July 12, 2021 | Updated March 7, 2024
If you’ve been exploring blockchain applications and platforms in the wonderful world of web3, you’ve probably heard of Metamask.
With its orange fox logo, MetaMask is one of the most popular crypto wallets today, and certainly the most famous hot wallet to date. However, to use MetaMask securely, it is good practice to use it in combination with a hardware wallet such as a Ledger device.
But before we get there, let’s dive into the basics. In fact, what is MetaMask all about?
MetaMask is a non-custodial software crypto wallet that operates cross-chain. To explain what that means, let’s break it down.
So first, MetaMask is non-supervisory: it allows you to control and manage your own private keys. Unlike a bank or a wallet on a crypto exchange, MetaMask has no power over the funds in your account. As long as you are the only one with access to those private keys, you are the sole owner and manager of your account.
Next, it’s cross-chain. MetaMask allows you to manage accounts on multiple networks, including Ethereum, Binance Smart Chain, and Polygon. Specifically, MetaMask supports EVM chains, and may even branch to other networks in the future.
Finally, it is a software wallet, also known as a hot wallet. It simply works via software that you download and install on your web2 device, such as a smartphone or laptop. It stores your private keys on that host device, which is very convenient for sending transactions to the blockchain. However, this feature also affects your security. To understand how you can reduce this risk, let’s first dive into what MetaMask is for.
What is MetaMask for?
MetaMask is designed for interaction with blockchain applications and smart contracts, including DeFi platforms and NFT Marketplaces. To clarify, most decentralized applications (dApps) and decentralized finance (DeFi) protocols only support a few different wallets, and often MetaMask will make that short list.
There are countless blockchain apps and platforms you can connect to with Metamask, with almost too many features and genres to mention, but here are a few things you can do with MetaMask:
MetaMask Crypto Wallets: How to Reduce Risks
But as with any good thing, using MetaMask comes with some risks.
Essentially, software wallets, including MetaMask, generate and protect your private keys on your host device, such as your smartphone or laptop. Unfortunately, your web2 devices are not designed to store private keys, so using a crypto wallet on these types of devices can leave you vulnerable to online threats. Since your web2 device connects to the Internet and is vulnerable to malware, you can’t always trust its screen. Additionally, signing a transaction also carries a risk as your web2 device risks exposing your private keys via your internet connection.
For these reasons, MetaMask also recommends that you use a hardware wallet along with its software wallet if you own a significant amount of crypto. Fortunately, you can use your Ledger device with your MetaMask wallet to get the best of both worlds. Yes, you can combine the Web3 agility of MetaMask with the offline security of a hardware device.
In general, using a hardware wallet is the most secure way to store the private keys. This is because they store your private keys and sign transactions offline. This guarantees that no one on the internet can access it. By connecting an account on your Ledger with a Metamask wallet, you can protect your private keys, sign transactions offline and still have access to all the applications and platforms you want.
Essentially, it provides you with a physical U2F. To clarify, you will need to physically connect your Ledger device to your computer. Then you will have to confirm every transaction on the physical device every time you initiate it through MetaMask. As you can guess, this makes the hackers’ job quite difficult. This is what makes using the combination of MetaMask and Ledger so secure.
How to configure metamask to connect to ledger
First, get yourself a Ledger hardware wallet to protect your private keys. Ledger devices come with a companion app called Ledger Live (available on mobile and desktop), which gives you a secure gateway to all your crypto services and is free to download.
From there you will also need to install MetaMask. You have two options: either you install its browser extension, compatible with Chrome, Firefox, Brave and Edge, or its mobile app.
However, make sure to download the wallet from the official Metamask website as fake wallet apps are a known scam that can target you.
Once you’ve sorted those elements, you’re ready to begin. Here’s a step-by-step guide on how to set it up:
Open Ledger Live and click on “Accounts” on the left. Create your Ethereum account by clicking ‘Add an Ethereum Account’ Open Metamask to set up a new wallet. Here you will then face an important question: create a new wallet or import an existing wallet. Select here to create a new wallet. We will explain why below. Approve the following page: this is related to sharing data with MetaMask Create a password when prompted on the page that follows: this will be your login credentials for every time you want to use MetaMask in the future. On the next screen, you will receive the recovery phrase words for your MetaMask wallet. Once you’ve confirmed that you’ve seen and recorded this phrase, your MetaMask setup is complete.
What seed phrase (secret recovery phrase) do I use?
