"I want to add a new token to Metamask, where do I start?"
Behind increasingly common actions, such as buying tokens, there is a long list of intermediate steps. MetaMask is an important bridge when you want to use decentralized applications like Uniswap. Best of all, you can access it easily, wherever you are and without a centralized authority.
Want to know how it works? Join us, we'll tell you about it.
First of all, what is MetaMask?
It is an extension or plugin that allows us to use decentralized applications in an easy way. Users can interact with blockchain dApps without complications. MetaMask uses Ethereum's web interface and API: web3.js, which has become the foundation of the platform. Since its launch in 2016, it has become the easiest way to access all kinds of decentralized applications through a simple interface.
Curiosities you should know about MetaMask:
- It was created to be an Ethereum wallet and a tool to interact with decentralized applications.
- It acts as a link between the extension and the dApp in question.
- It generates a cryptocurrency wallet and controls the user's interactions with the decentralized application.
- It is a very secure tool, as it creates its own asymmetric keys, stores them locally and manages their access.
- It allows sending tokens from another wallet to a new account.
- The tool's Swaps function allows tokens to be easily exchanged.
With MetaMask, you can access decentralized applications in an integrated way from your favorite browser. Aaron Davis and Dan Finlay were the first to lay the foundations for the development of this tool.
Before learning how to add your tokens, remember to always use official means to avoid installing extensions that can lead to phishing or identity theft. Your security and that of your assets is the most important thing.
Read on!
How to add tokens to the Metamask wallet step by step
In a way, MetaMask is a bridge to access dApps, the internet is the vehicle in which we move and tokens are the fuel to launch us into the ecosystem of decentralization.
When you want to buy ETH tokens, you don't need to go through this process because they are already added by default in MetaMask, the doubts arise when you want to add other different tokens. Don't panic, adding tokens to MetaMask is easier than you think. Here are the steps to follow:
- First, set up your MetaMask
- Install the Metamask extension and connect to the platform first. Remember that the platform has an extension for Google Chrome, Brave, Firefox and Opera browsers.
- If you do not have Metamask, go to https://metamask.io/ and click on Download.
- Select your usual browser (Google Chrome, for example) and click on Install MetaMask for Chrome. Wait a few seconds, it will proceed to install.
- Click on the icon
in the top right corner and anchor the fox to your extensions.
- Finally, you can click on Connect your wallet, Metamask will connect to the platform and ask you for confirmation to allow it to work.
- Secondly, create your wallet
- To the right of the address bar you will see the MetaMask fox symbol. Click on it to choose one of the following options: connect your existing career or create a new portfolio.
- If you decide to create a new wallet, you should choose a strong password and keep your secret phrases safe. It is advisable to use alphanumeric passwords, symbols, upper and lower case letters. A good example would be: *Lk!203Yo#5dil!Cryp
- On the screen, you will see a series of 12 words written in a certain order (seed words). Save them in a safe place to recover your account in case you forget your password.
- Once you have added the extension and created the MetaMask wallet, you can access the network to add new tokens.
- Thirdly, add the token to MetaMask
- Open the main account page and select the assets tab.
- At the bottom you will see the Import token option. Click and search for the type of token you wish to add by typing it into the search engine and select it. You can search for multiple tokens at once if you wish.
- After this step, you will be able to see all your tokens in the Assets tab.
- Once you have added the token, you will have the option to exchange it for ETH or other ERC20 tokens on the blockchain. However, the classic way to add tokens is to click on the Custom Token tab and enter the address manually, for example:
- Token address: 0xFA3c05C2023918A4324fDE7163591Fe6BEBd1692
- Token symbol: XCRE
- Accuracy token: 18
- All you have to do is find the contact address of the token and paste it into the Custom Token tab in MetaMask. To do this, you can go directly to the Etherscan browser (use the search bar or swipe the bar to find the token).
Get ready to start trading!
Conclusions of Metamask
Crypto-art, prediction markets, wallets and exchanges... The possibilities of MetaMask are endless, so it is not only used to store cryptocurrencies, but also to buy, sell and exchange NFT, among other things. Thanks to its development, decentralized applications on Ethereum have seen a boost in their use and access to the public.
Among its main advantages, the ability to store private keys locally and with guaranteed security in cryptographic assets, it is a completely free software and very easy to use dApps.
Do you have doubts about how to add tokens to MetaMask? Do you need to obtain funds for your wallet and don't know where to start? How can you send or transfer other existing tokens to MetaMask? Contact us without obligation, Cresio can help you solve your doubts.
