How to use the Metamask wallet

by | Jan 8, 2023 | Crypto, Guides, Wallets | 0 comments

Meta Mask Crypto Wallet

Metamask wallet is gaining a lot more attention with the surge in Ethereum’s popularity. Numerous people are signing into this e-wallet for convenience and versatility. But many of them are unaware of its easier usage. This guide will tell you how to make your Metamask wallet usage easier. Learn the 6 easy methods to make your transaction simpler using Metamask. We will also give you some safety tips to use the wallet securely and effectively. You are probably using Metamask for a while. And sometimes, delayed transactions, unorganized currencies, and insecurities may make you tense. But now, learn how you can use the Metamask wallet properly. Let’s Go!

Metamask Wallet: Quick Preview

Metamask wallet is an Ethereum crypto wallet to hold ETH network tokens (Now also supports other chains like the Binance Smart Chain [BEP20], or Polygon [MATIC]) and is available as a browser extension or mobile application. People mostly integrate the plugin on their Chrome profiles and manage Ethereum transactions. The tool is extremely versatile, secure, and easy to use and install. To integrate Metamask in your browser, follow the steps below:

  1. Go to your browser’s extension page and type Metamask in the search box. Currently, Chrome, Firefox, Opera, Edge, and Brave are the only supported browsers. See all supported browsers here.

2. Install the extension and open it. You can add the MetaMask extension here.

3. You can either import your existing wallet or register for a new one. If you are creating a new one, follow the prompts and create a strong password. Otherwise, use your secret phrase to recover or import your wallet.

 

 

6 Ways to Properly Use a Metamask Wallet

1. Use a Secret Phrase

Although Metamask wallet has strong encryption to keep your data secure, it gets one step further with the security phrase. The extension enables you to generate a specific phrase that you can use to import your wallet data into another device.

If you have forgotten the current phrase, get it again from the extension’s Settings > Security & Privacy > Reveal Secret Phrase. By saving this combination of words, you can use your wallet on multiple devices without registering them separately. However, make sure you never share the phrase with someone else.

2. Pair it with Ethereum Gas Price Extension

Transaction speed on the Ethereum network is determined by how much you have paid the gas fees. While sending a payment, the wallet offers you three options: fastest, fast, and slow. However, you can enable the advanced gas settings and manually enter the amount for a more customized transaction fee. But how much is the right amount that will transfer ETH fast enough but doesn’t exceed your limit?

Here another plugin, named Ethereum Gas Price Extension, will help you. The extension analyzes the recent transactions over the network and shows an average gas fee. It is usually much lower than Metamask’s suggested price, so you can save a lot on transactions without compromising much on speed.

3. Access Metamask Wallet Anytime on Your Phone

The Metamask wallet is also available as an android application on Play Store. So, it will be best to download the app, too, rather than solely relying on the browser extension. Currently, syncing the wallet to your mobile device is temporarily disabled. Hence, you can only import the extension’s data to the application via a security phrase.

Downloading the app will enable you to access your wallet anytime, anywhere. Moreover, it allows you to set a different password on the app, as the wallet is accessible with the security phrase (also known as the seed phrase).

4. Understand Public & Private Keys

If you have been using Metamask for some time, it’s time to understand public and private keys. You might have noticed a certain alpha-numeric code at the top of your wallet’s dashboard (under Account 1). That code is your public key. You can share this code with others and receive transactions.

A private key, on the other hand, is a secret code which confirms the amount on that particular public key belongs to you. A transaction encrypted on a public key is only decrypted by the private key paired to it. So, others may see how much ETH a public key holds (if you’ve shared it) but cannot claim it since they don’t have the private key.

5. Create Multiple Accounts for Better Organization

You can also organize your e-wallet into multiple accounts for different aspects. Let’s say you need to keep your business transactions separate from your savings for NFT purchases. For this purpose, you can create multiple accounts by going to your avatar on the dashboard and clicking Create Account.

Each new account will have a different pair of public and private keys. You can also import an existing account using its private key. However, it is important to remember you cannot remove an account you created in the extension. In contrast, imported accounts are removable.

6. Speed up or Cancel Pending Slow Transactions

If you have initiated a transaction that takes so long, you can either speed it up or cancel it. To make the process faster, go to your Activity tab on the dashboard. Click on the Speed Up button of the pending transaction, and increase the Gas Price a little (merely some cents). The Ethereum Gas Price Extension can also help in setting a value.

The transaction slows down when your gas fee becomes comparatively low on the network. If you don’t want to spend extra money, you can cancel it anytime. Sometimes, it also becomes important as you cannot initiate a new transaction without finishing (or canceling) the previous one.

Security Tips to Use Metamask Wallet

Other than practicing the above techniques to use the Metamask wallet properly, you can also work on the following tips to further secure your account and the cryptocurrencies.

 

  • Rather than saving the secret phrase digitally, it is better to note it down in a secure place or memorize it thoroughly.
  • Never share your secret phrase, password, and private key with anyone.
  • Use your Metamask wallet on a dedicated browser, separate from the one with your Google accounts and social media logins.
  • Keep your Metamask wallet in an isolated tab, and always lock it.
  • Try to connect a hardware wallet as a backup.

Summary

The Metamask wallet can be quite a helpful extension to manage your ETH transactions when used properly. Secure your seed phrase and private key to import your wallet into multiple devices, and download the Metamask app for better accessibility. Get Ethereum Gas Price Extension to understand gas fee better while speeding up the process, or cancel it to start a new one.

In the end, make sure you also protect your wallet, account, passwords, private keys, and seed phrase by following precautionary measures. We hope the above steps and tips will help you improve Metamask usage and keep your wallet secure.

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