Metamask is a cryptocurrency wallet software, originally used to interact with the Ethereum blockchain. Currently, Metamask wallets can integrate a lot of different blockchains. These include the App wallet version for Mobile and the Chrome app extension, also known as the Extension extension.
Currently, the Metamask wallet can be considered the standard wallet, the most popular today. Used primarily to interact with most blockchains, and also used to test networks.
THE FEATURES OF METAMASK
Buy Crypto Through Debitcard: Users can buy crypto through Wyre in USD. Crypto will then be transferred to the wallet on Metamask.
Send & receive money: After connecting and creating a wallet on Metamask, users can send and receive crypto assets on the wallet by copying the wallet address sent to others.
Swap Crypto: If you want to buy and sell assets on your wallet, there is no need to connect to the AMM, because on Metamask there is now a swap feature integrated.
Intuitive user interface: Its user interface is quite beautiful and intuitive to use.
Multilingual support: A variety of languages including Vietnamese.
HD wallet: MetaMask is an HD wallet, so you don’t need to worry about backing up each pair of public/private keys. Instead, rely on just 12 seed phrases during setup. But you should remember to keep that phrase carefully, if you lose those 12 words will lose all the funds that are stored.
Custom fee: Gas price and gas limit charges can be adjusted.
Add ERC-20 tokens: Add or hide comfortable ERC-20 tokens.
Network options: Advanced developers and users developing DApps over the Ethereum network can also access various demos through the MetaMask wallet.
METAMASK WALLET REVIEW
Advantage
- Easy to use, friendly interface.
- Swap integration should not need to connect to other AMM, saving time.
- As a popular wallet extension, almost all new projects are automatically integrated.
- Customize the gas fee, helping users customize the speed of the transaction completed.
- Multi-blockchain integration.
Shortcoming
- Swap fees are quite high.
- Unable to log in to multiple wallet addresses, each time you want to log out another wallet address, you have to log out.
- Without automatically updating asset data, users must integrate manually. This results in no asset show if the user does not know the contract of that asset.
IS METAMASK SAFE?
Metamask is a non-custodial wallet, i.e merely a place to log in to a wallet. In addition, this is currently one of the most popular wallets in Crypto, so it is highly unlikely that Metamask will cause damage to your assets.
However, there are still cases of loss when logging in to Metamask, be it because the user exposed a private key, or the malicious code installed in the computer read private key while operating on the wallet, … Therefore, it is necessary to be careful in protecting your computer, your phone.
HOW TO CREATE A METAMASK WALLET
In this article, I will guide you to create a wallet on the chrome browser. Brave browsers, firefox brothers can do the same.
Step 1: Select the fox icon in the right corner of the screen. Click Get Started.
Step 2: There are two options:
- One is to Add an existing wallet by selecting the Import Wallet button when you need to add 12 seed phrases.
- The second is to create a new wallet by selecting the Create a Wallet button.
Adding a wallet with 12 seed phrases is very simple just entering those phrases, setting the access password should be quite brief. I will show you how to create a new wallet, remember to follow every step to avoid mistakes.
Select the Create a Wallet button to continue. You’ll see the Help Us Improve MetaMask section (these are just a few terms and requirements between you and metamask). Press the I agree button to move on.
Step 3: Now you set the password to access Metamask, then accumulate in the cell I have read and agree to the Terms of you and press the “Create” button.
When you create a password, the next thing is to save 12 recovery phrases.
I covered a few words already; you followed and copied the 12 words into a piece of paper in the right order and stored them carefully. Next, we need to reconfirm those 12 recovery phrases.
Simply select those words in the correct order, and then press Confirm to end the account creation process and save 12 recovery phrases.
So, you’re done creating an account, and then press the All done button to get to the look of your wallet:
HOW TO ADD ERC-20 TOKENS TO YOUR ACCOUNT
To load ETH or ERC-20 tokens into your MetaMask wallet from another exchange or wallet. You just need to send the address of the account you want to receive the token in MetaMask.
* Note: For Metamask wallets, the ERC-20 network always defaults, transaction fees for receiving coins/tokens usually range from 20-50 USDT, depending on the volume and time of the transaction. In your Metamask wallet, you must always have a few ETH coins available for transaction fees. Just 2 extremely simple steps as follows you can load the token into the wallet:
Step 1: Access the extension and sign in to open the wallet
Step 2: Click Add Token, and then you type the token name you want to add. Let’s take the dollar for example.
Step 3: After adding the token successfully, you move the mouse through the account name, which will display the words “Copy to clipboard”. Tap it to copy your account address, and then send it to the transfer. Or you can do the same on the exchange where you want to transfer the token to the MetaMask wallet.
