Crypto wallets are digital wallets that serve to store digital assets and enable these assets to be transacted on the blockchain network. It is the only form of wallet compatible with the blockchain ecosystem. Crypto wallets can be: hot wallets or cold wallets.
- A hot wallet is an online wallet, meaning it is permanently connected to the internet. It can be custody or non-custodial.
- A cold wallet is an offline wallet. It is not connected to the internet except when it needs to transfer assets to or from the internet. This is a hardware wallet.
What is MetaMask Wallet?
MetaMask wallet is a cryptocurrency wallet developed to store and exchange NFTs, exchangeable tokens and DApps. It is developed by digital hot wallet. ConsenSys Storing and exchanging Ethereum-based tokens such as OMG, BNT, ETH and NFTs are just a few of them.
MetaMask is exclusive to tokens built on Ethereum only; this means that it cannot store other cryptocurrencies like Bitcoin unless it is wrapped. The MetaMask wallet is available as an extension on browsers and as a mobile app on mobile devices.
How to Install MetaMask Wallet in Browser Extension
A browser extension is a humble software component that adds some features and also raises the bar on how a browser works, that is, extends the browser’s functionality.
The MetaMask browser extension offers the functionality of the MetaMask wallet in web browsers. Since MetaMask cannot be installed on desktops and PCs, its alternative is a browser extension. The MetaMask browser extension is only compatible with: Chrome, Brave, Edge and Firefox browsers.
The following steps outline how to install the MetaMask browser extension using Chrome.
- Open your Chrome browser and type “MetaMask Chrome extension” in the search field or Chrome web store extension and search for MetaMask.
- Be sure to download the certified extension with a checkmark and MetaMask’s web address; all in blue.
- Click on the MetaMask download button and a page will load showing the number of downloads and users.
- Click on the blue icon that says “Add to Chrome”. A small page will open showing what you can do with the extension.
- Click on the “Add extension” icon on the page that opens and wait for it to download. The download should not take more than a minute.
- It installs immediately after downloading and displays the welcome page.
- Clicking on the “Get started” icon will load another page where you will be asked to import your old wallet or create a new one.
- Click the “Create a new wallet” icon to create a new wallet. Takes you to another page where you first set your wallet password; A strong password must be alphanumeric.
- Next up is to get your Secret Recovery Phrase shown on the next page.
- Click on the black padlocked area to reveal your secret expression. Make a note of the edit and copy it somewhere. Then click the “Next” icon.
- Another page will load and you will be asked to confirm your recovery phrase by clicking on the correct word string from the options provided below the blank area.
- After successfully confirming the layout of the recovery phrase, click on the “Complete” icon.
- A greeting page will then follow. Click “All Done” and your wallet is ready.
However, if you have a wallet you want to import, the steps are slightly different.
- Click on the “Import Wallet” icon and accept the terms on the following page.
- Let it load for a few seconds before opening the “greeting message”.
- Then click on the “All Done” icon and your wallet will open after a few seconds of loading.
How to Install MetaMask Wallet on Mobile Phone
- The first step to set up a MetaMask wallet on Android phones is to download the mobile app from: google play storeIt will be installed automatically after the download is complete.
- Next, look for the app icon on your phone and click on it. Wait a few seconds for the welcome page to load, inviting you to MetaMask.
- Click the “Get Started” button at the bottom of the screen. It opens another page where you set up your wallet. You can import your old wallet or current wallet along with your recovery phrase by clicking “Import Using Secret Recovery Phrase”. Or you can create a new wallet by clicking “Create a new wallet”.
- If you are importing your existing wallet, you will need to enter your Secret Recovery Phrase by typing or using the QR scanner icon in the field. Then, type your new password and confirm it in the required field, by entering the password again.
- Next is to click on the blue icon that says “IMPORT” at the bottom of the screen. Wait a few seconds for it to load; then your old wallet will open and it will come alive again. There will be a pop up message on a blue interface that greets you in your wallet and asks if you want to be shown how to buy ETH. Click the “Join the tour” icon if you want to be shown, or the “No, Thanks” icon if you don’t want to be shown.
- But if you don’t have an existing wallet or you’ve lost your Secret Recovery Phrase, click on the “Create a new wallet” icon instead. It will take you to another page where you set your wallet password first – the password must be at least 8 characters. A strong password must be alphanumeric.
- If you want to use biometrics to unlock your wallet, you can check the “Unlock with Biometrics” option. Then check the small rectangular box to acknowledge that you understand that MetaMask cannot recover your password for you.
- Then click on the blue icon that says “Create password”. This automatically creates your wallet.
- Next is to secure your wallet by saving your Secret Recovery Phrase. The emoticon is revealed by clicking the “Start” icon. Takes you to another page with advice on how to hide your Secret Phrase. Click the “Start” icon again and confirm your biometrics.
- Then tap the eyes icon on the next page to reveal your Secret Phrase. After saving your recovery phrase as desired, click “Continue”; You will be asked to confirm your recovery phrase by clicking on the correct word string from the options provided at the bottom of the screen.
- After successfully confirming the pattern of the recovery phrase, click on the “Complete Backup” icon.
- Next, you have your wallet in your wallet with a pop-up message in a blue interface that greets you and asks if you want to be shown how to buy ETH. Click the “Join the tour” icon if you want to be shown, or the “No, Thanks” icon if you don’t want to be shown.
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*All investment/financial opinions expressed by NFT Plazas are taken from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to thoroughly research any product before making any investment.
The technical writer is an aficionado for everything in the blockchain and decentralized world.