What is MetaMask and why do you need it?

By: BitCar (published on: )

BitCar, although based upon Blockchain technology, is targeted at anyone who is interested in owning a piece of a super car, as such, this article is aimed at providing you with the basic requirements to start using the BitCar platform.

"MetaMask is a bridge that allows you to visit the distributed web of tomorrow in your browser today. It allows you to run Ethereum dApps right in your browser without running a full Ethereum node" - MetaMask

Wow – could that get any more technical?!

Lets break it down, with some basic terms...

Ethereum – Without getting technical, Ethereum is a platform for building software which is distributed over a public blockchain network. (Ok we did get a little technical!) Whereas most web applications are running from a server somewhere, Ethereum is running on many thousands of computers (͚nodes͛) using blockchain technology. This allows BitCar to build an application for trading super cars, with far more security, as all transactions are recorded within the blockchain.

Ethereum dApps – Applications which are built on the Ethereum are known as dApps, or distributed applications.

Wallet – Similarly to what they do in the "real world" digital wallets hold your digital currency, such as BitCar, Ether and BitCoin. You will need a wallet to get started with the BitCar platform and there are many options – even through MetaMask (this will be covered in another article).

MetaMask – a product which hides the complexity of interactions between your wallet (which holds your BitCar) to a dApp, in a secure way within your browser (Chrome, FireFox, Opera are supported).

BitCar has decided to require the use of MetaMask for the first platform release , as we believe that the product provides the correct balance between secure access to the blockchain and technical understanding. The rest of this article will talk you through how to install MetaMask and how to add the BitCar token to your wallet if they do not appear automatically.

How to get MetaMask/ How it works:

Go to the MetaMask website. Click the correct add-in link for your browser; the instructions below are for Chrome.

  • Select ‘Get Chrome Extension'

  • You will be taken to the Chrome Extension Store, select 'Add to Chrome'.

  • In the pop-up that appears, click the 'Add extension' button.

  • Chrome will now install the extension and you should get a confirmation once this has completed, along with a little fox icon in the top -right corner of your browser.

  • Left-click on the Fox icon and select the 'try it now' to use the latest version.

  • Follow the prompts in MetaMask to enter a password and accept the terms of use. We recommend using a long password incorporating numbers, upper and lower case letters and special characters. You will need to enter this every time you login to the MetaMask extension (by left- clicking on the fox head). Please ensure if you write it down to keep it somewhere secure (we recommend not storing it on your device and treat it like a wallet full of cash)**

  • You will then be given a paraphrase that will allow you to restore your MetaMask accounts - you must write this down somewhere and again treat it like cash, it is the only way to restore your accounts if you uninstall MetaMask or lose your computer.

  • The account that is then presented to you is your first wallet and you can now use this to purchase crypto-currency

  • Close the browser window, you can left-click on the Fox head again (in the top-right of the Chrome browser) to show your accounts - this is how you will use MetaMask with the BitCar Platform.

  • If you already have another wallet you can use the MetaMask account management features to import existing wallets, please refer to the MetaMask documentation for help.

Please also watch this video from MetaMask – it uses some technical terms, but it will provide a deeper understanding of how MetaMask works.

How to Add Existing BitCar Tokens to Your Wallet

This section of the article outlines how to add BitCar tokens to MetaMask, so that they appear in your wallet once you have purchased BitCar from one of the supported exchanges, we will cover how to do this in a later article (for now it will show a balance of 0). Note: you may not have to do this if you have already purchased BitCar tokens with the selected account in MetaMask.

  • Once you have logged into the MetaMask extension, select the details button to add a token

  • Select 'Add Token'

  • Select the ‘Custom Token’ tab at the top and enter the public token address (0x08b4c866ae9d1be56a06e0c302054b4ffe067b43) (you can also copy and paste this from etherscan)

  • MetaMask should then display: Token Symbol ‘BITCAR’ with 8 decimals

  • Select the ‘Custom Token’ tab at the top and enter othe public token address (0x08b4c866ae9d1be56a06e0c302054b4ffe067b43) (you can also copy and paste this from etherscan) ** MetaMask should then display: Token Symbol ‘BITCAR’ with 8 decimals

  • Click ‘Next’

  • Once the token is confirmed, an option to add the token to your wallet will appear. Click on ‘Add Tokens.

  • BitCar will now be a token in your wallet.

The below video shows to how add BitCar into your MetaMask wallet.

*This article is a guide on how to use MetaMask, this is not advice of any kind to use this program. All password and secure phrase recommendations are only to prompt you to think about best security practices when setting up and using your wallet. BitCar cannot be held responsible for any losses resulting from the recommendations made within this article.