If you are familiar with the Crypto space, you must have heard about Ethereum, the world’s second most popular Blockchain. In fact, many would argue that Ethereum has more utilities than Bitcoins. You can create an NFT project, venture into decentralized finance (Defi), or simply trade tokens using the Ethereum Blockchain. This article will guide you on how to use Metamask in simple easy-to-use steps.
However, before you go on to make a trade on Ethereum, you will need a wallet to hold your Ethereum-based tokens. There are several wallet options on the market, but MetaMask is by far the most popular, with over 21 million active users, which is up by 38x since 2020. Simply put, there is no other Non-Custodial Crypto Wallet that is more popular than Metamask.
One of the main reasons for this incredible popularity is how accessible Metamask is. You can download an app on your smartphone or choose to use the web version using any popular browser like chrome, safari, Mozilla, and others. Metamask is also compatible with any Ethereum-based platform allowing you to connect with over 3,700 different decentralized applications and Web 3 services.
So, if you do not want to be left out and want to start using any of Ethereum’s services, here is a complete guide to setting up and using your Metamask wallet.
How to install Metamask
Step 1: Installation
The first step of setting up your Metamask wallet is downloading and installing the appropriate software. Now, depending on your chosen platform, you may need to install different software. The three main options available are:
Web: Compatible with any modern browser, including Google Chrome, Firefox, Brave, Safari, and others.
iOS devices: Compatible with all iPhones with ios 11 or later.
Android: Compatible with all android devices running android 6 Marshmallow.
Download the appropriate software and install it on your device; follow the on-screen instruction to complete the installation process.
Once successfully installed, click on the ‘get started button to continue with the setup process. Here you will find two options, as illustrated in the image below:
Import wallet: Select the “import wallet” if you already have a Metamask account. You can import all your previous data into your new device with just one click.
Create a wallet: For most users who do not already have a Metamask account, select this option to create a new Metamask account.
Depending on your selected option, you will either have to put in your existing password (for importing wallet) or set a new password. Make sure to have multiple copies of your password, as you will need it when trying to access your Metamask account in the future.
Note: We do not recommend you make a digital copy of your password and store it on your PC or cloud storage as it may be susceptible to data breaches. Best if you can store it physically written on a piece of paper.
Step 2: Store your secret recovery phrase
If you are setting up a new Metamask account, you will now be redirected to a new window containing a secret recovery phrase. The phrase should contain 12 random words, and it is significantly important to store them in a safe place as they will be required to gain access to your account if you ever lose your password or try to login in from a new device. Again, you may choose to store it on your computer for convenience, but we recommend you write it on a piece of paper and store it in a safe place.
Please note that your Metamask account is end-to-end encrypted, so if you lose your secret recovery phrase, no one, not even officials from Metamask, can help you gain access to your account.
Step 3: Identifying your public address
Once you have completed steps 1 & 2, you should be able to access your new Metamask account. The next step is to identify your public address so you can share it with others if you wish to receive assets on your Metamask account. You can think of your public address as similar to your bank account number.
Selecting the “Account 1” button can find your specific MetaMask public address. You can also press the square shape button to copy the link address on your clipboard quickly and can paste it anywhere. However, do note that your public address is sensitive, and you should not be sharing it with random strangers or on spammy websites.
Step 4: Fund your account (optional)
Your Metamask account is up and working. You just need to fund your account to get started. You can click on the ‘buy’ button, connect your Metamask account with your debit or credit card, and fund your account.
Once funded, you can enter the recipient’s public address in the space provided and specify the amount, including the gas fee; you can now send cryptocurrency assets from your MetaMask to other wallets.
There you have it; this is the four-step process of setting up your Metamask account, so you can use it in a variety of Ethereum-based applications. So whether you want to indulge in the world of NFTs or get started in DeFi platforms, now is the time. Download Metamask today from this link.
How to backup and restore your wallet from the seed phrase?
We already mentioned the importance of storing your secret recovery phrase as it is the only proof of ownership of your MetaMask account. MetaMask does not store any personal data, including the seed phrase, so it is always a good idea to back up your wallet so that even if you lose access to your device, you can still sign back into your account.
Here is how you can backup your MetaMask Wallet
Step 1: Open your MetaMask wallet and select the menu icon on the top left.
Step 2: Select the Settings option from the menu.
Step 3: Scroll down and select “Security & Privacy”.
Step 4: Now, you will find an option called “protect your wallet”, here you will find an option to backup your MetaMask wallet.
Step 5: Once you have created a successful backup of your wallet, you will again get a secret recovery phrase consisting of 12 words. As mentioned above, store the phrase in a safe and secure location.
Now that you have a backup of your wallet let us show you how to restore your wallet to a new device using your seed phrase.
Note: MetaMask is also susceptible to a storage error that causes local data to get corrupted. In this case, you have to restore MetaMask with the Secret Recovery Phrase.
To recover MetaMask, follow the steps below:
Step 1: If you have MetaMask installed on your device, remove it and reinstall it.
Step 2: Open the MetaMask app and select “Get Started”.
Step 3: On the “Wallet setup” page, you will find an option “Import using Secret Recovery Phrase” click on it.
Step 4: Complete the form with your Secret Recovery Phrase and new password. You can toggle “remember me” on so that the app recognizes you when signing in again from the same device.
If you have entered the seed phrase correctly, your MetaMask wallet should be restored. However, you may still notice that your tokens may still be missing. You have to import your coins again to your MetaMask account. Here is how you can do it.
Wallet setup steps:
Step 1: Connect your wallet with a blockchain network. By default, your account should be connected with “Ethereum Mainnet Network”. For connecting to BNB smart chain, follow this tutorial.
Step 2: Select Networks in the Settings menu, select “Add network” and enter network details.
Step 3: Once the network is configured, you will need to add tokens to your account using the contact address manually. However, by default, any BNB tokens will appear after configuration.
Step 4: Select ADD TOKENS and enter Token’s contract address in the custom token form. You can use bscscan to locate the contract address.
Step 5: Once you have filled up the form, select Add Token, and you should find the Token added to your MetaMask account.
Note: If you have multiple tokens, repeat the process.
MetaMask is a highly popular wallet for its simplicity, availability across various devices and seamless integration between exchange platforms and NFT websites. It is also one of the most secure wallets in the market. But like all other wallets, it too is susceptible to hacks, and there is a high risk of losing all your assets if you forget your 12-word secret seed phrase. So make sure you keep it safe and never, under any circumstance, share it with anyone else.