In this article, we will tell you what Metamask is, how to use it and earn money by buying and swaping NMX tokens.
Metamask is a browser extension and also the most popular cryptocurrency wallet for storing Ether and other ERC-20 tokens. Metamask is needed primarily to trade or swap on decentralized exchanges or DEX’ah. This is the most popular, secure and in-demand tool for trading, buying and storing tokens based on Etherium.
Metamask is an extension for browsers such as Chrome and Firefox, but it is also available in the mobile version for iOS/Android, but for simplicity, we will show an example of installing using Google Chrome on a PC.
Go to Metamask.io to install the app:
By clicking on Download, we get to the Chrome online store, click install:
After successful installation, a message and icon will appear in the upper-right corner.
Click on the icon, and then there will be two options:
1. If you already have a Metamask wallet, you can simply import it by uploading your secret phrase of 12 words.
2. If you have no purse, you can create it.
Click “create wallet”, accept the terms, come up with a password, and create an account.
Next, you will see a secret phrase of 12 words, it is better to rewrite it on paper and store it in a safe place, without showing it to anyone. And it is better to rewrite 5 times, hide it all over the apartment. You can also download this phrase by clicking on the side note.
After that, we confirm the account creation by entering the same words in the same order. The first step is made!
Now you will see the Fox icon in the upper-right corner of the browser, and by clicking on it you will see the Metamask wallet itself.
What can I do in Metamask?
Here you can see 3 main functions: buy, send, and swap.
Now, in the upper right corner of the browser, you will see the fox icon, clicking on which you will see the Metamask wallet itself. Basically, the wallet is connected to the ETH network. We also need to transfer it to the Binance Smart Chain network (BSC). How this is done is described in this guide.
Have you configured the network, added custom tokens, added BNB, USDT, and NMX of the BEP20 type? Great!
The next step:
We need to connect Metamask to Pancake swap and to Nominex.
PancakeSwap uses the AMM model on BSC so that you can trade BEP20 assets with each other. Liquidity will be provided by the Liquidity Providers (“LP”). That is you. You exchange your NMX and USDT for NMX-LP tokens, which can be staked on Nominex to receive new DeFi NMX.
The transaction fee on PancakeSwap is 0.2%. This commission will be distributed between LP and PancakeSwap in the following proportion 0.17% and 0.03% accordingly.
P.S To access Pancakeswap on a mobile device, you must use the Dapps browser in a trusted wallet. The Dapps browser is available in the trusted Android wallet, iOS devices show you here.
- You are on the PancakeSwap home page. We recommend opening it through the Chrome browser.
- Click ” Connect” in the upper right corner. You have a window opening
- You choose the Metamask. And that’s it, you’re connected
- If you intend to trade (buy / sell) NMX through Pancake swap and not through Nominex, then you need to go to the Trade tab in the side menu on the left and select Exchange.
- Choose one of the currencies (which should already be in your wallet along with BNB to pay for gas). And click exchange.
- Verify the transaction in your wallet