Crypto Newbies - Set Up Your First ERC20 Compatible Wallet, Metamask

By boyka | Crypto Newbies | 14 Apr 2020


This is the second of a series of blog posts i will do, they will target new people on the cryptocurrency community. In this post i will briefly talk on how to start storing your crypto and how to set up and use one of the most common and more reliable ERC20 compatilble wallets, Metamask. There is a huge amount of wallets you can chose from, if you are a new user i suggest you to use Metamask, its simple, its compatible with all erc20 tokens and is integrated into a lot of Dapps.

What is MetaMask?

Metamask is a cross browser extension that lets you run dApps without being part of the Ethereum network as a Ethereum Node. MetaMask manages your Ethereum wallet, it´s a very accessible, easy, and fast way to store any erc20 token. The extension is available for all popular browsers such as Goggle Chrome, Brave or Mozzila.

 

 

How to set up Metamask?

 

1- Visit https://metamask.io/ and click the Download button.

 

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2- Chose to install on your browser ( i was using Firefox, but its the same for other browsers), simply click install on Firefox.

 

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3- You will be redirected to the Mozilla add-on page (similar for other browsers), click add to Firefox and agree with the permissions.

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4- MetaMask is now added to your browser, you will see a little pop up, just say you Got it.

 

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5- You should be redirected to a new page, if not, press the little fox icon on the top right corner of your screen and you will see this:

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6- Just press get started and you will be given the choice to create or import a wallet, since it is your first time click create a wallet.

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7- Agree with the conditions and set up your password, agree one more time with terms and conditions and you will be given a seed phrase. You should write this phrase in a secure place. After storing your words, click "next", you will now have to input the words in the same order they were given to you.

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8- Congratulations, you have installed MetaMask, make sure to keep your seed words safe and do not forget your password. You should be seeing something like this.

 

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Well, but how to use it?

To start using MetaMask  click on the fox icon in the top right corner of your screen.

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Under your account name (Account 1, on my case) you will have your wallet address. By default, the only coin that shows up is ETH, but if you press the "Menu" button you will have the choice to add new tokens.

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 Click it, and search for the token you want, lets try it with BAT.

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Click on BAT (Basic Attention Token), scroll down click "next" and "add token", you will now be able to see every amount of BAT you earned via publish0x (if you choose to withdraw it to your MetaMask wallet obviously)

 

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I hope you didnt have troubles setting up MetaMask, if you follow the step by step guide i think even your grandma will be able to start storing crypto. If you need any help just leave a comment.

My next post will be about how to use common exchanges like Coinbase or Binance.

 

Previous Blog Entry:

Terms You Should Know -> https://www.publish0x.com/crypto-newbies/crypto-newbies-terms-you-should-know-xqrgme

 

New Blog Entry:

 Withdraw Publish0x Earnings, Transform Them Into Fiat Or Store Them In Your Private Wallet -> https://www.publish0x.com/crypto-newbies/crypto-newbies-how-to-withdraw-publish0x-earnings-transform-xlpqgz

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