MetaMask is a browser-based Ethereum wallet extension that allows users to securely manage ETH, ERC-20 tokens, and interact with decentralized applications (DApps). This guide covers three essential functions: funding your wallet, making transfers, and swapping tokens.
Funding Your MetaMask Wallet
Option 1: Credit Card Purchase
- Process: Integrated with Wyre payment service, MetaMask enables direct ETH purchases via credit card (USD only).
- Note: Apple Pay is also supported for convenience.
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Option 2: Crypto Deposits
- Click "Deposit ETH" to view your wallet address/QR code.
- Transfer ETH from exchanges or other wallets using the ERC-20 network.
- Important: All transfers require gas fees (transaction costs).
ERC-20 Explained: A technical standard ensuring interoperability between Ethereum-based tokens.
Making Withdrawals/Transfers
- Paste recipient address (must be ERC-20 compatible).
- Enter transfer amount under "Send" tab.
- Confirm transaction and pay gas fees.
▲ Gas Fee Note: Fees vary based on network congestion. MetaMask auto-calculates costs but allows manual adjustments.
Gas Fee Breakdown:
| Component | Description |
|---|---|
| Gas Limit | Max units of gas (default: 21,000) |
| Gas Price | Cost per unit (Gwei) |
| Total Fee | Limit × Price |
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Token Swaps via MetaMask Swap
- Navigate to "Swap" tab.
- Select tokens (e.g., ETH to USDT).
- Set slippage tolerance (recommended: 1-3%).
- Review rates and confirm swap.
Slippage: Price variance between order placement and execution. Higher amounts may increase slippage.
FAQs
Q: Can I store non-ERC-20 tokens in MetaMask?
A: No, MetaMask only supports Ethereum-compatible tokens.
Q: Why did my swap fail?
A: Common causes include insufficient gas fees or exceeding slippage tolerance.
Q: How long do deposits take?
A: ERC-20 transfers typically complete within 5-30 minutes, depending on network traffic.
Q: Is Apple Pay safer than credit cards?
A: Both are secure, but Apple Pay adds biometric authentication.
Q: Can I cancel a pending transaction?
A: Yes, by speeding it up or replacing it with a new 0 ETH transfer to yourself.
Q: What exchanges work best with MetaMask?
A: Major platforms like Binance and Coinbase support ERC-20 withdrawals.
Always verify addresses before transferring and start with small test transactions!