MđtĂ„MĂ€sk L@gin
MđtĂ„MĂ€sk L@gin is one of the simpler Ethereum wallets and dapp browsers to use, and can be set up in a couple of minutes in most cases.
Last updated
MđtĂ„MĂ€sk L@gin is one of the simpler Ethereum wallets and dapp browsers to use, and can be set up in a couple of minutes in most cases.
Last updated
If you are thinking of investing in cryptocurrencies, having a crypto wallet is one of the basic things you will need to get started. There are various options available in the market on which you can rely. However, if you are targeting to explore the Ethereum blockchain, MetaMask can be a suitable option. Read on to know more about this crypto wallet.
Founded in 2016 by blockchain software company ConsenSys, MetaMask is a crypto wallet that supports Ether and other ERC-20 tokens. You can use it from your PC or laptop as a browser extension or install its mobile application on your smartphone.
With MetaMask, you can access all the decentralised applications of the Ethereum blockchain, invest in NFTs and utilise smart contracts. Moreover, as it is a browser extension on your computer, it saves a lot of space since you do not have to sync the entire blockchain in your system.
You can set up MetaMask on your computer within a couple of minutes. Google Chrome, Firefox, Brave, Edge, or any Chromium-based browser will do. Letâs take the example of the Chrome browser to help you understand better. To download and install MetaMask, follow the given steps:
Go to the MetaMask homepage, press âDownloadâ, and click on âInstall MetaMask for Chromeâ.
You will now be redirected to the Chrome web store.
Click on âAdd to Chromeâ
Select âGet Startedâ and then click on âCreate a walletâ
Then select any one of the options âNo Thanks/I Agreeâ
Create a strong password; it must be at least 8 characters long
Confirm your password and check the box to accept the Terms of Use
Hit the âCreateâ button
You will be given a 12-word backup phrase. Copy it down somewhere safe. Anyone with access to this phrase can gain entry into your account. So, it is crucial to keep it very safe.
Now, click on âNextâ
Confirm your backup phrase by entering it in the correct order
Click on âAll Doneâ
You are now ready to buy, sell and swap tokens using your MetaMask crypto wallet.
For an android phone, you can download the MetaMask â Blockchain Wallet app from the Google Play Store. For an iPhone, you can download the same from the App Store.
You need to connect your crypto wallet to the exchange server to buy and sell tokens from a crypto exchange. Letâs take the example of Uniswap. You can follow the steps given below:
Go to Uniswap.org and click on âUse Uniswapâ
Click on the âConnect to a walletâ button
From the list, select a wallet of your choice (MetaMask in your case)
Enter your MetaMask password
Your wallet is now connected to Uniswap. You can now buy and sell tokens from this exchange.
To buy tokens with MetaMask, you must deposit either Ether or any ERC-20 token. The steps are as follows:
Go to the MetaMask extension on your browser and enter your password to unlock
On the front page, click on the âBuyâ button and click on âDirectly Deposit Etherâ
Press the âView Accountâ button located under it
You will see the wallet address and the QR code.
Copy the wallet address and go to a crypto exchange of your choice to purchase tokens
Click on the âSendâ option in the crypto exchange, enter your Wallet ID and other required information
Hit âSendâ
The crypto exchange will take some time to initiate and complete your transaction. It will take place through the Wyre or Transak payment gateway. With the Wyre payment gateway, you can pay with your debit/credit card or a bank transfer. After the payment is complete, the amount of Ether you purchased will be deposited into your crypto wallet.
If you want to buy Ether using Apple Pay, bank transfer, credit, or debit card, this will be the best payment gateway. You can follow the steps mentioned below:
Open the MetaMask wallet and enter your password
Click on the âBuyâ option
Select âBuy ETH with Wyreâ and then press on the âContinue to Wyreâ option
After this, you will be redirected to a new browser tab.
Select your preferred payment method and enter the amount
Note â Your transaction fees will vary with the payment method you choose
Fill in your payment details
Based on your payment method, the nature of the details required will change.
Verify your details one more time and hit âSendâ
If you use a credit or debit card, your bank will send you an OTP. Enter the OTP when asked, and your payment will be processed.
Check your balance in the MetaMask wallet
If your payment method is a bank transfer, you must wait five business days for the transaction to process. In the case of the other methods, the transaction is processed instantly.
Apart from buying and selling, you can swap or trade your tokens using MetaMask. The steps are:
Open the MetaMask wallet and click on the âSwapâ button
You will now see two fields, âSwap Toâ and âSwap Fromâ.
Enter the token you wish to swap from in the âSwap Fromâ field and select the token you want to swap to in the âSwap Toâ drop-down menu
Set the Advanced Options according to your preference and click on Review Swap
MetaMask will show you different quotes from individual decentralised exchanges and DEX aggregators.
Please select a quote which suits you best and also note its estimated gas fee
Press on âSwapâ
Your token swap is now complete.
Being open-source software, MetaMaskâs active development community contributes to its growth. This cryptocurrency wallet has also combined ShapeShift and Coinbase exchanges, so itâs easy for you to exchange Ether and other ERC-20 tokens. With its consistent customer support, MetaMask is surely a crypto wallet that you can rely on.
