoin, allowing it to be used in Ethereum's decentralized apps and services.
What is MetaMask's secret recovery phrase/seed phrase?
Each user has their own unique seed phrase. When you set up your wallet, it will generate a random set of words. Those words are your seed phrase, and you can use them to recover or migrate your wallet. Make sure you store this seed phrase securely. Ideally, you should keep it offline.
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Written by:
Dhiraj Nallapaneni
Crypto Tax Writer
Dhiraj Nallapaneni is a Crypto Tax Writer at CoinLedger. As an Economics degree holder from the University of California Santa Barbara, he’s well versed in topics like cryptocurrency markets and taxation.
This guide breaks down everything you need to know about cryptocurrency taxes, from the high level tax implications to the actual crypto tax forms you need to fill out.