If you are using a crypto wallet to keep your crypto assets safe from fraudulent activities, probably you’d be aware of the fact that you can also move your tokens back to the centralized exchange. Well! As a newcomer, you might not be familiar with crypto wallets and software and hardware crypto wallets. So, let me elaborate on them for you.
Centralized exchanges are platforms that allow their users to buy and sell cryptocurrencies easily. But, as scams and hackings are extensively taking place in the crypto market that’s why putting the purchased asset in a centralized exchange is not considered safe. So, here crypto wallets enter into the scenario. Yes! These wallets are used to provide a platform to store your purchased assets safely with high-end encryption. You can install a trusted wallet like MetaMask Wallet and then you can move your tokens from CEX to MetaMask so easily.
But what if you may want to sell your dumped assets and now, you want to move your crypto back to any decentralized exchange? Well! There is nothing to worry about as you can transfer your crypto assets from a CEX to MetaMask and vice-versa in a pretty simple way.
In this read, we will take a tour of the complete process of moving your coins from CEXs to the MetaMask Chrome Extension to make it easy for you. Let’s follow on.
Comprehensive guidance to move tokens from CEX to MetaMask
To begin this process, first, you need to make sure that you have already created a wallet in MetaMask Chrome Extension. And then if it is locked, by logging in with the password, you can begin the process of moving your purchased assets from a Centralized exchange to MetaMask Wallet.
- Begin the process by opening the trading exchange where you have assets you wish to withdraw.
- Now, proceed by logging in, and then look for the asset you wish to move.
- Next, you will see a “Withdraw” button over there, tap on it.
- You’ll be asked to provide your wallet address on the following page.
- Fill out the address accurately to mitigate the chances to lose your assets.
- Thenceforth provide the withdrawal amount and the name of the network where asked.
- Continue the process by providing the 2FA code if you have enabled 2FA in your account.
And, this is all, now your transaction will status will be changed to confirm within 1o minute. Here, after the successful transfer of tokens from CEXs to the MetaMask Chrome extension, you can sleep peacefully as your assets are secured with end-to-end encryption. In a similar manner, you can transfer the assets using the other MetaMask extensions as well.
Note: There is one thing to remember if you haven’t enabled the two-factor authentication in your centralized exchange account, do it as soon as possible as it is a necessary step to take for the security purposes of your MetaMask account.
Wrapping It Up!
MetaMask Wallet is a well-secured wallet. It does not just let you secure your assets but also allows you to transfer, exchange, or stake stored assets. If you are a regular trader and are worrying about the security of your purchased assets, MetaMask Chrome Extension can be a perfect choice. This wallet is equipped with high-quality security facets such as a secret recovery phrase, private key, and login password.
In all, MetaMask is a trusted and safe wallet so you can easily move your tokens from CEXs to MetaMask using the above-given guide. Wrapping up this read with generic advice that whenever it comes to the security of your financial assets, always do thorough research about the platform where you are going to keep your assets as it can be a scam as well.