If you are a trader, you are probably well aware of CEX (Centralized Exchange). A platform that is used to buy, sell, and trade cryptocurrencies. But, as we know security is the name of the game in the crypto industry so to secure the purchased assets, you’ll need a crypto wallet.
In this blog post, we will discuss the entire method of moving your purchased tokens from a centralized exchange to a MetaMask wallet extension.
So, if you’re not familiar MetaMask, let me tell you that it is a crypto wallet that is used to hold your assets with standout security. The process of setting up this wallet is quite easy as well the availability of this wallet for numerous browsers and mobile makes it stand out of the crowd.
If you’re a MetaMask user and want to secure the assets that you’ve purchased through any other centralized exchange, this read is for you.
And for the ones who are not using MetaMask, hold on! Where are you going? If you also want to secure your coins, set up your MetaMask account easily and then try out the facilities of this wallet, hopefully, you will never regret your decision.
Here’s how you can move your assets from CEX to MetaMask
First, make sure you’ve purchased the assets in a centralized exchange and successfully created an account on the MetaMask wallet extension, and then can move further by following the actions mentioned further.
- Open the official website of CEX from where you want to withdraw.
- Log in to your account and look for the currency that you prefer to move.
- After picking up the coin, select the “Withdraw” option.
- Now, copy the MetaMask wallet address to the clipboard from MetaMask.
- After clicking the “withdraw”, you’ll be asked to fill in your wallet address, and fill in the copied text here.
- Ensure you have entered the accurate and complete address and select the ETH network to move further.
- Fill in the amount of assets that you want to withdraw and hit the “Submit” button.
- Now, if you have enabled the 2FA in your account, provide the code here.
- It is strongly advised to enable two-factor authentication in your account to ensure extra security if you haven’t enabled it yet.
- After this, the process of transferring your assets will begin, it can take up to 10 minutes to finalize.
Note: If you want to check if your transaction got completed or not, you can have a look at the status of your withdrawal as sometimes it may take a little longer due to network congestion.
A MetaMask wallet extension is a well-encrypted software with cutting-edge technologies used to store your purchased assets safely. You should be aware of the fact that the amenities of this wallet are not just limited here, you can avail of the other needful features such as access to the decentralized web and NFT market, support for all ETH-based tokens, and encryption with secret recovery phrase and private keys, etc.