Managing, buying and selling cryptocurrency is impossible without a wallet. Yes, everyone can register on the stock exchange, get internal accounts, but they are not safe enough, and not so convenient.
Therefore, before using any coins, you need to find a quality storage for them.
Wallet for Ethereum with support for tokens ERC20 is a great option. The project offers increased security compared to other “hot” wallets and increases the convenience of transactions .
Often it is used as a bridge, conducting transactions without using your main wallet.
A Wallet made as a browser extension is an interesting idea. Supported by Opera, Chrome, Mozilla and Brave browser. After installation, you will have access to your personal Ethereum account and ERC20 tokens.
With it, you can not only use Ethereum network applications or store coins, there are functions to receive and transfer them.
The official video shows examples of using MetaMask, despite the English voice acting, it will be useful to watch.
User opinions on the project are ambiguous, because the format of the browser extension for the wallet is not credible. Many are not sure about the high level of security.
It is precisely because of insufficient protection that this project is inferior to
- an online wallet for Ethereum with support for tokens created on this platform.
However, MetaMask also has its advantages, you will learn about them by reading this article.
At least, the extension should be loaded to create an additional link in the chain of transactions (between the sites where you will use the Ethers / Tokens and your main wallets). Yes, it is necessary to perform some actions, but safety increases.
Now there are many projects for storing Ethereum. The choice should be made based on your goals and carefully examine each option. Should I use MetaMask? Evaluate the main advantages:
From the main drawbacks of the project, we single out the lack of alternative options for managing the account. No mobile applications, desktop versions.
There is also no 2FA authentication, which has become almost a mandatory level of security on all sites related to cryptocurrency. In general, there are no significant shortcomings, but first read the reviews on MetaMask.
We have already said which platforms the plugin is installed on, while there is no version of MetaMask for Yandex Browser, but the developers are gradually expanding the scope of their project. To show an example, we use the Google Chrome program. First goes to the official website of Metamask. io:
The center contains links to go to download extensions for specific browsers. Versions are uploaded to the official app stores, so then we get to the Chrome store:
The extension is uploaded to an official source, which is already credible. Here you can see screenshots, read reviews, learn more about the application itself. Click the "Install" button and the window appears in the center:
Confirm the installation of the extension, wait for it to load. Then a new icon appears on the top control panel (in the right corner) and a message stating that the extension is installed:
In general, the procedure is the same as installing any other extensions. The application icon is always available on the toolbar, and through the settings you can temporarily deactivate it.
To activate the MetaMask extension, you need to click on its icon. Having done this for the first time, you will see information about the latest update, then simply click on the blue button:
Registering MetaMask wallet is not difficult, instructions are provided in Russian for the next steps.Clicking on the button will open a new tab in the browser with a greeting:
The first step, after pressing the "Continue" button, is to enter the password. Make up complex combinations of at least 8 characters:
There is something unusual on MetaMask. In the second step, an image will be generated for you. It will appear every time you need to confirm a transaction:
The final step in this tab is to familiarize yourself with the user agreement and click the Accept button (available after scrolling text):
Next you will be presented with 2 more texts with recommendations and warnings, just click Accept and get to the page where you want to save the secret phrase.
This is the most important moment, because it is this combination of words that opens access to the wallet. It can be downloaded from the link or click on the lock to see in the browser window:
A phrase of 12 words is used here, they will be presented in a specific order. Just in case, make a few copies, because having lost the Seed phrase, you will not be able to recover the MetaMask wallet. At the next step, you will be asked to enter the presented words in the same order:
This is the final step, after clicking the Confirm button, you will be directed to the profile and immediately offered to replenish the account. To do this, you can use direct transfer, Coinbase Exchange or ShapeShift exchanger:
Immediately you can not top up, you can evaluate all the functions of MetaMask. Having closed the window with the offer to get ETH, you will see the page of your profile:
The interface is simple and practically does not differ from software wallets for cryptocurrency. In the center is the history of transactions, there are buttons to replenish and send coins. In the left sidebar there is a balance and a button for adding tokens.
Not so long ago, the expansion interface was updated, now it has become even more convenient. To quickly familiarize yourself with the application, immediately click on the icon of the image that was generated especially for you.
