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First step in Web3: how to open a crypto wallet in Metamask

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The first step to accessing Web3 is opening a crypto wallet, and MetaMask is the key to accessing most Web3 applications. Just by installing the extension in your browser and configuring your crypto wallet you can start browsing the Web3 completely free of charge. In addition, MetaMask also offers the possibility to buy cryptocurrencies directly from its platform so that the experience in decentralized applications is complete. For example, if you want to attend an event or go through metaverses like Decentraland, all you need is to have the extension on your computer. However, if you want to buy clothes for your avatar or some land, you will need to buy the corresponding token. 

First step in Web3: open a crypto wallet

 

As we explain in detail in this article, installing MetaMask is easy. In short, go to the official MetaMask website: metamask.io . Select the button that says “Download”, choose the corresponding application depending on our browser (the browser we are using will automatically appear), and finally click on “Install”.

Once installed in our browser, a fox’s face will appear at the top right in the place of the extensions, we click on the fox’s face, and we can start configuring our MetaMask wallet. From here, a start tutorial will appear that indicates step by step what to do. The most important thing during this process is that you keep both the chosen password and the seed phrase safe. It is recommended that only we know the password and copy the seed phrase on a piece of paper and keep it in a safe place.

 

You can now enter the Apps

 

Once you finish the MetaMask configuration, you already have the access key to enter the decentralized applications. The extension will stay at the top right of your browser, and when you enter a decentralized application it will open automatically. In the event that it does not open automatically, it is most likely because you have not logged in to your MetaMask and you must enter the password.

One of the main advantages of MetaMask is that it offers the ability to interface with any blockchain that uses the Web3 standard, such as Polygon or BNB. Therefore, it is important to look at the network that we have selected in our portfolio. When you click on the extension, the name of the network we are on appears next to the fox’s face.

 

 

For example, if we enter a decentralized exchange like Uniswap, which operates on the Ethereum network, we must make sure that the “main ethereum network” is selected in our wallet. However, if we enter, for example, a decentralized exchange like Pancake Swap, which operates on the Binance Smart Chain, we must select this network. In the case of Pancake Swap and other applications, a warning will appear automatically that it is necessary to change the network and all you have to do is accept the change.

Example: Enter Decentraland

Continuing with the example from the beginning, only with our MetaMask wallet configured we can already enter the Decentraland metaverse, among others. We enter the web, select the start button and click on continue with a portfolio. Automatically, the MetaMask wallet tab should appear with the option to sign. This signature is completely free and can be done without having any money in our wallet. Once signed, we will enter the Decentraland metaverse.

If it is the first time we enter, it will ask us to create our avatar. Once created, there is no need to save a session or anything, since this avatar is saved in our portfolio. Therefore, the next time we enter our avatar will automatically appear with the characteristics we had selected. This process is very similar for the rest of the decentralized applications. Our MetaMask wallet is our key and identity on the Web3 . If we want to buy an NFT in OpenSea, we will enter with our wallet and automatically the purchased NFT will be saved forever.

 

Buy crypto on MetaMask

 

In order to start trading cryptocurrencies, we can do it directly from MetaMask without the need to first go through a centralized exchange, such as Coinbase or Binance. However, if we have cryptocurrencies in any of these exchanges, we can easily transfer them to MetaMask by copying the wallet address that appears at the top.

The process of buying cryptocurrencies through MetaMask is simple. For example, to buy ethereum, three buttons will appear under our balance: buy, send and redeem. We select buy and a tab will open that will ask us if we want to go to Wyre, a crypto payment platform. Once in Wyre, all you have to do is select which currency (euros, dollars etc) you want to convert to Ether, select the payment method (by card, apple pay or transfer), enter your data and process the payment. Once the process is done, in a matter of minutes the ethers that we have bought should appear in our MetaMask.

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