A Step-by-step Guide on How to Setup MetaMask Wallet
A crypto wallet is a must-have for anyone who wants to trade in NFT. Crypto wallets enable the transaction of all types of cryptocurrencies, allowing users to buy and sell crypto tokens easily. If you want to lend or purchase assets on the decentralized finance protocol, you will require a compatible crypto wallet service to do so. These services allow you to store your digital currency, and some even allow you to store your NFTs.
MetaMask is one of the prominent digital wallet services that crypto enthusiasts widely use. This popular wallet is compatible with all Ethereum-based platforms and is a favorite among new and experienced crypto fans. The MetaMask wallet has over 21 million monthly users – a 38x growth from 2020.
This free wallet service is accessible through a mobile app or web browser extension. Thus, users can easily download the wallet directly to their mobile devices or to their browsers. Moreover, users can access more than three thousand distinct decentralized applications and Web3 services through MetaMask.
The advantages of using MetaMask Wallet
- The MetaMask wallet is insanely well-known as users require one extension to avail multitude of dapps.
- It is available as a mobile app and browser extension.
- The wallet has high-level security features.
- Most decentralized applications are modeled to integrate with MetaMask, making it considerably simple to transfer and receive ETH.
- One does not need to oversee the private keys; instead, remembering the set of phrases is enough. Discover the best crypto wallets in the market.
Is MetaMask Wallet safe?
The MetaMask wallet has numerous security measures, which makes it pretty safe to use. Furthermore, this crypto wallet does not save wallet details on its servers. This means that the user’s data is stored on the internet, which MetaMask cannot access. However, a skilled hacker can locate the encrypted file on your side.
Every cryptocurrency wallet has a public key that anyone can see and use to send crypto. Additionally, it’ll also have a private key. This private key must not be shared with anyone, as it lets the user access the tokens in the wallet.
Usually, the private keys are saved in the browser’s cache by the MetaMask. This enables the user to use their wallet easily. Moreover, one can decrypt the encrypted wallet with a password. Know more on how to secure your NFTs
Phishing and malware attacks, rather than direct hacks, are the most common ways that MetaMask wallets are compromised. Cyber vigilance, such as strong passwords and safe seed phrase storage, may prevent data hacking.
How to set up MetaMask Wallet?
You can set up the MetaMask wallet easily by following the steps given below:
- Download MetaMask on Chrome:
We will demonstrate how to create a MetaMask wallet on Google Chrome. First, ensure that you have a Chrome browser on your PC. If you don’t have one, download it.
Next, download the MetaMask application from the official website. Please do not download it from any other sources. Once the application is downloaded, you can add it as an extension on your Chrome browser by clicking on the “Add to Chrome” tab.
Furthermore, you can also download the app from the Apple Store or the Google Play Store.
- Select the “Get Started” tab:
Once the extension is installed on your browser, you can get started by clicking on the extension, which takes you to the “Welcome to MetaMask” page. Here, you can get started with wallet creation through the “Get Started” button.
- Click the “Create a Wallet” button:
Once you select “Get Started,” the screen will direct you to the “New to MetaMask” page, wherein you’ll see two prompts, such as:
“No, I already have a Secret Recovery Phrase” – If you select this, you’ll be prompted to import your existing wallet. You’ll need your backup phrase for this option.
The other option is –
“Yes, let’s get set up!” – Choosing this option enables you to create a new MetaMask wallet. This is helpful if you are creating the wallet for the first time. Once you choose this option, click on “Create a Wallet” to proceed further.
- Click on the “Agree” button:
After selecting the “Create a Wallet” option, you’ll be redirected to the “Help Us Improve MetaMask” page. Here, you’ll be presented with terms and conditions concerning the website and wallet. You must accept the terms and conditions to proceed further,
MetaMask does not collect its users’ IP addresses or sell data to third parties. You can read the company’s terms and conditions to understand better how the company uses your data. Click on the “I Agree” tab to agree and move to the next step.
- Create a password:
You’ll be landed on the “Create Password” page after you agree to the terms in the previous step. To create a safe password for your account, ensure to enter a strong password and fill in all the fields provided.
- Store the seed phrase safely:
After creating the password, it is time to move on to the “Secret Backup Phrase” webpage. In this step, you will be assigned a unique secret backup phrase which is called a seed phrase.
Your secret seed is a 12-word combination chosen at random that allows you to import your MetaMask wallet. Click on the lock icon to reveal the secret 12 phrases and make a note of this backup phrase.
There are two ways to store your backup phrase: writing it down on paper or saving it in a password manager.
Note: Do not share your backup phrase with anyone.
- Confirm backup phrase:
Next, proceed to the “Confirm your Secret Backup Phrase” page by clicking on the “Next” button. Please note that the screen will showcase the words of your recovery phrase in a jumbled order.
So, to acknowledge your backup phrase, rearrange each word in the phrase in the correct order. You have to click the words in the same order as they appear on your seed phrase. For instance, if the first four words of your seed phrase are “air,” “water,” “land,” and ground, you have to click on “air,” “water,” “land,” and ground, respectively. Once all the words are selected in the proper order, click on “Confirm.”
- Start utilizing your MetaMask:
Once you confirm, you’ll be redirected to the congratulations page. Next, click on the “All Done” button to complete the wallet creation process. After completing the process, you’ll now be permitted to send Ethereum or any other cryptocurrency to your MetaMask wallet. However, to do that, you must first copy your Ethereum address from your MetaMask wallet and add it to the relevant fields on a crypto exchange platform.
How to set up multiple MetaMask wallets?
You can create and manage multiple MetaMask accounts by simply following the steps to create additional accounts. However, each of these accounts is linked to the same Secret Recovery Phrase.
- Click the favicon at the top right of your wallet.
- Click “Create Account.”
- Enter your preferred name.
- Click “Create” to confirm.
You can successfully create your Metamask wallet by following the instructions given in this article. Once done, you can transfer funds to your wallet and start using it to buy NFTs and other crypto assets. Ensure you’ve saved your secret recovery phrases somewhere safe and easily accessible when you need them.
You can only access your MetaMask wallet if you remember your secret recovery phrases. As a result, you must keep your recovery phrases private from others.
Whether you wish to learn about NFT, Blockchain, Web3.0, Metaverse, or other emerging technologies, we have the vital resources that will enlighten and help you make an informed decision.
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