How to Deposit and Withdraw Tokens Through Your MetaMask Wallet

The rapid evolution of the crypto world has introduced several revolutionary features, wallets, apps, etc. One of those is MetaMask – a specially designed ETH wallet that grows in popularity with each passing day.

If you are among the new ETH investors, then we suppose you will be interested in knowing how the process of depositing and later converting tokens to real money goes. Worry not, as the process is as simple as it gets, so let’s walk you through it!

Deposit ETH to Your MetaMask Wallet

Let’s start with the depositing process. Note that if you are to deposit Ether or ERC-20 tokens to MetaMask from an exchange platform or another wallet that is connected with MetaMask, you must submit a transaction on your MetaMask account.

MetaMask has a long list of exchanges that operate in various countries, so make sure to check out the list and see whether yours is in there.

As you may know, MetaMask works both as a mobile app and a browser extension, and we will walk you through both sets of procedures for depositing Ether.

Web Extension

The step-by-step procedure of depositing ETH to your MetaMask would roughly go as follows:

1. Open MetaMask and click on the public address. By clicking, it will automatically copy itself to your clipboard.
2. Paste the public address in the required field of the app from which you send ETH. You can also directly share it with someone who is sending ETH to you.
3. Choose the amount you want to send and follow the onscreen instructions to complete the transaction.

Please keep in mind that different organizations and applications can have slightly different processes for transferring ETH, but the steps above are general for most of them.

Furthermore, we urge you to ensure that the tokens you try to send are compatible with the network you are sending to. For example, if you want to send Matic to your MetaMask, you should enter ERC-20 MATIC in the required field. Most exchanges will correct your mistake if you make any, but it never hurts to double-check!

Mobile App

Let’s now switch our focus to users who have downloaded the MetaMask mobile app:

1. Open the app and tap on your address to copy it to your clipboard.
2. Paste the address into the required field of the app you want to send tokens from.
3. Choose the amount you wish to send and confirm the transaction.

Once you complete the steps above, the tokens should instantly arrive in your MetaMask wallet.

Importing Other Tokens Into MetaMask

In addition to ETH, MetaMask allows users to transfer other ERC-20 tokens, and it has a standard list that you can find on your account page.

Nonetheless, the rise and the proliferation of new tokens on the Ethereum network means that MetaMask cannot always keep up with all developments.

For that, you can add unlisted tokens to your MetaMask wallet. Firstly, you can enable an advanced feature that automatically detects tokens held by your address and instantly adds them to your wallet.

The second, and safest option for you to add tokens is by manually completing the process. Let’s see how both web and mobile processes go.

1. Web Extension

If you want to view all your tokens, you can do so under the Tokens tab on your account. If the list doesn’t show your preferred token, then here is what you need to do:

1. Click on the Import Token at the bottom of the screen.
2. Type in the token you want to search for.
3. Find your token and click Next to proceed
4. Choose the Add Token button and you are all done!

2. Mobile App

As you may have imagined, the process of adding ERC-20 tokens to MetaMask  via mobile is very similar to the process of the web extension:

1. Open the app and click on the Import Tokens at the bottom of the homepage.
2. A search bar will appear where you will need to enter the token’s name.
3. When you find the token, tap on it and choose the Import button
4. Well done, the token is now listed under all your tokens!

Withdrawing ETH To Your Bank Account

You have decided that you want to sell your ETH holdings, so what next? Well, you need to know that you cannot directly withdraw money from MetaMask to your bank account, so you will need to rely on the services of an exchange platform. Here is how you can withdraw ETH from MetaMask in no time.

1. Create an Account at a Crypto Exchange

The first thing you need to do is sign up at a crypto exchange platform like Coinbase. The process is quite straightforward as you will need to choose your new password and enter your email. Of course, you should always opt for a strong password. Then, simply accept the terms of service and verify your ID by submitting government-issued documents.

2. Enter Your ETH Address To The Exchange

Up next, you need to find your Ethereum address on the exchange platform. Next to it, you will notice the Deposit button – click on it and choose ETH. You will now be able to view and copy the ETH address that you will need next.

3. Transfer ETH From MetaMask

For this step, you need to go to your MetaMask wallet and choose the Ethereum Mainnet field. Then, click on the Send button and you will be next required to enter the recipient.

Now, it is time to paste the copied address from the previous step on top of the screen. To complete the transaction, choose ETH under the Asset field and specify the amount you wish to send. The transaction will not take longer than an hour to be completed.

4. Sell the ETH Tokens

Once you get your ETH assets to your account, you can proceed with selling them for fiat money. Depending on the exchange, you should see a section called Spend. Click on it and choose the amount of ETH you want to convert to fiat money and the currency.

5. Withdraw The Money

You are nearly there, as you will just need to choose the Withdraw option at the exchange platform and enter the currency you want to use. Choose the payment method, specify the amount and confirm the transaction!

Withdrawing to a bank card is arguably the fastest way to transfer ETH to real money! Once again, depending on the exchange, you may receive a verification code that you will need to use to finalize the transaction.