In this article, I will introduce you to what Metamask is and guide you on how to use Metamask in the most detail.
What is Metamask?
Metamask is a cryptocurrency wallet based on the Ethereum (ETH) platform, as well as an add-on plugin that allows you to run Dapps right on your computer browser. Currently, the wallet supports Chrome, FireFox, Opera and Brave browsers as well as mobile apps.
Metamask as a gateway connecting users' wallets with projects such as AMM (decentralized exchange), Lending (lending), Farming (providing liquidity), ...
By manually creating a wallet or entering a Private Key, Seed Phrase into Metamask, the system will retrieve the assets in the wallet and pop up a Metamask window, from which users can participate in DeFi activities .
Metamask Wallet Review
Advantages
- Easy to use, friendly interface.
- Swap integration so there is no need to connect to other AMMs , saving time.
- As a popular wallet extension, almost all new projects are automatically integrated.
- Customizable gas fee , helping users customize the speed of transactions completed.
- Integrate multiple Blockchains .
Defect
- Swap fees are quite high.
- Can't login to multiple wallet addresses, every time you want to log in to another wallet address, you have to log out.
- Do not automatically update asset data, users must integrate it manually. This results in not showing the asset if the user does not know the contract of that asset.
Is Metamask safe?
Metamask is a Non-custodial Wallet, which is merely a place to log in to the wallet. In addition, this is currently one of the most popular crypto wallets, so it is very unlikely that Metamask will cause damage to your assets.
However, there are still cases of loss when logging in to Metamask, possibly due to the user revealing the Private Key , or having malicious code installed in the computer read the Private Key while manipulating the wallet, etc. Be careful in protecting your computer and phone.
A safer option, I suggest you to use Extension Wallet . With the matrix password feature, it is extremely difficult for others to peek at your Private Key, even standing next to it while manipulating it is impossible to guess.
Password Matrix on Coin98 Wallet.
Features of Metamask
Buy Crypto through Debitcard: Users can buy Crypto through Wyre with USD. The Crypto will then be transferred to the wallet on Metamask.
Send & Receive Money: After connecting and creating a wallet on Metamask, users can send and receive Crypto assets on the wallet by copying the wallet address and sending it to others.
Swap Crypto: If you want to buy and sell assets on your wallet, you don't need to connect to AMM, because Metamask has now integrated the Swap feature.
See now detailed instructions on how to Swap on Metamask !
Metamask wallet installation instructions
Installing the Metamask add-on is pretty straightforward. Here I will guide you to install on Chrome browser (computer) and on Appstore (phone). Other browsers, please do the same!
Install & Create Metamask Wallet on PC
Step 1: Install the Add-on
Brothers visit metamask.io .
Select Get chrome extension ⇒ Add to chrome ⇒ Add extension ⇒ Done .
Then the wallet will display a start screen like this, you choose Get Started .
Step 2: Create a Metamask wallet
Here there will be 2 options:
- Import wallet: Restore wallet if you have created a wallet before.
- Create a Wallet: Create a new wallet.
I will choose Create a Wallet to create a wallet.
Next, read the terms below and click I Agree .
Enter the password, then tick the box read and agree to these terms of use ⇒ Click Create .
After that, Metamask will show a video on how to use Phrase and how to secure the wallet. After watching, click Next .
Metamask will give you 12 keywords called Secret Backup Phrase .
Note:
- This Secret Backup Phrase is very important , in case you are logged out and forgot your password, you can use it to recover your wallet, but if you lose the Secret Backup Phrase , it means you will lose your wallet and all assets are in the wallet.
- Therefore, I recommend that you save and secure it carefully, you can write it down for sure! And never give Secret Backup Phrase to anyone!
After making sure to save these 12 words, click Next.
Next, you select each word in turn in the order of the previous 12 words and click Confirm .
That is the completion of the Metamask wallet creation. Click All Done .
Below is the interface of the Metamask wallet.
You can pin your wallet to Google's Taskbar for easy tracking by following the steps below.
Step 3: Login to Metamask wallet
Every time you close your browser, Metamask will automatically log out. This means you need to re-login your Metamask wallet every time you need to use it.
To login to your wallet, you just need to enter the correct Password and click Unlock .
Install & Create a Metamask wallet on your phone
Step 1: Download the app to your device.
Currently, there are many fake applications, so you need to carefully check the information!
You download the Metamask application through the links below:
- iOS: metamask.app.link/skAH3BaF99
- Android: metamask.app.link/bxwkE8oF99
After downloading the wallet, you open the application and right on the opening interface of the wallet, you click " GET STARTED ".
Step 2: Restore or create a wallet.
If you already have a Metamask account, choose to enter Seed Phrase and enter the 12 character key to restore the wallet.
If you do not have an account, choose Create A New Wallet .
To accept the agreements offered by the wallet and continue, click “ I agree ”.
Enter the password for the wallet twice, making sure that the two entries are the same.
Continue to follow the instructions, the application will give you 12 English words, Seed Phrase to make a backup.
As I mentioned above, as soon as you receive 12 from this Seed Phrase , you should save it and keep it safe, I encourage you to write it down on paper and keep it in a safe place!
By clicking on the symbol as shown in the picture, you will get 12 backup words.
And after entering these 12 characters in the correct position, you have created a Metamask account.
Instructions for depositing and withdrawing coins/tokens on Metamask
How to deposit coins into Metamask wallet
To deposit coins, you just need to click on the Account section as shown to copy the wallet address and send coins or tokens to this wallet address.
Note: Coins/Tokens belonging to any Blockchain should be sent to that Blockchain wallet!
How to Add Tokens to Metamask Wallet
After you have successfully deposited a coin/token but the wallet still does not show the balance of that coin/token, you need to perform the following steps:
Step 1: Select Add Token.
Step 2: Enter the token you just loaded and select Next , here I load USDT into the ERC20 wallet on the Ethereum network!
Step 3: Click Add Token and you're done, now your Metamask wallet shows the balance of USDT you just loaded!
How to transfer coins from Metamask wallet to exchange
Step 1: Select the token you want to transfer and click the Send button .
Step 2: Enter the wallet address on the exchange you want to transfer the token to.
Step 3: Enter the amount of tokens you want to transfer and click “ Next ”.
Step 4: Adjust the appropriate fee and then confirm the transaction to send the token.
Note: The higher the fee, the faster the transaction.
So you have done sending tokens from Metamask wallet!
Metamask Wallet Recovery Instructions
When you accidentally delete the wallet, delete the app, delete the browser, or forget the password to Unlock the wallet, you can now use the Private Key (or Secret Recover Phrase) to restore the Metamask wallet by following these steps:
Step 1: Select “ import using Secret Recover Phrase ”.
Step 2: Enter 12 words in the Secret Recover Phrase you saved at the beginning. Then enter the new password twice to confirm ⇒ Click Restore .
So you can restore and log in to the old wallet with the newly created password.
Instructions to add MyEtherWallet wallet to Metamask
The purpose of this is to help you easily transfer money, manage the balance of your MyEtherWallet (MEW) wallet without having to log in directly.
To add MEW wallet to Metamask we do the following:
Step 1: Select the Account icon ⇒ Select Import Account .
Step 2: There will be two options: Private Key and JSON File .
Here, I choose Private Key and enter the Private Key of MEW wallet in ⇒ Click Import .
Epilogue
So Coin98 introduced you to what Metamask wallet is and how to install and use the wallet in the most detailed and easy to understand way! If you have any questions or problems during use, please comment at the end of the article, Coin98 will immediately support you!
