Does the world of cryptocurrency intimidate you?Do terms like ether, Ethereum, gwei, dApps, ERC-20, and blockchainscare you away?
The problem is that you are experiencing FUD—fear,uncertainty, and doubt.
Things that complicate us scare us away. There aresimpler measures we can take.
What is MetaMask, you ask? Let’s take a closerlook…
What is MetaMask?
MetaMask is an easy way to interact with Ethereumand the Ethereum blockchain. MetaMask is a browser extension or mobilewallet that stores your ETH, ERC-20, and ERC-721 tokens.
MetaMask enables us to explore Web 3.0 and theEthereum blockchain. We can play games, collect NFTs, and use tons of dApps.
How to Install MetaMask
Installing MetaMask is dead simple. The simplestway to do so is with an extension.
Using a browser such as Chrome, Firefox, or Brave,we can go ahead and install the MetaMaskextension.
Once installed, we see a welcome screen.
From there, we are asked if we are new to MetaMask.There are two options—import wallet or create a wallet.
Let’s create a wallet!
To improve MetaMask, click “I Agree”unless you wish to opt-out, click “No Thanks.”
Next, we create a Password. Make sure it issomething unique and new with plenty of numbers and symbols.
Beyond a password, we have a Secret Backup Phrase.This phrase is extremely important! Anyone with this backup phrase can accessyour wallet, thus your funds.
Write down your Secret Backup Phrase with pen andpaper and store it in a safe place.
Into the Ether
Once we have MetaMask installed, this opens upEthereum to us.
There are a plethora of ways to take advantage ofMetaMask. These include dApps, exchanges, and NFTs.
NFTs or Non-Fungible Tokens are a fun way toexplore the possibilities of what MetaMask can do.
A great marketplace for NFTs is Rarible. We cancreate, sell, buy, and these one-of-a-kind creations.
We need to connect our MetaMask wallet first toRarible. From here, we can interact with Rarible.
Buying one of these assets is very simple to dowith MetaMask. We simple click buy, and our MetaMask extension will pop up.
From here, we see the gas fee and total amount inETH. Once confirmed, you will now be the prideful owner of a digital art asseton the Ethereum blockchain!
Sending and Receiving ETH withMetaMask
Sending and receiving ETH through MetaMask is avery straight-forward process. The extension operates much like any othercryptocurrency wallet you are familiar with.
To send, we will first click the send button.We will copy and paste the desired ethereum address into the add recipient bar.
From here, we can set how much we ETH we want tosend, including the gas (transaction fee).
To receive ETH with MetaMask, there are a couple ofways to do so. For one, you can copy and paste your account with someone.
This will share the address beginning with 0x. Wecan scan or share our QR code with whoever we wish!
Be a Fox
Sometimes our transactions seem to be stuck.Congestion can happen on the ethereum blockchain. Think of it like a trafficjam during rush hour.
For example, CryptoKitties, clogged up the entireethereum blockchain. This resulted in very slow transactions and highergas (gwei) fees.
Do not let this discourage you from using ethereumand dApps. There is a way to speed things up with MetaMask! Head to www.swapfol.io to find out how.
Is MetaMask Safe?
MetaMask is a safe way to interact with theEthereum blockchain. That is to say, you will need to follow some simplepractices.
Your backup phrase is the most important element.Whoever has access to this has access to your ETH. It should go without sayingto never share this information with anyone.
Pen and paper is the best approach here. We want towrite down our backup phrase and store it in a safe place. You could even haveit stored in many locations to increase security.
Compared to hardware wallets, MetaMask is lesssecure. Store small amounts you wish to use for daily use. Larger amounts arebest for offline storage devices.
Mobile and More
Now you don’t need to ask: what isMetaMask? Download MetaMask today to start exploring ethereum and thecryptocurrency space.
MetaMask also offers a mobile version. The mobileversion services as a wallet as well as a Web 3.0 browser. The barrier to entryhas never been easier.
To learn more about finance and thecryptocurrency space, read our blog!