A basic introduction to MetaMask

in rpromo •  3 years ago 

Introduction:

Looking into the current bull market, it is no secret that there have been multiple explosions in popularity for few crypto sectors at the expense of the others. Some cryptocurrencies have skyrocketed to pull 10X or more while others failed to surpass even half their previous ATH. In the midst of this, the Defi sector has acquired the lion's share when it comes to popularity, investment, and attention. This should come as no surprise given the revolutionary technologies it brings to get rid of traditional financial intermediaries and push the world one more step to the decentralized financial freedom.
Trading, lending, borrowing, mining...and many other activities are now open to all without having to rely on a traditional bank or centralized exchange. All that you need is a tool to bridge from your regular internet to the new world of finance...
In this small guide, I'm going to introduce you to one of the best and most useful tools that serve as the only key you need to reach that endless world of decentralized applications...

How to use MetaMaks:

Well, the first thing you should do to use Metamask is obviously to install it- and as simple as this step might appear, you have to be so careful about it because there are dozens of fake Metamask extensions that tend to surface from time to time around the internet. So, please, make sure you are on the official website, not any other shady one
The official website is: https://metamask.io/

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Once you're there, you'll be welcomed by this nice interface

2 Click on either "Download" buttons on the home page and the website will automatically detect which browser you use and direct you to the right place accordingly. I'm using Google Chrome so I've been directed to Chrome Webstore.
I should also point out that Metamask support 4 browsers and these are:

  • Google Chrome
  • FireFox
  • Brave Browser
  • Microsoft Edge

So, make sure You're using one of them

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Another good measure to ensure that it is the real official extension is to check the number of installs, which is 9,000,000+ here_ clearly, it is the right one 😇

3 ِClick on "add to chrome" and wait till it completes and then click on the cute fox icon (MetaMask icon) on the top right.

4 You'll be directed to the setup page where the most important stuff is...
Click on "Get started" and then "Create wallet" (Assuming you don't have one)

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Here MetaMask prompts you to agree on allowing it to collect your data for "improvement purposes". You can choose whatever you like, but as a bit of a privacy hawk I'll recommend clicking on "No Thanks"
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And here is the most serious part...Your backup phrase, which contains 12 random words...
This is what you need to access your wallet or recover it if anything happens to your computer. Please make extra sure you save this key Off LINE in a safe place. If anyone happened to see these keys, you can't help but say bye-bye to your funds. After all, we all know how the golden rule of crypto goes "Not your keys, not your coins"...
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After writing your keys down, Metamask will ask you to put them back in the correct order. This move is meant to make sure you've saved your secret phrase correctly. It might be a bit irritating but better safe than sorry.
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MetaMask will send you this nice congratulatory message along with important instructions, most of which focus on saving your secret phrase in a safe place. You should also remember that MetaMask is NOT able to help in case you lost your secret phrase, simply because they don't store it on their servers or anywhere else. This should come as no surprise, though, because decentralized finance comes at a price- that we must take full responsibility for protecting our funds...

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Alright, in this guide, I've only skimmed the surface of Metamask and there is certainly much more to it than meets the eye. However, I think I will conclude my post here since it's getting a bit long, but I will certainly back to Metamask with further posts about how to engage with dapps, adding multiple tokens/networks along with Ethereum, and most importantly, a few tactics to save gas fees.
So, stay tuned if you're interested 😁

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