How to Crypto: Setting up MetaMask wallet — What, Why and How?
A quick and compact tutorial that will familiarize you with all the necessary basics of setting up MetaMask cryptocurrency wallet.
What is MetaMask?
MetaMask is a software cryptocurrency wallet that is mainly used to interact with the Ethereum blockchain — even though it is possible to connect it to other netwroks as well, i.e. Binance Smart Chain. You can access your MetaMask wallet either through a browser expansion or a mobile app. What I like about this particular wallet is its friendly user interface and that it is easy to use as well as free to use.
Why would you need a crypto wallet?
If you are completely new to cryptocurrencies, a wallet is used to store your coins and it is also from where you will eventualy spend them, it is considered one of the basics in cryptocurrency world.
Holding your coins in a wallet is generally speaking more safe than keeping them on an exchange account. It also comes with additional benefits, your wallet allows you to connect to and use other decentralized applications, i.e. decentralized exchanges, such as PancakeSwap or Uniswap, to trade, farm and stake cryptoccurencies, and more.
How to set up MetaMask
To install MetaMask as a browser expansion, firstly, go to metamask.io and click “Download” in top right corner. There you will see a list of supported browser and if you are using one of them, proceed by clicking “Install MetaMask” button. That should take you to Google webstore where you can add the browser expansion.
Secondly, after successfully adding the expansion, a new tab should appear (if it does not, simply click open the expansion and the same tab will appear) where you will have the option to select “Create a Wallet”. You will be able to allow or decline MetaMask usage data collection — that comes down to personal preference — and after that, you will start creating your wallet.
Choose a password that you will use to sign-in on this device and also other devices onto which you will import the wallet in the future.
Copy and save or write down the 12 words of your Secret Recovery Phrase. (You will use it to import the wallet to other devices or for account recovery)
All done, you are in! Your wallet will have randomly generated account address and all you have to do now is not forget your password and not lose your Secret Recovery Phrase.
Personal experience with MetaMask
I have been using MetaMask for over a year now and so far I am very satisfied with it. I have never had any real issues with it and have always been pleasantly surprised with how many services and applications it is compatible. It is simple, straightforward and easy to use — even for beginners.