Wallet Setup Guide
Last updated
Last updated
This guide is written to help you set up a Metamask wallet. Metamask is one of the largest crypto wallet providers for self custody and it is very easy to use. The steps below can also be applied to other wallet providers since they all follow a similar process.
Download the Metamask web extension from the official website: https://metamask.io/.
Click on the buttons outlined in red in order as shown below:
After it has been successfully installed, a new browser tab named ‘Metamask’ will open up automatically. You should see the following:
Select whether you want to share data with Metamask to help improve it (Optional)
Create a password for your Metamask account. Choose a mix of uppercase + lowercase letters, numbers, and special characters to create a strong password. Make sure the password strength checker status is ‘Strong’ as shown below.
Note: This password only gives you access to your Metamask account and wallets on the current computer. Setting the same password on another computer will not give you access to the wallets on the previous computer.
Watch the video on Secret Recovery Phrase (Highly recommended if you have not used a crypto wallet before) and then click ‘Secure my wallet’.
Write down your 12-word Secret Recovery Phrase and store it in a secure place.
Tips:
As mentioned in the image below, multiple copies of the Secret Recovery Phrase stored in multiple secret places are highly encouraged
Do not write the Secret Recovery Phrase down on a random piece of paper
Do not share your Secret Recovery Phrase
Confirm that you have written down your Secret Recovery Phrase by filling in the missing words in the blue boxes.
Congratulations! You’re all set up!
This section will focus on how to buy crypto such as ETH directly from your Metamask wallet.
If you’re a first-time user, you must select your region to continue.
Select your preferred payment method.
Type in the amount you want to purchase and click ‘Get Quotes’.
Choose a provider to proceed with the purchase.
The provider that charges the least fees will be listed on the top as shown in the red box below. The provider that will give the best return will not be the same for every country.
Follow the instructions outlined by the provider to complete the purchase.
Parallax currently supports two networks;
Arbitrum (live) and
zkSync Era (soon)
To add both networks:
Go to this website https://chainlist.org
Connect your wallet
3. Add the Arbitrum by clicking “Add to Metamask” or use the search bar like with zkSync Era
4. Approve adding the network.
5. Check your Metamask to confirm everything is perfect. If you see the below image after adding then you are good.
ARBITRUM
Network name: Arbitrum One
New RPC URL: https://arb1.arbitrum.io/rpc
Chain ID: 42161
Currency symbol: ETH
Block explorer URL: https://arbiscan.io
ZKYSNC ERA
Network name: ZKSYNC ERA
New RPC URL: https://zksync2-mainnet.zksync.io
Chain ID: 324
Currency symbol: ETH
Block explorer URL: https://explorer.zksync.io
Click on your Metamask Extension and select ‘Buy’.
