MetaMask is the commonly used software wallet that investors use to store their digital assets, interact with the Ethereum blockchain, and access Decentralized Applications (DApps). Let us know the process to create MetaMask wallet.
Download the MetaMask Wallet
MetaMask is available as a browser extension. Hence, users should add the software wallet to browsers like Google Chrome, Microsoft Edge, Mozilla Firefox, and Brave. Additionally, smartphone users can also download it on Android and iOS operating systems. Therefore, they can keep a close eye on their tokens and collectibles.
Click Create a Wallet
Users must head over to the “New to MetaMask” page. There will be two options, Import wallet and Create a wallet. They must press the second one. Later, users must agree to the terms and conditions. Moreover, MetaMask will never collect data like private keys, wallet addresses, transactions, account balances, hashes, and any personal information.
Create a Password
Store the backup phrase
The secret backup phrase helps users to restore their accounts. They can import their MetaMask wallet. Subsequently, users must copy the backup phrase and store it safely. They can write it down on a piece of paper or use a password manager. Users must not disclose the backup phrase to anyone. This will safeguard their cryptocurrency.
Confirm the backup phrase
After storing the backup phrase safely, users should confirm it. The 12-word recovery phrase is shown in a jumbled order. They should choose each word in the right order. Later, users must press the confirm button to confirm their backup phrase.
Follow the safety measures
Before using the MetaMask wallet, users must comply with the safety measures. They should back up their password in numerous places. Crypto investors must never share the recovery phrase with anyone. Additionally, the MetaMask wallet will never ask users to disclose their secret recovery phrases and private key.
The secret recovery phrase acts as a master key to the user’s wallet and funds. Users can never access their MetaMask wallet if they lose their secret recovery phrase. Split the seed phrase into two halves and store it in separate locations. Do not click on links that are not legitimate.
Identify the public address
How can users receive cryptocurrency to their MetaMask wallet? They should share their public address. Users should go to the Account Label and copy the wallet address to their clipboard. They must double-check the characters at the beginning and end before sending them to the recipient.
Users should buy cryptocurrency like Ethereum (ETH) from the leading exchanges and Decentralized Finance (DeFi) platforms. They should copy the public address, paste it into the recipient field, and process the transaction. Check the status of the transaction on the Etherscan block explorer by mentioning the transaction hash. Later, the account balance in the MetaMask wallet will update.
Adjust the gas fees
Sometimes, Ethereum gas fees may skyrocket due to congestion on the blockchain network. However, the MetaMask wallet allows users to set the gas fees. They can go to the Activity section and speed up the transaction. Hence, the gas price in (GWEI) will get adjusted. Later, they can save it and process the transaction.
While sending ETH to a wallet address, users can click any of the 3 options available next to the Transaction Fee. They can press Fastest, Fast, or Slow (with different gas fees). Additionally, users can tap Advanced Gas Controls to customize their transaction fee. They should click the Edit option appearing on top of the Estimated Gas Fee. Users can manually enter a gas price (GWEI), maximum priority fee, and the max fee.
Moreover, MetaMask has also come out with EIP-1559 support. Hence, it shares live gas updates to help investors make better decisions. Further, users can set advanced settings as their default settings. It simplifies the experience by disclosing low, market, and aggressive gas estimations.
Are you a crypto investor keen to store your tokens safely and access DApps on the go? Create MetaMask wallet by following the above-mentioned steps.