Crypto Academy Week 5// Decentralized Finance 2//Homework submitted @yohan2on

Thank you for this week's lecture Prof. @yohan2on

Today I will be talking alittle about Metamask.

What is Metamask
Metamask is a cryptocurrency wallet that allows you store your cryptocurrency, literally what I mean is that it store your private coded which can give you access to you crypto assets. It is a browser extension, meaning using Google Chrome, fire fox, etc, you can connect to a blockchain. Metamask is an Etherum based decentralized wallet, you can buy, receive, send, store cryptocurrency like other wallets do. By viture of its location (Etherum blockchain), it is safe and secure. Ethereum blockchain is actually very safe and secure.

Metamask is a very good Wallet to use but it only allow storage of Etherum tokens (tokens built on the Ethereum blockchain), however it allow and give you leverage to create Dapps on its platform which are usually powered by smart contracts and these apps carry out specific functions.

Metamask is a decentralized, permissionless wallet, containing decentralized exchanges, DeFi services which can aid in easy transaction.
They are:

Open source: just like you writely said, openly audited, they can be reviewed and edited by anyone
HD settings: HD means hierarchical deterministic settings, which implies provision of seed words which can help you recover your account, peraventure it gets missing.
They have built in coin which can ease your trading
They have good customer support
They also have good interface.
A web 3.0 browser.
The have a mobile app, for easy access to your wallet
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Thinking of what wallet is good, think Metamask.

Getting started on Metamask
Step 1:
For a mobile phone, you need to download the app in other to use it. That can be gotten on Google play store. For a browse you can use either Google Chrome or brave browser.

Step 2
You are then required to create your access password. And you have either to create an account or you import.

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Step 3
This is a very important aspect of the Metamask Wallet as you are asked to back up your wallet. Ensure you write out the backup seed words, private keys, etc. Backing incase of account loose.

Step 4
Account is ready for trading. You can now send and receive Etherum tokens. Metamask gives you leverage to set you transaction fees. Ethereum gas fees are high though, but for your transaction to be fast you can set you transaction to average to reduce the cost.

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You can also add tokens to the already existing tokens.

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Payment for tokens on Metamask can be done via bank transfer using Transak platform.

DeFi services on Metamask
They are Decentralized system that makes trading easy. They are but not limited to what you can see below:

Decentralizated exchanges on Metamask are quite few and are:

Including Uniswap exchange.

In conclusion, Metamask is widely accept by users as it help form a bridge between the Wallet and the browser.

Thank you sir and see you in class 6.