Can you hold Bitcoin in MetaMask? Let's unravel the mystery

MetaMask has always been a strong player in the cryptocurrency realm because of the scope, services, and top-notch wallet features that it comes equipped with. Another feature that pulls crypto traders towards this feature is its simple and user-friendly interface. However, being a MetaMask user, you must be aware of the fact that it only supports crypto tokens that belong to the Ethereum blockchain such as ETH and ERC-20 tokens.

However, this gives way to a lot of queries in the mind of the users. One of the most common queries that have been raised by the users of MetaMask is- can MetaMask hold Bitcoin? If that is something that you are also interested to know about, then you have landed on the right page. Here, we are going to resolve this mystery and discuss some details relating to your concern.

Answering "Can MetaMask hold Bitcoin?"

The short answer to your question is "No, MetaMask cannot hold Bitcoin." The MetaMask wallet has been developed in such a way that it can only interact with the Ethereum blockchain. The wallet has been primarily used for dealing with Ethereum and ERC-20 tokens which means that the wallet can be used for storing, sending as well as receiving these crypto assets.

Hence, it would not be wrong to say that MetaMask does not support Bitcoin. However, if you have some BTC with you or planning to buy some, you may choose other wallets to store them. The crypto wallets that work best with Bitcoin are Electrum, Bitcoin Core, or you may choose the hardware wallet options as well. You can pick any of these wallets and store your assets in a safe storage space.

A short guide to add Bitcoin to MetaMask 

To add Bitcoin to your MetaMask wallet, all you need to do is follow the steps explained below:  

1. Begin by opening the MetaMask browser extension and be sure that you are on the main wallet screen.

2. Thereafter, you need to click on the account icon in the top right corner of the MetaMask window to access the "account" menu.

3. From the account menu, look for the "Add Token" option and select it.

4. In this particular section, you will see three tabs: "Search," "Custom Token," and "Tokens I've used."

5. From the given tabs, select the "Custom Token" tab.

6. On the "Custom Token" tab, you will find three input fields namely "Token Contract Address," "Token Symbol," and "Decimals of Precision."

7. To add Bitcoin, you will need to enter the correct contract address, token symbol, and decimals of precision.

Note: As we know, Bitcoin is not natively supported in MetaMask. Hence, you may use a wrapped version of Bitcoin, e.g. Wrapped Bitcoin (WBTC). It is an ERC-20 token that is pegged to the value of Bitcoin.

• To add WBTC in MetaMask, you need to enter the following details:

• Token Contract Address: 0xDA218fD737F6BBdC299c27c13418D55Da580c4a2

• Token Symbol: WBTC

8. Decimals of Precision: 8

9. Once you have fed these details, click on the "Next" button.

10. As soon as you see the confirmation message on your screen, select the "Add Tokens" button.

11. Now, the WBTC will be added to your wallet.

12. Check your wallet balance to be sure that the process went successful.

And I hope this has answered your query can MetaMask hold Bitcoin in a better way?

How to add Bitcoin Network to a MetaMask Wallet?

To add Bitcoin network to your MetaMask wallet, all you need is the apt details of the network i.e. contract address, token symbol, and decimals of precision. The details of this network as well as another network will allow you to connect it to your MetaMask wallet.

Once you have these details, you need to navigate to the "Account" menu on the MetaMask Chrome extension and then select the option referred to as "Add Token." After following a few easy prompts, you'll need to enter the details of the chosen network and the same token would be added to MetaMask.

Which wallet is best for Bitcoin? 

Based on my personal research, I have compiled a list of wallets that will work best for storing your BTC and other crypto assets.

• Trezor model T

• Ledger Nano X

• Electrum wallet

• Exodus wallet

• And Mycelium wallet

If you pick the Trezor wallet, it makes sure that the funds available in your wallet are kept highly secure. In case you are looking for a wallet that provides you with a high-level of integration, then Ledger Nano X would work best for you. On the other hand, if you trade Bitcoin on an advanced level, then the Electrum wallet would be the best for you. Meanwhile, if you are a beginner in the world of crypto, then you may consider Exodus wallet for this purpose. Apart from that, if you are looking for a wallet that works best on mobile phones, then you should go ahead with Mycelium wallet.

Read - The best way to buy cryptocurrency

Conclusion: 

In case you are wondering whether or not your MetaMask wallet can hold Bitcoin, you must have got an answer to your question. Through this article, we have tried to resolve your query on can MetaMask hold Bitcoin and given you ample pieces of information regarding the same. The detailed process to add Bitcoin to your MetaMask wallet has also been discussed here. I hope you found the post informative.