MetaMask Bridge: How to Use and Disadvantages
MetaMask, the world’s most popular cryptocurrency wallet, has been updated to allow users to quickly get everything from buying and selling cryptocurrency to swaps and bridges within MetaMask.
At first glance, this seems very convenient, but there are pitfalls.
This article will explain in detail about bridging using such meta-masks. To learn how to bridge outside of Metamask, please refer to “12 Best Bridges in Crypto & How to Use: Why we do not recommend Metamask” article.
*What is a bridge?: Bridge in cryptocurrency means to convert, exchange, or move currency from one network to a different network. Crossing networks is also called cross-chaining.
What is MetaMask?
Metamask is the undisputed No. 1 Ethereum-based cryptocurrency wallet. Although it can be used as a smartphone app, it is often used as an extension for computer browsers such as Chrome. by extending Metamask to Chrome, you can use various Web 3.0 compatible sites and Dapps.
EVM networks compatible with Ethereum and Ethereum are available. In addition to Ethereum, other well-known compatible networks include Binance (BNB and BSC), Polygon, and Avalanche.
How to bridge with MetaMasks and how to use them
The method of bridging with a metamask is quite simple. Skip the basic operations such as initial settings of Metamask, and follow the steps below to complete the process.
STEP 1: Open MetaMask and select “Bridge”
First, open MetaMask and select “Bridge” where you see the blue circle symbols next to each other, such as Swap.
Then the MetaMask Portfolio will open.
STEP 2: Select the network and tokens
Select the source and destination networks and tokens.
- From this network: The network from which you want to exchange tokens.
- You send: the network from which you want to exchange the tokens you have
- To this network: the network of tokens you want to exchange to
- You receive: the token you want to exchange to
STEP 3: Confirm the rate and approve
Finally, confirm the rate and approve. The following bridge sites offer the best rates for meta-masks.
- Hop
- Connext
- Celer cBridge
- Polygon PoS Bridge
- Squid (Axelar)
- Across.
By selecting “Choose a different quote,” you can also check rates at other potential bridge sites.
Disadvantages and Cautions to Know Before Bridging
However, there are caveats and disadvantages to bridge with MetaMasks that you should be aware of.
Bridging is not possible on a smartphone
The smartphone app version of MetaMask does not currently allow bridging. If you want to bridge, you must use it as an extension of your computer browser.
Fees are too high
There is a commission of 0.875% (plus the bridge site commission through which you are going to bridge) for bridging on MetaMask. This is a very high commission compared to other bridge sites. For normal bridge sites, 0.1-0.5% is common, but Meta Mask is quite high and is not recommended.
For information on how to bridge other than Metamask, please refer to “12 Best Bridges in Crypto & How to Use: Why we do not recommend Metamask” article.
Summary
This is a summary of the MetaMask bridge. It is quite convenient to be able to bridge directly with MetaMask, but please note that the fees are unbelievably high compared to others.
Also, please note that at this stage it is not possible to bridge with the smartphone application.
We hope this article is helpful.
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