Creating a MetaMask Wallet and buying Crypto and NFT’s (Part 1)
So we talked about why you might want an NFT in our last article that you probably already read; “what is an NFT and Why do I want it”
And what do you know, a few days later and you’re already here looking to buy. Like I said last time, art is only one of the many many types of NFT available, and is often combined with forms of utility such as operating as a key, or operating as something Justin Bieber will buy regardless of the price.
But no matter the cryptocurrency or type of NFT you want to buy, this article will help you navigate the process, of which the most important parts are actually using “old fashioned technology” to protect you in case of a mistake made with the “new technology”.
The majority of NFT marketplaces, at this point in time and for the purposes of this article and the upcoming release of Tiger Troops, are built on the Ethereum network.
On your computer it is available from MetaMask.io . ALWAYS ensure it is Metamask.io, the official webpage, you download from. Do not search for it in Google, go directly to https://metamask.io/download
Once downloaded to your computer or phone, you will select to “Create new wallet” as well as setup a password (I strongly recommend using the password manager 1Password (App/Android Store and linked prior) to keep track of ALL passwords. It will also generate incredibly secure passwords for you. *This is not a paid ad, this is a free endorsement.
Also, write the password down on paper. Now do it again….and now, maybe one more. And hide those in secure locations. Because anything can happen.
Now the important part
After setting your password, do NOT click “remind me later”… Reveal your secret words (also known as seed phrase or secret backup phrase) and write them down right away…. At least twice.
MetaMask is your first experience with Web3, and while easy to navigate, there is the one crucial difference….
Web3.0 is decentralized, meaning there is no central server to send you a security question like; “who was favorite parent as a child” and let you reset your password.
Never Forget: Part 1
Nobody else has your password, or the ability to reset it
Instead of the web2 password reset function, the Seed Phrase/Secret Backup Phrase is your “get out of jail free card” in the event of a lost password (did you download 1Password?) and you can write it down as many times as you want ( I suggest as many as you physically can) and store them in secure places .
At least 2 picture frames in your house should have this list of words written on it, as well as the inside of your dog’s crate, and backwards on any wall with a private mirror facing it. That may be extreme, but we only want you to be careful.
Never Forget: Part 2
Do not ever share your seed phrase with ANYONE
Nobody with good intentions will ever ask for it, even if they “say” they work for MetaMask, the local church, or the government. They do not. Nobody needs your password or seed phrase unless they are stealing your account.
Never Forget: Part 1 & 2 combined
Nobody with good intentions will ever ask for your password or seed phrase
Please, remember this always, because if you lose your password and seed phrase, you cannot regain access to your account. No matter how much is inside.
From here, MetaMask allows you to easily purchase Ethereum for buying NFT’s being released like Tiger Troop (Release date announcement coming shortly on Discord!) using ApplePay on your iPhone or Mac, as well as debit card/wire transfer options.
A few minutes following purchase, the crypto will be in your wallet and ready to either:
- Send to a friend/relative/bad-date who wants to split the check and you just don’t want to see again…
- Use the Metamask browser to head to your favorite NFT Exchange like Opensea or rarible
Or even just hold your cryptocurrency for awhile and let the price fluctuate, but hopefully increase.
Just remember, that it is your responsibility to keep your password secure, as well as your seed phrase. Have a written backup of each stored in a safe place, but not the same safe place.
I will not even give you the exact number of bitcoin “out of circulation” forever because of lost passwords, two factor authentication codes, wiped hard drives, and even ledger-nano’s being lost along with their backup words.
Just leave Part 1 knowing this; in web3 and Metamask, the responsibility for security is solely on you.
The one thing that can and will need to be shared to receive crypto, NFT’s, or whitelist spots being given to you, is your PUBLIC address. This is the equivalent of your crypto mailing address.
The arrow shown above is where you will click to copy your public address, and send/text/airdrop to whomever is sending you cryptocurrency.
This is the only address you will ever share with anyone, EVER. It’s 42 random numbers and letters, so to prevent an inevitable error… please always use copy and paste.
Again, this is your responsibility to prevent from happening. Just double check every time.
Now that you have Metamask and a little crypto, in Part 2 were going to show you where you can go and what you can do with it!