Tutorial: How to set up and transfer money on MetaMask

What is MetaMask?

MetaMask is a non-custodial crypto wallet that interacts directly with the Ethereum blockchain. With your MetaMask wallet, you are in direct control of your private keys. Private keys are like a password, a string of letters and numbers that allow you to access and manage your crypto funds from your wallet.

Using a browser that has a MetaMask extension, you can interact with crypto applications on the internet. In this way, your MetaMask is like your single-sign on for Web3, allowing you to sign in to an app or website with your wallet.

You can set up your MetaMask wallet on your phone or your laptop, but in this guide I will be guiding you through how to set up MetaMask on your laptop.

How to set up your MetaMask wallet 

  • Download and install the MetaMask browser extension through their website.

  • Click on “Create a Wallet.” 

  • Create a username and password for MetaMask. 

  • At this point you will be given your Secret Recovery Phrase, a unique 12-word string that you will need to access your wallet. Do not lose this! 

  • You will be prompted to confirm your secret recovery phrase by placing it in the correct order that it was assigned to you.

  • Your MetaMask is now set up and should appear in your browser extensions.

How to transfer ETH into your Metamask wallet

  • First, you need to make sure you have ETH. Visit our tutorial on how to buy Ethereum (ETH) here

  • Click on the MetaMask wallet extension in your browser and copy your Ethereum Address. 

  • Note: Your Ethereum Address works in the same way that your bank account does. You can use it to buy and receive ETH or any other token on the Ethereum Blockchain. 

  • Go to your Coinbase wallet page and paste your Ethereum address into the “Recipient” section to send ETH to your MetaMask wallet. 

  • Click “Continue” and on the next page enter the verification code sent to your number to verify the transaction. After the transaction has been approved, you should see the requested amount of  ETH in your MetaMask wallet.
  • Your ETH should now appear in your MetaMask wallet. 

How to transfer ETH out of your MetaMask wallet

Note: I will be using the mobile version of Metamask for this section of the guide so that you are able to more easily follow along. But don’t worry, the process is the same on your laptop. 

  • Open your MetaMask wallet. Under the Assets tab, click the token you wish to send.
  • You will be asked to add a recipient, at this point you should paste the wallet address of the recipient you wish to send the token to. In the amount field, enter the amount of the token you want to send.
  • Note: Be sure to double-check the recipient’s wallet address before clicking “Next.”
  • Review the transaction details and click “Confirm” to send the tokens to the designated recipient. After this, you will be redirected to the main page where you can track your transaction.

**Congratulations you have set up your Metamask wallet and transferred a token! The keys are in your hands. 

Check out our Mirror Articles for more helpful guides.

You can also follow us on twitter to engage with all things Crypto and Web3.

See you DAOn the Rabbithole.

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