New to MetaMask help

[very_452001]

Hi,

Metamask settings:

- What is Use Blockies Identicon?

- Show Conversion on Testnets?

- Use Token Detection?

Any other settings that I can change to optimise metamask at cheapest fees?


Lastly I added Polygon to MetaMask, what next? How do I use the Polygon network for cheaper fees when sending/receiving ERC-20 tokens?

[1714046930]

1714046930

[Bitcoin_Arena]

- What is Use Blockies Identicon?

They are security graphical representations of an Ethereum address. They help a user to easily identify a specific address they're maybe willing to make transactions.

- Show Conversion on Testnets?

To show the fiat currency amounts of the coins in testnets

- Use Token Detection?

This feature helps to automatically detect  and show tickers of newly added tokens into the metamask wallet, minus having to do it manually.

Any other settings that I can change to optimise metamask at cheapest fees?

I doubt. But there is a way of adjusting the fee right before the broadcast, the transaction

Lastly I added Polygon to MetaMask, what next? How do I use the Polygon network for cheaper fees when sending/receiving ERC-20 tokens?

You can't send erc20 tokens through polygon network. You first have to convert them to tokens supported in the polygon network to be able to enjoy less fees

[GreatArkansas]

Any other settings that I can change to optimise metamask at cheapest fees?

I doubt. But there is a way of adjusting the fee right before the broadcast, the transaction

+1. Most of the functions on the settings of Metamask are only display settings of the extension except on the Network part which you can add other chains. Settings for transaction fees on the Settings page is impossible as for sure they built it to be reusable to other chains too.
Adjusting before broadcasting is always the way to change it and I believe it is not difficult to do before doing transaction. 

[very_452001]

Any other settings that I can change to optimise metamask at cheapest fees?

I doubt. But there is a way of adjusting the fee right before the broadcast, the transaction

+1. Most of the functions on the settings of Metamask are only display settings of the extension except on the Network part which you can add other chains. Settings for transaction fees on the Settings page is impossible as for sure they built it to be reusable to other chains too.
Adjusting before broadcasting is always the way to change it and I believe it is not difficult to do before doing transaction. 

I heard that sending a erc-20 token on metamask on default fee speed service or higher fee priority faster speed service, can result in failed transactions because metamask is not really a ethereum wallet but a web3 interface instead. So sender doesn't get gas fee refunded for failed transactions. Is this true?

Heard it from shiba inu reddit where thousands of users there use metamask for the new shiba inu NFT's but couldn't get them yet still have to pay gas fees for failed transactions

- What is Use Blockies Identicon?

They are security graphical representations of an Ethereum address. They help a user to easily identify a specific address they're maybe willing to make transactions.

- Show Conversion on Testnets?

To show the fiat currency amounts of the coins in testnets

- Use Token Detection?

This feature helps to automatically detect  and show tickers of newly added tokens into the metamask wallet, minus having to do it manually.

Any other settings that I can change to optimise metamask at cheapest fees?

I doubt. But there is a way of adjusting the fee right before the broadcast, the transaction

Lastly I added Polygon to MetaMask, what next? How do I use the Polygon network for cheaper fees when sending/receiving ERC-20 tokens?

You can't send erc20 tokens through polygon network. You first have to convert them to tokens supported in the polygon network to be able to enjoy less fees

Any erc20 token can be converted to the polygon chain?

If there is a risk of lets say for example polygon network being hacked then I risk losing all my erc20 tokens that I converted and held on the polygon chain?

To convert polygon token back into erc20 tokens again is it expensive?

Which CEX centralised services and centralised exchanges support the polygon chain for deposits? If i send a polygon chain token to a Ethereum address then i will forever lose my tokens?

So metamask is designed for decentralized exchanges that support polygon chain?

How long the token chain conversion usually takes?


Bump any advice?

[moderator's note: consecutive posts merged]

[Anonylz]

Not any erc20 but only the ones that support polygon chain,

If there is a risk of polygon chain being hacked I believe your tokens will be safe provided they are held in your metamask wallet,

The fees to convert back will be determined by the bridge network,

I don't know which cex support deposit of polygon chain,

Metamask is for dex not just for polygon chain since you can add different network to it,

Token conversion time depends on the network, it can be faster or a little longer.

