Swap crypto and exchange digital tokens | MetaMask
Last updated
Last updated
When we purchase crypto assets from any centralized exchange which is commonly known as CEX, our purchased tokens are stored in the CEX’s own custodial wallet. It means CEX has the capability to hold your assets but when a CEX holds your tokens, it has complete control over the private keys of your tokens. So, for security purposes, it is not recommended to hold your coins over any centralized exchange if you want to actively contribute in web3 or want to sleep peacefully without any worry about funds’ security. Well! What to do then? A self-custodial wallet can be a perfect choice to secure your assets with high encryption. And, if you’re actively participating in Ethereum blockchain, then no need to look further than MetaMask.Yes! You can purchase the ETH-based tokens from any centralized exchange and can secure those keys in MetaMask as it is a self-custodial wallet which permits you to have full control over your assets. In this read, we will look at the intact procedure of moving your coins from any CEX just by MetaMask login with password. Let me elaborate on it without any further ado.
First of all, make sure you already created your wallet and are able to accomplish MetaMask login with password. Afterwards, look further if your CEX has balance and then proceed by taking the path elaborated right away.Open the exchange from where you want to move tokens.Go to the list of available assets and pick up the token from there.Hit on the button that says “Withdraw” to proceed.Next, provide your MetaMask wallet address in the designated space.If you don’t know your MetaMask address, you can adhere to the below-mentioned steps to find it out.Firstly, make sure you have launched the MetaMask app or extension on your device. If you haven’t done it yet, go to the metamask.io and download it from there.Perform the MetaMask login password and unlock the wallet.Select the network which is compatible with the tokens you want to transfer.Hit on the sign of three vertical dots which reveals the menu.Scroll down the prompted list and pick up “Account Details” from there.After all, press the “Copy” icon located in front of the MetaMask wallet address. Now, pick up the network “Ethereum” and provide the amount which you want to draw out.Verify the details you have submitted such as wallet address, network and amount.Thenceforth, input the 2-factor authentication code (If you’ve enabled the 2FA in your account).This process may take up to 10 minutes to accomplish, so wait for a while and check the balance in MetaMask or your transfer status at the CEX.
MetaMask is a secure platform to hold purchased crypto keys with state-of-art encryption. Along with securing your assets, this platform also allows you to explore the decentralized realm by interlinking with dApps. This read could aid you in transferring your assets by MetaMask login with password but if you wish to learn more about MetaMask, you can go to official website of MetaMask and can get information from its “Support” page.
