Setting Up Your New Bank Account!
Your Wallet: A Bank Account On Steroids
A crypto wallet frees your money by removing all borders and walls of real world financial institutions. Send instantly, receive instantly, be your own bank.
Your MetaMask wallet can:
- Send crypto
- Receive crypto
- Swap from one crypto to another (ex: Ethereum to AAVE)
- Interact with DeFi Apps (i.e Compound, AAVE, OpenSea...)
Q: What is a wallet?
A: Your new bank account where you can hold, send, receive and swap between crypto coins & stable coins. Home base for your money.
Q: Why do I need a wallet?
A: Its your universal log-in! Every DApp you interact with will use your wallet to grant you access. (kind of like the "Log in with Facebook" option)
Q: What does a browser wallet mean?
A: Browser wallets like MetaMask are simply a Chrome (or Firefox) extension that can easily be accessed when browsing the web or crypto web apps.
Q: Difference between Seedphrase & Password?
A: Seedphrase is your master key, a randomly generated set of words in a specific order, which cannot be changed. Your password can be changed, and its just a 2nd line of security, so that you do not have to remember your long seedphrase.
Q: How secure is MetaMask wallet?
A: As secure as you make it. Its on you to keep your password + seedphrase safe!