MetaMask is a very well-known and popular crypto wallet that supports Ethereum-based tokens (tokens according to the ERC-20 standard). It is a software-based wallet, which can also act as a mobile app or as an extension for the Google Chrome and Firefox browsers. MetaMask can not only serve as a regular wallet but can also connect to smart contracts and decentralized applications around the Ethereum network, such as the Polygon network.

MetaMask has existed since 2016 and was founded by ConsenSys. It has been available as a mobile app since September 2020 and shortly thereafter in October, the application passed the milestone of 1 million monthly users. August 2021 there were already 10 million active monthly users for MetaMask. MetaMask uses JavaScript as the programming language. The wallet's famous logo depicts a fox's head.

MetaMask is a so-called "hot wallet". It can be used with any internet-connected device. This makes it less secure than a cold wallet such as Ledger, but a single individual user can very well use it for short- to medium-term cryptocurrency deposits. 

If you now want to set up the MetaMask as an Ethereum wallet, this is relatively easy. MetaMask is kept user-friendly so the application is particularly easy and quick to manage in everyday life. In the following, we will show you how you can set up MetaMask for yourself. 

The easiest way to use MetaMask as an Ethereum wallet is to use it as a browser extension for your own web browser. The MetaMask browser plugin is specially designed for the Google Chrome browser. However, it can also be installed on the following browsers:

• Google Chrome
• Mozilla Firefox
• Brave
• Microsoft Edge

First, you download the plugin from MetaMask 's page. Here you click on "Download" and you can then select the respective plugin for Chrome, iOS, and Android.

You can then add a new wallet. In the following window, you will be asked whether you already have a weed key or want to add a new wallet. Choose the second option.

Now you have to set a password for your MetaMask wallet. Enter the password twice and confirm your new password.

After that, MetaMask will show you a secret backup key. In MetaMask, this is a sequence of 12 words that you have to remember in this order. Keep this key safe to restore MetaMask as your Ethereum wallet if necessary.

This is followed by another check to see whether you have written down your backup key. You will also receive storage tips. 

If you have now completed these steps, you will see the main menu of MetaMask with the balance of your Ethereum wallet.

Now you can top up your Ethereum Wallet at MetaMask with Ether Tokens. There are various possibilities for that:

• Send Ether to MetaMask Ethereum Wallet: If you already own Ether, you can send it to your MetaMask Ethereum Wallet. To do this, you must copy the address of your wallet. On the following picture you can see where you can copy the address of your MetaMask wallet. Then you enter this address as the destination address when transferring from your other wallet.

• Buy Ether with Payment Provider: If you don't already own Ether, you can buy it with two payment processors: Wyre and Transak. Both accept credit card payments. Transak also offers bank transfers. To do this, go to “Buy” at MetaMask and then select one of the providers. 

If you want to send ether, go to the "Send" function in your MetaMask Ethereum wallet! Then you enter the destination address. Then you select Ethereum as the token and set the amount before confirming.

If you want to do a token swap, go to the third option Swap. There you select the swap partner for your ether tokens and your amount of ether for the swap. Below that you can set Slippage Tolerance. This is the percentage of a price change that must be exceeded for your swap to be canceled before execution. 

Yes, you can connect your MetaMask to numerous websites such as Axie Infinity. The MetaMask application usually reports itself when you have logged on to the corresponding application. Here at Cryptoticker, we offer specific instructions for various applications. 

You can purchase Ethereum for your MetaMask wallet on crypto exchanges  Coinbase  and  Kraken  .

We are certain that you have heard of front running. Generally, it means that a programmed bot saw your transaction in the mempool (where transactions are stored before the final settlement and addition into blocks), executed it first before you (think high gas!) and put you at a disadvantage. But, what if you could skip the mempool entirely and relay your transaction directly to the miners, so there was no chance of that happening? Enter Flashbots Protect RPC.

Alchemist has announced a revolutionary new product Flashbots Protect RPC to protect against front running and the best part is that setting it up is really simple and takes no more than 5 minutes! The users enjoy the added advantage of not paying for failed transactions and priority processing in blocks, where they are included. For setting up MetaMask plus Ledger for the safest crypto setup, you can see the below available guide.

Otherwise, just open MetaMask and enter the following custom RPC. Then, save and choose the Flashbots Protect RPC from the network list.

Network Name: Flashbots Protect RPC
New RPC URL: https://rpc.flashbots.net
ChainID: 1
Currency Symbol: ETH

Assume that you are planning to buy a certain asset on Uniswap. Since you are feeling FOMO, you increase the slippage limit. So even if the price of the asset goes up in the meantime, you wouldn’t be left with a reverted or failed transaction. When your tx is sent to the mempool, a generalized front running bot notices it. It then decides to extract the value for itself (or its owner by proxy). Later, the bot sends the same transaction with a higher gas fee, buys the asset, inflates its price, and sells back the asset to you. This is just one basic example.