[hugeblack]

you need  to use CEX such as OKEx (okex.com) they support withdrawals of stablecoins using PolyChain and the fees are low.
You can find trading pairs that are allowed to withdraw and you can use any other central platform.
Before doing the withdrawal order, you must add Matic balance to your address.

If there is a risk of polygon chain being hacked I believe your tokens will be safe provided they are held in your metamask wallet,

AFAIK, the last PolyNetwork hacked is something different from PloyChain. (There is a similarity in the names, one of them is a central platform and the second is a 2-Layer on ETH blockchain.

[very_452001]

Not any erc20 but only the ones that support polygon chain,

If there is a risk of polygon chain being hacked I believe your tokens will be safe provided they are held in your metamask wallet,

The fees to convert back will be determined by the bridge network,

I don't know which cex support deposit of polygon chain,

Metamask is for dex not just for polygon chain since you can add different network to it,

Token conversion time depends on the network, it can be faster or a little longer.

Okay how do I find out whether a erc20 token can be ported over to the polygon chain?

A bridge network is separate to polygon like a different chain?

you need  to use CEX such as OKEx (okex.com) they support withdrawals of stablecoins using PolyChain and the fees are low.
You can find trading pairs that are allowed to withdraw and you can use any other central platform.
Before doing the withdrawal order, you must add Matic balance to your address.

If there is a risk of polygon chain being hacked I believe your tokens will be safe provided they are held in your metamask wallet,

AFAIK, the last PolyNetwork hacked is something different from PloyChain. (There is a similarity in the names, one of them is a central platform and the second is a 2-Layer on ETH blockchain.

Just to clarify I require Matic in metamask wallet to deposit into it and withdraw from it?

How do I find on coinmarketcap or coingecko which trading pairs on Centralized exchanged support the polygon deposits/withdrawals?

[moderator's note: consecutive posts merged]

[hugeblack]

Just to clarify I require Matic in metamask wallet to deposit into it and withdraw from it?

After setup Matic using Custom RPC and adding Matic Mainnet settings you will be connected to the Polygon / Matic mainnet with your Metamask Wallet!

click on Polygon then deposit and copy address.
you need to deposit Matic (1-20) which is enough to do hundreds, maybe thousands, of transfers.

How do I find on coinmarketcap or coingecko which trading pairs on Centralized exchanged support the polygon deposits/withdrawals?

check this ---> https://withdrawalfees.com/coins/matic-network.

OKEx is the best because of non-kyc, FREE WITHDRAWAL fees, and 0 MATIC fees.

[very_452001]

Just to clarify I require Matic in metamask wallet to deposit into it and withdraw from it?

After setup Matic using Custom RPC and adding Matic Mainnet settings you will be connected to the Polygon / Matic mainnet with your Metamask Wallet!

click on Polygon then deposit and copy address.
you need to deposit Matic (1-20) which is enough to do hundreds, maybe thousands, of transfers.

How do I find on coinmarketcap or coingecko which trading pairs on Centralized exchanged support the polygon deposits/withdrawals?

check this ---> https://withdrawalfees.com/coins/matic-network.

OKEx is the best because of non-kyc, FREE WITHDRAWAL fees, and 0 MATIC fees.

Ok how do you know and check which erc20 tokens can be ported over to the polygon chain?

[very_452001]

Coming back here.

What is Blind Signing Smart Contracts risks in MetaMask and how do I prevent this security risk in my metamask wallet and is there other settings I can change to increase the metamask wallet security?

[vv181]

Ok how do you know and check which erc20 tokens can be ported over to the polygon chain?

You can use Polygon bridge from their website. But if you want more options I suggest you read their docs about the wallet and bridge: https://docs.polygon.technology/docs/faq/wallet-bridge-faq/

How do I bridge assets across chains?#

https://wallet.polygon.technology/bridge/ (ETH <-> Polygon)
https://xpollinate.io/ (BSC <-> Polygon <-> xDai)
https://exchange.chainswap.com/ (ETH <-> Polygon/BSC)
https://anyswap.exchange/bridge (ETH <-> Polygon <-> BSC/xDai)
https://app.0.exchange/#/home(ETH <-> Polygon <-> Avalanche <-> BSC)

To add, we do not endorse any external services, please make sure to always do your own research

[very_452001]

Ok how do you know and check which erc20 tokens can be ported over to the polygon chain?

