Is MetaMask a Polygon or ERC-20?
MATIC is commonly bought/traded on both centralized and decentralized exchanges as an ERC-20 token, i.e. a token usable on Ethereum.
MetaMask is a cryptocurrency wallet but also a web browser extension (available in Chrome, Firefox and Brave) used to store, send and receive Ethereum and ERC20. In other words, it allows users to make Ethereum transactions through regular websites.
MetaMask can be used with most decentralized applications (dapps) and decentralized exchanges (DEXs), including the Polygon network, a layer 2 scaling product that allows you to trade cryptocurrencies with lower fees. To use Polygon with MetaMask, follow the quick and easy steps below.
Polygon (MATIC) exists on the Ethereum blockchain, but it is so unique that it no longer meets the ERC-20 Standard.
However, MetaMask doesn't have Polygon added as a network by default. Setting up your browser wallet to connect to Polygon is simple and can be done in just a few minutes.
MetaMask is a popular cryptocurrency wallet known for its ease of use, availability on both desktops and mobile devices, the ability to buy, send, and receive cryptocurrency from within the wallet, and collect non-fungible tokens (NFTs) across two blockchains.
To deposit ETH or ERC-20 tokens to your MetaMask wallet from an exchange or another wallet, you will simply need to submit a transaction pointed to the address of one of your accounts in MetaMask. Please check the exchanges that operate in your country here.
Once you've set up your MetaMask wallet, you simply need to add the Polygon network to your wallet so you can access it. To do that, we will open the side panel of our MetaMask wallet and click the âExpand viewâ option under the three dots on the top-right. Your wallet will open up on a new browser tab like this.
Connecting MetaMask to Polygon
Switch the connected blockchain by clicking on the tab saying Main Ethereum Network, we need to add Polygon. Scroll down until you find Add Network. Enter in the Polygon settings as follows: Network name: Polygon Mainnet.
- To do so, click the [Switch to Polygon] button on the top. Make sure that you've already connected your MetaMask wallet.
- You'll see a pop-up from your MetaMask extension with the Polygon network details. Click [Approve].
- Done. ...
- You can now see MATIC in your MetaMask wallet.
Does Polygon have ERC-20 tokens?
ERC-20 tokens are a key part of transacting on EVM-compatible blockchains and layer 2s. In this tutorial, you'll learn how to create an ERC-20 token on Polygon, a layer-2 EVM blockchain that's lower cost than deploying directly on Ethereum mainnet.
How to use the Plasma bridge on Polygon. The Plasma Bridge can help you transfer MATIC or other Polygon tokens to Ethereum. However, it only supports the transfer of ERC-20 and ERC-721 tokens, including ETH and MATIC.
In a nutshell, Polygon bills itself as a layer-2 network, meaning it acts as an add-on layer to Ethereum that does not seek to change the original blockchain layer. Like its geometric namesake, Polygon has many sides, shapes, and uses and promises a simpler framework for building interconnected networks.
- To do this, click on the âEthereum Mainnetâ found on the upper right-hand of your screen. The available networks will appear. ...
- Using the same browser, go to https://wallet.polygon.technology/ and click on âPolygon Wallet.â Then, choose MetaMask.
- A Signature Request from your MetaMask will pop up. Click âSign.â
- MetaMask Settings. 1) Go to the settings page.
- MetaMask Settings. 2) Click on Networks > Add Network.
- 3) Key in the relevant details:
To send MATIC from Coinbase to MetaMask, you need to add the Polygon network to MetaMask. Then, copy your MetaMask wallet address. Paste it into the Send on Coinbase. Enter the amount and complete the verification process.
- Login to Metamask.
- On the Network dropdown, select Custom RPC.
- Save it - you will then see the new addition to your Metamask dropdown.