You may be wondering at this point what the difference is between the MetaMask seed phrase and the one you received when you first set up your Ledger device.
The answer is quite simple. Each phrase serves as a master key for a separate set of addresses on the blockchain. The difference is that your Ledger seed phrase has never been exposed online, whereas you can’t say the same for any software wallet seed phrase.
To clarify, software wallets generate, store and manage your seed phrase while connected to the internet. So if you disclosed it to a bad actor, you won’t know until they have access to your wallet. Therefore, it is always best practice not to keep valuable assets in any wallet that stores your keys and seed phrase on an internet connected device. Instead, you should protect these sensitive pieces of information with your hardware wallet and leave all the interface and connectivity tasks to your software wallet.
So how do we use these two wallets together while taking advantage of the best features of both?
How to connect your ledger to metamask
With all that clear, let’s walk through the steps of how you can connect Ledger to MetaMask, to enjoy seamless transactions while your keys stay completely offline.
Step 1. Connect your Ledger device to your computer device with a USB cable. Also, open your MetaMask wallet in full screen on your browser. You can do this by logging in with the password you just set up.
Step 2: Click on the top right menu of the MetaMask wallet and then find and click on “Connect Hardware Wallet” in the drop down menu.
Step 3: When you click “Continue”, MetaMask will search for a Ledger device connected to the computer. So, to make sure it discovers your wallet, unlock your Ledger device.
Step 4: Once it discovers your wallet, it will ask you to select a Ledger account that you want to connect to MetaMask. Select an existing account or create one in Ledger Live and select it.
Step 5: Click the “Ethereum app” on your device screen, then click “settings” and turn on “blind signing” (please make sure you are aware of the risks associated with blind signing). Otherwise it will not work properly.
Step 6: Open the MetaMask window, click on the account logo in the upper right corner, scroll down to “settings” and click. Then click on “advanced settings”, scroll down and turn on “WebHID”.
Voila! This will allow you to view your Ledger wallet balance on your MetaMask extension or mobile app. You will also be able to transact across all blockchain applications that support MetaMask. The only thing you need is to connect your Ledger wallet to your device, open Ledger Live, verify and sign the transactions.
Step 7: Enjoy your ride: you can now interact with your favorite dApps with the security of your hardware wallet.
If you’re having any problems or feeling a bit lost, this support page might be of help.
From 2024 you also have the option to connect your Ledger Nano X to MetaMask Mobile! To learn more and start connecting your wallets for great ease of use, check out the support page.
Metamask and ledger: accessible and secure
If you want to explore the wonderful world of web3, you’ll want to do it in style and security. With the MetaMask browser extension or mobile app, you have access to a plethora of blockchain applications and services, including all the top DeFi platforms, countless NFT marketplaces, and even NFT coin platforms. MetaMask is one of the most supported wallets in the web3 ecosystem.
Then the Ledger Security model guarantees that its devices and software work seamlessly. Your Ledger appliance protects your private keys in an isolated environment, away from your Internet connection and the remote attack vector it represents. And of course, their latest physical components mean that Ledger devices are also resistant to physical hacks. In short, your Ledger device is all about security, and your MetaMask wallet is all about connectivity. The cherry on top is that you can use these wallets together to get the best of both worlds.
So what are you waiting for? Download MetaMask and protect it with your Ledger device to interact with web3 applications and platforms with self-preservation and security on your side.
Knowledge is power.
Disclaimer for Uncirculars, with a Touch of Personality:
While we love diving into the exciting world of crypto here at Uncirculars, remember that this post, and all our content, is purely for your information and exploration. Think of it as your crypto compass, pointing you in the right direction to do your own research and make informed decisions.
No legal, tax, investment, or financial advice should be inferred from these pixels. We’re not fortune tellers or stockbrokers, just passionate crypto enthusiasts sharing our knowledge.
And just like that rollercoaster ride in your favorite DeFi protocol, past performance isn’t a guarantee of future thrills. The value of crypto assets can be as unpredictable as a moon landing, so buckle up and do your due diligence before taking the plunge.
Ultimately, any crypto adventure you embark on is yours alone. We’re just happy to be your crypto companion, cheering you on from the sidelines (and maybe sharing some snacks along the way). So research, explore, and remember, with a little knowledge and a lot of curiosity, you can navigate the crypto cosmos like a pro!
UnCirculars – Cutting through the noise, delivering unbiased crypto news