This article is the starting point of the Satochip Metamask series which will show you how to use the Metamask extension as well as the Satochip hardware wallet. Today, you will learn how to create an Ethereum software wallet in 5 easy and funny steps.
Table of content
The Metamask client is a web browser extension available on Chrome, Firefox, Brave and Edge. It offers a bridge between Ethereum blockchain (and other ERC-20 tokens) and your web browser. It’s the perfect tool to manage your NFTs or interact with DeFi services (Decentalised Finance), smart contracts, and other dApps (Decentralised Applications).
With an intuitive interface, Metamask offers a simple yet easy to use interface for the best user experience with the so-called “Web3”, or the “Decentralised Web” 🆒.
In this article, we will explain how to use the Metamask extension to create and use a simple Ethereum wallet. The private keys will be stored on your personal computer within the browser data store.
❗️ Disclaimer ❗️ : private keys are needed to get acces to your wallet thus your Ether ($ETH). If you store your private keys on your personal computer, you have to be sure it is not compromised by a malware, a virus or something else…
Step 1 — Download and install Metamask
The Metamask extension is available on any operating system that can runs the following web browsers : Chrome, Firefox, Brave or Edge.
You can download the lastest version from the official Metamask website : https://metamask.io/download.html. If you want you can also run it from the official sources : https://github.com/MetaMask/metamask-extension/releases
Installation process is really easy. Just click on “Add to [your web browser]” to add the extension to your favorite web browser… And you’re done.
Step 2— Create your software wallet
The very first time you open the Metamask extension, you will have to create a software wallet. A so-called software wallet is a crypto-currency wallet which stores private keys locally on your computer.
In order to create your first software wallet, either you can import an existing seed, also called “Secret Recovery Phase” or create a new one.
Let’s create a new seed — a new Secret Recovery Phrase — by clicking “Create a Wallet”.
Metamask will ask you if you want to share some datas with the Metamask team to improve the usability and user experience of the product and the Ethereum ecosystem. It’s up to you to click on “I Agree” but as a newcomer, let just check “Not Thanks”.
Step 3— Set up a strong password
To secure the access of your software wallet, you must provide a strong password. Metamask won’t let you write a password with less than 8 chars but we strongly encourage you to setup a longer one.
Here are some example of good and strong password :
Step 4 — Generate your Secret Backup Phrase
The Secret Backup Phrase is — in fact — the seed phrase. This is you very own and secret seed (or mnemotechnic passphrase). This is the only time the seed is shown to you ! Carefully write it down and store it in a safe place ! Along with the password previously setted up, the seed is the only thing you need in order to retrieve your wallet.
❗️ Disclaimer ❗️ : The seed is a mnemotechnic passphrase that will allow you to use your wallet, spend and retreive your funds. If you loose this phrase, you may loose your assets !
Step 5— Confirm your Secret Backup Phrase
As said previously, the seed or Secret Backup Phrase is shown once in your life and Metamask will ask you to confirm it to be sure you have write it down.
Congratulations, you have now a fully functionnal and ready to use Metamask software wallet. It will allow you to interract with the Ethereum blockchain and the Web3 applications such UniSwap, Rarible, OpenSea…
As you can see, Metamask is really easy to setup and can be resume as :
- A password that will allow you to open your software wallet
- A seedphrase that is the true ownership of your cryptocurrencies
Unfortunately the security of such wallet is strongly tied to your computer/network security. In the next article, we will show you how to improve the global security by using a hardware wallet with Metamask.
More information about Metamask
Metamask provide a very helpful documentation where you can learn more about this incredible extension ! The official Metamask knowledge base is the one stop shop to know more about Metamask, the custom tokens, seeds, how to use it and so on.
More information about Satochip
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