A Guide to Metamask and How to Use It
Everything you need to know about the crypto wallet.
In Web3, Metamask is like the Jil Sander black leather wallet of places to store your crypto and NFTs: modern, minimalist, and functionality-forward. And you can expect to find its Maison Kitsuné-esque fox icon on the phone of any crypto trader you know, since the wallet service has 30 million users each month.
Metamask is a crypto wallet that allows you to buy, exchange or invest tokens, and also establishes a secure connection to decentralized apps (dApps). You can use Metamask to connect to NFT marketplaces like OpenSea, SuperRare or Foundation, or to use in virtual worlds like Decentraland or The Sandbox for purchasing metaverse tokens, in-game NFTs like wearables, or virtual real estate as NFTs.
How to set it up
- Go to the Metamask website and download the browser extension for Chrome or Firefox. You can also download it for your phone on the app store. Once it’s installed, open the extension or app and follow the prompt to create a new wallet.
- You will need to create a password for your wallet. You will then be given a 12-word Secret Recovery Phrase that you will need to write down and store in a safe place. Hide it carefully and never share it with anyone. If you lose this phrase, you will lose access to your wallet and all of its assets. It is also recommended that you download the phrase and store it on an external encrypted hard drive.
- You’ll then be asked to confirm the Secret Recovery Phrase. Now your wallet is set up and you’re ready to use MetaMask.
- To fund it, you can buy crypto within MetaMask by clicking the “Buy” icon and selecting Paypal, ApplePay, credit, debit, or bank transfer. Then, select your cryptocurrency of choice and buy the amount you wish.
- A pop-up window will appear, asking you to confirm the transaction, which will be facilitated by Metamask’s partner, MoonPay. Enter your password.
- You’ll then be asked for a verification code that will be sent to your email. Type it in and agree to MoonPay’s Terms of Use.
- You’ll be asked a few basic details like name and billing address. Then, type in your banking details.
- MoonPay will then make a pending transaction between $1–$2 dollars into your account, the exact amount you’ll be asked to verify.
- Confirm your social security number, then confirm your order, and you’re done.
How to use it
Desktop
Browse a website with Web3 capabilities, such as the NFT marketplace, OpenSea, and connect your Metamask wallet. If you’d like to buy something, make an offer. And expect to pay “gas fees,” transaction fees paid to Ethereum network validators. Tip: they fluctuate throughout the day depending on network traffic, so if they’re high, check back again later. If the offer for the digital art or item is accepted, it will be transferred in your name, then live in the NFT section of your Metamask wallet.
Mobile
Start by entering the browser provided within your Metamask mobile wallet, then go to your website of choice and repeat the above steps.
Happy shopping, investing, and metaversing, frens*!
*Frens is a slang term for your crypto friends.