You can use Polygon bridge from their website. But if you want more options I suggest you read their docs about the wallet and bridge: https://docs.polygon.technology/docs/faq/wallet-bridge-faq/

How do I bridge assets across chains?#

https://wallet.polygon.technology/bridge/ (ETH <-> Polygon)
https://xpollinate.io/ (BSC <-> Polygon <-> xDai)
https://exchange.chainswap.com/ (ETH <-> Polygon/BSC)
https://anyswap.exchange/bridge (ETH <-> Polygon <-> BSC/xDai)
https://app.0.exchange/#/home(ETH <-> Polygon <-> Avalanche <-> BSC)

To add, we do not endorse any external services, please make sure to always do your own research

Okay does it support all ERC20 tokens, if not where can I find a list showing which erc20 tokens are compatible with polygon?

[libert19]

Ok how do you know and check which erc20 tokens can be ported over to the polygon chain?

You can use Polygon bridge from their website. But if you want more options I suggest you read their docs about the wallet and bridge: https://docs.polygon.technology/docs/faq/wallet-bridge-faq/

How do I bridge assets across chains?#

https://wallet.polygon.technology/bridge/ (ETH <-> Polygon)
https://xpollinate.io/ (BSC <-> Polygon <-> xDai)
https://exchange.chainswap.com/ (ETH <-> Polygon/BSC)
https://anyswap.exchange/bridge (ETH <-> Polygon <-> BSC/xDai)
https://app.0.exchange/#/home(ETH <-> Polygon <-> Avalanche <-> BSC)

To add, we do not endorse any external services, please make sure to always do your own research

Okay does it support all ERC20 tokens, if not where can I find a list showing which erc20 tokens are compatible with polygon?

Not all erc20 are on polygon, you can see list here: https://polygonscan.com/tokens

Confirm with project support before trading, there tend to be impersonating tokens too.

[very_452001]

Ok how do you know and check which erc20 tokens can be ported over to the polygon chain?

You can use Polygon bridge from their website. But if you want more options I suggest you read their docs about the wallet and bridge: https://docs.polygon.technology/docs/faq/wallet-bridge-faq/

How do I bridge assets across chains?#

https://wallet.polygon.technology/bridge/ (ETH <-> Polygon)
https://xpollinate.io/ (BSC <-> Polygon <-> xDai)
https://exchange.chainswap.com/ (ETH <-> Polygon/BSC)
https://anyswap.exchange/bridge (ETH <-> Polygon <-> BSC/xDai)
https://app.0.exchange/#/home(ETH <-> Polygon <-> Avalanche <-> BSC)

To add, we do not endorse any external services, please make sure to always do your own research

Okay does it support all ERC20 tokens, if not where can I find a list showing which erc20 tokens are compatible with polygon?

Not all erc20 are on polygon, you can see list here: https://polygonscan.com/tokens

Confirm with project support before trading, there tend to be impersonating tokens too.

Okay the ones in that list in that link are the genuine legit ones? Not the impersonating ones?

[libert19]

Ok how do you know and check which erc20 tokens can be ported over to the polygon chain?

You can use Polygon bridge from their website. But if you want more options I suggest you read their docs about the wallet and bridge: https://docs.polygon.technology/docs/faq/wallet-bridge-faq/

How do I bridge assets across chains?#

https://wallet.polygon.technology/bridge/ (ETH <-> Polygon)
https://xpollinate.io/ (BSC <-> Polygon <-> xDai)
https://exchange.chainswap.com/ (ETH <-> Polygon/BSC)
https://anyswap.exchange/bridge (ETH <-> Polygon <-> BSC/xDai)
https://app.0.exchange/#/home(ETH <-> Polygon <-> Avalanche <-> BSC)

To add, we do not endorse any external services, please make sure to always do your own research

Okay does it support all ERC20 tokens, if not where can I find a list showing which erc20 tokens are compatible with polygon?