You will see the main menu and be able to go to the settings, where you can select the old design:
Also in the settings there is a choice of base currency language (there is MetaMask in Russian), you can see the secret phrase, reset the account and go to the magazine, where all the addresses and transactions are presented.
Users can create multiple accounts for convenient use and enhanced security:
In the same menu there is the item "Create an account". You press on it and 3 tabs appear. You can simply add an account with an arbitrary name, import it (restore), or connect via hardware wallets (Connect tab).
In the main window, the buttons are smaller, you can quickly copy ETH addresses and go to the profile page (Openintab):
As you can see, there are also buttons for replenishment and withdrawal from MetaMask. Below is the transaction history. In the upper left corner is the icon for the additional menu.
In it, you can also copy the ETH account address to the buffer, you will see the balance and you can add tokens:
There is also a "Details" button, by clicking it opens the full address of the created wallet and its version in the form of a QR code. For convenience, buttons are added here to go to the data on Etherscan and export the private key.
MetaMask wallet is used not only for working with Ethers. It supports tokens and this is a weighty advantage. The image above shows where the button for adding a token is located.
After clicking on it, the search form opens, where you can choose under which coin you need to add an account:
For example, one of the most popular tokens was chosen ERC20 called EOS. First we found it through the search, then we clicked the "Add Tokens" button and after that a page appeared with the "Send" button and transaction history.
Now you can switch between balances via the account menu:
Opposite token there is an icon with 3 dots. Click on it to go to the token on Etherscan or to hide it from this list.
This method allows you to add an account in the wallet, adding tokens is the same as on Myetherwallet. When adding tokens, you need to select the second tab "Custom Token":
Here you will see 3 fields that must be filled in using the information on EtherScan. This method is used if some tokens are already attached to your Ethereum wallet.
Go to the blockchain, in the upper part, enter your address and observe the account information. Here we are interested in the list of attached coins:
All ERC20 tokens are displayed and even recalculate them into dollars (if the exchange rate is set).Now you need to select one of the lines in the list to go to the page with information about the token:
In the image we specifically showed where the data needed to fill out the form when adding tokens is located . By analogy, other coins are added, you will immediately see their balance in your wallet and you can also switch between accounts via the account menu.
It is easy to transfer cryptocurrency and tokens from this wallet. The output is available when you click on a special button, it is located in the main expansion window (Send).
Here everything is exactly the same as when transferring from any other wallet or exchange. You need to select an account (account), specify the recipient's address and add Data (comment) if desired:
Also in the form there is a column “Gas commission”. By default, it is set to standard - 21 000 Gas (6 gwei) . It can be changed by clicking on the settings icon.
However, it is better not to do this, so that the “fuel” is exactly enough for the transaction. Otherwise, it may be delayed or not carried out at all.
For various reasons, users lose access to their wallets. In the first step of registration, you could choose to add an existing account.
In addition, you can add a wallet to an extension by importing an account. To do this, the corresponding menu is located in the main menu:
You can restore MetaMask wallet through a private key or a JSON file. When you registered, you were offered to download it and asked to write down the private key.
Therefore, we drew your attention to the importance of maintaining this information, without it it is impossible to regain access to the wallet.
The GoogleChrome app store has a lot of feedback on this extension. He has 4 stars, many complain of unstable work and some inconvenience in the restoration of wallets.
Also, some do not like the new design (apparently they do not know that you can return to the old design through the settings). Positive comments about the application are published more often:
There are reviews of MetaMask on many other sites. After studying them, it seems that the expansion is raw and you still need to work on it.
In any case, it is positioned as an additional link for transactions, and not as the main repository of Ethereum. It is convenient to use it, but in terms of security there are more interesting options.
The safest and most convenient wallet for storing cryptocurrency -
. This is a hardware wallet, it is not free, but it provides maximum protection and is easy to use (it can also be managed via MetaMask.
Recently, MetaMask has not been reported to work It does not connect. Perhaps this is due to the design update, because in general, the project’s reputation is positive.
Use it for small transactions, in terms of convenience, this is ideal, better than any online wallets.
It will also be interesting to you:
- Bitcoin wallet XAPO
- Multicurrency to Shelek for cryptocurrency Octobit (Oktobit)
- Multi purse and to exchange cryptocurrency Cryptonator