Some questions about the MetaMask wallet.

Cryptomiles1

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Quote from: hack3rcon on April 19, 2021, 03:47:25 PM

Hello,
I installed the MetaMask wallet in my browser and created an account. On top of the page it showed me "Account 1", that I think that is my Ethereum address. At the bottom of the page, I have "Add Token" button. I clicked on it and paste the SHIBA INU address and after it, in the Assets section, a "SHIB" option appeared.
Now, I have some questions:

1- If I remove the MetaMask extension, then all of my cryptocurrencies removed or I can recover my account by the seed phrases?

2- To buy SHIBA INU, I must buy ETH and then swap it to the SHIBA INU?

3- If I add the Tether to my MetaMask wallet, then I can convert all of the tokens to the Tether and then send it to another wallet like Freewallet?

Thank you.

There are few things you need to understand about Metamask wallet.
if you download it as an extension, after the saving the phrase and passwords you need the private keys of the account "account one" then save it secretly.
then in the add section where you imported your SHIBA INU and it appears.
to me the only thing you need to do is to save the private key. with the key you can as well import the wallet trustedwallet app before you could make any transaction you need ETH gas to move out any token from the wallet or to swap token.

hack3rcon

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Quote from: Ceyflix-Rez on May 01, 2021, 12:43:52 PM

Quote from: hack3rcon on April 22, 2021, 11:57:57 AM

Thanks.
Swapping vs Exchange? In the Freewallet, I can see an Exchange option.

If you are still somehow using this so called freewallet pls think twice before it's too late, I've been robbed by then before and I lost all my coins, I used to own many dogecoin until freewallet took them all from me, make sure you stick with crypto wallets that gives you private keys to your funds or recovery seed

Excuse me, can you tell me more? For example, you had some Dogecoin and when you visited your wallet again, then all of them disappeared?

Ceyflix-Rez

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Quote from: hack3rcon on April 22, 2021, 11:57:57 AM

Thanks.
Swapping vs Exchange? In the Freewallet, I can see an Exchange option.

If you are still somehow using this so called freewallet pls think twice before it's too late, I've been robbed by then before and I lost all my coins, I used to own many dogecoin until freewallet took them all from me, make sure you stick with crypto wallets that gives you private keys to your funds or recovery seed

X-ray

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Quote from: hack3rcon on April 22, 2021, 11:57:57 AM

Thanks.
Swapping vs Exchange? In the Freewallet, I can see an Exchange option.

That means your wallet already supporter exchange function or there's an exchange site build in your wallet. Some wallets were also creating their own exchange site to make the users will be able to exchange their token on the wallet without tryna to send it to the somewhere like swapping your token.
If that has a good liquidity and im still prefer to exchange it consider about the fees will be less compared when you are swapping your coin.
You must make a comparison about how much it cost for the fees from both.

JeromeTash

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Quote from: Delight Media on April 24, 2021, 08:29:39 PM

You can also add other networks to it, like BSC and others, and keep their respective tokens in Metamask, too. Quite handy.

Not so many though, Binance Smart chain is a little similar to Ethereum network even with address formats used. I don't think once can add EOS or NEO network details in metamask, and it works flawlessly.

OP just avoid freewallet if you can. It's scam, and they will lock up your funds and ask for KYC

anu1908

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Quote from: hack3rcon on April 22, 2021, 11:57:57 AM

Swapping vs Exchange? In the Freewallet, I can see an Exchange option.

it usually refers to the same thing, but swapping cost extra fee (depending on the service that you use most of the time). make sure you double check though, since those services don't have a strict guideline on which terms to use.

metamask is not exclusively for ethereum per se. you can add other chains as long as it supports rpc and stuff like that, or similar to how eth works. for example, fantom, binance smart chain, and others.

WalkerIVIV

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1. You can recover with your seed but i see in some cases if the address that will be recovered was random.
2. You must buy ethereum and then send it to your metamask, after your ethereum already on your metamask and swap it into the shiba uni or you can try to buy that form the centralized exchange site as well.
3. You can convert all of your tokens to the tether as long as you have ethereum in your wallet. The main requirement is ethereum and it's not tether.

Delight Media

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Quote from: Commie on April 21, 2021, 03:16:19 AM

Quote from: hack3rcon on April 21, 2021, 02:00:58 AM

Thank you so much for all replies.
I use Freewallet because it supports many coins, but MetaMask wallet is just for the Ethereum tokens Sad

. Why MetaMask doesn't support other coins?

You can also add other networks to it, like BSC and others, and keep their respective tokens in Metamask, too. Quite handy.

hack3rcon

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Thanks.
Swapping vs Exchange? In the Freewallet, I can see an Exchange option.

nakamura12

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Yes, EOS can't be added on metamask as explained by maus0728. All tokens that can be added in metamask is tokens that are under ethereum network. Most of it are ERC20 tokens. You should visit an exchange if you want to buy shiba inu. It's either you trade your eth to shiba inu or swap if there is a site that supports shiba imu swapping.

Maus0728

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Quote from: hack3rcon on April 21, 2021, 04:22:44 AM

Can you add EOS in your MetaMask wallet?

You can't. As far as I know, EOS have now it's own blockchain network after they have launched their Main-net on the second quarter of 2018 which means it's a "coin" and is not operating under Ethereum Network in which Metamask supports.

You can use imtoken wallet instead.
[1] https://play.google.com/store/apps/details?id=im.token.app

BitMaxz

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Quote from: hack3rcon on April 21, 2021, 04:22:44 AM

Can you add EOS in your MetaMask wallet?

No, you can't able to add it because it's a coin, not a token.

Have you read the Metamask wiki about Metamask?

