How to Easily Setup a MetaMask Wallet

Looking to kick off your NFT collection, but not sure where to begin? The first thing you’ll need is a crypto wallet, which will store your method of payment and allow you to access your new NFT. A crypto wallet allows you to purchase, send and receive your NFTs, as well as interact with blockchain-integrated websites—commonly known as decentralized applications (or dapps, for short)—like OpenSea.

In this post, we’ll walk through how to quickly get started with MetaMask, a popular crypto wallet.

Getting Started with MetaMask

  1. Visit https://metamask.io/download/.

2. Choose your application and click the Install MetaMask button

3. Choose “Create New Account” and follow the instructions to set up your password.

4. Next, make sure to back up your 12-word Secret Recovery Phrase (also known as a Seed Phrase). You should keep this safe (don’t store it digitally) and never reveal it to anyone. For more security tips, please read our wallet security guide

5. Now you’re ready to connect your wallet! Visit OpenSea.io, click the wallet icon in the top right corner and select MetaMask.


How to Fund MetaMask with ETH

Now that your wallet is set up, you’ll need some ETH.

Ether is the native currency of the Ethereum network and it’s commonly abbreviated to ETH, which is its most common signifier. You need ETH to pay for some of your interactions with the blockchain, and to pay for the items you buy.

Here are two ways to easily fund your account: 

1) Buy Directly within MetaMask

Depending on your region, you may be able to buy ETH directly with a credit or debit card via a third party provider. Please note, buying crypto with a credit card may incur additional fees, depending on which third-party provider you use. You may also not receive the entire crypto amount immediately.

  1. Open the MetaMask wallet extension or the mobile app. 
  2. Press Buy ETH.
Screen_Shot_2021-12-03_at_1.32.47_PM.png

3. Select a third-party service such as Wyre, Transak or MoonPay, which will facilitate the transfer of funds from your chosen funding source.


4. Follow the steps provided by the third-party service. You may need to submit personal information like an ID card or proof of residence to meet KYC (Know Your Customer) requirements.
5. Once you’re finished purchasing, the funds should appear in your wallet.

2) Funding From a Crypto Exchange

It’s also easy to fund your wallet by depositing from a reputable crypto exchange, like FTX, Coinbase or Binance, which offers a way to buy crypto with your bank account.
Handy tip: You can use the FTX app to buy ETH and withdraw it to your MetaMask with no withdrawal fees (see example below).

  1. Open the MetaMask wallet extension or the mobile app. 
  2. Copy your wallet address by clicking the Account button with a clipboard icon. If you’re using the desktop wallet extension, a Copy to clipboard will appear when you hover your mouse over the address.

3. Paste your wallet address as a ‘recipient address’ when withdrawing from your crypto exchange.  You can also consult the FAQ for each exchange below. Please note that these are third parties and we cannot make any guarantees about their service.
How to send crypto from FTX
How to send crypto from Coinbase 
How to send crypto from Binance

4. It may take some time for the ETH to appear in your wallet. After processing your withdrawal, your crypto exchange should provide a number called a Transaction Hash or Transaction ID. This is a unique number for each transaction on the blockchain. You can use this unique number to check the progress of your withdrawal on third-party tools like Etherscan. For more information on how to use Etherscan to view transaction information, click here.


How to Find an NFT You Love

With so many projects out there, we know it can seem hard to find an NFT you love. Here are a few things you may want to keep in mind to simplify the process. 

  1. Consider the purpose of purchasing. Are you buying an NFT you’ll use for a profile photo (PFP)? Alternatively, is it purely for art? Is it something you’d display at home? Maybe you’re looking for virtual land? How long do you plan to own the NFT? Asking these questions will help you narrow down the search as you browse.
  2. Research the project. Start with the official project website. This is a great starting point to understand motivations and goals of the founder(s). Many projects these days have a roadmap with lots of milestones. Does it seem realistic, or is it overly ambitious? Make sure to also check the project’s social media. 
  3. The founders. Most times, founders drive the vision, future and success of a project. It’s time to introduce two terms: doxxed and undoxxed. Doxxed founders have made their identity publicly known so you are able to research their background/history of success. Undoxxed founders have not revealed their identity and often go by an alias. 
  4. Join their Discord. You might buy an NFT just for the art, but you shouldn’t overlook the community. Checking out the project’s Discord is usually the best way to get a sense of the community and meet your fellow collectors. Join the discord and ask questions of the community and moderators. Are they helpful and welcoming?
  5. Research the artist. Artistry takes many forms. Some artists are brilliant and just starting out. Others are accomplished and have a history of other successful projects. At the end of the day, does the art make you feel a certain way? Do you want to support the artist? 
  6. Rarity features. NFT’s are unique and each one has unique rarity. Usually, NFT’s that are more rare are more sought after. You can see the traits, which drive rarity, in the left hand bar when on a project page.
  7. Project stats (eg. floor price, volume, owners). NFT users often focus on floor price. Yes – some projects might “moon” overnight, but you shouldn’t overlook other stats like volume and the number of owners. A collection with a high floor price and no volume is meaningless.
    If this is a short term purchase, factoring in the volume of how many users are buying and selling at any given time will be important if you ever decide to sell. Likewise, for profile picture projects (PFPs), projects having fewer owners may have difficulty gaining long-term traction and building community.

Ultimately, there are many points to think about when purchasing a NFT. At the end of the day, most people love NFT’s for the art and joy they provide. Once you have your NFT, make sure to share it with your fellow collectors!