Your First Blockchain (ETH / ERC20) Wallet

Eric Tsang Dec 31, 2021
metamask-user-guide

Intro

In this tutorial, you will learn how to create, use, and safeguard your Metamask blockchain wallet.

Through this one-time setup, you would be able to manage cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and other Ethereum compatible (ERC20, ERC721) tokens. We will be using ETH in our examples.

By the end of the tutorial, you should have created for yourself a unique set of alphnumeric strings. They look like:

ETH Wallet Address: **0x3bBa70bcFD98C2a8718140497e88f51Fbf80E766**

Secret Phrase: easily teach theme bubble normal army level trade paper concert shock butter margin october candy neither rib frost recycle special blade exotic tennis

NOTE: These are examples only. Do NOT transfer any cryptocurrencies to the above address.

Your ETH wallet address can be shared with anyone. Like your physical home address, it basically tells others where others can send funds to you.

WARNING: Your Secret (Seed) Phrase is your only proof-of-ownership. You should NEVER, EVER share your seed phrase with ANYONE. Anyone with this seed phrase has complete control over your wallet and all of its funds. You do not need to share the Private Key to do transactions or receive NFTs.

It is important that you store your seed phrase in a safe place. The blockchain is a decentralized system, and if you forget or misplace your seed phrase, there is NOBODY who can ever retrieve your funds, or access your lost wallet.

NOTE: only send ETH and ETH-compatible tokens (ERC20, ERC721, ERC1155) to your Metamask wallet address. Each blockchain (ETH and others) have their own type of wallet addresses and are generally incompatible. This tutorial covers only on ETH. For transacting with other cryptocurrencies and blockchains, please consider our future tutorials.

Step 1: Install Metamask

Metamask is one of the most popular blockchain wallets. To connect to blockchain (web3) enabled websites and web apps, we need to first install a browser extension.

We can install Metamask on Google Chrome, Firefox, iOS, and Android. This tutorial will cover setting up on the Chrome browser.

On your Chrome browser, visit: https://metamask.io/download.html

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Click Install MetaMask for Chrome to visit the Chrome Web Store

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Click Add To Chrome to install

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Click Get Started to begin set up

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After installation, you may want to pin Metamask to have it easily visible on your browser (click on the puzzle icon, then click pin besides the Metamask icon)

You’ve now completed installation of Metamask and as ready to begin using it.

Step 2: Create a Metamask wallet and get your wallet address and secret seed phrase.

Click Get Started to begin set up

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Now click Create a Wallet

REMINDER: if you are not setting up for the first time (e.g. setting up on another computer), you can click “Import wallet” and use your seed phrase to use your existing wallet.

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Metamask will ask you to opt-in to an anonymous data collection program. Feel free to click No Thanks.

Note: This program will not in any way affect your usage of Metamask, nor will it compromise any security settings. For this tutorial, click No Thanks.

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Set up a Metamask password. This password is not part of the blockchain wallet, but it’s for your convenience to use when on a computer shared by other users. Losing this password would cause an inconvenience, as you would need to import your wallet using your secret seed phrase. Please take care to remember this password.

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(Optional) you are welcome to take time to watch the security best practice video. When you’re done, click Next Page.

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Metamask will create a Secret Recovery Phrase (Seed Phrase). Remember this is your ONLY WAY to: i) import your wallet and access your funds, and ii) recovery your wallet if you forget your password. If possible, take care to write the phrase on a paper and securely store it in a place where only you can access.

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Metamask will ask you to confirm the entire phrase in the correct order.

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Now, you’ve completed the Metamask setup!

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You can find your ETH blockchain wallet address under “Account 1”, in the partially hidden text in light gray. Simply click the copy icon to get the entire address. This address is the unique location on the blockchain that is owned by you, and can start receive cryptocurrencies and NFTs.

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Congratulations! You now have created: -

  1. Your Metamask Wallet (with an ETH address), and
  2. Your Secret Recovery Phrase (aka Seed Phrase)

Your Metamask wallet is ready to be used 🎉

blockchain wallet-13

Again,

Your ETH wallet address can be shared with anyone. Like your physical home address, it basically tells others where others can send funds to you.

WARNING: Your Secret (Seed) Phrase is your only proof-of-ownership. You should NEVER, EVER share your seed phrase with ANYONE. Anyone with this seed phrase has complete control over your wallet and all of its funds. You do not need to share the Private Key to do transactions or receive NFTs.

It is important that you store your seed phrase in a safe place. The blockchain is a decentralized system, and if you forget or misplace your seed phrase, there is NOBODY who can ever retrieve your funds, or access your lost wallet.

NOTE: only send ETH and ETH-compatible tokens (ERC20, ERC721, ERC1155) to your Metamask wallet address. Each blockchain (ETH and others) have their own type of wallet addresses and are generally incompatible. This tutorial covers only on ETH. For transacting with other cryptocurrencies and blockchains, please consider our future tutorials.

Step 3: Using your Metamask Wallet

Receiving Ethereum (ETH) or Ethereum-based NFTs

You can share the wallet address in your Metamask in order to receive ETH and ETH-based NFTs.

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See your NFT

You can use OpenSea.io to see NFTs you own and trade (buy/sell) NFTs on an open market. The website URL is:

https://opensea.io

Click on the Profile icon in the top right corner to connect to OpenSea.

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Click on Metamask

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Metamask will open up a notification window. Simply choose the Metamask account you previously set up. Then click Next.

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Click Connect

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You can now see all your NFTs in your Metamask Wallet on OpenSea.

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Newly received NFT might also be found in Hidden Tab.

螢幕截圖 2021-12-29 下午4.26.12

Congratulations! You have completed this tutorial and now know how to use Metamask and OpenSea.

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