Protecting Your Crypto

More and more people are embracing the final frontier of financial freedom that is crypto and Web3. But when digital assets are online for the taking, Web3 security is the paramount concern. Different crypto wallets like Metamask, Zerion and Trust Wallet implement Web3 security tools within their interfaces. But none of them cover all the bases. That's why we created CryptoGuard. Since Metamask is by far the most prevalent crypto wallet today, let's look at the two different approaches of Metamask and CryptoGuard when it comes to protecting your cryptocurrency. 

MetaMask: Transaction Sims for Security Wins 

Metamask partners with Blockaid to simulate transactions and alert users to malicious dApps without compromising transaction privacy. MetaMask security alerts are enabled in Metamask wallets by default. Their software is open source, so their community has developed many different security snaps. Each provides limited security features in comparison to CryptoGuard, however. Metamask's security features support many different blockchains including Ethereum, Linea, BNB Chain, Polygon, Arbitrum, Optimism and Avalanche.

CryptoGuard: Comprehensive Threat Defense

ChainGPT devs designed the CryptoGuard AI Web3 security browser plugin to defend user privacy and establish optimal Web3 security. It uses advanced AI algorithms and insights to protect against scams, malware, and unauthorized tracking. Partnerships with CUBE3.AI, GoPlusSecurity, Etherscan and BSCscan allow CryptoGuard to provide a holistic suite of Web3 security tools. It is open-source. Its features include the following: 

  • Analyze Anything: Users can analyze any wallet address, transaction hash, website, or token address to determine potential risks. This feature allows access to detailed information about transactions, including alerts and risk assessments.

  • My Wallet: This offers a security overview of inputted wallets. Users can look at transactions, NFTs, and tokens along with possible risks associated with each one. This is not limited to the wallet that's connected to CryptoGuard. There is an input in the UI that allows users to check any wallet address.

  • Live Tracker: Real-time transaction analysis alerts users to suspected fraud, giving them time to assess validity of a transaction before confirming it.

  • URL Analysis: Users enter a URL to scan for potential threats. CryptoGuard will search a repository of known bad sites and their scores as graded by the IP Quality Score API.

What's The Difference? A Breakdown

  • CryptoGuard has more Web3 security tools. With CryptoGuard, you can analyze transaction hashes, wallet addresses, and URLs. And it has a Live Tracker feature that analyzes whatever your wallet is about to connect with in real-time. It's limited to only a few blockchains in comparison to Metamask. 

  • MetaMask focuses on only one aspect of Web3 security. It utilizes transaction simulation to detect suspicious dApps. 

CryptoGuard X Metamask: Scaling AI Security

Now that you understand the main differences between CryptoGuard and MetaMask, it's obvious how using them together is remarkably more effective than just depending on Metamask alone to keep you safe from illicit crypto transactions. 

CryptoGuard and Metamask complement each other to provide a comprehensive toolkit for Web3 security. MetaMask warns crypto holders about malicious dApps before they connect by simulating transactions. But CryptoGuard goes much further. With CryptoGuard, you can analyze URLs, smart contracts and other dApps by directly entering them into the CryptoGuard interface, as well as in real-time.  

For the more tech-oriented who know what they are looking at (or the less-tech oriented who want to learn), CryptoGuard gives more detailed insight into potential risks associated with transactions, wallet addresses, tokens, and NFTs. But anyone of any level can enjoy enhanced security without a steep learning curve when CryptoGuard and Metamask security tools are combined. 

Both CryptoGuard and MetaMask have active developer communities. They both continuously update their features in response to the latest security threats. And they're both open source, which allows for transparency and creativity when it comes to implementing their specific benefits. 

Hypothetical Example: A Crypto Coin Scam 

A scam project launches a fake token sale on a decentralized exchange. A user known to the scammers gets an email that looks exactly as if it's from that DEX. The email hypes up the user, pronouncing his eligibility for a huge airdrop. The email contains a link. The user hasn't read the ChainGPT guide on how to avoid crypto scams yet. So, he clicks the link and is taken to a well-designed website that seems as if it's part of the DEX. The user then approves a connection request and his wallet is summarily drained.

Learn what to do when your wallet gets drained

CryptoGuard x MetaMask: Covering All Bases

If CryptoGuard had been installed, its URL Analysis feature would have scanned the website URL and compared it against a repository of known malicious sites. If the website was flagged as suspicious or it wasn't found in the repository, the user would be alerted in real-time. 

If the user had MetaMask as their wallet, Metamask would have simulated the transaction before the user approved it. The user would have then been alerted and given that one more step to take, which would give him time to consider whether or not approving the transaction was the prudent thing to do. 

This knockout combo of real-time phishing detection and secure transaction approvals can help crypto users avoid all sorts of crypto scams on a whole new level. 

In Conclusion

CryptoGuard and Metamask can work together like a tag team of scam-busting software to provide a formidable approach to Web3 security. While Metamask focuses on simulating transactions to detect suspicious dApps, CryptoGuard gives crypto users more tools in their security arsenal to analyze URLs, smart contracts and other dApps directly. Integrating both CryptoGuard and Metamask in your fight to keep your crypto safe is a great way to batten down the hatches against those who would pirate your hard-earned gains. 

CryptoGuard is part of the suite of solutions provided by ChainGPT, a leader in AI-powered crypto infrastructure. Other solutions offered by ChainGPT include automated smart contract generation and auditing, AI news aggregation, AI Trading Assistants, Cross-Chain Swaps, and AI NFT Generators. 

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