* Note: remember to choose the right network of the receiving wallet to transfer money from Metamask to the exchange or from the wallet through the wallet. If you choose the wrong network, your coin/token could be lost forever.
Step 4: After entering the Send out wallet address, you can completely choose the fee for trading. The higher the fee, the faster the transaction.
One issue to know and note when using Metamask wallets or DEX wallets is the Gas wei (GWEI) fee, the low gas wei adjustment that has a direct impact on the transfer of pending coins for quite a long time is a very troubling issue. Metamask wallets have a pretty good feature of being able to adjust gas wei fees at will, as well as speed up transactions.
You can choose the level of transfer such as Slow, Average, Fast. In the Transaction Fee section, you click Advanced Options. You can customize the transaction fee.
HOW TO ADD A CUSTOM TOKEN
Step 1: At the main interface of Metamask wallet, select Add token >> Custom Token
Step 2: Enter the project token address you are interested in in the Token Contract Address box. Then select Next and you’ll add a token to it.
HOW TO CREATE MORE ACCOUNTS ON METAMASK WALLETS
If you want to manage many different accounts, you can create more accounts on metamask wallet quite easily as follows:
Step 1: Select the right-angle account icon, and then select Create Account.
Step 2: Fill in the name you want in the Account Name box to facilitate management. Then click Create is the process of creating. Try it, it’s quick and easy.
HOW TO SEND ETH FROM YOUR METAMASK WALLET
Follow each step to avoid errors:
Step1: Open the metamask as normal. You select the Send button to the right of the screen.
Step 2: Fill in the ETH address in the Search box or you can scan the QR code (remember to check the address carefully)
Step3: You need to fill in the following information:
- Amount: The amount of eth you want to send.
- Transaction fee: Confirm gas charges, there are 3 options Slow, Average, and Fast. It can be customized.
- Then you let next go on. The final information includes GAS FEE and the full amount you deposit with the fee under TOTAL. Review the information and press Confirm to end the process.
Because my wallet has just been created from the beginning for you to see easily, so you have not deposited money in it, so report the error, you do not need to pay attention.
HOW TO SEND/DEPOSIT TOKENS INTO YOUR METAMASK WALLET
To send ETH or ERC-20 tokens to your MetaMask Wallet from another exchange or wallet. You just need to send the address of one of the accounts in MetaMask.
The steps are as follows:
Step1: Open the extension icon.
Step 2: Drag the mouse through the account name it will show Copy to clipboard, tap to copy that address, and give it to the transfer. Or the operation on the exchange you want to transfer to metamask wallet.
HOW TO CONNECT MYETHERWALLET WALLET TO METAMASK
Step 1: Select the metamask utility and press the Account icon and select Import Account.
The steps are simply done as follows:
Step 2: You have two options as follows:
- Use private key: Paste your PrivateEtherWallet private key into paste your private key string here and select Import.
- JSON file selection: You’ll need to select the file from your computer and enter the same password you use to access your account on MyEtherWallet:
HOW TO END LEDGER AND TREZOR COLD WALLETS WITH METAMASK
MetaMask now allows Trezor wallet connection or Ledger Nano S, Ledger Nano X. This allows you to:
- Check your account balance (ETH or Tokens).
- Send tokens and collect ETH and ERC20, …
- …
In this step you just need to follow the first step you guide then the metamask steps will guide you:
Step 1: Select the account icon -> Connect Hardware Wallet -> Select the wallet you want and press the Connect button.
Step 2: Select an account you want to interact with. When you successfully connect your account, it will work just like other MetaMask accounts, with the difference being that you need to plug in your wallet to confirm a transaction. Sending/receiving coins takes place the same as the steps above.
However, for example, for the S/X nano ledger wallet, when sending ETH need to confirm, your Ledger Nano S wallet will have a message asking you to“Confirm Transaction” along with the details of the transaction. Check the details of the transaction and click the right key of the ledger to confirm the transaction.
HOW TO RESTORE METAMASK WALLET WITH WALLET SEED (12 PHRASES)
When you accidentally delete your wallet or browser on your computer, even if you reset your entire Google account, you can easily save 12 secret key phrases and you can easily restore your wallet.
Step 1: Reinstall the wallet as the instructions above, go to the step of entering the wallet, you just need to select “Import Wallet”
Step 2: Enter 12 key phrases that you saved in the “Wallet Seed” section. Note that the yellow-orange inscription represents the order number of the character, you must enter the correct number of the order of the key phrases.
Step 3: Enter more passwords for you to open your wallet and sign transactions. Then select Finish as completing the retriever of your Metamask wallet address.
CONCLUSION
Metamask is one of the most widely used standard wallets today, due to its high security, multilingual and multi-string support, which is very popular with users. As it is not only Bitcoin alone, but there are many different blockchain systems, the term Genesis Block is still widely used in this area!
