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Metamask 101: How to Use Metamask?

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Designed as an internet browser add-on, the application can send cryptocurrencies with standard transactions and interact with various decentralized applications.

As you know, Metamask is one of the most popular Ethereum wallets. Designed as an internet browser add-on, the application can send cryptocurrencies with standard transactions and interact with various decentralized applications.

Step 1: Install Metamask

Download Metamask from the app's official website, it's seriously important to install it from the official website, because in the past some app stores accidentally allowed fake Metamask apps.

Chrome, Firefox, Brave and Edge support Metamask. Opera users can use Metamask via Chrome extensions. By the way, your Apple and Android devices also offer Metamask support.

After installing Metamask, you can open the application by clicking the Metamask icon in your browser. Then click the "Get Started" button.

2.Create a Wallet

Click on the "Create a Wallet" button to create a new Ethereum wallet.

Once you've done all this, choose a password for your wallet. Remember to keep this password you choose securely. In the meantime, you can get your wallet back even if you lost your password.

Click on the gray area to see the security measure called Seed Phrase. When you see this area, don't forget to record the words specially given to you. Also, anyone who knows these words can access your Ethereum wallet. Other than that, you cannot recover your wallet except for these words.

Once you are sure that you spelled your Seed Phrase phrase correctly, click "Confirm". Now your Metamask wallet is ready for use!

3.Cryptocurrency Purchase and Storage

You can now load money into your wallet. To copy your wallet address, click on your "account name" (1). Then send ETH from an exchange to this address. Or, if you haven't purchased ETH yet, click "Buy" to purchase from Metamask's established exchanges.

After your money has been deposited, you will see your balance at the bottom of your wallet (3). ETH appears as the default cryptocurrency. Click the "And Token" button to add different ERC-20 tokens to the list. Depending on the network traffic Ethereum is experiencing, it may take a few minutes for your ETH to arrive.

4. Crypto Money Transfer

If you own cryptocurrency, you can transfer your money to other users or to your own wallet. To do this, click the "Send" button on the Metamask homepage. Enter the amount of ETH you want to send (1) and the amount of transaction fee you want to pay (2). Paying higher transaction fees will help get your transaction confirmed faster. Metamask can set a fee automatically by default. But utility sites like EthGasStation are a good idea to find the ideal fare.

Click the "Next" button to complete your process. Then to "Confirm". You can check your transaction status from Metamask's "Activity" panel.

5.Crypto Money Transfer to DApps

If you want to spend your ETH on a DApp, you can easily do this by choosing an application from DAppRadar. In this example, we'll use Kyber, a DEX that allows you to easily trade Ethereum for altcoins.

On KyberSwap's website, enter the amount of cryptocurrency you want to buy and select the tokens you want to exchange (1). Then, connect your Metamask wallet to KyberSwap by clicking on "Connect Wallet" (2).

At this step, a Metamask popup will open. To connect to KyberSwap, simply click "Next" and "Confirm".

Our next step will be to return to Kyber's website. After entering the website, click on "Swap Now" (1). Then, click "Confirm" in the pop-up window to perform the operation (2).

After completing these steps, your transfer will take place within a certain period of time. You can follow the status of your transaction on Metamask's "Activity" panel or on Etherscan.

What Can You Do with Metamask?

Now that you know the basics of Metamask, you can use all the features of Ethereum.

Among these features;

  • Transaction between standard Ethereum addresses belonging to individuals and users.
  • Paying for your transactions on DApps such as games, apps, DeFi apps, and decentralized exchanges.
  • Storing ETH and ERC-20 tokens.
  • Storing collection items and NFTs.
  • Connecting to hardware wallets such as Ledger and Trezor.

Posted Using LeoFinance Beta

Source: Muhabbit