Quote from: https://en.wikipedia.org/wiki/MetaMask

MetaMask is a software cryptocurrency wallet used to interact with the Ethereum blockchain. It allows users to access their Ethereum wallet through a browser extension or mobile app, which can then be used to interact with decentralized applications.

So it means that Metamask is only made for Ethereum and any crypto that based on Electrum blockchain like ERC-20, ERC721, and their future plan to add ERC-1151 token.

hack3rcon

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Quote from: Commie on April 21, 2021, 03:16:19 AM

Quote from: hack3rcon on April 21, 2021, 02:00:58 AM

Thank you so much for all replies.
I use Freewallet because it supports many coins, but MetaMask wallet is just for the Ethereum tokens Sad

. Why MetaMask doesn't support other coins?

You can also add other networks to it, like BSC and others, and keep their respective tokens in Metamask, too. Quite handy.

Can you add EOS in your MetaMask wallet?

Commie

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Quote from: hack3rcon on April 21, 2021, 02:00:58 AM

Thank you so much for all replies.
I use Freewallet because it supports many coins, but MetaMask wallet is just for the Ethereum tokens Sad

. Why MetaMask doesn't support other coins?

You can also add other networks to it, like BSC and others, and keep their respective tokens in Metamask, too. Quite handy.

hack3rcon

member

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Merit: 10

Thank you so much for all replies.
I use Freewallet because it supports many coins, but MetaMask wallet is just for the Ethereum tokens Sad

. Why MetaMask doesn't support other coins?

pakhitheboss

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Quote

1- If I remove the MetaMask extension, then all of my cryptocurrencies removed or I can recover my account by the seed phrases?

Create a backup of your wallet first and then if you remove the extension from your browser you will still be able to get access to your wallet.
The next time when you reinstall the extension you will be asked to enter your backup phrases which you will be given when you create a backup of your wallet.

Quote

2- To buy SHIBA INU, I must buy ETH and then swap it to the SHIBA INU?

Yes, you will need ETH for doing any transaction on Metamask. Do check the gas price before going ahead with any transaction here https://ethgasstation.info/

Quote

3- If I add the Tether to my MetaMask wallet, then I can convert all of the tokens to the Tether and then send it to another wallet like Freewallet?

Tether is an Ethereum token you can add to your MetaMask wallet and you can surely swap it too. Please keep your tokens in Metamask rather than transferring it to any other wallet.

libert19

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Regarding 3rd point, it would be stupidity to move from metamask to freewallet as they are custodial and been many complaints against them in past. Just keep your metamask seed secure and never share it with anyone.

SquirrelJulietGarden

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Others gave you very good replies and I only warn you about swap (convert) USDT on ERC20 chain to ERC20 tokens and from ERC20 tokens to USDT. The swap fee is very expensive and you will get troubles if you swap with small amount.

You will have to pay more than $30 to $50 for one swap. That is terrible expensive.

The website Gasnow can help you to check gas price on ERC20 chain.

Swaps are related to ERC20 chain so three articles can give you more information.
When is the best time to send Ethereum transactions?
Ethereum: how to save even more on gas price with a weekly plan
Here are the best and worst times of the day to use Ethereum

Bitcoin_Arena

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Quote from: hack3rcon on April 19, 2021, 03:47:25 PM

1- If I remove the MetaMask extension, then all of my cryptocurrencies removed or I can recover my account by the seed phrases?

The seed phrases are the keys to your cryptos. So long as you have backed them up even if you delete metamask extension. You will be able to recover you account using the seed phrases.

Quote from: hack3rcon on April 19, 2021, 03:47:25 PM

3- If I add the Tether to my MetaMask wallet, then I can convert all of the tokens to the Tether and then send it to another wallet like Freewallet?

Absolutely, you can convert all your tokens to tether but make sure your wallet has enough Ether to cover the gas fees for swapping and transacting the transaction out of Metamask.

However, I would like to suggest to you that Metamask is far much better than Freewallet, because metamask can never block your account and ask you to verify KYC like freewallet. Freewallet is a scam wallet, and you should avoid it. Just google "Freewallet scam" and see the complaints.

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Quote from: hack3rcon on April 19, 2021, 03:47:25 PM

Hello,
I installed the MetaMask wallet in my browser and created an account. On top of the page it showed me "Account 1", that I think that is my Ethereum address. At the bottom of the page, I have "Add Token" button. I clicked on it and paste the SHIBA INU address and after it, in the Assets section, a "SHIB" option appeared.
Now, I have some questions:

1- If I remove the MetaMask extension, then all of my cryptocurrencies removed or I can recover my account by the seed phrases?

2- To buy SHIBA INU, I must buy ETH and then swap it to the SHIBA INU?

3- If I add the Tether to my MetaMask wallet, then I can convert all of the tokens to the Tether and then send it to another wallet like Freewallet?

Thank you.

1a - You are in wrong section ... move this topic into alt coin section of forum (find move link is at bottom left)

1 - Yes. Seed phrase is a full backup of your account (including all ETH and tokens you will ever receive in future)

2 - acc. to coingecko and cmc you can buy them using USDT or ETH. But you definitely need to buy ETH as you will be required to pay the swap fee (swap is just like regular ETH transaction)

3 - Yes, but as said above each single swap will require ETH transaction (paying fee).

FYI: USDT is transferable over multiple protocols (Ethereum - ERC20, Tron-TRC20, Binance chain-BEP2 and couple others)
Note you should always pay attention to which version you are sending where.
In your ETH address you will hold the ERC20 version and should be sending it only to ERC20 compatile address (ethereum address). Sending it to different one e.g. TRC20 will result in lost funds.
Most of wallets will check the address format you put in and warn you if something is wrong ... but still it's good to keep this in mind.

Topic: Some questions about the MetaMask wallet. (Read 313 times)