How to set-up an ERC-20 compatible wallet — MetaMask
So you’re looking for somewhere to store your newly acquired tokens, FORCE I hope!
Well you’ve come to the right place. It may sound very confusing and daunting, but I can assure you, setting up a ERC-20 compatible wallet is super easy and will take you less than 3 minutes!
So let’s get started!
For this guide we are going to be using MetaMask which is one of the easiest wallets to set up, access and use. It is a Chrome extension, therefore as long as you are using Google Chrome, you will always be able to access your crypto with ease.
If you would like to use another wallet provider, you can find the full list of ERC-20 compatible wallets here: https://tokenmarket.net/what-is/ethereum-token-wallets/
How to get MetaMask
Firstly, you need to be using the Google Chrome browser. If you do not use Google Chrome, you will need to use another ERC-20 compatible wallet from the list here.
If you do not have Google Chrome, but would like to start using it, you can download it here.
Once you have Google Chrome opened, you will need to visit the following URL: https://metamask.io/
Once you are on the MetaMask homepage, you will need to click the “GET CHROME EXTENSION” link (first option).
This is take you to a Google Chrome Extensions page, which will give you the option to “Add to Chrome”. As shown below:
Once you have clicked “Add to Chrome” (the blue button), you will have a pop up appear at the top of your screen. You will need to click “Add extension” for Google Chrome to download and and add the extension to your browser. As shown below:
After clicking “Add extension” you may have another window appear in the top right of your screen. You can instantly close this, this is just notifying you that MetaMask has now been added to your browser. As shown below:
You will now have MetaMask installed on your browser! This is step one complete. You will be able to find MetaMask at the top right of your screen on Google Chrome in your extensions bar. Just look for the fox’s head. As shown below:
How to set up a MetaMask Account/Wallet
You will first need to click on the MetaMask logo in your extensions bar, as shown in the image above. This will open the MetaMask application popup.
Depending on when you are reading this, you see a slightly different popup appear. This is due to MetaMask still being in its beta phase, therefore changes are expected. During the time of creating this guide the following popup appears:
If you see this exact same message, you will want to click “TRY IT NOW” as this is giving you access to the new and improved version of MetaMask. This will then take you to a new webpage where you will need to create the passwords to your account.
If you did not receive the popup, you should see the following which is the exact same as the webpage:
Click “Continue” and follow along with the rest of the steps.
You now need to create the password that you will use to access your account. We strongly recommend creating a very strong password with a mixture of random characters including upper and lowercase letters, numbers and symbols.
A good example of a strong password would be: KIK(LN3%30+f6QF
You can also use the following website to create you a strong password: https://strongpasswordgenerator.com/
Once you have created your password you will need to click “NEXT”. This will now display your ‘Unique Account Image’. You do not need to do anything with this, this is to help you identify the difference between different accounts in case you decide to create different accounts.
Click “NEXT”, which will take you to the ‘Terms of Service’ page. Once you have read the ToS (Terms of Service) you will need to click “Accept”.
If you are unable to click “ACCEPT” you will need to make sure you have scrolled down to the bottom of the ToS. You will see the “ACCEPT” button change colour and you will now be able to click it.
After clicking “ACCEPT” you will shown the ‘Privacy Notice’. Once you have read the Privacy Notice, you will need to click “ACCEPT”.
The last and final Notice will then display which is the ‘Phishing Warning’. Once reading this, click “ACCEPT”. This is the last notice page.
After clicking “ACCEPT” you will be taken to the ‘Secret Backup Phrase’ page. This page is extremely important and you need to be sure to make a note of your Secret Backup Phrase. If you lose your password, you will be able to access your wallet with your Secret Backup Phrase.
After clicking the grey box, you should see a bunch of random words in an order. You will need to make a note of these words and the order they are in and store them in safe and secure location. Whether on your computer or on paper, be sure to keep them safe.
You should something similar to the below image:
Once you have made a note of the random words and the order they are in, you will need to click “NEXT”.
You will now be taken to a page where you will need to enter your random generated words and in the order they were presented to you.
Be sure to enter the words in the same order that they were presented to your earlier. You can enter the words by click on the words in the grey boxes, as shown below:
Once you have entered your ‘Secret Backup Phrase’ you will need to click “CONFIRM”. This will now lock in your Secret Backup Phrase in case you lose your password. So be sure to keep hold of it and keep it safe and secure.
You will now be presented with a new page asking you if you would like to move Ethereum (ETH) to your account. This is optional, however if you plan on sending your tokens to another account, you will need Ethereum in your account. You can add Ethereum to your account at any time, for the time being we will close this. Click the “X” in the top right corner.
You now have a MetaMask wallet! The page you will see now is your online wallet. You can now send and receive ETH (Ethereum) or ERC20 tokens to and from your MetaMask wallet.
You can also access you wallet from any webpage, by clicking on the MetaMask’s logo in the extension bar. This will allow you to access your wallet from any webpage, at anytime.
IMPORTANT: You will want to also save your ‘Private Key’. This will also grant you access to your account if you lose your password or to restore your account. NOTE: Do not share your Private Key with anyone. Once with access to your Private Key has access to your wallet.
We can find your Private Key by following these next steps.
Click the MetaMask Logo in your extension bar to open up your wallet. You will then want to click on the three dotted line. As shown below:
A small popup will appear and you will want to click “Account Details”, as shown below:
This will now display your account details. The only option we are interested here is the “EXPORT PRIVATE KEY” option. Click that.
You will now be asked to enter your password in order to expose your Private Key. Enter the password you first created and click “CONFIRM”.
Once you have entered your password and clicked “CONFIRM”, you will be presented with your Private Key. It will look like the follow:
Please note that the account displayed is a test account and there will be no ETH or Tokens stored on this account.
The above is an example of a Private Key. Once yours is displayed, be sure to copy it and keep it somewhere safe. We recommend making multiple copies of it and storing them somewhere safe.
Remember, if someone has access to your Private Key, they have access to your wallet. So keep it SAFE! — Do not share it with anyone!
How to send ETH or Tokens to your wallet
Now you have your wallet, you will want to be able to receive ETH and tokens. How do we do this?
Open your MetaMask wallet, by clicking the logo in your extensions bar, as shown below:
You will now want to click where it says “Account 1”. If you have changed the name of your account, you will want to click in same place.
Once you have clicked where it says “Account 1” and “Copy to clipboard”, you will now have copied your Public Key.
Your Public Key is your wallet address. You can share this with anyone. You will need this address to receive ETH or Tokens to your MetaMask wallet.
Paste your Public Key as needed.
This completes the MetaMask basic guide to installing MetaMask and receiving ETH & Tokens to your wallet.
Still struggling or need help?
Join our friendly team and community in Discord, we would be happy to help!
You can join here: https://discord.gg/K6e6Mhy