In 2021, a huge year for cryptocurrency adoption, saw the number of Ethereum users rise from 51 million to 71 million. Because of the rise of non-fungible tokens (NFTs), decentralized finance (DeFi) and high yield products, more people are looking to get in on the action. An Ethereum “user” is identified by their wallet address – the Web3 version of username and password. Creating an Ethereum wallet is simple, and many people use MetaMask to create their first wallet. Here’s everything you need to know about how to use MetaMask.
MetaMask is a cryptocurrency wallet that holds your blockchain address information to access your crypto while providing access to new projects on the blockchain. MetaMask is like a PayPal Holdings Inc. (NASDAQ: PYPL) account for crypto as it can be used in a variety of places. However, unlike PayPal, funds in a MetaMask wallet are wholly custodialized by the user. In this sense, MetaMask is more of an intermediary between crypto traders and decentralized finance (DeFi) applications.
- Download MetaMask on Google Chrome.
The first step in obtaining a MetaMask wallet is to download the browser extension onto Google Chrome through MetaMask’s website.
The browser extension is designed for quick and easy use when browsing the blockchain. Once you have the application downloaded, you need to create a wallet.
- Keep your seed phrase safe.
To create a MetaMask wallet, you will be assigned a seed phrase. This phrase is…
