How to store Bitcoin on MetaMask?

MetaMask is a well-known wallet for Ethereum-enabled distributed applications (dApps). But can MetaMask hold Bitcoin (BTC), which remains the largest cryptocurrency?

For many crypto investors, Bitcoin is an important part of their portfolio. Besides being an investment asset, Bitcoin can also be used as a payment method. Thanks to wallets such as MetaMask, paying via blockchain technology has become much easier. This Ethereum crypto wallet enables millions of investors to participate in everything the crypto market has to offer. Even though Ether (ETH) is a very popular means of payment, most people buy Bitcoin.

How to wrap Bitcoin?

There are several ways to wrap your Bitcoin. Let’s take Binance as an example. On Binance, BTC and wBTC are two different tokens, so you can trade them. By clicking on “Classic” in the Trade section of Binance, you will be taken to the exchange’s trading platform. Here you can find the trading pair with both Bitcoin tokens. Here you can enter how many WBTC you want to buy and confirm this by clicking on Buy WBTC.

What if you don’t see your wBTC in your MetaMask? You can easily change this by adding the wBTC token using the steps below:

MetaMask wallet address

To put your wBTC to work, the wallet address of your MetaMask is very important and easy to find. By opening the application and logging in, you will arrive at the main MetaMask screen. Under your account name, you will find your unique code, which acts as your address. This address can be used to receive crypto.

You can share this code with others, but never share the other codes with anyone. Your login and recovery data are meant to protect your assets. If others get these codes, they can abuse them and cause you to lose your crypto assets.

MetaMask alternatives

MetaMask is a popular software wallet, but there are also alternative options. Because of all the different blockchains, several wallets are suitable only for a specific blockchain. Two examples are the Yoroi wallet of Cardano and the Phantom wallet of Solana.

Several software wallets are suitable for the ERC-20 tokens on the Ethereum blockchain. The advantage of MetaMask is that you can use it through websites and the app. This is where MetaMask distinguishes itself from its competitors.

The Trust Wallet, for example, is a much respected software wallet, which can be used as a mobile application as an alternative to MetaMask. The MyEtherWallet and Mist Wallet, two website wallets that accept ERC-20 tokens, are also popular MetaMask alternatives.

Although MetaMask is the most popular all-around software wallet, it never hurts to use multiple wallets. Using different wallets is a type of risk management strategy. By using multiple wallets, you will not lose all your crypto assets when only one wallet is hacked.