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How to Set Up Your Metamask Wallet?

The current trends in the domain of blockchain and cryptocurrencies have brought not only forward new technological advancements but also completely massive transformations in the experiences of digital technology. Cryptocurrencies, for example, have changed the conventional views on financial transactions and exchanging money in return for products and services. At the same time, dApps have changed the approaches to using traditional applications, albeit with prominent value advantages for users.

If you want to use these solutions, you must know how to set up Metamask wallet and use its features. How is the Metamask wallet useful for accessing blockchain and crypto applications? A crypto wallet is an essential tool for accessing cryptocurrencies and the ecosystem of decentralized applications. However, you must be familiar with the best practices for setting up a Metamask wallet with detailed knowledge regarding its basics.

The following post helps you find answers to “How to set up a Metamask wallet?” in the form of simple steps. You can learn about the specific highlights which separate Metamask from the crowd, thereby validating the reasons for using Metamask. Most important of all, the post also reflects on the use of the wallet for accessing NFTs, cryptocurrencies, or decentralized applications.

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What’s needed for a MetaMask account?
First, users must install MetaMask as either a mobile application or a browser extension. To install the browser extension, users can head to the MetaMask website, click “Download,” and select their preferred browser (Chrome, Firefox, Brave, or Edge). Once completed, users can follow the prompts to add the extension. Mobile users can download the MetaMask app from the App Store for iOS or Google Play Store for Android.

Once MetaMask is installed, users can open the extension or mobile app and click “Get Started.” Selecting “Create a Wallet” will begin the setup process, where users will need to create a password. This password will unlock the wallet on the user’s device. After creating the password, MetaMask will provide each user with a 12-word secret recovery phrase. It is crucial to write down this phrase in the exact order presented and store it in a safe, offline location, as it is necessary for recovering a wallet if a user forgets their password or needs to restore it on a new device. Once the seed phrase is confirmed by selecting the words in the correct order, the setup is complete, and the MetaMask wallet is ready to be used.

Are there any risks to using MetaMask?
Despite MetaMask’s security features, there are risks to using cryptocurrency applications, of which users should always be mindful. Phishing is a significant risk, as attackers create fake websites or extensions that look like MetaMask or other DeFi to steal users’ private keys, seed phrases, or funds.

Further, if a user accidentally loses their private keys, they cannot be recovered, and thus, the user would lose access to their wallet funds.

MetaMask’s mobile app is available for iOS and Android devices, and is as slick and as easy to navigate as its browser and extension. In some ways, it’s even more pleasant to use on the narrower, more compact interface of a smartphone display, which has less empty space than the browser version.

All the same features are present and accounted for: buying, sending and receiving assets, with the addition of browsing decentralized apps (dapps) like DEXs, decentralized finance (DeFi) apps, developer tools and more.

Syncing the mobile app with your browser wallet is a cinch, too—simply go to ‘Settings’ and ‘Advanced’ on your browser version, select ‘Sync with mobile’ and scan the resulting QR code with your handset to link your accounts.

DeFi and hardware wallet smarts
Another string to MetaMask’s bow is its support for DeFi apps, which no doubt contributed to the company exceeding one million monthly active users in October 2020.

You can, for example, link your Compound account directly with MetaMask, letting you use your assets quickly and easily. As the popularity of dapps continues to grow, this smooth integration will become more and more important (not to mention, greatly appreciated) to MetaMask users.


Users with Trezor or Ledger hardware wallets also have the option to connect their devices to their MetaMask wallet. As you’d expect, it’s as user-friendly as the rest of MetaMask’s feature set. Simply open the menu, click ‘Connect hardware wallet’, click connect, plug it in via USB and approve MetaMask on the device, and you’re basically good to go.

Verdict
If there’s one main theme throughout this review, it’s simplicity. MetaMask is a superb wallet for beginners due to its ease of use, without skimping on features for the sake of brevity