How to Create a MetaMask Wallet

In this tutorial we’re going look at how to create your very own MetaMask wallet.

If you already have your MetaMask wallet set up great! You can simply skip this step. If not, we’ll take you through it now (it’s very straightforward).

Why do you need a MetaMask wallet?

You can use it for a number of different things.

1) You can use it to store any Ethereum you own (useful if you don’t want to keep it on an exchange).

2) You can use it to store any other Ethereum based tokens. By that we mean any crypto tokens built on the Ethereum blockchain. Examples would include Uniswap (UNI), The Graph (GRT), Sushi (SUSHI), Perpetual Protocol (PERP) and many others. You can see the full list here. Bitcoin is an example of a crypto that can’t be stored in a MetaMask wallet because it is on a completely different blockchain.

3) You can use it to interact with Layer 2 solutions (for example Arbitrum or Optimism).

4) It could position you for an AirDrop if MetaMask ever decide to launch a token. Of course there’s no guarantee they will… but if they do it could be a big one. They are a major player in the crypto space in terms of their userbase so it makes sense to setup a wallet even if you don’t plan to do anything with it.

It’s free and easy to do (and should take you less than a few minutes).

Note: You can set up as many MetaMask wallets as you want. Just ensure you keep your login details (including seed phrases) somewhere safe.

Step 1: Create Your MetaMask Wallet

The first thing you need to do is head here: MetaMask

When you click through you’ll be given an option to download a phone app version of MetaMask or the browser extension version. You can choose either or both, whichever suits you.

(In case you’re wondering, the browser extension version installs MetaMask on your web browser as a button. They are versions for Chrome, Firefox, Brave and Edge).

To keep things simple, the instructions you see below are based on using the browser extension version.

After you’ve finished installing MetaMask, follow the instructions to create your account.

When prompted, make sure you write down your password and seed phrase. It’s REALLY important you don’t lose this or share it with anyone else. If you do you’re effectively handing control to someone else, so please be careful.

Once that’s done you’re all set!

At this point you have successfully created your MetaMask wallet.

If you want to you can simply stop here. There is a chance that if in the future MetaMask decide to launch their own token you will be rewarded with an AirDrop just for owning a wallet.

However, if you want to increase your chance of getting an AirDrop you may want to start actively using your wallet…

One way to do this is to send some Ethereum to your MetaMask wallet (you can choose to send any Ethereum based token if you prefer but for most people starting out they will have some Ethereum).

This opens up a range of different ways you can interact with various Layer 2 solutions.

Here’s how you can do that:

Step 2 [Optional]: Send Some Ethereum to Your Wallet

You are now going to send Ethereum to your MetaMask wallet in exactly the same way as if you were sending Ethereum between exchanges.

First go to the exchange where you have your Ethereum (whether that’s Binance, Kraken, Coinbase or whichever your preferred exchange is).

For the purpose of this demonstration I will use Binance, but the instructions will be similar on most exchanges.

1. Login to your Binance account (or whichever exchange you have your Ethereum in)
2. Go to the deposit and withdrawals page (we are looking to do a withdrawal here)

This is how you access it on Binance as you can see in the screenshot below:

Now you need to search for Ethereum and click on the ‘Withdraw’ link when it pops up as demonstrated in the screenshot below.

As you start typing ‘eth’ in the search area it will auto populate the results. We are after ETH (Ethereum), which is the top result with the blue icon.

Now click on the ‘Withdraw’ link on the right hand side of it.

You now need the address of your MetaMask wallet so that you know where to send the Ethereum to.

(Keep the other window or tab handy, we’re going to need it in just a second).

To locate your MetaMask wallet open up MetaMask.

You can do this by locating the little fox icon in your browser (see the screenshot below). In Chrome it is typically on the top right hand side.

When you click the icon a popup will appear. This is your MetaMask wallet.

Your MetaMask wallet address is the number under your account. I’ve blurred mine out but you can see where the arrow is pointed in the screenshot. Now hover over your address until it gives you the option to ‘Copy to clipboard’.

Click and it will copy the address for you.

Now head back over to Binance and your withdrawals page.

