Introducing MetaMask Swaps (2024)

FAQs

Why is MetaMask not letting me swap? ›

The main reason why your swap might have failed is likely to be slippage. When you perform a swap, you are agreeing to a price quote. If the price of the swap goes outside of the allowed slippage set (typically 2-3%), it will fail, in order to prevent you from seeing a huge variance in value when completed.

Unlike other crypto wallets out there, MetaMask is built to be privacy-first. We empower you to access, store and swap tokens, without having to worry about dapps or exchanges accessing more personal data than you've consented to give.

It should take about 7-8 minutes to deposit your funds. You will be prompted to sign and approve the transaction in your MetaMask wallet which is where the gas fee will also be quoted, and you will see a progress tab bar indicating when your transfer is complete.

With MetaMask, you can buy, sell and swap tokens directly from your wallet. MetaMask supports Ethereum (ETH) and all tokens on the Ethereum blockchain, which includes over 500,000 ERC-20 assets. NFTs are available only on mobile. Staking can be done directly from the wallet with integrated third-party software.

You are paying for the computation of your transaction, regardless of whether it succeeds or fails. Even if it fails, the validators must confirm and execute your transaction, which takes computational power. You must pay for that computation, just like you would pay for a successful transaction.

New York, NY, August 31st, 2021 — ConsenSys announced today that MetaMask now has more than 10 million monthly active users. This represents a 19x growth compared to July 2020, and positions MetaMask as the leading non-custodial wallet by users globally.

Don't share your Secret Recovery Phrase and private keys

Anyone who has your Secret Recovery Phrase or private keys can send tokens out of your accounts. Never share them with anyone, including the MetaMask team. We will never ask you to provide your Secret Recovery Phrase.

For its troubles, MetaMask takes a service fee of 0.875 percent, which is automatically factored into each quote.

It can take time to receive your crypto after doing a swap.

This is usually due to network congestion. If you've been waiting a while and still don't see your crypto, please reach out to the swap provider first, and provide them with your swap ID #.

Why is MetaMask swap pending? ›

If it still says “Pending” in orange you'll need to wait a little longer, or try the process again with an even higher transaction fee (gas price). Since no wallet can create two transactions of the same nonce, if the replacement transaction you make is successful, your stuck transaction will be canceled.

Transactions can take a very long time depending on network usage and your gas choices. The first thing to do is to check the transaction on a blockchain explorer, and check to see if the transaction has made it to the explorer.

On Metamask, you can set your gas fee to “Low” before confirming a transaction. If you want to save even more gas, click on Advanced Options.

The cancellation button is dynamic, and once the free cancellation period is over, the text will automatically update to reflect the cost of cancelling the transaction at that time. So even if you miss this window, you can still cancel the transaction for a small gas fee.

Before you can use MetaMask swap or any other decentralized application, you're going to need some ETH to pay the transaction fees on the Ethereum network. If you already have ETH transfer it directly to MetaMask.

MetaMask Swaps

These quotes may have included a 0.875% fee for MetaMask themselves, but still we're not quite sure where they got those incredible figures from, being around seven times more expensive than Uniswap.

MetaMask itself has never had a major hack. It likely wouldn't do the hackers any good anyway, because wallet data is stored locally for the users and never in MetaMask's servers. Phishing attacks are extremely common, and even experienced Ethereum users get caught in them every once in a while.

Who is the competitors of MetaMask? ›

Other important factors to consider when researching alternatives to Metamask include integration and security. We have compiled a list of solutions that reviewers voted as the best overall alternatives and competitors to Metamask, including Coinbase Wallet, ZenGo, Trust Wallet, and MyEtherWallet.

We do not recommend that you create multiple accounts in your MetaMask wallet. If you have multiple accounts, then you would need to maintain some ETH in each account to pay for transaction processing fees.

The scammers prompt the victim to enter their seed phrase into the form, supposedly to unlock the wallet. If the user is taken in and enters the secret phrase, they are redirected to the real MetaMask site, however, their wallet is now in cybercriminal hands.

MetaMask will never hand over your wallet to a government entity nor will it ever freeze your wallet like Robinhood did this past spring by restricting users' GameStop equity.

Online. The wallet is online, so it's more at risk than hardware wallets or offline “cold” wallets. Like any “hot” wallet, assets stored on Metamask can be compromised via security vulnerabilities on your device or internet connection.

Because there is limited space in each Ethereum block, the gas fee market is often used to prioritize which transactions will be included in the next block. Each transaction needs a certain amount of computational resources to complete, which requires a gas fee.

