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What is MetaMask and Steps to Create a MetaMask Wallet

12 November, 2022

The virtual currency market was formed and swiftly evolved with the growth of the digital platform. As a result, a number of electronic wallets have been launched to satisfy the demands of securing virtual currency. And among them, MetaMask is the most popular wallet.

💎What is MetaMask?

MetaMask is a free Crypto wallet software that lets users engage with the blockchain world in a straightforward manner. It was originally designed to be compatible with only the Ethereum blockchain. However, MetaMask users can trade, sell, and buy crypto assets on many other blockchains thanks to their massive improvements.

MetaMask is integrated as an extension to work on internet browsers like Chrome, Firefox, Brave and Microsoft Edge. MetaMask also deploys their wallet application on mobile devices and supports both iOS and Android. Since E-wallets allow users to use decentralized applications without having to sync the entire Blockchain on a device or computer, MetaMask is becoming more and more popular.

💎Advantages and Disadvantages of MetaMask

Advantages:

  • MetaMask is a software with clear source code, users can rest assured regarding its authenticity.
  • Supports account backup.
  • Compatible with many exchanges like Wyre, Shapeshift, or CoinSwitch, thus enables exchanges between ETH and other coins.
  • Modern and User-friendly interface that makes it easy to interact with the blockchain.
  • Can use any Crypto application thanks to being integrated with over 4,000 dApps.
  • Fast and reliable customer support service.

Disadvantages:

  • Being a hot wallet (also known as an online wallet), MetaMask is more vulnerable to hacks and security breaches than cold wallets.
  • Being a browser extension instead of an independent application makes MetaMask experience instability at times.
  • While MetaMask doesn’t have access to the user’s account, their web browser might do. This might cause security breaches.

💎Create a MetaMask Wallet

  1. MetaMask Extension on browser

Currently, MetaMask supports 4 browsers and users can install it through their respective stores: Chrome, Firefox, Opera, and Brave. This guide will focus on installing MetaMask on Chrome. The steps are quite identical on other browsers, so rest assured.

🔻Step 1: Go to MetaMask’s official page: https://metamask.io/

Click “Download for Chrome” and this will lead you to its extension on Chrome Web Store. Click “Add to Chrome” to download this extension and continue with “Add Extension” when the browser asks for confirmation.

🔻Step 2: Once it’s done. MetaMask will automatically open for setups. Click “Get Started”. You can always access this extension by clicking on the extension logo in the top right corner of Chrome.

MetaMask will show the screen below to present the terms and requirements between you and MetaMask. Click “I agree” to go forward.

Here you will have 2 options:

  • Import wallet: If you have already had a MetaMask wallet, you will need to provide a Secret Recovery Phrase (a 12-word seed phrase) in order to continue using that wallet on Chrome.
  • Create a wallet: When you are, like they said, completely new to this wallet. For starters, choose this option.

You will be asked to create a password, which is required every time you log into MetaMask on this browser. Make a unique password of your own (must be at least 8 characters), tick the checkbox “I have read and agree to the Terms of use” and click “Create”.

📍 IMPORTANT NOTE: This password is different from your 12-word seed phrase/Secret Recovery Phrase/Private Key. It only provides you access to MetaMask on this browser, not to any wallet inside which your assets may be stored. Other people may gain access to your assets if they have your Wallet’s Private Key rather than your MetaMask password.

🔻Step 3: This screen will show up once you have created a password. It is recommended to watch the clip and read the article on the right for full understanding of a Secret Recovery Phrase and its importance. Click “Next” to process to the next screen.

Click to reveal your secret phrase. Make sure to store it somewhere safe and secured. Then click “Next”.

Now, MetaMask will ask you to confirm if you’ve got your Secret Recovery Phrase by asking you to arrange the below words in order. Once you are done, click “Confirm”.

If this screen appears, then you’ve got them all correct and are ready! Click “All done” to finish your setup.

2. MetaMask App

MetaMask is available on both iOS and Android. The process is similar to that of the extension version. This guide will focus on the Android version.

🔻Step 1: Go to MetaMask’s official page on your phone’s browser: https://metamask.io/ Then Tap “Download on Google Play”. It will direct you to the app on Play Store. Tap “Install” and “Open” once it is done.

🔻Step 2: Tap “Get started” when the screen introduces you to MetaMask. MetaMask will show the screen below to present the terms and requirements between you and MetaMask. Click “I agree” to go forward.

Here you will have 2 options.

  • Import using Secret Recovery Phrase: If you have already had a MetaMask wallet, you will need to provide a Secret Recovery Phrase (a 12-word seed phrase) in order to continue using that wallet on your phone.
  • Create a new wallet: When you are, like they said, completely new to this wallet. For starters, choose this option.

You will be asked to create a password, which is required every time you log into MetaMask on this browser. Make a unique password of your own (must be at least 8 characters), tick the checkbox “I understand that MetaMask cannot recover this password for me.” and tap “Create password”.

📍 IMPORTANT NOTE: This password is different from your 12-word seed phrase/Secret Recovery Phrase/Private Key. It only provides you access to MetaMask on this browser, not to any wallet inside which your assets may be stored. Other people may gain access to your assets if they have your Wallet’s Private Key rather than your MetaMask password.

🔻Step 3: This screen will show up once you have created a password. It is recommended to watch the clip and read the article for full understanding of a Secret Recovery Phrase and its importance. Tap “Start” to process to the next screen.

Tap “View” to reveal your secret phrase. Make sure to store it somewhere safe and secured. Then tap “Continue”. Now, MetaMask will ask you to confirm if you’ve got your Secret Recovery Phrase by asking you to arrange the below words in order. Once you are done, tap “Complete Backup”.

If this screen appears, then you’ve got them all correct and are ready! Click “Done” to finish your setup.

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