Ethereum users are quite aware of MetaMask capabilities but beginners often wonder how to use MetaMask and send/receive cryptocurrency without hassle. The standard transactions are pretty straightforward and we will walk you through the complete process to make it easier for you!
- MetaMask is a popular Ethereum wallet used to send and receive cryptocurrency.
- You can use MetaMask by Downloading the wallet > Create account > Add funds > Transfer funds to other accounts > Spend Ethereum in DApp.
- MetaMask is completely safe to use and does not run the risk of leaking private keys through the user’s browsers.
…and Much More!
How To Use MetaMask – Complete Guide
Working with MetaMask wallet may be tricky for the newbies but we are hopefully that the following simple guide will help you through the process.
Install MetaMask From Website or App Store
You can install MetaMask either by visiting the official website or getting the application through app store. Although it is up to your convenient, doing through official site is safer. MetaMask apps have faced hacks and glitches in the past.
- Download the wallet by opening web browser first, for example, Chrome, Brave, Firefox, or Edge.
- Wait for the installation to finish.
- Tap on MetaMask icon from the browser’s toolbar.
- Then click on Get Started.
Create Ethereum Wallet
- Open app and click on Create Wallet.
- Feedback box will pop up. You are free to click on agree or disagree here to continue.
- Choose a password for your wallet of minimum 8 characters.
- Save the seed phrase safely as it provides the key to access your wallet to anyone.
- When you have secured the phrase, tap on Confirm and your wallet will be ready for transactions.
If you happen to already have an account but have lost it, you can recover or restore MetaMask wallet to get your funds.
Add Funds To Your Wallet
The next step is to deposit funds to your Cryptocurrency wallet. This should take just a couple of minutes. Here’s how it is done.
- Tap on wallet address and copy it.
- Send the address to ETH from the exchange.
- In case you want to buy ETH, you can do so by using MetaMask’s built-in exchange.
- Wait for the ETH to show up in your account by default. If it does not then tap on Add Token to receive them.
It can take some time for the currency to arrive. The total time depends on the traffic that is currently on the Ethereum portal.
Now that you have purchased cryptocurrency, you can send it to others or share it with your other ETH wallets.
- Simply click on the Send button in the main panel.
- Provide the amount of Ethereum that you wish to transfer.
- Also enter the transaction fee that has to be paid.
- Tap Next to finish the process.
- Click on Confirm once again to initiate the transaction.
When you transfer an amount, the status of the transfer can be checked by visiting Activity page on MetaMask’s wallet.
Spend Ethereum In a DApp
You are also allowed to send Ethereum currency in the DApp. However, you would need to visit DAppRadar and choose an application from there. Below we have presented an example by utilizing Kyber app. Take a look!
- Click on the web browser and open KyberSwap’s official page.
- Enter the amount of crypto that you want to spend here.
- Choose the token you want to exchange the currency with.
- Completely connect your MetaMask wallet to Kyberswap by choosing Connect Wallet.
- Tap Next and then choose Confirm to set up the link.
- Then go back to the main web page and tap on Swap Now.
- Confirm the transaction.
Back-up and Restore Wallet – Step By Step Guide
There are many instances why you would need to restore or reconnect your Ethereum wallet. Typically, users come across this when they shift to a new computer or change the browser.
- Please note that you can not restore MetaMask without the seed phrase.
When you have the seed phrase with you, the recovery process should only take a couple of minutes. Let’s take a look at how it is done.
- Tap on Account Icon and click Settings.
- Then click on Reveal Seed Words.
- Provide the password for your wallet.
- Save the seed phrase somewhere safe and only take it out when you need it for the recovery.
- Open MetaMask wallet.
- Click Import. Then enter the seed phrase here to continue.
- Tap on Restore and once again, you will have full access to your account details.
MetaMask – Key Feature and Benefits
MetaMask is one of the most popular Ethereum wallet that allows you to perform transactions and exchanges as well as store ETH and custom tokens. Some of key features of metamask are mentioned below.
- Exchanging funds with standard Ethereum addresses.
- Storing NFTs.
- Connecting to hardware wallets like Ledger and Trezor.
- Storing custom tokens.
- Storing ETH.
- Paying for DApps games, gambling apps, and decentralized exchanges.
Does MetaMask Use Have a Future?
When it comes to the popularity of dApps and DeFi ecosystem, MetaMask is definitely a useful too that will surely catch more users in the coming days. Besides other countless advantages, MetaMask offers smooth integration so that future dApps remain compatible with the wallet as well.
- Moreover, MetaMask is completely safe to use and does not run the risk of leaking private keys through the user’s browsers.
Although the platform guarantees high levels of security, it still stores sensitive information that may be misused by wrong hands.
The Bottom Line
The use of crypto currency is gradually increasing and so is the user’s understanding of how crypto wallets work. These tools make it easy to store and access money.
MetaMask is one such wallet that provide easy gateway into growing dApp ecosystem. In fact, it has recently crossed a 10 million monthly active user mark further strengthening its credibility.
Frequently Asked Questions
Is it compulsary to have Ethereum in order to use MetaMask?
MetaMask is designed to build a bridge between you and the blockchain. It needs smooth internet connection in order to do so. When connecting with Infura, the wallet makes use of Ethereum node.
Can I transfer money from Binance to MetaMask?
Open your MetaMask wallet and then move to Binance extension. You then need to confirm the transaction and it will appear in your wallet shortly.
Is there a difference between MetaMask and Coinbase?
MetaMask stands out for tokens and digital assets where as Coinbase is known for a variety of blockchain assets in addition to Ethereum such as Bitcoin, Litecoin, and Dogecoin.