ERC20 tokens are the standard created for publishing smart contracts on the Ethereum network, so one might be wondering - is Metamask ERC 20 compatible? Metamask is an online crypto wallet mainly used to run on the Ethereum network. We will also discuss how to add a custom token on Metamask.
Is MetaMask ERC-20 compatible?
Metamask is a digital wallet compatible with the Ethereum standard. It is designed to support decentralized application tokens on the Ethereum network, which means it can support all coins based on the ERC20 standard.
The ERC20 standard allows developers to create their own tokens on the Ethereum network. This allows companies to create easier routes for blockchain products without creating new cryptocurrencies. All ERC20 tokens are designed to be used for payment functions on the Ethereum network, and they are called utility tokens. Many ERC20 tokens can be traded on exchanges like Coinbase or Binance.
How to add a custom token on MetaMask?
If the coin you want to add is not in your asset list, you must add it to your Metamask wallet using the steps shown here.
- Open the Metamask extension browser and click on "Assets".
- Press the "Import Token" button at the bottom of the asset list screen.
- Enter the token you want to add in the search bar that appears
- Select a custom token from the list and click Next.
- Now click "Import Tokens" to include custom tokens in your asset list
Metamask will redirect you to the account page. Your new token will now be added to your crypto wallet.
I believe now you know about MetaMask ERC-20 compatible and how to add a custom token on MetaMask. Good luck with you adding new tokens by reading this article.
