This tutorial explains how to install and set up the MetaMask extension so that you can receive the Letsfair tokens (LTF).
What is MetaMask?
One of the safest and simplest ways to use an Ethereum wallet is through this extension known as MetaMask. Using an encryption directly in your browser, MetaMask connects you directly to the Ethereum network, enabling direct access to the blockchain.
What are ERC20 tokens?
ERC20 tokens are projected and used only in the Ethereum platform. They follow a list of standards so that they can be shared, exchanged for other tokens, or transferred to a crypto wallet. The Letsfair tokens (LTF) follow this standard.
How to install MetaMask?
Through your Chrome, Firefox, Opera, or Brave browser, install the MetaMask extension:
Add the extension by clicking the button “Add to Chrome”.
Done, the extension was added to your browser.
Access the MetaMask by clicking on the icon next to the address bar of the browser.
Start creating your Ethereum wallet on MetaMask.
Insert a password. Be aware that this password is not editable, and there is no way to recover it.
Verify the image in your account. This is a way for you to identify your account visually.
Read and accept the privacy notice.
Read and accept the phishing warning.
This step is very important: backup your wallet!
Click on the lock to show the secret words.
Copy the words in a safe place, they make up the key for you to restore your wallet in another browser. Don’t let anyone see them. If another person has access to these words, your funds can be stolen.
Order the words in the right sequence. It is a validation to certify that you copied them to another place.
Verify the ways of adding Ethers (ETH) in your wallet. For now, that won’t be necessary, you can close the “Deposit Ether” window by clicking on X.
Done, you created your Ethereum wallet!
How to install the Letsfair token (LTF) on MetaMask?
Make sure that you are using the Main Ethereum Network, and not a test network.
Click on the “Add Token” button.
The Letsfair token (LTF) is a custom token, so click on the “Custom Token” tab.
Fill the form with the Letsfair token (LTF) data.
Letsfair token (LTF) data:
Token Address: 0x411A81C8Cd604941be13dBBD33B54e6f25d84683
Token Symbol: LTF
Decimals of Precision: 18
Confirm it by clicking on the “Add Tokens” button.
The Letsfair token (LTF) was added to your token list.
To receive the Letsfair tokens (LTF), insert the address of your wallet for the person who will transfer them to you. The address of your wallet is shown right below the account details button. Click on the wallet code, and it will be automatically copied into the transfer area.
Safely store your wallet recovery words. Once you have received the tokens, Letsfair will not be liable for the loss of tokens. Once they are received, they will be under your responsibility and there is no possibility of reverting any transaction.
To transfer the tokens to another wallet, from your MetaMask, it will be necessary to transfer a few cents of ETH to it, because it is necessary to pay for the network cost (gas) to perform the withdrawal transaction.