Complete Guide to Using MetaMask Wallet｜Must-Read for Newbies to Avoid Pitfalls

Want to participate in DeFi but still hanging around on a Centralized Exchange? Then you need to get yourself a Wallet that you control. The little fox ( MetaMask ) is the top choice for this task—supporting Ethereum and all EVM compatible chains, with over ten million users and almost zero security incident records.

What can Little Fox do?

Summary in one sentence: It is the key to entering the world of Decentralized Finance.

The core of a Wallet is three things – generating a private key, initiating a transaction, and signing with the private key. It sounds complicated, but it's actually just:

Function 1: Deposit Coins and NFTs — Private Key → Public Key → Address, with an address you can deposit assets. Only the person with the private key can move these coins, so the private key is your absolute control over the assets.

Feature 2: Mastering DeFi — Interact through Wallets and Smart Contracts. Want to participate in lending, trading, or liquidity mining? It's all thanks to it. According to DeFi Llama data, the total locked value of Ethereum DeFi accounts for nearly 60% of the entire network, while the remaining 40% is basically EVM compatible chains, and almost all DeFi protocols on these chains support MetaMask — which means you can master the vast majority of DeFi with it.

Function 3: Cross-EVM Chain Operations — BSC, Polygon, Avalanche… all EVM-compatible chains can be operated using the same wallet without needing to install a bunch of software.

How is the security?

MetaMask itself is real, and there are no large-scale security vulnerabilities. But the problem is not with the wallet, it's with the people.

The most common scam is: someone impersonates the official entity and sends you an email asking you to enter your mnemonic phrase on a fake website. Remember - MetaMask officials will generally not contact you proactively, and anything that asks you to enter your private key/mnemonic phrase is a scam.

Red Line Warning:

• Only download from the official website (metamask.io), do not install the app from third-party channels.
• Never share your private key or seed phrase with anyone (including official customer service - they won't ask for it either).
• Do not connect to unfamiliar phishing websites
• Carefully review the terms before authorizing the smart contract. If there are risks, remember to revoke the authorization in a timely manner.

First time using? These need to be clarified

Password ≠ Private Key (Many beginners confuse them)

• Password: Just a layer of protection on this device; if forgotten, it can be reinstalled or restored on another device using the mnemonic.
• Private Key / Mnemonic Phrase: is the real key to your assets. If lost, it is permanently gone, and no one can recover it.

When creating a Wallet, you will be prompted to back up the mnemonic phrase (12 or 24 words), which is another form of the private key. Be sure to write it down on paper and keep it secure, do not save it on your phone/computer—once the device is lost or hacked, the assets will be gone. MetaMask does not store this information and there will be no customer service to help you retrieve it, so keeping it yourself is the only option.

Ask Yourself Three Questions Before Transferring Coins

1. Which chain is this coin on? (ETH, BSC, Polygon……?)
2. Which address to transfer to?
3. Which coin to transfer?

Confirm the correctness before proceeding, once confirmed, it cannot be reversed.

How to use the built-in Swap function?

Click Swap, select the coin to exchange and the coin to receive, and MetaMask will automatically find the best transaction path from multiple DEXs—it's convenient, but sometimes the fees may be higher than using DEX directly, which is the cost.

Three Tools to Prevent Theft

1. Do not leak private keys and mnemonic phrases — This is the bottom line.
2. Only use the official website — Ensure the link is genuine
3. Cautiously Authorize Contracts — Make sure to clearly understand what permissions you are authorizing, and revoke immediately if in doubt.

Additionally, ensure that your device itself is secure. A virus on your computer or a Trojan on your phone makes your Wallet useless no matter how secure it is.

The little fox is just that much. The core logic is very simple: it is a tool, and the tool itself is not the problem; the problem lies with the user. As long as you don't act recklessly, don't be greedy, and regularly check authorization permissions, you can basically use it with peace of mind.