Category: Cryptocurrency markets

Metamask full tutorial for beginners – how to download Metamask, how to create Metamask wallet, how to setup Metamask, how to send/receive crypto to Metamask, how to withdraw crypto from Metamask, how to swap crypto on Metamask, how to add supported cryptocurrency, and how to add the new network in Metamask (how to add BSC/Binance network to Metamask). All in one place for beginners!

🔥 https://metamask.io/

📽 Video Timeline

• 00:00 Intro
• 00:31 How to Download Metamask?
• 03:52 Metamask basic wallet configuration
• 04:41 How to add token support in Metamask?
• 07:30 How to add a new token network in Metamask? How to add a BSC network (Binance)?
• 11:07 How to add a token to your Metamask wallet?
• 12:39 How to send/withdraw token from Metamask wallet?
• 14:33 Outro

What is Metamask?

Metamask is a FREE extension to the browser and smartphone app to create the cryptocurrency wallet that allows you to manage your cryptocurrency on the Ethereum blockchain. You can send and receive your cryptocurrency’s using this wallet.

How to Download Metamask?

First what we need to do is download an Extension for our browser from the official webpage of Metamask. To do this type in browser link: https://metamask.io/download/

As you see this wallet is supported almost on all browsers – Safari does not support this extension and this wallet works on Android and iOS devices.

Choose your browser. In my case will be Firefox and simple click Install Metamask for Firefox.

When the extension will be installed we can start creating our Metamask wallet.

• Select option create new wallet
• InNext we need type password for this application – good to set strong password. For this purposes you can search in Google something like Password Generator and generate strong password – remember to save this password. Good option to store this password can be LastPass or 1password – password’s wallets.
• In this step we see a few phrases and this will be for us very useful if we will want to recover our account and this is very important to not show this frazes to any person – this is only for you. So write this phrases in paper and secure this to anyone hasn’t access to this (remember order of this words has matter, so wrote it in the same order like you see on this fields)
• In next step we need select phrases in good order like we saw in previous step – this is test are we have wrote our phrases in good order.

Congratulations your first Metamask wallet is created! Now you should see the Metamask dashboard.

Metamask basic wallet configuration

Now when you have your cryptocurrency wallet you can make a basic configuration of this wallet.

Click on your logo and select option Settings.

Start from General settings where you can set your Currency Conversion for me USD is ok, so I go to the next option.

I set Primary Currency for a Fiat because this is easy to read for me.

Below you can change the language for your language to easily manage this wallet.

How to add token support in Metamask?

Go to the dashboard and like you see the default is ETH because it is the base ETH wallet.

To add additional cryptocurrency push-button Import Tokens and here you have two options to add tokens to your wallet:

• First option is easy and you can simply search this token and when you find token click in this token and push button Next. In next step you will see summary with question “Are you want to add this tokens?” if yes push button Import Token
• Second option is add some token if not exist, so we back to dashboard and click again Import Tokens and next select option Custom Token. Here you need manual fill those fields.
  • Go to https://coinmarketcap.com/ and found your cryptocurrency in my case will be CRO (by the way this is too very nice projekt where you can get cashback for each your order – I made first move where is unboxing this card and soon I think there will be more info about this project).
  • Find Contract field and here we have two option to add this cryptocurrency
    • Click this button to copy contract code and paste to Metamask and rest of fields should fill automatically or you will be add this manually
    • Second option is push logo Metamask and now you will see info with question are you want to add this token to your wallet.

How to add a new token network in Metamask?

We have some basic knowledge of how works Metamask, now it’s time to add a new network to Metamask.

Why do we do this? The main goal of this is a gas fee for transferring cryptocurrency in the network. Network Ethereum is not a cheap place to make transfers, so a better option is to use another network.

For this video, I selected the network Binance Smart Chain (BSC) network.

Here we have two options to add a new network:

• First option is to go to: https://bscscan.com/ and scroll page to footer where you should find button Add BSC Network – just click on it and Metamask automatically add this network or,
• Go to MetaMask Settings to section Network and push buton Add a Network. Next go to page: https://academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain and copy network data. When you fill data push button Save.

After this you should see your new network with a basic token like is BNB and this toke will be needed for a gas fee if you want to make some transfer.

Here you can add the too new token in the same way as you made it for the Ethereum network.

One pro tip if you want atomically add cryptocurrency from https://coinmarketcap.com – now you can choose what network you want to add this cryptocurrency.

How to add a token to your Metamask wallet?

To add tokens to your network first you need to add a supported token to your network (I show you how to do this at the beginning). If we have added our token to our wallet we can click on our Account to copy wallet ID or choose from the menu (three dots) Account Details and copy ID to our wallet.

Next, go to the place from where you want to send this cryptocurrency to this wallet and type there this wallet ID (not forget to select on what network you want to send it to because you can have the same cryptocurrency on a different network).

How to send/withdraw tokens from Metamask wallet?

Go to cryptocurrency that you want to send and push-button Send.

Type wallet where you want to send this cryptocurrency and the next step type how many you want to send and you will see how fee you need to pay for this transfer at the selected network.

At network Ethereum, this will be a fee in ETH but in the network, this price will be in BNB.