Getting Started: MetaMask Wallet Setup

MetaMask Wallet Setup

This article will help you get your MetaMask wallet set up and ready to purchase your Silks assets. MetaMask is one of many cryptocurrency wallets that are able to hold NFTs. We recommend it because it most optimally works with both our platform and OpenSea.  

We understand that purchasing a Credit Card might be more appealing to some of our new players. Comparative to Venly, MetaMask offers you easier and more direct control over your assets whilst navigating the blockchain, whether its using OpenSea to buy and sell assets, or navigating the Silks Portal. If you still wish to purchase with a Credit Card, please visit our Venly guide. 

What is MetaMask?

MetaMask is a cryptocurrency wallet that enables users to access the Web 3 ecosystem of decentralized applications (DApps). The DApps you will be using are all embedded into the Silks website to help facilitate the purchase of your assets.

You can use MetaMask to:

  • Buy, sell, swap, send, and transfer cryptocurrencies
    • Your wallet needs to be funded in order to purchase a Silks asset
  • Connect to OpenSea to view, sell, and buy NFTs
  • Connect to the Silks website and Portal

Before You Get Started:

  • While its fully possible to purchase assets and interact with the Silks platform via a mobile smartphone, we encourage you to begin this process via a computer so your wallet is centralized to this location
    • Once your wallet is setup, you'll have the ability to import it into the MetaMask mobile application. More on this later. 
  • Make sure you have 10-15 minutes to dedicate your full attention to creating your wallet
  • Have a pen and a piece of paper readily available (this paper will be extremely important later on and for the entirety of your use within the Silks platform)

Step 1: Installing the MetaMask Extension

In order to proceed with creating your wallet, you'll need to download the MetaMask extension, you'll need to use a browser-extension enabled web browser such as Google Chrome, Firefox, Brave, or Edge. Safari is not supported for MetaMask. We'll be using Google Chrome for this tutorial. 

Click "Add to Chrome" to install the extension

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If this is your first extension, you'll see a short prompt asking you to Add "MetaMask" Click 'Add extension'

After adding the MetaMask extension, MetaMask will automatically open. You can also make sure its easily accessible on your Chrome toolbar by clicking the jigsaw puzzle icon in the top right of your screen, and clicking the pin icon to the right of it.

 

Step 2: Creating Your New Wallet

You'll be most frequently interacting with the MetaMask extension via a small rectangular box that appears in the top right corner of your browser. When viewing the MetaMask extension in your Google Chrome browser for the first time, click Get Started.

 

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  • We will be clicking "Create a wallet" to proceed.
    • The import wallet button is used to load previously created wallets into a new browser with the MetaMask extension

Next will be the password creation for your extension only. This password is only used to sign into this MetaMask extension on Google Chrome. If you import your wallet into another browser with the button above, you'll be prompted to create a new password. None of these passwords are linked to your private key itself. Make sure this is a password you're able to remember, as you'll use it to sign into MetaMask each time you wish to enter the Silks Portal or view your assets on-chain.

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Step 3: Secret Recovery Phrase

Your seed phrase, or Secret Recovery Phrase as referred to by MetaMask, is the lifeline and security behind your wallet and the technology that keeps your assets safe on the blockchain. You can think of these words as your master key to all your digital assets.

If you have lost or forgotten the password you just created in the previous step, you can use this set of 12 words to restore your wallet on any device. However, if anyone were to gain access to these 12 words, they could do the same. Anyone with this seed phrase can restore your wallet on their digital device and gain access to all your assets, including your cryptocurrency and NFTs.

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  • Use your pen and paper to carefully write down each word in the order its displayed from left to right. Take careful note of the spelling, capitalization, and order of the words.
  • In the next step, you'll be prompted to re-enter the words in the order you've written them down to confirm.

Click "Next". You'll now be prompted to re-enter the 12 words as they appeared in the previous step. Once completed, click continue and you be be shown your new MetaMask address!

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  • This is a completed and correctly MetaMask wallet address looks like!
    • Your unique wallet address will be listed below the Account 1 label. Every wallet address is unique. This is what we consider your Web 3 domain and will always be associated with the assets you purchase (unless transferred to a different wallet address)
  • The following steps will assist you in transferring or funding the wallet with Ethereum

 

Step 4: Funding Your Wallet

In order to successfully mint your Silks assets, you'll need your wallet funded with the amount of Ethereum needed for your purchase. 

  • Example: A Silks Starter Pack costs $1000 USD, so you'll need $100 of Ethereum loaded into this wallet

You can purchase Ethereum from another exchange such as Coinbase or Binance and directly send it to the wallet address you created above, or you can fund it directly from the MetaMask app itself.1-19.webp

 

First, select buy. This blue button appears in your wallet interface after opening the MetaMask extension using your web browser.

 

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MetaMask currently offers Coinbase Pay (Beta), Transak, and MoonPay as direct options to fund your account with your Credit Card. Please note that each of these services will require customer information to verify your identity. 

For more information on funding your new MetaMask wallet, check out the following article:

How to Add Funds to MetaMask

 

Once you have successfully funded your new MetaMask wallet with Ethereum, proceed to our Minting Guide 

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