Metamask is probably the most popular crypto wallet when it comes to NFTs; you can use it to make transactions and acquire or sell all kinds of NFTs. It does so by interacting with different blockchains and connecting you to many different marketplaces and metaverse platforms in a few easy steps. If you have been looking into NFTs or already own a couple of them, you probably know about Metamask and how to use it; however, if you are ready to take the next step and own some unique digital files, stick around to know what is Metamask? what it can do for you, and how to set it up.
Metamask makes blockchain transactions easy by providing secure access to different NFT platforms and crypto trading sites. Metamask uses your private and public keys to authorize transactions between the different sites. But, what are private and public keys? To keep it simple, the public key is your wallet address which works similarly to a bank account number, and your private key is how Metamask proves that you are the owner of the wallet and that you can spend the coins or trade NFTs stored in the wallet. The private key should always be kept to yourself. Just so you know, a private key can be used to derive a public key so both keys are linked; however, a public key can not be used to derive a private key. This is called asymmetric encryption.
How do I set up my Metamask?
If you are still wondering exactly what is Metamask and how it works, you can do some testing of your own by generating a Metamask wallet in a few simple steps:
1 – The first step would be to navigate to the Metamask website and install the web browser extension.
3 – After creating your password, Metamask generates a secret backup phrase made of 12 randomly generated words. You should keep this backup phrase stored somewhere safely since anyone with the phrase can take full control of your account and your coins, NFTs, etc. A good idea is to store the phrase on a piece of paper or external drive, anything that is not connected to the internet and cannot be hacked.
4 – In the last step, Metamask asks you to input your secret phrase as a way to verify that you have copied and stored the phrase somewhere.
5 – All done! you have set up your Metamask crypto wallet.
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