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How do I add Avalanche (AVAX) to MetaMask?

 


Avalanche is an extremely interesting cryptocurrency that could define the future of dApps and in the areas of DeFi and NFTs. The Avalanche blockchain is characterized by extremely high scalability and the AVAX token rose massively in value in the fourth quarter of 2021. If you want to participate in the growth of Avalanche, you should look around for a suitable wallet (MetaMask). 


Avalanche

MetaMask is an excellent choice because you can not only hold AVAX tokens with this wallet, but also perform token swaps and have access to decentralized applications. Today we explain how you can connect Avalanche (AVAX) with the MetaMask. 


What is the MetaMask?

The MetaMask is a well-known crypto wallet that is Ethereum-based and also supports other tokens (tokens according to the ERC-20 standard). It is a software wallet, but it can also be used as a mobile app or as an extension for Google Chrome and Firefox. The special feature of MetaMask is that the wallet can not only function as a regular wallet. MetaMask can also act with a blockchain's smart contracts and associated decentralized applications. 


MetaMask has been around since 2016 and was developed by ConsenSys. Since September 2020, MetaMask is also available as a mobile app. Shortly thereafter, in October 2020, the wallet passed a milestone of 1 million monthly users for the first time. By August of the following year, there were already 10 million active users per month. JavaScript is the programming language of MetaMask. The wallet's famous logo depicts a fox's head.

MetaMask is a hot wallet. A hot wallet is used more for short- to medium-term storage of coins. The advantage of hot wallets is the quick availability of cryptocurrencies. In terms of security, the cold wallet is still superior. However, as an individual with clear reserves, you can very well use MetaMask for storage. You can find an overview of different types of crypto wallets here .


What is Avalanche (AVAX)?

Avalanche is a blockchain and crypto platform that has smart contract functions and thus supports decentralized applications. Similar to Ethereum, Solana and Polkadot, it is a decentralized computing platform on which dApps are built. The major focus of the Avalanche platform is on Decentralized Finance (DeFi).


Avalanche

On Avalanche, many types of assets such as currencies, dApps, NFTs, commodities or real estate are to be traded decentrally on the platform in the future. The internal token is AVAX, which users can use when staking for rewards, among other things. Avalanche uses the proof-of-stake consensus mechanism. 


The AVAX token experienced a big jump in price, especially in the fourth quarter of 2021, and rose to the top 15 cryptocurrencies by market capitalization. The AVAX price reached its all-time high on November 21, 2021 at a price of 146.22 US dollars. In the last 3-4 months, the AVAX, like almost all other cryptocurrencies, has suffered losses and is currently at 67.31 US dollars (as of March 15, 2022).


How do you connect MetaMask to Avalanche (AVAX)?

MetaMask is originally an Ethereum wallet, but can be connected to other cryptocurrencies and used as a wallet with all its functions. The connection of MetaMask with Avalanche is relatively uncomplicated. We'll give you a guide.


Step 1: Add MetaMask as a browser plugin

(If you have already set up a MetaMask wallet, go directly to step 3!)


If you haven't set up MetaMask for yourself yet, you can easily set it up as a browser extension. The MetaMask browser plugin was primarily developed for Google Chrome and you can easily integrate it into this browser.



MetaMask

Step 2: Set up MetaMask as an Ethereum wallet

In the next step you set up your new wallet. MetaMask is primarily an Ethereum wallet. You can find the detailed creation of MetaMask as an Ethereum wallet in this article .


Follow the instructions in this article if you need more help setting up MetaMask. The following steps are kept very simple. We give a brief overview:


Select "Add new wallet"!

Set a new password!

Save the backup key securely!

Step 3: Set up MetaMask as Avalanche Wallet

If you have now completed setting up MetaMask or already have a wallet, you can now connect your MetaMask to the Avalanche network. To do this, go to the browser extension and click on the network selection at the top! There you go to “Add network”.


Connect MetaMask Avalanche

A window will then open in your browser in which you must enter the data from Avalanche. The data is provided by Avalanche and is as follows:


Network Name : Avalanche Network

RPC URL: https://api.avax.network/ext/bc/C/rpc

ID: 43114

Currency symbol: AVAX

Block-Explorer: https://snowtrace.io/ 

MetaMask Avalanche data

Enter this data and click on save! 


You then connected MetaMask to Avalanche and the AVAX icon will appear in your MetaMask menu.


Avalanche MetaMask

What functions can I perform with Avalanche on the MetaMask?

After connecting MetaMask to Avalanche, all MetaMask features are available for the AVAX token.


Send AXAV on MetaMask

You can send AVAX tokens to your MetaMask wallet. To do this, go to the address of your MetaMask wallet at the top of the application and copy it.


Send AVAX

Then you go to a crypto exchange or another wallet where your AVAX tokens are and transfer them to the copied address.


Send AVAX from MetaMask to another address

Go to "Send" and then enter the destination address for your AVAX tokens!

Swap AVAX to MetaMask

To swap AVAX, go to the “Swap” function ! Here you can specify the amount of AVAX tokens to swap and select a token as a partner. At the end, optionally set the slippage tolerance ! This is a percentage of token price change that must be exceeded for the transaction to be cancelled. At the end click on “Check Swap”!

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