How to Set Up a MetaMask Wallet

You need a wallet to buy an NFT. This isn’t the regular wallet that you have in your pocket. This Wallet is digital that you can use to connect to different marketplaces selling NFTs. This would help you to get NFTs of your choice in seconds.

The users of the most popular software wallet “Metamask” have passed over 10 million users worldwide. It can be connected virtually to any Ethereum-based platform. If you are looking to buy your first NFT (nonfungible token) then this can come in very handy. Metamask is used to buy Ethereum-based tokens.

There are many other wallets available also but Metamask is one of the best. It has been used widely by people all around the world. The user-based has crossed over 21 million people. This is about 38x since 2020.

You can call it one of the hottest things that are available right now to make your transaction seamless. It is not only used to buy or sell Ethereum-based tokens but it is also used to lend assets on a DEFI (decentralized finance) protocol. It is available as an application or a web browser. You can download it directly into your browsers. This includes all kinds of Browsers such as

1. Google Chrome
2. Mozilla Firefox
3. Brave
4. Edge Browser

It can be installed as a simple extension. One of the best parts of it is that it can stay active forever and you can buy and sell assets just in a blink of an eye at any point in time.

Of the features that make it unique is its compatibility with all of the Ethereum-based platforms. It’s swift, fast, and lightning-quick. MetaMask currently allows users to be connected to over 3700 different applications as well as Web 3 services.

Installation

The first thing you need to do is to install the metamask. You just need to head over here. You will be presented with the following options that you can avail yourself of.

Browser

You need to have the browser installed. MetaMask is compatible with a browser like Google Chrome, Firefox, Edge, and Brave.

Android

It is compatible with android also. So you can use the wallet on the android as well.

IOS

It is also compatible with IOS.

Once you have selected the right option you can click the install button to install the metamask into your device. The process will be very swift.

You need to navigate to the MetaMask icon on the top right corner of your browser to execute it once it’s available click on it and you will see a new page. In case you can’t see it on your browser just take your cursor on the extension icon, click on it and enable the MetaMask icon.

There will be two options that you will be presented with. The first option is

Import Wallet

This option is for people who already have an account on Metamask and they want to import their wallets.

Create a New Wallet

This option is for users who want to create a wallet from scratch.

When you select the create wallet option, A short prompt and a message will appear in front of you. You need to remember this for your whole life. You need to write the wallet password on a piece of paper so that you never forget it.

It will prove to be a good starting point for you to make your first transaction.

Note: never store your password in digital form or never email it to yourself. You will be prone to hacking more than you can imagine so it is recommended to write it physically on a piece of paper.

Secret recovery phrase

These will be random phrases that will be given to you by the Metamask wallet. You need to remember it for the rest of your life. These will help you to recover your wallet in case you forget the password. Moreover, this will help to recover your wallet in case of a hack attack. There will be 12 works that should be written in sequence so that your wallet can be recovered. In case of any problem, you can also email Metamask support.

Try to store this recovery phrase on a piece of paper as well so that it stays out of reach of hackers.

After you have completed your installation and your Wallet has been set up. You can now use your wallet as you wish.

Public Address: You can share this Address with people publically. This will help you to receive tokens and digital assets. You can think of it as your office address as well so you don’t need to shy yourself from sharing it with other people.

People openly paste their addresses on Twitter facebook posts for giveaways. We have even seen people posting their addresses beneath youtube videos. Always make sure your inbound tokens coming from people are compatible with MetaMask.

There are three buttons that you need to look for in case of any confusion. These are:

• Buy
• Sell
• Swap

You can easily access your public address by clicking on the account name and then you can copy it to share it with other people. You can click on the layered square icon to copy it to any place you want.

In the end, you need to fund your wallet with an amount equivalent to the ether. All the actions of the blockchain platform cost a fee. If you are moving your assets from one place to other or you are creating an NFT collection there will be a fee to bear. This fee is known as the gas fee. This will be denominated in ether.

You would be wondering how much ether will be enough for you. For this purpose, you can have ether equivalent to 150$. This will cover your initial fee. Once you have got enough funds you can now move your crypto assets from one place to the other in no time. You can also use the option where you can swap your ether with another token available in the app.

With most of the platforms, there will be an option where you can ”connect” your wallet to the platform. You need to make a transaction to connect your wallet. This simply means that you own the wallet and verifying your wallet doesn’t cost you anything.

Some common questions that you can incur:

How Can Install Metamask:

You can install Metamask on your Android, iPhone, and Web Browser. Go to https://metamask.io. You can also directly install it from Google Chrome Store, Google Play Store, and Apple Play Store.

FAQs: