One of the best cryptocurrency exchanges available today, Swyftx has all the features you require bundled into one platform. On Swyftx, you may trade more than 320 different assets, including cryptocurrencies like Bitcoin, Ethereum, Ripple and Litecoin, as well as DeFi coins like Unicoin. One of the finest cryptocurrency exchanges in Australia, Swyftx enables customers to purchase more than 300 cryptocurrencies and withdraw their funds to external wallets.
You will normally require a browser extension wallet if you want to connect with decentralised applications. Due to its simplicity of usage, MetaMask is the most widely used browser extension wallet. This article outlines six comprehensive steps for moving cryptocurrency from Swyftx to MetaMask.
Why Use MetaMask?
MetaMask is a cryptocurrency wallet that uses software to communicate with the Ethereum blockchain. It enables users to interact with decentralised applications by allowing them to access their Ethereum wallet via a browser extension or mobile app. It is one among the world’s most popular crypto apps.
In a nutshell, MetaMask is a cryptocurrency wallet that lets users store ERC-20 tokens like Ether. You can interact with decentralised applications, or dapps, using the wallet as well.
One of the primary entry points into the world of Web3, decentralised finance (DeFi), and NFTs is MetaMask, which depends on browser integration and strong design. But you need a user interface in order to use them. A sleek, simple, and easy-to-use to use interface is ideal.
Important to Keep in Mind
For new users, sending cryptocurrency from one location to another might be highly confusing. One of the most frequent errors made by newcomers is choosing the incorrect network to move their cryptocurrency across. Please be sure to perform the following when withdrawing cryptocurrency from a wallet or an exchange:
- Verify the accuracy of the public address.
- Pick a network to send through
- Verify that the receiving wallet or exchange is compatible with the network.
- Send the minimum amount you can to check the address
- Send the rest using the same network when this has been received.
Steps to transfer crypto from Swyftx to Metamask
For a number of reasons, users can send cryptocurrency from Swyftx to MetaMask. We’ve outlined how to move cryptocurrency in just 6 easy steps from your Swyftx wallet to your MetaMask wallet below.
Step 1: Purchase Cryptocurrency on Swyftx
You need to first buy cryptocurrency on Swyftx if you haven’t previously. Swyftx offers more than 300 cryptocurrencies, all of which may be purchased by deposit of Australian dollars (AUD). Swyftx accepts the following payment methods for AUD deposits:
- Bank transfer
- Credit or debit card
The trade option in your Swyftx app will allow you to purchase bitcoin once you have put AUD into your account. Your personal Swyftx wallet will be immediately filled with the cryptocurrency asset you have decided to purchase. For all buy and sell orders, Swyftx charges a trading fee of 0.6 percent.
Step 2: Go on to the Withdrawal Section.
After you have bought cryptocurrency, it will be possible to withdraw it from your Swyftx account. Find the withdrawal tab on the Swyftx app or desktop trading platform.
Next is to find your withdrawal address after selecting the cryptocurrency and transferring it to your MetaMask wallet.
Step 3: Get your MetaMask address
Following that, you must enter your MetaMask wallet’s withdrawal address. Usually made up of a random combination of letters and numbers, this wallet address functions like a bank account number.
Your wallet app may be quickly updated using your MetaMask public address. An alternative is to use Swyftx’s QR scanner, which will automatically enter your MetaMask address when you scan the QR code. The withdrawal portion of your Swyftx account’s plus button is where you click after copying the withdrawal address from your MetaMask account.
After pasting in the wallet address, add a name for your MetaMask wallet, and then click “ADD.” When you add a new withdrawal address to your Swyftx account, a verification SMS and email will be sent to you. Swyftx has implemented this security step to make sure that withdrawal addresses are accurate.
Step 4: Check That the Receiving Wallet or Exchange is Compatible With That Network
You will typically be given a choice of networks to send on when sending cryptocurrency from one wallet to another. Beginners frequently make the error of sending crypto on a network that the receiving network does not support. As a result, the cryptocurrency might never reach the recipient wallet.
For instance, Swyftx offers the choice of two distinct networks: Ethereum (ERC-20) or SOL, if you wish to send USDT to your MetaMask wallet. You might choose the Solana (SOL) network instead of the Ethereum network because transfers on it are frequently slow and expensive. However, because MetaMask does not support the Solana network, the money will not be transferred.
It’s usually a good idea to do your research and check out which networks MetaMask supports. It is also critical to transmit a test amount, which is explained in greater detail in the step 5 below.
Step 5: Send a Test Amount
It is usually a good idea to send a modest quantity of cryptocurrency to your wallet if you haven’t already. This reduces the possibility of losing all of your cryptocurrency if something goes wrong.
The minimal amount you can send from Swyftx to MetaMask depends on the cryptocurrency you’re transferring.
Step 6: Send the Remainder Once the Test Has Been Received.
You can send the remainder once the test amount has been received in your MetaMask wallet. It’s crucial to remember that depending on a variety of conditions, it could take up to 10 minutes to appear in your wallet. When it arrives, it will be displayed at the top of your wallet.
Crypto withdrawals will be processed right away and become visible on the blockchain after five minutes. These withdrawals cannot be undone in any way. Make sure you have verified the address and currency three times.