Nick Jade

How to Use MetaMask?

MetaMask is a free, self-custodial software crypto wallet initially designed for the Ethereum blockchain. You can use it to interact with various cryptocurrencies and dapps (decentralized applications). In March 2022, the wallet reached over 30 million active users.

MetaMask was developed by ConsenSys Inc. in 2016 and first published as a browser extension. As a result, anyone with a Chrome or Firefox browser could use it to access the Ethereum blockchain. The company later expanded browser support to Brave and Edge.

Four years later, in 2020, ConsenSys released the first mobile app version of MetaMask, making it available to Android and iOS users as well. Meanwhile, the company also expanded its support to other blockchains, including Polygon, Optimism, and Avalanche.

Now, let’s take a closer look at MetaMask’s use cases and learn how to set it up.

What Is MetaMask Used For?

If you’re wondering what you can do with MetaMask, the following list is a good place to start.

  • Send and receive cryptocurrencies
  • Send and receive non-fungible tokens (NFTs)
  • Gain access to decentralized applications (dapps)
  • Gain access to decentralized exchanges (DEXs)
  • Store and manage private keys
  • And much more

Send and Receive Cryptocurrencies

Exchanging cryptocurrencies is the number one use case of any crypto wallet. You can use it to send or receive payments and swap different tokens for one another.

Send and receive NFTs

Since NFTs took the world by storm in 2021, it’s no wonder this feature is in high demand.

MetaMask is one of the best wallets that come with full NFT support. That means you can send, receive, and manage your NFT assets in one place.

Unfortunately, not all wallets come with full NFT support. So, in some cases, you have to rely on third-party apps to make them work with NFTs.

Gain access to dapps

You can also use Metamask to connect to decentralized applications. To interact with these applications, you would use your browser just like with a regular website. The only requirement is that you first connect to them with a dapp-capable wallet.

Note: Be careful when connecting to dapps and carefully decide which permissions you will give them. Today, there are various dapp scams that can empty your wallet as soon as you connect to them.

Gain access to DEXs

With MetaMask, you have access to a wide variety of different decentralized exchanges. These include PancakeSwap, Uniswap, Totle Swap, and more.

Decentralized exchanges can differ significantly in their features and services. So this gives more power to the user, allowing you to decide which exchange you want to use for which purpose. 

Store and manage private keys

Like all crypto wallets, MetaMask will allow you to store and manage your private keys.

Now that you know what you can use MetaMask for, it’s time to learn how to create and start using a wallet.

Setting up a MetaMask Wallet

Ready to set up your first MetaMask wallet in the browser? That’s easy. Just follow these four simple steps we outlined below.

1. Download the MetaMask extension

Visit the download page on the official MetaMask website by clicking here. Then click on the “Install MetaMask for Chrome” button.

Once you’re in the Chrome web store, click the “Add to Chrome” button on the right.

Note: a browser notification will then pop up asking you to confirm. Click the “Add Extension” button.

Now that the extension is installed, it will automatically open in a new window. Click the “Get Started” button.

2. Create a wallet

At this point, it will ask you if you have an existing wallet. Since we wrote this guide for new wallets, let’s go with the “Create a Wallet” button.

Note: MetaMask will now ask you to provide optional access to anonymized statistics. That is something you need to decide for yourself.

3. Set the password

Now, it’s time to create a password. Once you enter it twice, you will need to read and accept the terms of use. When you’re ready, click the “Create” button to finish.

4. Confirm and back up the secret recovery phrase

MetaMask will now generate and provide a twelve-word passphrase for you. So click the lock with the blurred background to reveal it, and then store it somewhere secure. You will need it for the next step.

Congratulations, you’ve reached the last step! Enter your secret recovery phrase by clicking on the corresponding word blocks in proper order. Click the “Confirm” button.

Here are some tips on how to best take care of your passphrase.

  • Don’t share it with anyone.
  • Store it in several places in case you lose access to one of them.
  • If you need to create a new backup, just go to Settings > Security.
  • Avoid phishing scams (MetaMask won’t ask for your phrase via email or social media).

That’s it. You’ve just created your first MetaMask wallet.

But how do you actually use it? You will learn this in the next segment.

How to Use MetaMask?

MetaMask has a very simple and easy to use interface. In most cases, you are just clicks away from making transactions, connecting to dapps, an acquiring NFTs.

Using MetaMask to transfer coins and tokens

Want to send some Ethereum to another wallet? It’s easy. Just follow the steps below.

  1. Ensure you’re logged in to the proper account.
  2. Tap the “Send” button in the center.
  3. Enter the recipient’s public address or pick an address from your address book.
  4. Enter the total amount you wish to send.
  5. Tap “Next”.
  6. The approximate gas fees will now show up. Adjust them as needed.
  7. Tap “Confirm” to execute the transaction.
  8. You will now land on the homepage and see the transaction in the Activity tab.

Using MetaMask to connect to dapps

The dapp’s website will usually show a button labeled “Connect wallet.” By clicking it, you will connect your wallet to the dapp.

But sometimes a dapp won’t offer this feature automatically. So what should we do then?

There’s a way to manually connect your wallet to the dapp. Just follow our guide.

  1. Keep the dapp’s website open.
  2. Open the MetaMask extension.
  3. Go to the three-dot menu and click on “Connected sites.”
  4. Click on “Manually connect to current site.”
  5. Select your wallet and click on “Next”.
  6. Review the displayed information and click “Confirm.”

Using MetaMask to add NFTs

If you’d like to add an NFT to Metamask, just follow the steps below.

  1. First, go to the “Assets” tab and click the “Import tokens” button
  2. Now go to the “Custom token” tab to provide the contract address for your NFT.
  3. The Symbol field will likely populate automatically. If it doesn’t, you can type in anything.
  4. Set the decimal to 0.
  5. Finally, click the “Add Custom Token” button.

Using MetaMask to view NFTs

To view your NFT collection with MetaMask, you will need to use the mobile app. Unfortunately, the function wasn’t yet added to the browser extensions.

The mobile app has a special NFT tab for this purpose. But you might need to enable it if it’s not showing up. You can find the option in Hamburger icon > Settings > Security & Privacy > Advanced.

If MetaMask’s autodetect option doesn’t show your NFT, you can add it manually. We will list the steps below.

  1. Retrieve and copy the NFT address from your marketplace.
  2. Open the NFT tab on your MetaMask phone app.
  3. Tap on “Import NFTs”.
  4. Paste the NFT address.
  5. Retrieve and copy the NFT ID.
  6. Paste the NFT ID.
  7. Tap the “Add” button.

And voila, you’ve added your NFT manually. You can now view it alongside the others in the NFT tab.

Using MetaMask to Swap Tokens

If you’d like to learn how to swap tokens, just follow the steps below.

  1. Select the token you have using the top drop-down menu.
  2. Select the token you wish to acquire using the next drop-down menu.
  3. Set the number of tokens you want to spend to acquire the desired token.
  4. Click the “Get quotes” button at the bottom of the screen.
  5. Finally, click the “Swap” button to execute the transaction.

That’s it. The swap is now complete.

Published version: coinmash.co/what-is-metamask-and-how-do-you-use-it