What are web wallets (browser extension “Web3” wallets)?

A browser extension wallet lives inside your browser and lets websites and dApps ask you to sign things. That convenience is exactly why people love them – and exactly why attackers love them too. If you’re active in DeFi, NFTs, on-chain games, or anything “connect wallet”-shaped, this is usually the easiest on-ramp.

The upside is speed: connect in seconds, approve transactions quickly, and keep a separate “active” wallet for day-to-day on-chain use. The downside is that extension wallets sit right in the blast radius of modern phishing. The most common failure mode isn’t some Hollywood hack – it’s signing the wrong message, approving the wrong spender, or connecting to a convincing fake site.

MetaMask is the default choice for the EVM world because it works with practically everything and has broad compatibility across dApps, hardware integrations and tooling. The trade-off is that its popularity makes it a prime target for scams and impostor downloads, and it’s easy for newcomers to click through prompts without really understanding what they’re approving.

Rabby is popular with people who want a bit more guardrail. Its standout is clearer transaction previews and built-in risk warnings before you sign, which can genuinely save you from obvious “approve everything forever” mistakes. The main downside is that it’s still a browser wallet at heart – the safest UX in the world can’t fully protect you if you’re on the wrong site, and some dApps still assume MetaMask first and can be fussier with alternatives.

Phantom earned its reputation for being slick and easy, especially in the Solana ecosystem, while also supporting Ethereum and Polygon for a smoother multi-chain life. The downside is the same story: convenience cuts both ways. Cross-chain support adds complexity, and like any popular extension wallet it attracts clones and lookalike links – you need to be disciplined about where you install it from and what you approve.

A good mental model is: extension wallets are for “active use”, not long-term storage. Keep smaller balances there, review every approval like it could cost you money (because sometimes it can), and use a hardware signer for serious funds – ideally with a separate hot wallet for dApp experimentation and a clean, boring wallet for everything you’d hate to lose.