ETH Guide
Last updated
Last updated
Install the application or extension
Download : https://metamask.io/download.html
Import seed phrase or create an account
Enter phrase = Import Account (12 words)
Create phrase = New Account (NEVER DISCLOSE SEED PHRASE)
Your Metamask should be loaded with the correct account **IMPORT ONLY**
If not– select the circle at the top (profile)
Then ‘create account’ and add them until the correct one displays
You are ready to transact on the Ethereum mainnet and interact with decentralized applications!
Note – You will need ETH in your wallet to pay gas fees when sending transactions on the network.
You can use a few different applications to track your address and monitor your holdings.
Zerion : best to view portfolio price history – price chart / trend line
Zapper Fi : monitoring net worth / comprehensive portfolio balance
You should consider your use case each time. Creating an account with a centralized exchange is always an option. However, you will still need to purchase cryptocurrency. Centralized exchanges are one way to purchase crypto that you can use for other things. Like sending to a wallet like Metamask or Coinbase.
Note– there are two applications provided by Coinbase: An exchange app and a wallet.
Since they are different types of applications, each should be considered for separate use cases.
There are also decentralized exchanges which allow for peer to peer trades. Like Uniswap or Sushiswap. (Sushiswap is a fork of Uniswap – in programming language that means a copy)
On the list for DEX’s are also aggregators like 1inch or Paraswap. These applications take the available pairs across DEX markets and provide users with a ‘quote’ for the best trade on the market. You will need to have a Web3 wallet to use decentralized applications.
With a Centralized exchange (CEX) the work is done for you via the exchange itself. Market or trade mechanisms– that are otherwise available in Decentralized finance –are mimicked via
Centralized exchanges like FTX, Coinbase or Binance and several third parties. Such as insurance providers, clearing houses and other financial institutions or constructs.
Centralized Exchanges (CEX’s)
Allows the buying and selling of non-fungible tokens (ERC-721/1155)
