How to use MetaMask's Swap feature to get what you want | MetaMask News (2024)

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How to use MetaMask's Swap feature to get what you want | MetaMask News? ›

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Unlike other crypto wallets out there, MetaMask is built to be privacy-first. We empower you to access, store and swap tokens, without having to worry about dapps or exchanges accessing more personal data than you've consented to give.

Does MetaMask charge a fee on Swaps? A service fee of 0.875% is automatically factored into each quote to support ongoing development to make MetaMask even better.

Yes. MetaMask is a trusted crypto wallet used by more than 30 million people worldwide, with security features like encryption, Blockaid, and seed phrases. It is, however, a hot wallet, and is best used in combination with a compatible hardware wallet.

Loss of Funds: If users lose their private keys or recovery phrases, they could permanently lose access to their funds. There's no way to recover these funds without those crucial pieces of information since MetaMask doesn't save those private keys anywhere.

If the price of the swap goes outside of the allowed slippage set (typically 2-3%), it will fail, in order to prevent you from seeing a huge variance in value when completed.

Select the token you want to swap to (example: DAI) Enter the amount of the token you want swapped. Select “Get Quotes” Review swap information and select “Swap” to confirm transaction.

Do I need ETH to swap on MetaMask? ›

Yes, you need to have ETH in your wallet to pay for gas fees if you're swapping on the Ethereum network. However, there are plenty of other options also for using the swap feature in Metamask.

Crypto swapping is basically directly converting your assets to another currency to either build a portfolio, cut losses, use crypto as payment, or avoid slippage costs or other high transaction fees. Crypto exchange, on the other hand, is for buying and/or selling crypto.

The MetaMask transaction fee of 0.875%

Click on the fee, and a menu will appear with a slider, and another option to click on 'Advanced Options'. The slider lets you pick between three options that describe how much gas you want to pay: 'Low' involves paying less for gas, and most likely waiting longer for your transaction to complete.

The main reason why your swap might have failed is likely to be slippage. When you perform a swap, you are agreeing to a price quote. If the price of the swap goes outside of the allowed slippage set (typically 2-3%), it will fail, in order to prevent you from seeing a huge variance in value when completed.

From the wallet view, tap the account selector located centrally, at the top of the screen. Here you'll see each of your previously created or imported accounts; tap to switch to the one you need.