- What is Metamask?
- Pros and cons of Metamask
- Why use Metamask wallet?
- Instructions for installing wallets for new users
- Instructions for depositing and transferring coins/tokens to Metamask wallet
1.What is Metamask?
Metamask is an Ethereum (ETH)-based electronic wallet, also a Dapp browser that helps users better interact with Smart contracts.
Until now, the demand for transactions and use of storage wallets is increasing day by day. Users can install Metamask wallet on iOS, Android devices or as a browser extension (Chrome, FireFox, Opera and Brave).
2. Pros and cons of Metamask
Advantages of Metamask wallet
- Swap integration so you don't need to connect to other AMMs, saving time.
- Easy to use, simple and friendly interface.
- Widespread in new projects, convenient due to being an extension.
- Gas fee can be customized, allowing users to adjust transaction speed.
- Integrate multiple Blockchains.
Disadvantages of Metamask Wallet
- High swap fees.
- Can't login multiple wallet addresses.
- Do not automatically update asset data.
Is Metamask Wallet safe?
Metamask is essentially a Non-Custodial wallet and is currently quite famous for crypto, so losses to your assets are likely to be less likely.
However, there are still cases where the login to the metamask is lost. Because users reveal their Private Key, or get malicious code installed in their personal computer, and then lose their private key while logging in,... You should protect your computer and phone against bad actors by means of 2-factor authentication method (2FA Auth).
3. Why use Metamask wallet?
There are many different wallets out there right now, but here are some reasons why you should use this wallet:
- Metamask is a safe place to manage assets
Now that there are many types of tokens, storage is quite important. Metamask wallet stores your tokens without the need for a centralized website, which prevents hacking. What's more, Metamask wallet can connect directly to your hardware wallet.
- Metamask wallet is also used to swap coins
With the later swap feature, Metamask will find you the best, most relevant sources of prices on the DEX. Helps you have high profit transactions, while limiting the phenomenon of Slippage.
- Interacting with Dapps
On both the browser and the mobile app, there is a function to find smart contract websites and can interact directly.
- Connect to Blockchain
Not only can the wallet connect to Ethereum, but the wallet can also connect to other blockchains JSON-RPC API compatible with ETH. You can scale interoperability and scale in a single interface.
4. Instructions for installing wallets for new users
The installation process is very simple, you can use it right on the web through the extension form without downloading. Then the new user installs on the phone.
Step 1: You access Metamask's Download page .
Step 2: Switch to Chrome mode. Click “Install MetaMask for Chrome” to add to the browser.
Step 3: After the installation is complete, there are 2 options: “Import Wallet” and “Create a Wallet”. In this case, select “Create Wallet”. Then there are some terms of participation, if you agree, select "I agree".
Step 4: Create a password to protect your wallet, this is an important step to ensure your wallet's security.
Step 5: Back up “Backup Phrase”, which is 12 phrases you can backup and restore your wallet. If you reveal it, you will lose your wallet, so keep it carefully.
Step 6: Confirm again 12 phrases "Backup Phrase", drag and drop the words in step 6, so that there is not one letter wrong.
Step 7: Click “Confirm” and you are done.
5. Instructions for depositing and transferring coins/tokens to Metamask wallet
How to add more coins to the wallet
To deposit coins into Metamask, you just need to click on Account as shown below to get the wallet address. Then send tokens/coins to this address.
Note: Token/coin belongs to any blockchain, then send it to the wallet of that Blockchain.
How to add coin/token to wallet
After you have successfully loaded the token/coin, but the wallet still does not show the transferred token/coin. Follow these steps:
Step 1: First select “Add token”.
Step 2: Enter the deposited amount and select Next. Then click “Add Token” and you are done.How to add coin_token to the wallet
How to transfer coin/token from Metamask wallet to exchange
Step 1: You select the token you want to transfer and click “Send”.
Step 2: Enter the wallet address on the exchange you want to transfer to.
Step 3: Enter the amount of tokens you want to transfer and click “Next”.
Step 4: Adjust the fee and confirm the transaction, so that you can make the token transfer.