Not all erc20 are on polygon, you can see list here: https://polygonscan.com/tokens

Confirm with project support before trading, there tend to be impersonating tokens too.

Okay the ones in that list in that link are the genuine legit ones? Not the impersonating ones?

It will be mix, check the volume next to token, if it's several thousand or million, it will be legit one. Still, do confirm with project support.

[very_452001]

Bump anyone can help on the following:

What is Blind Signing Smart Contracts risks in MetaMask and how do I prevent this security risk in my metamask wallet and is there other settings I can change to increase the metamask wallet security?

[vv181]

There is an explanative article about Blind Signing by Ledger, but yea, it is from Ledger, so there's some marketing in the article. Though, I believe it will give you a scatch of the surface about Blind Signing.

Here is the link: Crypto’s Greatest Weakness? Blind Signing, Explained

[very_452001]

There is an explanative article about Blind Signing by Ledger, but yea, it is from Ledger, so there's some marketing in the article. Though, I believe it will give you a scatch of the surface about Blind Signing.

Here is the link: Crypto’s Greatest Weakness? Blind Signing, Explained

Just to clarify hardware wallets eliminates blind signing risks? If so that means all transactions and signing contracts outside the hardware wallet involves blind signing risk?

I'm sure most of de-fi users are not hardware wallet owners or are they to prevent blind signing risks?

[vv181]

There is an explanative article about Blind Signing by Ledger, but yea, it is from Ledger, so there's some marketing in the article. Though, I believe it will give you a scatch of the surface about Blind Signing.

Here is the link: Crypto’s Greatest Weakness? Blind Signing, Explained

Just to clarify hardware wallets eliminates blind signing risks? If so that means all transactions and signing contracts outside the hardware wallet involves blind signing risk?

I'm sure most of de-fi users are not hardware wallet owners or are they to prevent blind signing risks?

The essence of blind signing is that you are trusting any hardware, application, software, contract, dApps, wallet, etc to do its job without you being able or did not fully verify it.

And the article part you referred to is assuming the user monitor device are compromised, therefore by signing or executing any contract outside HW you are blind signing it since you can't truly verify what does the contract actually shows. It is worth noting that HW does not eliminate blind signing as a whole.

To be specific about blind signing a smart contract, let's take an example by Squid Game Token, most of them got rug-pulled because they can't swap the token is blind signing the contract, they did not verify the token contract instead they assume the token will behave like every other token who are trusted.

I think one of the best ways to minimize a blind signing is to verify any contract execution by yourselves, make sure you are dealing with the correct Dex, make sure you are interacting with the right contract, etc.

[very_452001]

There is an explanative article about Blind Signing by Ledger, but yea, it is from Ledger, so there's some marketing in the article. Though, I believe it will give you a scatch of the surface about Blind Signing.

Here is the link: Crypto’s Greatest Weakness? Blind Signing, Explained

Just to clarify hardware wallets eliminates blind signing risks? If so that means all transactions and signing contracts outside the hardware wallet involves blind signing risk?

I'm sure most of de-fi users are not hardware wallet owners or are they to prevent blind signing risks?

The essence of blind signing is that you are trusting any hardware, application, software, contract, dApps, wallet, etc to do its job without you being able or did not fully verify it.

And the article part you referred to is assuming the user monitor device are compromised, therefore by signing or executing any contract outside HW you are blind signing it since you can't truly verify what does the contract actually shows. It is worth noting that HW does not eliminate blind signing as a whole.

To be specific about blind signing a smart contract, let's take an example by Squid Game Token, most of them got rug-pulled because they can't swap the token is blind signing the contract, they did not verify the token contract instead they assume the token will behave like every other token who are trusted.

I think one of the best ways to minimize a blind signing is to verify any contract execution by yourselves, make sure you are dealing with the correct Dex, make sure you are interacting with the right contract, etc.

Okay when you say user monitor device are compromised increasing the risk of blind signing, do you mean the ledger hardware wallet device? Ledger claims their hardware wallet stops blind signing so what do you mean when you mentioned HW does not eliminate blind signing?

How do investors that do not know coding or programming able to verify a smart contract to see if there is any dodgy codes written?

How do you verify contract execution by ourselves and making sure we are interacting with the right contracts?