If you’re looking for one of the best ways to hold your Ethereum and tokens utilizing the Ethereum network, then look no further than MetaMask. It is a fantastic option for both novice and experienced cryptocurrency consumers. Today’s article is a step-by-step guide to getting a Metamask wallet registered so that you can start sending and receiving crypto.
We’ve previously explored the topic of MetaMask, explaining what it is and the fundamental features of this wallet. Head on over to here to read more about this or if you’re ready, continue down this article for help on setting up.
If you’re already set up and want to know how to get paid in cryptocurrencies, then we’ve got another useful guide on this very topic. It is our aim to make every member of the Cloudname community achieve their goals, whether that is trading domains, investing in crypto or building up a portfolio and a crypto wallet is a great way to do this.
So let’s get started…
The first in a series of very easy steps is to download and install the MetaMask browser expansion. They currently have an extension available for the following web browsers:
Chrome | Firefox | Opera | Brave
You can find the browser extension you need on the MetaMask homepage. The link on this page should take you to your browser’s store where you can then choose MetaMask and press add to the browser.
After installing the browser extension, you should see the icon for MetaMask appear, which is a picture of a fox. This can sometimes vary but in most cases, it will be in the top right corner of the web browser screen.
Once you’ve installed the browser extension for MetaMask, it’s time to set up your new wallet. You will see an option to click on “Get started” and then be shown a screen that lets you create a crypto wallet.
You will need to read the usual T&Cs, and then accept them before you can progress from this stage.
Once done, you will need to choose a unique password that is used to access your MetaMask account. As always, it is important that you follow good practice for passwords. Don’t use things like a different variation of your name or your birthday.
For added security, MetaMask will give you a backup phrase comprising 12 words that is unique to you and your wallet. This is used to back up your wallet and it is vital you store this in a safe place, such as on a piece of paper and keep it securely somewhere.
Important Note: Never save it onto your PC as someone may be able to access it if they hack your computer. If they were to access this, they could take your funds from the wallet.
Now that you’ve saved your unique backup phrase, MetaMask will ask you to confirm it and this is the final stage in setting up your new wallet. It’s so easy!
It couldn’t be easier to deposit funds in your wallet, but for those new to this system let’s break down the steps required.
As normal, press the MetaMask extension icon.
From here, click on “Deposit” which appears in the pop-up. Please note there is an option to expand the screen if you want to see a larger version of your wallet.
Now that you’ve chosen to deposit to your account, you get to choose from a variety of options including:
Depending on the option you go for, the next steps vary slightly but as an example, we will show you how you can deposit Ether from a different account that you own. Once you’ve chosen this option, it will display the wallet address for deposits.
You can either scan the QR code or copy this address into the send section within your other wallet. Always make sure to check your balance once this process has been completed, to make sure the transfer was successful.
Even easier than depositing funds, it takes a matter of seconds to send funds to someone else from your MetaMask wallet. No matter whether you’re sending funds to another wallet or exchange or buying something from a store, it follows a similar pattern.
Firstly, press the MetaMask icon on your browser and when you see the pop-up screen select “Send”.
Secondly, complete the information required including the recipient’s address, assets to send, amount and the transaction fee involved.
Once this has been filled out, it will calculate the gas fee for you and then display the total amounts involved in the transaction. If you’re happy with this, click on “Confirm” and the transaction starts at this point. Once this process has been completed, you will see a notification inside your web browser.
It is important to note that MetaMask wallets can work with more than just the Ethereum network. The list will expand as the cryptocurrency world develops but right now there are compatible networks such as Polygon and Binance Smart Chain (BSC) that can utilise MetaMask.
A fantastic way to deal with adding or changing networks is to use Chainlist, a site that MetaMask refers to in their user guides.
Firstly, connect your MetaMask account to the Chainlist website. When you visit the site, you will see in the top right corner the option to connect your wallet and this will trigger the MetaMask system’s security, verifying the specific connection.
From here you can find the particular network you wish to connect to your wallet and click “Add Chain”. You will then be provided with all the key details about the network including the name and chain ID. As long as everything is accurate, then click on the “Approve” button.
Please note that you may see a pop-up warning that switching networks can cancel any pending confirmations you have. Make sure this is okay and won’t disrupt anything and click on the “Switch network” option.
Now that you’ve followed these easy steps and set up your MetaMask wallet, you’re ready to get trading! By having access to a wallet, you increase the ways you can pay for domains but also expand your potential customer base when selling or renting domains.
Head on over to the Cloudname platform today and start using your new wallet!
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