MetaMask Swaps Says Hello to Portfolio Dapp and L2 networks Arbitrum and Optimism | MetaMask News (2024)

FAQs

Why is MetaMask swap not working? ›

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.

MetaMask is a web3 wallet that allows you to manage your digital identity and assets, and access decentralized applications (dapps). MetaMask Portfolio is a dapp (decentralized application) that you sign into using MetaMask, allowing the dapp to access and display your account details and balances.

From the list of pre-installed networks on MetaMask, you can add Optimism directly (outlined in black), or proceed to enter details by clicking Add a network manually. In the form that pops up, fill in the following details. Click Save to complete. You can now switch to the Optimism network when needed.

It's super convenient and straightforward, and drastically reduces the number of steps needed, and the amount of exposure to third-party smart contracts, in order to obtain tokens that interest you. You can use MetaMask Swaps either on MetaMask Extension, MetaMask Mobile, or MetaMask Portfolio.

A swap can fail because of a sudden shift in the exchange price between the cryptocurrencies you're trying to swap. We recommend waiting at least 60 seconds before retrying the transaction.

MetaMask Swaps is not available on every network. If it is available on a network, the button will allow you to proceed. The team is investigating options on a path forward for additional networks. If and when that time comes, you will automatically see it reflected in the app and extension.

Explore other competing options and alternatives. Other important factors to consider when researching alternatives to Metamask include user experience and integration. The best overall Metamask alternative is Zengo Wallet. Other similar apps like Metamask are Coinbase Wallet, Trust Wallet, Exodus, and Coinomi.

What are the disadvantages of MetaMask? MetaMask is a hot wallet. That means it's connected to the internet at all times, which increases the security risk for your crypto. Unless you're trading, it's best to store your keys in an offline wallet.

MetaMask is the leading self-custodial wallet. The safe and simple way to access blockchain applications and web3. Trusted by millions of users worldwide.

The main technical difference between the two chains is that Optimism uses single-round fraud proofs while Arbitrum uses multi-round fraud proofs. In normal English, this means Optimism's method is faster but potentially more expensive due to higher gas fees because it's executed on the L1.

Does MetaMask support L2? ›

MetaMask Swaps just got better by enabling swaps on Layer 2 (L2) networks, Arbitrum and Optimism.

MetaMask is one of the most popular web3 wallets used to access Ethereum and EVM-compatible blockchains, including Arbitrum.

MetaMask is safe and legit — it is trusted by more than 30 million users across the globe! When using any wallet, you should take steps to protect your cryptocurrency from hacks and malicious requests.

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.

Sell the Crypto: On the exchange, sell your crypto for fiat money (USD, EUR, etc.). Link Account: Ensure your bank account is linked to the exchange. Withdraw Fiat to Bank: Select Fiat on the exchange and choose to withdraw. Enter the amount and confirm the withdrawal.

Error: The swap fails due to exceeding the slippage tolerance. Explanation: Slippage refers to the potential difference between the estimated price you see initially and the actual price executed on the blockchain. To protect users from significant price swings, there is a default slippage tolerance (often 0.5%).

This happens because of the updated MetaMask Wallet API — the Ankr Staking-related networks you added prior to the MetaMask update stopped working correctly. To fix this problem, all you need to do is to delete the networks you added earlier, than add them back again.

EVM: The swap will fail if the slippage range exceeds the quoted price you agreed upon when initiating the swap. You can retry the swap after some time or enter a higher value of slippage manually. Note: You can adjust the slippage in our swapper section, read more about it here.

If you sent a transaction, and it failed, the most likely cause is a lack of gas: you "ran out of gas", in other words, the transaction had a cost in gas that, when multiplied by the gas price, resulted in a total amount of the network's native currency that was greater than what you had in your wallet.