In order to use Shiftly, you will need to create a digital wallet — think of it as your digital bank account. Metamask is an extension that will allow you to access the Ethereum blockchain and decentralized applications directly from your browser.
In this article, we will guide you on how to install Metamask on google Chrome, how to create an account and use it to swap tokens with us.
Step 1: Installing Metamask:
- Go to the Metamask website.
- Click “Get Chrome Extension” to install Metamask.
- Click “Add to Chrome” in the upper right.
- Click “Add Extension” to complete the installation.
- Once installed, the Metamask Fox logo will appear at the top right of your browser.
Step 2: Creating a wallet:
After installing Metamask, you will need to either create a wallet or import an already existing wallet. In order to create a wallet, please follow the below instructions:
- Click on the Metamask Fox logo in the upper right corner of your Google chrome browser.
- Enter a password and click “Create wallet”
- You will be given 12 “seed words” for your wallet. These seed words are very important and must be stored securely as they are the keys to your wallet. If you lose them, you will not be able to retrieve access to your wallet. Click “Save seed words as file” and store it in a safe place.
- Finally, click “I’ve copied it somewhere safe” once your seed words file has been safely stored. Welcome to your Metamask wallet!
Here is what the process looks like with images:
Importing an existing wallet:
If you already have a wallet, you can import it simply by clicking “Import account using seed phrase” on the Metamask login page. You will then be prompted to write down the seed words lined to your account directly and to set a new password.
Step 3: How to send tokens to your Metamask account?
Once your account has been created, you will need to fund it with Ethereum tokens (at least) or any other ERC-20 tokens.
- Click the Metamask Fox logo and click the “Deposit” button.
- You will be shown your Ethereum (ETH) deposit address both as a QR code and as “0x4e3C99….”
- You will need to send Ethereum (ETH) to this address. You can purchase Ethereum (ETH) token through centralized exchanges such as Coinbase or Binance.
4. Once your Ethereum (ETH) tokens have arrived to your Metamask account, you can start swapping!
Step 4: How to swap tokens on Shiftly?
In this example, we will show you how to buy an ERC-20 token (DAI) using Ethereum (ETH).
- Go to https://shiftly.finance/
- Login to your Metamask account.
- Make sure you are connected to the “Main Ethereum Network”
- Click the “Connect” button on the upper right-hand side of the page — you will receive a notification to accept the fact that Shiftly is connecting to your Metamask account.
- Another notification will appear asking you to Sign a message attesting that you are in control of this account for use on the Airswap protocol (one of the liquidity providers that we have integrated).
6. In this example, we will swap Ethereum ETH for DAI. These two tokens are selected by default on our user interface. Simply input the amount that you wish to swap.
7. Shiftly will return quotes available from the liquidity providers that we work with (at the time of writing: Kyber network, Airswap and Uniswap).
8. Click “Swap” in order to swap at the current best available rate. Note that you also have the option to select any of the liquidity providers in order to execute the trade, even if the price is less advantageous. The Swap button will only be working (green) if your balance is enough to allow the trade.
9. Validate the transaction in your Metamask wallet, as shown below:
10. The transaction will be sent to the Ethereum blockchain. You can check its status by clicking the “Transaction ID” link which will redirect you to Etherscan.io.
You will get a confirmation that the transaction was successfully completed with the possibility to Tweet about it !
We hope that this article was useful to make your first swap on Shiftly! In case you have any other questions, feel free to visit our help section or to get in contact directly with us.