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How to setup a MetaMask Wallet on Google Chrome?By Swati Keswani | Oct. 8, 2018, 6:18 a.m. GMT
If your Ethereum wallet is a wallet you only use to store and transfer Ethers, find a new one. There are tonnes of Ethereum applications coming up and the only way to navigate your way through these applications is by being on a powerful, multi-functional Ethereum wallet. Your best bet here is Metamask.
MetaMask is a self-facilitated wallet to store, send and get both ETH and ERC20 tokens. It enables you to control your funds securely by giving you 12 words to store that you can use to regenerate your Private Key if you happen to lose it.
Let’s take a look at a step-by-step process to set-up a Metamask Wallet:
- Log on to Metamask.io. MetaMask acts as a Google Chrome extension
- Click on Get Chrome Extension and access the chrome extension, you will be redirected to this page:
- Click on “Add to Chrome”, a pop up appears on the screen. Click on “Add Extension”.
- Now, you will see Metamask’s logo in your extension list, press “Continue” to start
- Use a password of minimum 8 characters that is easy to remember but difficult to hack to create your account.
- A unique image will be generated which will be shown every time you transact. Now, click Next.
- You will be redirected to the “Terms and Conditions” page, read the terms carefully and click “Accept”. Similarly read the Privacy and Phishing Warning and Accept.
- Now you will reach the “Secret Back up Phrase” page. Click to reveal your phrase. Remember you need to keep this phrase forever, so you may choose to download it and store it safely on an external drive or write it down and safe-keep the piece of paper forever.
- Now, it will ask for you to confirm your backup phrase by clicking on the words shown in the sequence as it was shown to you. Then press Continue.
- Then you will get three options to deposit Ether. Select the method you like and proceed to deposit Ether. You may choose to send the Ethers directly or use Coinbase or ShapeShift.
- In the shown example, continue with Coinbase, it will redirect you to Coinbase. Enter amount, Coinbase account email id and continue.
- Booom! You have now successfully created your Metamask account. Now when you click on details you will get your address in QR code and written format. This is the address on which you can receive Ethers.
- One last thing. How to send Ethers using your Metamask account? When you click on Send, a pop-up appears which asks for the recipient address. You may choose to type in the recipient's Ethereum address or scan the QR code. You then need to enter the amount of Ethers to be sent, network fees you want to pay (in Ethers). You can set the gas fee per your liking- only remember that the transaction will happen immediately only if the quoted gas price is greater than the current average gas price. You can also optionally enter Hex Data associated with a transactio though this is not mandatory. Hex data includes details of the smart contract function being invoked.
This is how you can create your a Metamask account and deposit, send and receive Ether using your Metamask account. Try it out, and let us know if you get stuck anywhere.