How to store Bitcoin on MetaMask?

MetaMask is simply a well-known wallet for Ethereum-enabled distributed applications (dApps). But tin MetaMask clasp Bitcoin (BTC), which remains the largest cryptocurrency?

For galore crypto investors, Bitcoin is an important portion of their portfolio. Besides being an concern asset, Bitcoin tin besides beryllium utilized arsenic a outgo method. Thanks to wallets specified arsenic MetaMask, paying via blockchain exertion has go overmuch easier. This Ethereum crypto wallet enables millions of investors to enactment successful everything the crypto marketplace has to offer. Even though Ether (ETH) is simply a precise fashionable means of payment, astir radical bargain Bitcoin.

Related: How does Bitcoin enactment and wherefore was BTC created?

However, Bitcoin is not the cryptocurrency you deliberation of erstwhile you speech astir buying a non-fungible token (NFT) oregon investing successful decentralized concern (DeFi). Still, determination whitethorn beryllium situations wherever you would similar to usage Bitcoin for these actions. So successful this article, you volition larn however to store Bitcoin with the MetaMask!

MetaMask crypto wallet

MetaMask is an Ethereum wallet that is disposable arsenic an app and arsenic an hold successful the web browser. In different words, MetaMask allows users to store their backstage keys and past securely usage apps and websites with Ethereum-based DApps and astute contracts. One of the astir fashionable crypto wallets, MetaMask precocious passed the 30 cardinal idiosyncratic people successful March 2022. This is due, successful part, to the emergence of decentralized concern (DeFi) and nonfungible tokens (NFTs).

Is MetaMask lone for Ethereum?

MetaMask is lone suitable for tokens that usage the Ethereum blockchain, the alleged ERC-20 tokens. If you privation to usage different tokens (i.e., tokens that are not ERC-20 tokens), you volition person to exchange them for ERC-20 tokens. It would past beryllium imaginable to store these tokens successful your MetaMask.

An illustration of this is Zcash, a cryptocurrency suitable for making anonymous transactions. This cryptocurrency is not based connected the Ethereum web and is truthful not an ERC-20 token. But by wrapping Zcash tokens, you tin inactive usage Zcash.

MetaMask hardware wallet

Protecting cryptocurrencies often comes up erstwhile radical archetypal commencement their crypto research. It is of large importance, which is wherefore a bully wallet is indispensable. A hardware wallet is often recommended due to the fact that it tin beryllium utilized to store your cryptocurrencies offline. But is MetaMask besides a hardware wallet?

MetaMask is not a hardware wallet. It is simply a bundle wallet. These wallets are besides called blistery wallets and are connected to the internet. Even so, you tin inactive link MetaMask to a hardware wallet. This way, you tin besides usage MetaMask with a Ledger, which is the astir well-known hardware wallet.

To bash so, unfastened the ETH app, and prime "Connect Hardware Wallet" to integrate your Ledger hardware wallet into MetaMask. Then, a pop-up model volition open, prompting you to take your instrumentality and click "Connect."

When you usage a Ledger with the MetaMask browser extension, the bundle wallet lone functions arsenic a portal and not arsenic a wallet. Your backstage keys bash not permission the Ledger truthful they are not stored connected MetaMask.

Does MetaMask enactment Bitcoin?

MetaMask supports Bitcoin, but not successful the mode an speech wallet accepts the cryptocurrency. Bitcoin is not an ERC-20 token, truthful the largest cryptocurrency is not accepted straight by MetaMask. However, you tin get BTC into your MetaMask successful a roundabout way.

That said, bash not effort to nonstop Bitcoin straight to your MetaMask. If you effort to bash so, MetaMask volition not beryllium capable to person the token, which could pb to antagonistic consequences. You could suffer each the Bitcoin you person sent astatine once, which would beryllium a unspeakable situation!

How to nonstop Bitcoin to MetaMask?

As you person read, it is not imaginable to nonstop BTC straight to MetaMask. But this does not mean it is intolerable to get Bitcoin into your MetaMask wallet. BTC runs connected its ain blockchain. On this Bitcoin blockchain, transactions tin lone beryllium sent to Bitcoin addresses. This is existent not lone for Bitcoin but besides for different blockchains specified arsenic Ethereum.

On the Ethereum blockchain, it is lone imaginable to nonstop Ethereum-related tokens. Sending Bitcoin implicit the Ethereum web is comparable to paying with the euro successful the United States. The euro is not accepted arsenic a currency successful the United States, but you tin usage your euros successful a roundabout way. By exchanging these euros, you tin person the aforesaid worth successful U.S. dollars and usage this arsenic a method of payment.

Nonetheless, if you bash not privation to speech your Bitcoin for Ethereum, determination are different solutions. This means that you request to fastener your BTC successful 1 spot and past bring it to the Ethereum blockchain arsenic a caller token, which represents the Bitcoin locked connected the Bitcoin blockchain. This is besides called Wrapped BTC (wBTC), which means Bitcoin arsenic an ERC-20 token.

Related: Bitcoin wallets: A beginners usher to storing BTC

How to wrapper Bitcoin?

There are respective ways to wrapper your Bitcoin. Let's instrumentality Binance arsenic an example. On Binance, BTC and wBTC are 2 antithetic tokens, truthful you tin commercialized them. By clicking connected “Classic” successful the Trade conception of Binance, you volition beryllium taken to the exchange's trading platform. Here you tin find the trading brace with some Bitcoin tokens. Here you tin participate however galore WBTC you privation to bargain and corroborate this by clicking connected Buy WBTC.

What if you don’t spot your wBTC successful your MetaMask? You tin easy alteration this by adding the wBTC token utilizing the steps below:

MetaMask wallet address

To enactment your wBTC to work, the wallet code of your MetaMask is precise important and casual to find. By opening the exertion and logging in, you volition get astatine the main MetaMask screen. Under your relationship name, you volition find your unsocial code, which acts arsenic your address. This code tin beryllium utilized to person crypto.

You tin stock this codification with others, but ne'er stock the different codes with anyone. Your login and betterment information are meant to support your assets. If others get these codes, they tin maltreatment them and origin you to suffer your crypto assets.

MetaMask alternatives

MetaMask is simply a fashionable bundle wallet, but determination are besides alternate options. Because of each the antithetic blockchains, respective wallets are suitable lone for a circumstantial blockchain. Two examples are the Yoroi wallet of Cardano and the Phantom wallet of Solana.

Several bundle wallets are suitable for the ERC-20 tokens connected the Ethereum blockchain. The vantage of MetaMask is that you tin usage it done websites and the app. This is wherever MetaMask distinguishes itself from its competitors.

The Trust Wallet, for example, is simply a much respected bundle wallet, which tin beryllium utilized arsenic a mobile exertion arsenic an alternate to MetaMask. The MyEtherWallet and Mist Wallet, 2 website wallets that judge ERC-20 tokens, are besides fashionable MetaMask alternatives.

Although MetaMask is the astir fashionable all-around bundle wallet, it ne'er hurts to usage aggregate wallets. Using antithetic wallets is simply a benignant of hazard absorption strategy. By utilizing aggregate wallets, you volition not suffer each your crypto assets erstwhile lone 1 wallet is hacked.