Metamask allows users to add custom tokens to their wallet, as well. With the help of this facility, users can add other cryptocurrency tokens to their wallet that are not automatically listed or recognized by MetaMask. To do so, you need to follow a simple process that is described in the upcoming section.
Here is how you can add or import custom tokens to your wallet.
- Open MetaMask.
- Scroll down and click “Import Tokens”.
- Go to the “Custom Token” tab.
- Enter the tokens:
- Contract address
- Token symbol (like ABC)
- Decimals of precision (usually 18)
- Click Add Custom Token and then Import Tokens.
Where to Find the Token Details You Want to Add to MetaMask?
Metamask doesn’t have data about every token. This fact is highly applicable when you are intending to add a custom token to your MetaMask wallet. In that case, you have to find the details on your own and add them to the custom token tab. This information includes three key details such as Token Contract Address, Token Symbol, and Decimals of Precision. So, here are some resources where you can find the concerned token details:
From the Token’s Official Website
Visiting the official site is the most reliable way to find the authentic details about the desired tokens you are looking to import into your wallet.
From a Block Explorer
The second reliable option you have where you can find the key token details is a block explorer website. It searches your blockchain data, such as transactions, tokens, addresses, and more. The popular examples of block explorers are:
- Etherscan.io – For tokens on the Ethereum blockchain
- BscScan.com – For tokens on Binance Smart Chain
By using some of the websites, you can find the true details of the tokens like USDT that include contract address, symbol, and decimals. From here, you can use these to your custom token tab and securely process the transactions.
What are the Different Types of Tokens?
There are different types of cryptocurrency tokens that are used for different purposes and processes. For example, you can use Ethereum (ETH) to pay gas fees, or you can add a USDT token to MetaMask to check your balance. Based on this, here are some key types of Tokens:
- Security Tokens – Represent ownership or investment.
- Governance Tokens – Allow users to vote on decisions in decentralized projects.
- Utility Tokens – Give access to a product or service.
- NFTs (Non-Fungible Tokens) – Unique tokens for digital collectibles/art (ERC-721, ERC-1155).
- Stablecoins – Pegged to a stable asset like the USD.
What are the Differences Between Coins and Tokens?
Coins and tokens serve various transaction purposes in the world of cryptocurrency. Something they are used to and exchange for one another, but both have huge differences from each other. For example, coins have their own blockchains, such as Bitcoin runs on the Bitcoin blockchain, and Ether runs on the Ethereum blockchain. Coins are used as digital money or a store of value, which can be used for goods and services or used as investment assets or paying for network fees.
On the other hand, tokens are built on existing blockchains through platforms like Ethereum. Tokens are used for various purposes such as providing access to a product or service, representing investment contracts or shares, allowing users to vote in decentralized protocols, and more. Token creation uses smart contracts on popular platforms like Ethereum and Binance. Popular examples of tokens are Uniswap (UNI), Chainlink (LINK), USDT (Tether), etc.
