What is Metamask? A Beginner’s Guide
What is Metamask? Learn how to setup and use Metamask wallet to buy, sell, and start your very own NFT collection.
Earlier this year on May 10th, 2022, Instagram officially announced its support for showcasing NFT digital collectibles for creators and collectors on the platform. With Instagram being the 2nd most popular social media platform in 2022, this is a big leap forward for the NFT space.
While this move by Instagram is still in its early stages, it can potentially accelerate the adoption of NFTs and its integration into mainstream culture.
With that said, to facilitate this NFT integration, users will need a web3 wallet in order to connect and interact with digital collectibles. MetaMask is one of the most popular wallets in the NFT space, and we’ll be going over what this wallet is all about, how to use it, and more.
What is Metamask?
If you were to visit one of the many NFT market places today, you’d be required to integrate a wallet in order to interact with the platform, and more importantly with the NFTs.
Metamask is a crypto wallet that enables you to buy, sell, and interact with non-fungible tokens (NFTs). The wallet essentially facilitates your experience on the NFT space, acting as your entry point to deposit and withdraw funds, store NFTs, and more.
The wallet has gained popularity among crypto enthusiasts due to its simple user interface and easy installation process making it suitable for beginners as well as advanced users who are looking for an easy way to store their cryptocurrencies securely online
It functions like any other Ethereum wallet by allowing users to send, receive and store Ethereum (ETH) and ERC20 tokens. You can also use it to interact with DApps that are built on Ethereum’s blockchain network.
Further reading: What are NFTs?
How to Use Metamask
If you’re familiar with using web-based apps, or even browser extensions you’ll find Metamask really easy and straightforward to use.
If you’re using a desktop computer or laptop (Mac and Windows) all you need to do is visit the official Metamask website and download the extension for your web browser.
Proceed to follow the instructions just like you would install any other extension. One of the first prompts you’ll get when setting up Metamask is creating a password, and then a recovery phrase. This will be used if you forget your password.
After this, you will be asked to save your seed phrase which is basically like a private key that allows you to access your wallet.
Note: Make sure to save the recovery phase and store it in a secure location. Metamask, and other Web3 wallets do not store the recovery phrase, so it’s your responsibility to safe keep it.
Additionally, you can pin Metamask wallet on your desktop for easy access.
Metamask is also available on mobile devices with support for both iOS and Android platforms. You can either search Metamask on the Apple Appstore or Google Play Store, or follow the link on the official Metamask website.
The setup process is identical to the browser extension outlined above. Follow the prompts, and set up your recovery phrase. Once done, you’ll have access to your Metamask on your mobile phone for easy on-the-go access.
Transferring cryptocurrencies to Metamask
Now that you’ve got Metamask setup and ready to go, the next step is to add crypto funds to your wallet.
With Easy Crypto, you can easily add funds with ZAR and we’ll send the crypto fund directly to your Metamask wallet address.
Follow the steps below to transfer funds to your Metamask wallet with Easy Crypto.
- Sign in to your Easy Crypto Account.
If you’re a new user — welcome! Click on the Sign-up button to create an account and proceed with the account verification process.
- Select the cryptocurrency you want to buy.
When you want to select the crypto asset. Come to the homepage and select the cryptocurrency you want to buy and enter the amount that you want to spend.
Then at the end, click the Buy Now button.
- Enter your wallet’s receiving address.
Once you’ve finished choosing your crypto asset, enter your Metamask wallet’s receiving address to the corresponding cryptocurrency you want to purchase.
- Select your preferred payment method.
You can currently choose between 3 different payment methods when buying cryptocurrency on Easy Crypto.
These include Stitch, Ozow and manual bank deposits. (Based on testing, we found that Stitch tend to be the faster payment method).
Get started transferring your cryptocurrencies to Metamask Wallet.
Connect Metamask to NFT marketplace
As mentioned above, NFT marketplaces will require you to connect a Web3 wallet to interact, buy, sell, and create NFTs on the plaftform.
OpenSea is one of the popular NFTs marketplaces that supports Metamask. The platform has been used by many users around the world and has over 1 million users and counting on its website.
If you want to use OpenSea, you’ll need to connect your Metamask account to the website. Fortunately, this is pretty easy to do. You just need to follow these steps:
First, go to OpenSea’s website and click “Create Account” in the top right corner.
Second, you will go to this site and click Metamask wallet. This will open a popup window for you to enter your Ethereum address and password for your Metamask account.
Third, enter your details into the form fields provided and click “Connect”. Your wallet will now be connected to your account on OpenSea!
Finally, your wallet has been connected to the OpenSea platform. And, you can use it for creating or buying NFTs.
Learn more: How to Buy NFTs in the OpenSea?
Is Metamask Safe?
Well, this question has been asked a lot. If you’re a newcomer you might not really be curious about this. But, if you’re a trader or investor. This issue will be your concern.
When using crypto exchange, you need to put some money (deposit) inside the exchange. The exchange will hold your funds inside their system. Meaning you can’t fully control your money.
Metamask allows you to control your money by yourself. It’s safe and trustworthy because they don’t hold your public, private keys and wallet passwords. The only person who knows this information is you.
The only way it can be hacked is when you’re using several tabs open in the browser and you’re unlocking your Metamask. They will use the tabs to access your wallet’s password.
Most of the time, when you hear about security, you think that it is all about the safety of your money. But the truth is, it’s not just about keeping your money safe. It’s also about keeping your data safe.
Jump to this article: How to Create and Manage Your Password The Smart Way?
To recap, you can think of Metamask as a crypto wallet that enables you to buy, sell, and interact with NFTs.
Metamask is just one of many crypto wallets that can facilitate your entry point into the NFT space. Additionally, Metamask and other similar crypto wallets will serve an important role in the future of the web, or Web3 and beyond.
Whether you’re buying digital collectibles or interacting with DApps and other users on the Ethereum blockchain, Metamask has all bases covered for you.
Further reading: Explore more topics on NFTs at the Easy Crypto Learning Hub.
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Disclaimer: Information is current as at the date of publication. This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.
Last updated August 30, 2022