MetaMask is a robust and widely used crypto wallet. It allows users to access their wallets securely, store tokens, send payments, and interact with decentralized applications (DApps). This guide will show you how to add the Fantom network to your MetaMask wallet.
Overview of Fantom Network
Fantom is one of today’s most effective and efficient Ethereum Virtual Machine (EVM) compatible blockchain networks. It offers great convenience to developers by allowing them to deploy their smart contracts and decentralized applications directly on the chain while also enabling them to port existing codebases from Ethereum and other EVM blockchains without any changes.
On-chain data shows that more users are attracted to this innovative platform, creating new wallets daily, indicating a growing trend in user adoption. Fantom runs on a Proof of Stake (POS) consensus algorithm, and its native currency is Fantom Coin (FTM).
Adding the network is relatively simple for wallets like MetaMask; it only requires a few clicks.
Benefits of using the Fantom Network
The Fantom network is making significant waves in the cryptocurrency community due to its incredible transaction speeds and low transaction fees.
Fantom uses Directed Acyclic Graph technology (DAG), allowing up to 300,000 transactions per second without needing data from previous transactions. Not only are these transactions quick and reliable, but they are also very affordable at around 0.00001 dollars per transaction.Fantom is compatible with the Ethereum virtual machine (EVM), so developers can quickly transfer any applications developed for Ethereum to run on the Fantom network.The platform utilizes a decentralized governance system that ensures all users are treated fairly and fully transparent within the network.
These benefits of using the Fantom network make it clear why it is quickly becoming one of the most popular cryptocurrency solutions today.
Disadvantages of using the Fantom Network
Despite the numerous advantages of using the Fantom network, you should pay attention to these drawbacks:
Lower security compared to other blockchains, as the DAG system sacrifices some level of security in favor of higher scalability.The high inflation rate of the Fantom cryptocurrency has merely dropped even as more users join the network.Fantom faces stiff competition from other established projects such as NEO, Solana, and Hashgraph.
How to install MetaMask
If you don’t have a MetaMask wallet installed on your device, visit the official website at https://MetaMask.io/ and follow the installation instructions. Once you’ve successfully installed the MetaMask app, open it up and create an account.
You can also install the MetaMask wallet extension from the Chrome web browser extension store. Here are the steps:
Visit the Chrome extension store.Search “MetaMask.”Click “Add to chrome.” Double-check the publisher and reviews to avoid installing a phishing version of MetaMask.On the MetaMask pop-up, click “Get started.”Click “Create a wallet” to set up a new Ethereum address or “Import wallet” to add an existing Ethereum account.
How to add Fantom network on MetaMask wallet
By adding Fantom as a registered network in your wallet, you can easily switch between networks at will and securely interact with DApps hosted on the Fantom mainnet. A few clicks are all that stands between you and your connection to Fantom’s evolving blockchain.
Log in to your MetaMask wallet, and click the circle at the top right corner.Click “Settings” and select “Network.”Click “Add Network” and fill in the pop-up form with these details: Network Name: Fantom, New RPC URL: https://rpc.ftm.tools/, Chain ID: 250, Symbol: FTM, Explorer: https://ftmscan.com/.Click “Save.”
You can now use the Fantom network.
To switch from the current network to Fantom:
Click the profile circle at the top right corner of MetaMask.Then, under “Networks,” select “Fantom.”
How to transfer tokens on the MetaMask wallet
Once you’ve added the Fantom network to your MetaMask wallet, transferring tokens from one account to another is easy. Here are the steps:
Click “Send” on the MetaMask home page.Enter the recipient address in the “To:” field.Select your token from the drop-down menu (FTM or any other token).Input the amount you wish to send and click “Next.”Double-check that all the details are correct before confirming with your password or private key. After confirming, hit “Confirm,” and the blockchain sends your funds to the specified address.
You can also access and manage advanced transactions such as staking and lending through MetaMask wallet.
How to add Fantom on MetaMask mobile wallet app
Download and install MetaMask from your mobile app store. Then, log in to your account. The process is similar to that of the web browser version.On the app homepage, click “Wallet.”On the “Popular” section, you will find Fantom already pre-set. Click “Add” then “Approve.”If the network is unavailable in the “Approve” section, navigate to “Custom Network” and paste the Fantom details as shared earlier. Click “Add.”
How to add Fantom tokens to MetaMask
To add other Fantom tokens – other than FTM- to MetaMask:
Visit ftmscan.com, and browse the contract details of the token you would like to add.Open your MetaMask, and under options, click “Import tokens.”Paste the contract details on the form provided. Then, click “Add Custom Token.”Click “Import tokens.”
How to add Fantom test net to MetaMask
A testnet is a blockchain for testing and developing DApps without real money. To connect your MetaMask wallet to the Fantom testnet:
First, navigate to the wallet settings.Then, on the “Network” section, click “Add Network.”Paste this URL in the “New RPC URL” field: https://rpc-testnet.fantom.network/, Chain ID: 0xfa2, Network Name: Fantom testnet and Symbol: FTM.Click “Save.”
You can now use the Fantom testnet! You can use FTM test tokens on the test net to develop and deploy DApps without using real money.
10 tips on how to use Fantom on MetaMask securely
1. Always use safe and secure networks when accessing your MetaMask wallet.
2. Keep your private key safe and never share it with anyone.
3. Enable two-factor authentication (2FA) to protect your account from unauthorized access.
4. Regularly check for updates in the MetaMask app to ensure you have the latest application version running on your device.
5. Never send tokens directly from an exchange address, as this could expose you to the risk of double spending or theft.
6. Use gas fees wisely to avoid overpaying for transactions on the Fantom network.
7. Be aware of scams, phishing links, and other malicious activities that bad actors can use to steal your tokens.
8. Always check the recipient’s address twice before sending tokens.
9. Monitor your wallet activity regularly and watch out for suspicious transactions or activities.
10. Store a backup of your MetaMask wallet in a secure location away from prying eyes.
Conclusion
MetaMask is a great way to interact with the Fantom blockchain, and it’s easy to start. By following the steps outlined in this article, you can securely connect your MetaMask wallet to the Fantom network and add FTM tokens easily. Remember to use caution when interacting with any blockchain platform, and keep your private key safe.
