In this article, you will learn what is the token of precision. A token page is where on-chain and off-chain data of a token are displayed for Ethereum users' reference. The page can be overwhelming for a new or inexperienced user on their first visit to one. MetaMask is a software cryptocurrency wallet used to interact with the Ethereum blockchain.
What is the Token of Precision?
Token precision is the minimum divisible unit. Precision 0 means the minimum divisible unit is 1. Precision 2 means the minimum divisible unit is 0.01. The maximum value of precision is 18. This shows the decimal point value of the token that is derived from the token's contract.
How to Add Your Custom Tokens in MetaMask
Adding Custom Tokens to MetaMask Wallet from Etherscan
MetaMask displays your ERC20 standard tokens on your account page. During this demo, I have .0125 ETH and 12 SAI in my account.
- Open your in-app browser
-Go to Etherscan
- Search for your custom token
-Scroll down and retrieve the token's contract address
- Go back to your wallet
-Select “Add Token”
- MetaMask automatically updates the “token symbol” and “tokens of precision”
Viola! Your custom token should appear in your wallet alongside your other tokens.
- Adding Custom Tokens to MetaMask Wallet Using CoinGecko
Another way to add tokens to your wallet is by using CoinGecko. Head to the browser, search for your custom token, click on the Fox head logo, and it will be added to your wallet.
- Open your in-app browser
- Search CoinGecko
- Search for your custom token
-Scroll down and retrieve the token's contract address
-Click the MetaMask fox logo
- Select “Add Token.”
Your custom token should appear in your wallet alongside your other tokens.
Using MetaMask's Token Detection Feature
MetaMask's newest token detection enhancement is available for you to have a more comprehensive look at your wallet. By aggregating community-built lists, we aim to take a step in the right direction toward dynamic token detection that is more decentralized and secure. Our new feature can auto-detect tokens featured on two or more token lists.
This feature is off by default, is currently experimental, and is only available on Ethereum Mainnet. You can enable this feature by going to “Settings” and toggling it on. In both the mobile app and desktop extension, you can find this under “ Experimental."
Once enabled, you should see a more complete set of the tokens in your wallet that have non-zero balances.
Bottom Line
You may have noticed that MetaMask's token list isn't exhaustive (a total of 387.972 ERC-20 tokens and 10.603 ERC-721 tokens have been minted on Ethereum.) You can still add tokens that don't automatically appear in the provided search list . This article is about what is the token of precision.
