Surely you've heard of data aggregator sites where you can compare thousands of tokens and digital assets on the market. Among the most important we have sites like Coinmarketcap and Coingecko, of which the latter now manages more than 6000 coins on over 400 exchanges. Thanks to these very useful platforms, it is possible not only to track the trend of one's own coins, but to understand on which exchange site it is convenient to make a certain operation.
These days, Coingecko has implemented a new feature related to the METAMASK wallet. However, it is appropriate to make a brief introduction to both platforms in order to better understand how they work.
Coingecko: a little intro
Coingecko is a cryptocurrency data aggregator site created in 2014 by Bobby Ong and TM Lee, who together co-founded a tool that can track price, market volume, and statistics related to the coins' development. The research is done in collaboration with Western University in Canada and Humboldt University in Berlin, with revenues running around $3 million annually.
In fact, the goal of the founders is not only to keep track of the volume and value of a given currency, as these are not the only factors that influence the market. What, according to them, can make a difference, is also the process of developing the open-source code of a given asset. In addition, community growth and important events such as the purchase of a large amount of tokens (see Bitcoin and Tesla), are additional elements that can greatly influence the performance of a cryptocurrency.
Metamask: a little intro
As many of you may know, Metamask is an Ethereum-based wallet where you can store your digital coins safely and efficiently. It is available in both desktop and mobile versions, compatible with Android and iOS devices. Among the major advantages of Metamask, we have its ease of use and its decidedly intuitive interface, making it suitable even for the average user.
Moreover, since it is almost entirely open-source code, you can modify it at will, as access is granted to all developers. What's more, you can buy cryptocurrencies quickly, back up your accounts and store your access keys locally.
A new feature on Metamask
Until some time ago, in order to add a custom token to Metamask you had to perform various operations that not only required a significant amount of time, but were also quite cumbersome. To do so, in fact, you had to manually search for the correct token and, once found, add the smart-contract and decimal values in the appropriate section.
Thanks to a recent update by CoinGecko, however, the process has been made much simpler and more intuitive. Now, in fact, you can search for the token in question within CoinGecko and, once you've decided what you want to add, simply click on the "Add to Metamask" icon, just as depicted in the image below posted by the company on Twitter.
This feature makes the process much simpler, as well as faster, and allows you to add new coins without the risk of making mistakes that, alas, could result in unpleasant consequences.
Conclusions
Adding a new token to your wallet, although it may seem trivial, can solve many problems.
If, for example, you decided to receive a certain coin (e.g. DAI), but you didn't put it in your wallet, the operation would fail and you would risk losing your money.
Therefore, it is advisable to add to your Metamask wallet the tokens that you use most often, in order to avoid unpleasant situations.
If before this process could be cumbersome, Coingecko has finally made it much easier.
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