MetaMask is a free and secure digital wallet, trusted by over 21 million users throughout the world, which allows you to interact with a wide range of blockchain applications.
Apart from being a crypto wallet, MetaMask also helps to connect to the Ethereum blockchain. You can access it via a browser extension or use it as an app on your smartphone (Both IOS & Android). Hence, managing your digital assets is relatively easier. For instance, you can interact with a wide range of applications i.e. Uniswap, AxisInfinity, OpenSea, AAVE, Rarible, and GITCOIN.
If you are new to the crypto world and don’t know what a MetaMask wallet is, we have got you covered. But before jumping to MetaMask, let’s see what a crypto wallet or digital wallet is.
What is a Crypto Wallet?
Crypto Wallet (aka. digital wallet or e-wallet) is a convenient and secure way to store public/private keys for crypto transactions. It actually lets you send, receive, and spend cryptocurrencies i.e. Bitcoin.
In addition to this general functionality of keys storage, a digital wallet usually provides the functionality of encrypting and signing information.
With crypto wallets you can connect to blockchain based websites and apps, in other words you can login in websites and apps with your crypto wallet. Your NFTs are also stored in your wallet.
Cryptocurrency wallets come in various forms, from hardware wallets such as Ledger Nano S or SecureX V20 to mobile apps such as Binance or Coinbase, WalletConnect etc. This way they let their users to use cryptocurrency as convenient as shopping with a credit card online.
Now, let’s come back to the MetaMask and check out the most prominent benefits of MetaMask wallet first and then we will discuss the procedure of creating a new one.
So, let’s get started!
Benefits of Using MetaMask Wallet
There are numerous benefits of using a MetaMask wallet. It can serve you in three different ways including:
- Storage
- dApp access and interaction
- Token Swaps
Crypto Storage
MetaMask serves as a storage place for tokens created on the Ethereum blockchain. Besides, creating and navigating among a variety of digital wallets is easy with MetaMask.
It uses high-end encryption technology that allows users to secure their wallet passwords and private keys. So, MetaMask is a safe & secure option to consider when you are looking for a digital/crypto wallet.
To provide a second layer of protection, new users are offered a set of seed/backup phrases. This type of security feature helps to retrieve an account.
Hassle-Free Interaction with dApps
MetaMask makes it possible for the users to access various Ethereum-based dApps, crypto lending products, NFTs, and games (Ethereum-powered).
Apart from this, the crypto wallet offered by MetaMask is easy to use and can be accessed remotely (without any integrations). Hence, this platform gives you an opportunity to enter the DeFi world with confidence.
Token Swaps
When it comes to token swapping, you can make this happen by simply connecting your MetaMask wallet to Uniswap. This strategy also works when you want to buy tokens with Ethereum.
With peer-to-peer (P2P) trading, MetaMask encourages token trades directly from the digital wallet. And it is a handy feature when you are looking for ways to avoid using a decentralized exchange (DEX).
Further, MetaMask doesn’t require interacting with a custodial platform or a mediator. This permits users to complete their transactions instantly.
When you transact crypto, you will need to pay gas fees. If you are unsure about what gas fees are, read this article: What are gas fees in crypto?
Creating a MetaMask Wallet
To create a MetaMask Wallet, follow the steps mentioned below:
Step 1: Install MetaMask on your Browser
To start with, you need to install the MetaMask extension on your browser. Without performing this step, you won’t be able to create a MetaMask wallet.
Usually, MetaMask is available in all popular browsers like Chrome, Opera, and Firefox. Hence, finding this extension won’t be difficult anyway.
- Visit MetaMask Website Download page. Be aware of phishing links. The official website of MetaMask is metamask.io
- Choose your appropriate browser or device and Install it.
- Here we are using chrome browser, you will find the "Install MetaMask for Chrome" button, just click it to start the installation procedure
- Next, click "Add to Chrome"
- Finally, hit the "Add Extension"
And that’s it!
Once done, you will see the following window on your Chrome browser.
Normally, you follow a similar process when installing any other extension on Chrome. Now you have installed MetaMask, let’s start creating a MetaMask Wallet.
Step 2: Account/Wallet Creation
A new tab will open automatically and you will see the wallet creation page. If no, Click on the MetaMask icon (located in the upper right corner under extension icon). It will open MetaMask.
Hit the "Get Started" button.
Then MetaMask will ask you if you are new to MetaMask? Hit "Create a Wallet" button. However, if you already own a digital wallet, you don’t need to create a new one. Meaning thereby, you can import your existing wallet to MetaMask.
By doing so, you will be sent to a new page that is related to the creation of a password. Make sure to create a strong password. The safety of your account relies on its password.
The password should contain 8 characters. After creating this password, you need to confirm the newly created password by retyping it in the "Confirm Password" section.
Once done, just click the "Create" button. In the end, you need to agree to the "Terms of Use" by clicking the "Accept".
Step 3: Backup Phrase Storage
Once you have a password to your MetaMask account, you can now go ahead with the "Secret Backup Phrase" section.
This page shows how to ensure the safety of the wallet. There is a two-minute video, which is highly recommended to watch if you are creating a MetaMask wallet for the first time.
It guides you about the "Secret Recovery Phrase" and suggests some ways to protect it. After that, click "Next" to continue to the next phase of the wallet creation process.
Here, you will be given a secret backup phrase or seed phrase. These words are hidden, and you need to reveal them by clicking on the lock icon. Now carefully write down the backup phrase and store it at a safe location. You can ensure the safety of your backup phrase in a variety of ways. For instance, using a password manager is also a good option.
Besides, you should also think about doing it in an old school way i.e. writing it down on paper. Make sure not to disclose this phrase to any other person.
Step 4: Confirm your Backup Phrase
After securing the backup phrase, the next step relates to the confirmation of this phrase. So, you need to hit the "Next" button to proceed.
A new page showing the "Confirm your Secret Backup Phrase" title will appear. During this confirmation process, you will be provided with the jumbled version of your backup phrase.
You need to choose these words in the correct order and create your backup phrase. Once you have placed all the words in the correct order, just click "Confirm". With this, you are one step away from MetaMask account creation.
Step 5: Start Using MetaMask Wallet
After confirmation of the backup or seed phrase, you will be greeted with a congratulations page. This is an indication that you have successfully created a MetaMask wallet. To complete the process, click the "All Done" button.
By opening the "Settings" menu, you can make certain changes to the digital wallet for a better user experience. Hence, it is highly recommended to configure settings before using the MetaMask Wallet.
It is a great way to familiarize yourself with the provided options. You can reach the settings page by clicking the account photo (located in the top right corner of the page).
The information provided here includes account name, notification settings, contact list, etc. After going through the settings menu, you are all set to start using your MetaMask account.
Final Thoughts
The above-mentioned MetaMask wallet creation guide is simple and easy to follow. A MetaMask wallet makes it possible for you to transfer funds (Ethereum) and trade tokens.
It is a free crypto wallet, allowing you to store or swap NFT tokens and interact with numerous decentralized applications (dApps). Besides, it is a trusted and famous crypto application, making it easy for you to manage your digital assets.
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