In this article, BTAguru will show you how to connect your Metamask wallet to popular networks with just a few simple steps!
What Is Metamask
MetaMask is a cryptocurrency wallet available as a browser extension and mobile application that allows you to store tokens, connect with decentralized apps, and trade Ethereum.
MetaMask is the most popular blockchain wallet today, with over 30 million monthly active users, making MetaMask the world’s most extensively used non-custodial crypto wallet. The MetaMask browser plugin is essential for crypto players, developers, and blockchain novices. Its large community has over a million downloads and numerous resources contributing to the project.
MetaMask eliminates the need for users to enter private keys when creating, storing, or trading tokens by integrating them with MyEtherWallet.
A blockchain wallet, available as a digital or online wallet, allows users to store and manage their Bitcoin, Ether, and other cryptocurrencies. A blockchain wallet facilitates cryptocurrency transactions, protects crypto assets from theft, and enables users to change them back into their local currencies if necessary.
MetaMask is a browser extension that may function as your Ethereum wallet. Unlike traditional wallets, MetaMask does not require additional plugins, allowing you to use it in any browser.
Once installed, you may browse your Ethereum address and send and receive funds to any other Ethereum address. You can use MetaMask to stake coins on gambling websites, trade on DEXs, and participate in projects.
The MetaMask app is available for both desktop and mobile devices. On all supported browsers, the downloading process is substantially the same. Before you decide to utilize this instrument, understand its benefits and drawbacks.
How Does Metamask Work
MetaMask is mainly used for storage, swaps, and dApp access. These functions cover everything a typical cryptocurrency user would need to interact with Ethereum.
The built-in crypto wallet in MetaMask may be used to store tokens based on Ethereum’s ERC-20 and ERC-721 token standards, and users can quickly create and move between various wallet addresses within the app. The robust encryption technology in the program allows users to safely keep their wallet passwords and private keys within their browsers via a MetaMask extension, giving them more control over their public and private keys. Additionally, when new users register an account, they are given a collection of seed phrases that can be used to retrieve their account if necessary.
Token swaps: MetaMask includes a trade feature that allows you to perform peer-to-peer (P2P) token swaps right from your wallet. These swaps collect data from numerous DEXs, DEX aggregators, and automated market makers (AMMs) rather than transacting through an order book, exchange, or decentralized exchange (DEX) liquidity model. MetaMask swaps enable users to trade cryptocurrency directly without interacting with any custodial or intermediary platform, minimizing friction, slippage, and expenses.
Access to dApps: MetaMask users can also use the wallet to gain direct access to various Ethereum-based dApps, crypto financing products, Ethereum-powered games, NFTs, and other services. Furthermore, MetaMask’s built-in crypto wallet allows users to spend, send, or stake their cryptocurrency anywhere in the Ethereum ecosystem without handling different wallet integrations or excessive transactions. As a result, MetaMask offers customers a direct path into the world of DeFi and other blockchain-based businesses and services.
MetaMask was modified in 2020 to support interactions with Binance Smart Chain (BSC). Users can now freely swap between Ethereum and Binance crypto wallets, trade on DEXs from either network (but not concurrently), and access dApps from both ecosystems. While MetaMask was initially focused on Ethereum development, the move to provide access to other blockchain networks emphasizes the company’s primary goal of creating an interoperable and interconnected Web3 ecosystem.
Advantages and Disadvantages
Advantages
Simple setup: MetaMask has a simple setup method. Users can install the browser extension or app by following simple instructions, or they can import it using the 12-word seed phrase.
Earn rewards by staking and holding: MetaMask users can earn more tokens through airdrops and staking. Staking includes storing tokens in a vault for a set amount of time, allowing users to earn APY (annual percentage yield).
MetaMask supports a wide variety of Ethereum-based tokens: MetaMask supports a wide range of crypto assets produced on the Ethereum network. Popular tokens, including Ethereum (ETH), Tether (USDT), USD Coin (USDC), and others, are included, allowing users to manage and communicate with their favorite assets conveniently.
MetaMask provides a hub for decentralized applications (dApps), appealing to builders, NFT specialists, and Web 3 enthusiasts alike. Users of MetaMask receive access to a diverse set of dApps, allowing for smooth engagement and exploration of the decentralized ecosystem.
Disadvantages
No coin-to-fiat conversion: Because MetaMask is a decentralized wallet, it does not provide direct support for third-party remittance businesses, making it impossible to convert cryptocurrencies to fiat cash effortlessly.
Absence of live customer assistance 24/7: While MetaMask is suitable for most of its services, customer support is not one of its strong points. Given its technical nature, the lack of a 24-hour support system is a significant disadvantage, particularly for newcomers.
How To Add A Custom Network To Metamask
Step 1: Install Metamask wallet
To add networks to the Metamask wallet, you need to install Metamask wallet. Currently, Metamask is available on browsers, IOS and Android.
You can read how to install Metamask wallet by following the steps here: Link.
Step 2: Add networks to Metamask wallet
Option 1: Add a network manually
Once you’ve downloaded the Metamask wallet successfully, your wallet will have Ethereum as its default network. Follow these procedures to connect your Metamask wallet to the BNB Smart Chain network, Arbitrum, Polygon, etc.
Step 1: Open MetaMask in your browser and click on the Ethereum network.
Step 2: To connect each network, click the Add button of each network.
Here is an example of the Arbitrum and BNB Smart Chain with Metamask. After adding, the networks you choose will be added to the wallet.
On the other hand, you may manually add a network by selecting Add a network manually below and entering the necessary details:
BNB Smart Chain
- Enter the below information
- Network Name: BNB Smart Chain
- New RPC URL: https://bsc-dataseed.binance.org/
- ChainID: 56
- Symbol: BNB
- Block Explorer URL: https://bscscan.com
- Then select Save to add the network.
Arbitrum
- Enter the below information
- Network Name: Arbitrum One
- Unique RPC URL: https://arb1.arbitrum.io/rpc
- Chain ID: 42161
- Symbol: ETH
- Block Explorer URL: https://arbiscan.io/
- Then select Save to add the network.
Fantom
- Enter the below information
- Network name: Fantom
- New RPC URL: https://rpc.ftm.tools/
- Chain ID: 250
- Symbol: FTM
- Block Explorer URL: https://ftmscan.com
- Then select Save to add the network.
Polygon
- Enter the information
- Network Name: Polygon Network
- Unique RPC URL: https://rpc-mainnet.matic.network
- Chain ID: 137
- Symbol: MATIC
- Block Explorer URL: https://polygonscan.com/
- Then select Save to add the network.
Optimism
- Enter the information
- Network Name: Optimism Ethereum
- New RPC URL: https://mainnet.optimism.io/
- ChainID: 10
- Symbol: ETH
- Block Explorer URL: https://optimistic.etherscan.io/
- Then select Save to add the network.
With the remaining networks, you can do the same!
Option 2: Add network to Metamask using Chainlist
You can add networks to Metamask more quickly by using Chainlist when adding them.
Step 1: Go to Chainlist
- Access the link: https://chainlist.org —> select Connect Wallet.
- A list of several networks, including the mainnet and testnet, will be shown on Chainlist’s user interface.
Step 2: Select each network you want to add to your wallet
- In the Search Networks box, you select a network you want to add to your wallet. For example, here, we will add the Polygon Mainet network and search as Polygon -> then select Add to Metamask to add the Polygon Mainet to the networked wallet.
- With networks Arbitrum, Fantom, etc., do the same!
CONCLUDE
BTAguru has just instructed you to add networks to your Metamask wallet fastest. If you have any questions, please leave a comment below!
