MetaMask is a free cryptocurrency wallet program connected to all Ethereum platforms.
What Is MetaMask?
MetaMask can be described as the largest and most well-known Ethereum-compatible cryptocurrency wallet currently used. It is accessible via an extension for your browser that is secure and compatible with Chrome, Firefox, Brave as well as Edge browsers.
Although MetaMask is often used to make transactions using Ethereum, it is also used for transactions on the Ethereum network; it’s fully compatible with other blockchains, including Avalanche, Polygon, Binance Smart Chain, Fantom, Harmony, and many others.
For instance, if you would like to store NFT items like NFT wearables or other things to be used as avatars on Decentraland, the items will be available via your MetaMask wallet. But, you’ll need to connect your wallet to the app to use the items.
The setup process is quite simple. The following step-by-step guide will assist you in creating your MetaMask wallet for the Chrome browser within five minutes.
Although the interface may appear somewhat different on different browsers, this will provide you with a clear picture of how you’ll have to accomplish it.
Popularity and compatibility are the majority of the dapps and websites you’ll need to install to access Web3.
- It is based on open-source technology and is constantly updated by the community, meaning the company does not own your data.
- Intuitive User Interface and User Experience.
- A lot of reviews and tutorials on the internet.
As an online wallet, it is more susceptible to hackers. If your device is damaged, there’s the possibility that hackers will be able to steal your money.
This differs from cold wallets like Ledger and others, which are limited in their options; however, they are tough to hack as they’re not online.
Although MetaMask does not keep track of your personal information, the companies of the browser that the wallet is employed can monitor how often users have accessed their wallet. This is something some users do not like. Metamask does not support Ethereum and Erc-20-based tokens.
How to set up MetaMask (Desktop):
Step 1: Download the MetaMask App
To make an account, you have to install the extension first. All browsers are compatible with MetaMask (MM), such as Chrome, Brave, and Firefox.
I will show you how to set up your wallet on Google Chrome. These steps can be duplicated across every other browser.
In this business, fraudulent apps can appear that they are legitimate. I suggest going directly onto MetaMask’s website. MetaMask site to stay clear of any fake versions.
After that, you will be able to proceed to the Google website. The MetaMask site will take you to the location you’re required to go.
When you’ve reached the website, click”Add” and then click the “Add the site to Chrome” option.
You’ll then hit “add extensions.”
Step 2: Create a MetaMask Account
Once you’ve had the extension in your browser, you’re now able to visit MetaMask and register an account.
Select the icon for extension within the Chrome browser. The extension icon can be found in the upper right-hand corner of Chrome and is likely to be in the same position in other browsers.
After MetaMask is opened, you are prompted to select either “Create an account” or “Import your wallet.” If setting the foundation of the MetaMask account, go for the first. If you’ve already got a wallet, you can select “Import the wallet,” You’ll be required to input the seed phrase of 12 words to connect your account. We’ll discuss the seed phrase below.
Step 3: Remember Your Seed Phrase
- If MetaMask exposes your hidden word, DO NOT FORGET to record them.
- This section is highlighted so that you don’t miss a step during the entire section and then lose track of your money forever.
- Hit on the “Reveal Secret Words” button.
- You will find a twelve-word seed phrase.
- Do not store them online because it could be a security danger. Instead, note them down in a notebook or something you can’t lose. Please keep it in a safe place.
You’ll now need to confirm the secret phrase. If you forget it, nobody will be able to assist you in recovering your secret word; therefore, it’s essential to document it properly. Examine the phrase using the phrase that was previously generated in the correct order.
MetaMask Wallet Security Tips
Make sure your seed phrase is written on paper and has multiple copies. (If you should fail to locate one, you’ll have another). You can break the seed phrase in half and keep it in two distinct places for extra security.
This way, if one of the locations is compromised, nobody can gain access to your wallet. Never keep your seed phrase on a device where hackers could access it, and don’t ever take a screenshot or photos of your seed word.
Please don’t click on links without making sure they are genuine. If you’re communicating with other users on various forums and servers, be aware that there are a lot of fraudsters. MetaMask, along with other wallets, does not ask for your private keys, therefore, do not give them to anyone.
For a comprehensive guide to the most secure security methods for your wallet, take a look at this tutorial on everything you should be aware of about NFT and the security of your wallet.
How to set up MetaMask on mobile:
Creating your wallet for mobile devices is similar to the desktop approach. Instead of having to download an extension to your browser, you must visit either the App Store or the Google Play store and download MetaMask.
Another crucial part of the procedure is capturing the seed phrase to ensure you can access your account from different devices.
What Are Other Crypto Wallets Available?
While MetaMask is a great choice, we’d like to let you know about alternative wallet options. We mentioned earlier that wallets are divided into hot wallets, which are on the internet, and cold wallets, which are physically based.
Cold wallets are great as they offer more security; however, they are restricted in their choices. Hot wallets are excellent for novices because they are similar to regular applications and are easy to access.
The best examples of both types are:
- Coinbase Wallet:
- Ledger Nano S: