MetaMask Extension — Purchasing of Bitcoin through MetaMask

It is well-known that MetaMask is used for transactions based on ERC-20 tokens. MetaMask is available in many forms such as browser extensions and the mobile application. On MetaMask traders can connect with almost all the available dApps. MetaMask is the most popular among users and is also the most preferred one for keeping all of the crypto assets safe.

This blog is a detailed explanation of how to send and receive Bitcoin on MetaMask Extension.

Does it support only one blockchain?

MetaMask Extension is best suited for those currencies that can be traded on the Ethereum blockchain or you can say that ERC-20 tokens. And if you think that you can only use the ERC-20 tokens then you are wrong. Because the users who want to use tokens other than ERC will have to trade their ERC-20 tokens in exchange for the tokens you want to trade. Hence we can say that trading other crypto assets that are not ERC-20 coins is possible.

Can we connect MetaMask with a hardware wallet?

MetaMask Extension is a software-based wallet that stores all the currencies online. And the currencies that are stored online are always in danger of getting hacked. Because nowadays technology is so advanced that just clicking a wrong link can transfer all of your private data to the system of the hacker. And then the account of the users could be hacked easily because the hacker knows the Secret Recovery Phrase of your account.

And to ensure more safety of the account the MetaMask has a separate feature that will allow the users to connect their MetaMask account with a hardware wallet namely Ledger. And if you want to know its process then read the following mentioned steps:

1. Click open the ETH application.
2. Then tap on ‘Connect Hardware Wallet’.
3. Now a pop-up window will open and will ask you to connect the device of your choice.
4. Then tap the ‘Connect’ button.

Hence just by following these steps, it will be connected to the ledger device.

Process of sending Bitcoin

You cannot directly trade Bitcoin by using the MetaMask chrome Extension. But this does not mean that it is impossible to do so. You must be already aware of that Bitcoin can be traded on its network of blockchain. Just like the Ethereum blockchain network is used for transferring only Ethereum-based tokens, the Bitcoin network chain is used for sending only those coins that have the Bitcoin addresses. Given below is the process of how can you send Bitcoin from the MetaMask Extension:

1. Go to the screen, where you can easily see all the tokens of MetaMask.
2. Then click the ‘Add token’ button.
3. In the search box type ‘WBTC’.
4. Then press on the option of Wrapped BTC.
5. Then press ‘Next’.
6. In this final step, you will have to add the tokens you want.

An important point here to be noted is that BTC and WBTC are two different things. And if you want to know the points of differences between them then you should refer to their respective websites. And before purchasing any WBTC coin through MetaMask from any other platform it is recommended to check the safety and security of the platform.

Summing it Up

Before deciding to store your digital assets you must evaluate all the safety measures the platforms offer. But if you do not have much time for it then it is recommended that you should use MetaMask Extension for it. This platform has all the best features that a user needs for keeping their assets safe. And it is not only about safety, other things should also be kept in consideration.

In our blog, we told you about all the steps that you could perform for using the tokens that are not Ethereum based on the MetaMask. And if you will do deep research on the difference between WBTC and the BTC then you will find how advantageous WBTC is. And if in case you face any issue while transacting then you can always connect with the support system of the MetaMask. To get their support all the users have to do is to go under the support section and opt for the best suitable support option for them.