Our previous post discussed the differences between hot and cold wallets. This time, let’s learn how to create a hot wallet via MetaMask.

→ What’s MetaMask?

MetaMask is a free-to-use browser extension and app that enables users to interact with the Ethereum blockchain. MetaMask is one of the leading wallets that allows its users to store, buy, sell, and manage different cryptocurrencies and NFTs.

MetaMask was built by ConsenSys in 2016. ConsenSys is a blockchain software technology company created by Joseph Lubin. Check out The Generalist article to learn more about the fascinating story of MetaMask and how it all started.

→ Why Do You Need a MetaMask Wallet?

You’ll want to create a MetaMask wallet to safely store your digital assets and easily transact cryptocurrencies or NFTs with other people.

When creating a MetaMask wallet, you´ll generate:

• Public keys: You can use the public key to exchange funds or send cryptocurrencies/NFTs into a wallet. Think about your public key as if it’s your email address. You have to share it with the rest to receive emails. To receive digital assets, you have to share your public key with the rest, ensuring they’ll know where to send cryptocurrencies or NFTs.
• Private keys: On the other hand, your private key works the same as your email password. Similar to your password, you can’t share it with anyone else, as you’ll use it to log in and access your wallet.
  

→ Create Your MetaMask Wallet Today

Next, we’ll show you how to download, install, and set up your MetaMask wallet.

>> Step 1. Go to the MetaMask website. MetaMask supports browsers such as:

• Google Chrome
• Firefox
• Brave
• Edge

Unfortunately, MetaMusk doesn’t support Safari (yet).

However, MetaMask offers both an iPhone and Android app.

Next, we’ll be creating a MetaMask wallet via Google Chrome.

>> Step 2. Open and download MetaMask via Google Chrome. Add MetaMask as an extension to your browser.

>> Step 3. Once you’ve installed MetaMask, you’ll see the option to import an existing wallet or set up a new MetaMask wallet.

>> Step 4. Once you click Create a Wallet, you must create a password.

This is a MetaMask password. Note that this isn’t the recovery phase or the private keys for accessing your wallet. This is a secondary MetaMask password you can use.

>> Step 5. Once you’ve created your MetaMask password, you’ll be taken to the security phrase screen.

This is the recovery phrase for your wallet.

The MetaMask video indicates that your secret recovery phrase is your “master key.” It’s a series of 12 words generated when you first set up MetaMask. This recovery phrase will allow you to recover your wallet and funds if you ever lose access. You must secure your wallet by keeping your secret recovery phrase very safe.

Anyone who gets access to it will have the “master key” to your wallet and can freely access and take all of your funds. Make sure to save your secret recovery phrase safely.

For example, you can write it down and put it somewhere safe. Or, you can use a secure password manager. Nobody, not even the team at MetaMask, can help you recover your wallet if you lose your secret recovery phrase.

>> Step 6. You’ll have to confirm the recovery phrase on the next screen so MetaMask knows that you wrote it down properly.

>> Step 7. Next, you’ll be asked to introduce the recovery phrase.

Once that has been input, it will let you into MetaMask.

In the Account details, you can see the Public Keys you can subsequently share with others.

In the next post, we’ll show you how the MetaMask wallet works.