Now that Fantom has launched its own mainnet, it’s time to learn how to add Fantom to MetaMask and start using it in your DApps! This step-by-step guide will teach you how to add the native token to MetaMask, how to view Fantom on your Ethereum wallet, and how to use it on DApps that allow it.
How to Add Fantom to MetaMask? A Simple Step-by-Step Guide – By This guide will walk you through how to add Fantom (FTM) to your MetaMask account in 3 simple steps. Using this method, you can trade Ethereum tokens in addition to Ether on the Ethereum network. How to Add Fantom to MetaMask? Sign in to your MetaMask account Click the Import Token button in the upper right corner of the page Select FTM from the drop-down menu Continue with the wizard and finish adding your tokens.
Preparing your Fantom account on MetaMask is one of the easiest steps to getting started with Fantom’s development ecosystem. It’s also one of the most confusing steps if you don’t know what you’re doing, which can make the rest of your journey that much more difficult. To make sure that you have no trouble adding Fantom to MetaMask, follow our simple step-by-step guide here to do so in mere minutes.
What is Fantom?
Fantom is an Ethereum Virtual Machine that does not require knowledge of EVM (Ethereum Virtual Machine) bytecode. It allows you to compile EVM bytecode into Fantom bytecode and execute it on our virtual machine. On top of all, we provide a decompiler called Decompiler that turns emitted JVM bytecode back into EVM bytecode. This means you can write your smart contract in Fantom instead of Solidity and still compile it into a binary format that can be used by any other applications which already support Ethereum smart contracts.
Fantom is a layer-1 blockchain aiming to provide an alternative to the high costs and low speeds about which users of Ethereum often complain. They run on a directed acyclic graph blockchain, similar to Hedera Hashgraph. Fantom is a smart contract-supporting blockchain, powered by its native FTM token. Following a $40 million raise, Fantom launched its mainnet in December 2019. Its blockchain is fast and cheap, and in 2021 proved that it could support its own decentralized finance (DeFi) industry.
How does Fantom work?
The Fantom blockchain partly achieves its speed through a directed acyclic graph (DAG), where blockchain transaction histories are displayed as a “hashgraph”—a graph of blockchain hashes. It’s similar to the technology that powers Hedera Hashgraph.
Another innovation is Fantom’s “leaderless” consensus mechanism, Lachesis. The mechanism is a variant of proof of stake, called asynchronous byzantine fault tolerant (aBFT). The advantage is that it can operate without a hitch even if a third of transaction data is fraudulent.
This means that Fantom’s blockchain nodes can validate transactions independently (the “asynchronous” in aBFT), without having to work through a queue of transactions. While it can take several minutes to clear a transaction on Ethereum and Bitcoin, transactions should take just two seconds on Fantom.
Unlike Solana, Fantom is compatible with the Ethereum virtual machine (EVM). That makes it easy to port decentralized applications built on Ethereum right over to Fantom. (Avalanche, Binance Smart Chain (BSC), and Polygon are also EVM compatible). To that end, FTM is available as an ERC-20 token and a BEP-20 token—meaning there’s a version of the token that conforms to the Ethereum and Binance Smart Chain token standards.
A Simple Step-by-Step Guide
However, in this process, we are going to show you the best steps to follow while adding Fantom to metamask. Therefore, follow these steps and get your job done.
- Installing and setting up MetaMask
- Configuring the wallet
- Adding Fantom tokens to MetaMask
Installing and setting up MetaMask
- Download and install MetaMask on Chrome, iOS, or Android through the MetaMask website.
- Once you have downloaded and installed the extension, click [Get Started].
- For new wallet users, click [Create a Wallet]. If you already have a wallet, use the [Import wallet] option.
- MetaMask will ask if you would like to help improve the extension by sharing anonymous usage data.
- Create a secure password. This will be used to log in to your wallet.
- Now that you have created your password, MetaMask will provide important information about your seed phrase.
- Next, click the lock to receive your 12-word seed phrase. Write the words down in the correct order and store them in a safe location (preferably offline). Do not share your seed phrase with anyone. If you lose access, the seed phrase is the last backup to your account. Click [Next] to continue.
- Confirm your seed phrase by selecting the words at the bottom of the screen in the right order. Once complete, click [Confirm].
- You have completed setting up your MetaMask wallet. To start using your wallet, click [All Done].
- For easy access, click the puzzle icon on the Chrome browser to pin MetaMask on your toolbar. By default, Metamask is only connected to Ethereum. In the following section, you will learn how to connect MetaMask to Fantom.
Configuring the wallet
- You will need to supply some network details to add Fantom support to your MetaMask wallet. First, open MetaMask and click the network dropdown menu.
- Click [Add Network] on the pop-up.
- On the [Add a network] page, add the following details. Click [Save] when you’re finished.
- You have successfully connected to the Fantom network.
Adding Fantom tokens to MetaMask
- Your wallet can still receive tokens that aren’t imported.
- Visit FTMScan and find the token contract and details of the token you’d like to add. For tokens not on FTMScan, always look for the contract address from the project’s official website or social media channels. Users should be wary of fake contracts created by scammers.
- Return to MetaMask and click [Import tokens].
- Copy and paste the token’s contract address, and MetaMask should automatically fill in the rest of the details. Add them manually if the information is not filled in. Click [Add Custom Token] to finish.
- Click [Import Tokens].
- Your wallet will now display the token you added with the correct balance.
Adding fantom is simple and quick with some small steps. That’s why you don’t have to worry about any difficulties if you face any issues during the process. Now that we have discussed about how can it be done, let’s give it a try. Go ahead and get yourself acquainted with fantom for your ETH wallet now!
In a simple conclusion, Fantom is known as an Ethereum token. Adding fantom to your Ethereum wallet will offer you great opportunities in terms of having a risk-free transaction and excellent user experience. You will also be able to engage in better security and other advanced features with fantom. So now that you know all about how can it be done, you are always welcome to use FANTOM so that everything goes smoothly!
However, if you have already purchased FANTOM tokens and wish to receive them via your MEW, check out our tutorial on How To Add any ERC20 Token into MyEtherWallet (MEW). I hope it’s been helpful for some of our readers who might still be confused about adding tokens with MyEtherWallet.
However, if there is anything you think we are missing. Don’t hesitate to inform us by dropping your advice in the comment section. Either way, let me know by leaving a comment below!
Read More: You can find more here https://www.poptalkz.com/.
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