In the past, adding a custom token to METAMASK was a somewhat difficult process that involved manually adding a token by finding the token address and manually entering it into MetaMask. Although the process worked, it could be a bit difficult to follow. As of today, CoinGecko has made it much easier for all of us to add a custom token to MetaMask simply by finding the token on their website and clicking an "add to MetaMask" icon.
Adding Tokens Is So Easy Now
In the past, adding a custom token meant that you had to find the right token on a block explorer and correctly add the token contract and decimals to the "custom token" section of MetaMask.
With the new update from CoinGeko, you simply have to find the token you want to add, click the MetaMask icon, then confirm the add in your wallet.
Why Add New Tokens?
From time to time, I receive questions from people who say that they have completed a transaction but that the funds have not arrived in their wallet. Sometimes this can be due to insufficient gas and a transaction not actually completing, so I ask them to check a blockchain explorer to see the status of a transaction. If the transaction shows as a success, but they still don't have the funds in their wallet, there could be two possibilities. First, they could have entered the wrong address. If this is the case, unfortunately, there isn't a lot that can be done to help them.
On the other hand, it is also possible that they have not added support for the token in their wallet. For example, once I lent some Dai on a decentralized platform, and the transaction showed as a success, but I did not see the interest-bearing cDai (I can't remember the exact token) in my wallet. Simply adding the cDai as a custom token in MetaMask fixed the problem and I was good to go.
Summary
I know this was a bit of a shorter article, but I thought it was important to show how easy companies like CoinGeko are making it to add custom tokens. Crypto adoption doesn't happen all at once, but each baby step we take towards making crypto easier to use is one step closer that we are to full adoption. As always, thanks for reading, and I hope the article helps!
References
https://twitter.com/coingecko/status/1358724757110276099
Image Credits
https://etherscan.io/token/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48
https://metamask.io/
https://www.canva.com/
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