What is MetaMask?
MetaMask is a wallet for the crypto Ether, created in 2016 by the blockchain software company ConsenSys. Anyone can use it for free.
Ether is a crypto recorded on the Ethereum blockchain. If you know an address on the blockchain, you can see its balance, and if you know the private key, you can send funds from it. A wallet is a tool that manages addresses and private keys so you can do these things easily. MetaMask is an easy-to-use Ether wallet used by many people.
MetaMask comes in two versions: an extension for the Google Chrome browser that you can use on a computer, and an app that you can use on a smartphone.
How to set up MetaMask
MetaMask comes in two types, "desktop" and "mobile". This guide focuses on setting it up on desktop.
Setting up MetaMask takes the following five steps.
- Go to the official MetaMask website
- Select "Download"
- Select "Install MetaMask for Chrome"
- Click the "Add to Chrome" button and select "Add extension"
- Select "Get Started"
Let's look at each step in detail.
Step 1 | Go to the MetaMask website
Open the official MetaMask website.
Step 2 | Select "Download"
Open the official MetaMask website and select "Download" at the far right of the top of the home page, or "Download now" (outlined in red in the image below).
Step 3 | Select "Install MetaMask for Chrome"
After checking the supported devices on MetaMask, select the "Install MetaMask for Chrome" button.
Step 4 | Select "Add extension"
You will be taken from MetaMask to the Chrome Web Store.
Click the "Add to Chrome" button, then select "Add extension" to install it.
Step 5 | Select "Get Started"
Once MetaMask is installed, a fox icon will appear in your browser's list of extensions.
Select the "Get Started" button.
That completes the MetaMask setup.
After installation, a screen appears asking whether you want to create a new wallet or import an existing one.
When setting up for the first time you will be creating a new wallet, so select "Create a Wallet". After you set a password, your seed phrase (recovery seed) will be displayed. Write it down on paper or save it, for example as a screenshot, so you don't forget it.
If your seed phrase is stolen, your entire wallet can be stolen even if the computer where the wallet is installed is not. It is essential to never let anyone else see it.
As long as you have your seed phrase, you can restore your wallet even if the computer where MetaMask is installed breaks. Conversely, if you lose your seed phrase, you will never be able to restore your wallet, so be careful.
Sending Ether (ETH) to MetaMask
Once MetaMask is set up, send Ether (ETH) to it. You can buy Ether with yen on a Japanese exchange or elsewhere. After buying Ether on an exchange, check your MetaMask address using the steps below and send it from the exchange to MetaMask.
- Check that you are connected to Ethereum Mainnet
- Click the menu
- Click Account details
- Display your MetaMask address
- Withdraw from the exchange, specifying your MetaMask address as the withdrawal address
Withdrawing Ether (ETH) from MetaMask
Next, we explain the steps for sending Ether (ETH) from MetaMask to an exchange or elsewhere. The steps for withdrawing ETH from MetaMask are as follows.
- Select Send
- Enter the destination address
- Set the amount to send, the transaction fee and other details
- Review and send
Enter the required details, such as the destination address, the amount to send and the transaction fee, and select "Next".
The transaction details will be displayed; check them carefully for mistakes. If everything is correct, select "Confirm" and wait for the funds to be sent.
In MetaMask, the withdrawal does not happen immediately after you complete the sending process. The withdrawal speed depends on the amount of "transaction fee (Gas)" you pay. Paying more Gas means a higher fee, but faster processing (in the order slow, average, fast), so this is recommended if you want to withdraw quickly.
