NFT Education Alert! Do you want to know how to set up an Ethereum wallet to buy an NFT or be prepared for whatever comes next with nft.gamestop.com? Come take a dive on setting up a MetaMask wallet.
Good afternoon r/Superstonk, Jellyfish here hoping everyone is having an awesome Friday afternoon! If you are curious how to set up an E t h e r u m wallet, this post is for you!
Setting up a Wallet
Personally, I use MetaMask in combination with a cold storage wallet. However, if you are first starting out, the expense for a cold storage wallet might not make sense. That's okay!
You can set up a MetaMask account that will give you an E t h e r u m address, you just wouldn't have the extra security factor (having to physically sign off on transactions with the cold wallet).
However, as long as you protect your MetaMask password and recovery key (seed) you should be just fine! Personally, I try to avoid typing my seed on any computer, as anyone who gains access to those words would be able to gain access to your wallet. Protect these like you would any other important documents (birth certificate, social security card, etc).
With that disclaimer out of the way, let's walk through setting up a wallet!
What is MetaMask?
MetaMask is an Ethereum Browser and Ether wallet that interacts with E t h e r e u m Dapps and Smart Contracts without the user having to run a full Ethereum node. MetaMask add-on can be installed on Chrome, Firefox, Edge, and Brave.
For this example, I am going to walk setting up MetaMask via Chrome. The steps for other browsers should be similar, but happy to help try and assist if you run into any issues!
First, open Chome and navigate to the Chrome extension page and select 'Add to Chrome':
https://chrome.google.com/webstore/detail/metamask/nkbihfbeogaeaoehlefnkodbefgpgknn?hl=en
After clicking 'Add to Chrome' you will be presented with:
Select 'Add extension'
Once installed, you should see:
Select 'Get Started'
Since we are setting up a wallet for the first time, we want to 'Create a Wallet'
Select 'I Agree'
Next, you will be prompted to create a password for your MetaMask account. Personally, I use a password manager and had it generate a nice long and complicated password. Whatever you do, please avoid Password123 of something easily guessed!:
Make it a strong password!
This next step is absolutely critical, please watch the video and be absolutely sure to protect your recovery phrase like it is stacks of money (because it is!). I would also avoid typing and saving it on a computer.
This video is well worth the watch
Back them up! Then click 'Next' to confirm you have it all correct.
Congratulations, you have now set up your wallet!
Now you can fund your wallet! If you mine, you could set your rewards to hit the address. If you are going to buy from an exchange (C o i n b a s e, B i n a n c e, K r a k e n, etc), you could send the purchased E T H to your newly set up wallet address!
