However, Ethereum, a gigantic decentralized ecosystem, is for the masses. And MetaMask is a free, open-source, hot wallet to get you rolling with Ethereum. And MetaMask is a wallet for the most diverse blockchain in existence–Ethereum. It’s your gateway to its DeFi ecosystem, non-fungible tokens , ERC-20 tokens, and practically–everything Ethereum.
Afterward, you’ll see the congratulations screen. And finally, you can have your MetaMask mobile user dashboard. So we’re left with importing the wallet with the 12-word secret recovery phrase. So, in case you switch browsers or machines, you can restore your MetaMask wallet with your secret recovery phrase.
At the time of writing the article, MoonPay’s minimum ETH purchase is .011 ETH, or $33.34 — so roughly comparable. Both offer credit/debit card payments in over 100 countries, however specific countries and currencies will vary because of licensing. The second two options, Transak and Moon Pay, offer similar functionality — but with a few key differences. Let’s take a look at the process, specifically noting the differences between Transak and Moonpay. With a funded MetaMask wallet, you’re ready to explore Web3 on your own terms.
If you can’t keep a dedicated MetaMask browser, don’t use social media or Google accounts on the browser alongside MetaMask. This function will import an account and not the entire wallet. And since the wallet is not native to MetaMask, you’ll need to import it for every instance separately.
MetaMask will never share your public address with a website unless you give it permission. This means you are always browsing privately and control the data you share with an application. It also makes it easy to browse between different applications without creating a new account each time. Notably, each account will have its own pair of public-private keys. But your secret recovery phase is the master key to all of your accounts.
A private key holder can transfer the account (and/or funds) from a wallet to any other wallet of their choice. Now it’s time to save the secret recovery phrase. You can uncover the secret phrase and download it as a text file. �� Create a new account if you plan on posting it on Twitter for possible Airdrops.
You will need to create a new MetaMask Wallet, and then send your digital assets to that vault as soon as possible. MetaMask is one of the most popular Ethereum wallets that enables users to make transactions on ETH-based dApps, metaverse games, and DeFi protocols. It comes in the form of a browser extension that you can access when connected to the internet. Users can store Ether and other ERC-20 tokens, as well as receive and send their ETH to others. Once you register with Transak, you can add to or top off your MetaMask wallet as often as you like.
Choosing a slower transaction cuts down on gas fees. The lower the fee, the longer your transaction will take to process by miners. ⚠️ You will be charged a gas fee to send tokens, so be sure to have extra ETH in your account. The cost of gas is variable depending on the usage of the Ethereum network. You can check Etherscan’s Gas Station to see the average price, which is now 145 Gwei, or about $15.48. The minimum purchase amount when buying ETH with Apple Pay is $50 on MetaMask.
Download MetaMask and start buying crypto
MetaMask lets you swap Ether and ERC-20 tokens with each other. Afterward, you can enter the amount to send and click Next. This option is sitting below the View Account on Etherscan. Expand View will open your wallet in a new tab, keeping it open until you close it. It’s a relief from the pop-up which closes whenever you switch tabs or minimize your browser. If you want a full-screen MetaMask dashboard instead of the pop-up.
You need the public key of the receiver to use this function. For sending, click the Send on the user dashboard and enter the public key of the recipient. In brief, the public key is for receiving funds. But you’ll be needing your private key if you want to access those.
Transak vs. MoonPay compliance
Wyre supports credit/debit cards along with Apple pay. These options levy a 3% transaction fee in addition to putting a cap of USD 500 on weekly transactions. A private key is your proof that the funds in a wallet are actually yours.
You may purchase ETH with Apple Pay , a credit card, or a bank transfer. MetaMask Mobile uses Transak to convert fiat currency into ETH, so you might have different restrictions depending on where you live. You can check out the countries Transak supports here. �� You won’t be able to buy Bitcoin through MetaMask, as MetaMask is an Ethereum Wallet that hosts strictly ERC-20 assets. To hold BTC and ERC-20 coins together, try out a multi-chain wallet like Liquality. Learn how to use MetaMask Mobile’s built-in browser, buy ETH, and send and receive tokens anywhere in the world.
This is perhaps a leak, or what’s known as “slippage” — aka when the transaction price differs from the market value. Our providers also support a wide selection of alternative local payment methods. Well, investing in crypto is not just the only option that you have. Know about the best crypto affiliate marketing programs to start earning money.
Step 13: Payment method
Assets on the test networks aren’t worth a penny. These test networks are used for developer testing before launching their products on the Main Ethereum network. You can check this transaction on Etherscan as well. You can add multiple accounts to your MetaMask wallet. For instance, one can have an NFT account and a business account individually on MetaMask.
Block space is limited, while demand fluctuates. In periods where many users want to get their transaction mined, the demand will surpass the block space supply. Once a transaction is signed by your wallet keys’ it’s sent off to the transaction pool where miners pick it up, put it in a block, and try to validate it ASAP. When the transaction pool is brimming full of transactions, miners naturally prioritize transactions with higher fees—money talks.
So you got your wallet on one of the mightiest of blockchains. So, the best thing would be to use a password manager or use the same password for MetaMask on every platform. It further proves that MetaMask is a non-custodial wallet. That everything is stored on your local device—no cloud storage and syncing. Now click Advanced in the Settings, and finally, select Sync with mobile.
From this page, tap the hamburger menu icon on the screen’s left-hand side and click on Browser. MetaMask Mobile contains a powerful browser like the ones you use every day, except this one can also access decentralized applications . Type in the name of the website that you want to visit in the search bar. It’s strongly recommended to keep your private key in a physical form rather than as a text file in your Google Drive or anywhere online. Keeping it online will only add to the security risks of an already vulnerable hot wallet.