What you need to do now as pictured in the screenshot below is:

1. Paste your MetaMask address in the space provided (where it says Recipient’s ETH Address). Double check it has pasted the correct address in by cross referencing it with your MetaMask wallet (see previous screenshot)
2. For the Transfer Network choose Ethereum (ETH)
3. Now enter the amount of Ethereum you want to send in the space provided. Make sure you have enough for both how much you want to trade and your gas (trading fees)
4. After you have checked everything looks ok and you are happy with the transfer fees (as shown) hit the ‘Submit’ button

Now you just have to wait for your Ethereum to arrive in your MetaMask wallet.

You might need to be patient as this can take anywhere from a few minutes to a few hours. Typically I’ve found it arrives in around 15 – 20 minutes.

You can check whether it has arrived by clicking on your MetaMask wallet (the fox icon). It’ll show up in your balance once it has arrived.

Well done! If you followed this to the end you now have a MetaMask wallet setup and loaded with some Ethereum.

Want to Increase Your AirDrop Chances Further?

Setting up a MetaMask wallet and sending some crypto to it (such as Ethereum) gives you a strong chance of positioning yourself for an AirDrop, should one come.

However, remember we can never know exactly what the parameters for an AirDrop in each individual scenario will be.

You could increase your chances even further by doing a ‘Swap’ within MetaMask if you want to log another activity using the platform. This is easy to do and you just need to click ‘Swap’ as pictured below and follow the instructions.

There are pros and cons to this. The upside is that it increases your chances if we do get an AirDrop. The downside is obviously that there are no guarantees and it may cost you in gas fees. That can often be the trade off in AirDrop hunting.

That’s it for this tutorial!

Staking your crypto on Kraken is one of THE easiest methods out there.

(As you’ll see it only takes a minute or two!)

There are a few different ways you can stake on their platform – as they make their staking option available on most pages – but all offer the same outcome.

What follows is the simplest step-by-step approach.

You can see all of the different coins you can stake in one place and they display all the risks and rewards in one easy to read table:

Step 1: Login to Kraken

You can do that here:

www.kraken.com

Step 2: Head over to the staking page

Now head over to Kraken’s dedicated staking page here:

Kraken’s Staking Page
(You need to be logged in)

Here is what you’ll see on this page:

It’s worth taking the time to read all the text they provide on the page (always check the latest live version) as it runs through the rewards and risks involved.

On the left hand side you can see the name of the cryptocurrencies that Kraken currently offer staking on.

To the right of this is the estimated earnings reward as a % and this is calculated as APR (or an annualised rate).

Bear in mind that these annualised rates are just a guide. The rate for many of these coins will be variable and as such liable to change.

Step 3: Check over the terms and place your stake

Now it is simply a case of clicking on the little staking icon next to the coin you wish to stake (as pictured below).

A little pop-up screen will appear which confirms your estimated reward payout, intervals and so on.

Make sure you read, understand and are happy with everything on this screen before proceeding.

If you are happy to proceed you just need to enter the number of coins you wish to lock into staking in the box at the top (it can be a decimal if you like, e.g. 0.5) then click ‘Continue’.

Please note: I’ve just used Ethereum as an example here and you may well get better rates elsewhere (and/or the option of not being locked in for such a long period). If you are thinking of staking your Ethereum please wait until the end of our series on staking so that you have access to all the information.

Step 4: Last step!

At the time of writing there is one last popup screen just ensuring that you understand the terms and are happy to proceed.

Please bear in mind that the information displayed here will vary according to which coin you wish to stake.

If you are happy with everything, type ‘I accept’ into the box as instructed and then click ‘Confirm’ and that’s it!

Step 5: Check back to monitor your rewards

If you want to check back to see how your staking is going (and monitor your rewards) you can do so simply by clicking back on the staking page at any time:

Kraken’s Staking Page 

From here you can also choose to ‘Unstake’ any coins where available.

Please note: For some coins, like Ethereum, ‘Unstaking’ won’t be possible until the transition to ETH 2.0 has completed. While this transition is proceeding well there is no fixed date as to when this might complete (or indeed guarantee that it will do so).

That’s why it’s important to properly read through the terms and make sure you are happy with the risks involved. Other coins may offer more flexible staking programmes.

That’s it!

Kraken is one of the oldest exchanges and has a great track record. In terms of ease and stability they are a strong option for staking, particularly for long term holders.