Is it cheaper to buy ETH on MetaMask or Coinbase? No, buying ETH directly from MetaMask is very expensive. If you wish to buy Ethereum at a lower cost, the best way is to buy from a crypto exchange and then send it to MetaMask using the ERC20 network.

You can use PancakeSwap with MetaMask and swap BEP20 tokens and stake CAKE & LP tokens. If you want to use PancakeSwap with MetaMask, you should first set up your MetaMask wallet and then connect it to Binance Smart Chain. You can follow our MetaMask tutorial to set up your MetaMask wallet and learn how to use it.

Bitstamp is the world's oldest crypto exchange, offering crypto access to more than four million clients in the world, mostly retail, but also providing access to 5,000 institutional clients – including banks, payment service providers, traders, and family offices.

Generally, if a transaction gets into the current block, it's finalized within 10 minutes. But the transaction may not fit into the current block if you've set a low transaction fee (some wallets like Atomic allow for such functionality), or the blockchain is congested.

When should I swap my crypto? ›

Swapping is better as an immediate solution. In most cases, it has nothing to do with profit. When you want to buy something that must accept DAI but only have ETH to spend, it's a good time to swap. Additionally, the swap function allows users to swap fiat and crypto with no trading knowledge required.

The fastest way to resolve this issue is to contact the merchant directly. If they're able to remove the pending transaction, it should be reflected in your account in about 24 hours. If they're not able to help you, pending transactions will fall off automatically after 7 days.

Since Ethereum transactions have to be processed sequentially, users can get completely stuck. In other words, the longest-running transaction has to be processed before any more recent transaction from that wallet has a chance to be processed.

If you participate in a drop that is likely to sell out immediately, it is important you use a fast gas fee option.

MetaMask supports a broad range of ERC-20 tokens, giving users familiar with crypto assets the best experience. The wallet software is free to download and offers multiple layers of protection, including multi-factor authentication and whitelists for sending and receiving tokens.

Also note that it can take up to 10 minutes or more to receive your ETH into your MetaMask wallet. Again, this time generally depends on how congested the network is at the time of transfer.

If you are getting failed transactions, make sure the gwei is set high enough, and the gas limit is above 250,000. If your MetaMask activity feed is inaccurate or stuck, meaning you are unable to speed up, cancel or send new transactions, try resetting the account.

Error: Why My Metamask wallet is not connecting to the Pancake swap? Remember, you cannot connect MetaMask to PancakeSwap without first enabling the Binance Smart Chain. It doesn't matter if you want to create a new wallet to connect it for a specific token transaction - you'll need to switch networks either way.

Connect Your Wallet First.

According to the reports, MetaMask failed transactions typically happen when you make a straight purchase on a web3 site without first connecting your wallet. We advise linking your MetaMask wallet before making any purchases to avoid this problem.

Why does MetaMask not support Solana? ›

Metamask only supports blockchains written in Solidity programming language, which is the foundation of the Ethereum Virtual Machine. Solana's native programming language is Rust, and hence, they are not compatible.

Dogeswap is a more efficient way to trade tokens than a single DEX. You will get a better price for your tokens 99 percent of the time. You can swap ETH and ERC20 tokens for the best prices with your Ethereum wallet! Dogeswap was inspired by dogecoin.

There is, however, a different risk to Uniswap and exchanges like it. Because anyone can add a token to Uniswap and start a liquidity pool, it's home to lots of scams and cryptocurrencies of dubious value. While centralized exchanges approve all their cryptocurrencies, Uniswap doesn't have any sort of vetting process.

You can use PancakeSwap with MetaMask and swap BEP20 tokens and stake CAKE & LP tokens. If you want to use PancakeSwap with MetaMask, you should first set up your MetaMask wallet and then connect it to Binance Smart Chain. You can follow our MetaMask tutorial to set up your MetaMask wallet and learn how to use it.

To connect your Metamask Wallet to Pancakeswap, visit the website pancakeswap. finance. There, you will see the Connect Wallet button on the top right-hand corner as shown below. Click on the button and select Metamask from the list of wallets, and you will be connected.

Based on the reports, failed transactions on MetaMask usually occur when you directly purchase on a web3 site without connecting your wallet first. To avoid this issue, we recommend connecting your MetaMask wallet first before buying anything.

While Apple doesn't directly support crypto payment directly, MetaMask users will be redirected to Wyre, a cryptoexchange that facilitates buying and selling of cryptocurrency, users will now have the option to make the payment via credit or debit card through Apple Pay.

Final Verdict

Even though Coinbase has integrated with multiple blockchains, it cannot compete with MetaMask's ability to connect with every dApp on the Ethereum blockchain. In the end, you have to consider accessibility and convenience while picking a wallet, especially to store your assets securely.