Optimism MetaMask Tutorial ✔️ How To Connect Optimism Network & Send ETH To MetaMask & Uniswap

In this MetaMask tutorial, I'm going to show you 
how to connect MetaMask to the Optimism layer 2   network for Ethereum so you can send funds to your 
MetaMask wallet and make transactions at a much   lower fee compared to the layer 1 Ethereum 
blockchain. I will then show you how to connect   your metamask to popular d5 apps like uni swap 
to swap and exchange for other tokens there and   as a bonus towards the end of this video i will 
show you how to earn some passive income using   your crypto assets so make sure to stick with 
me till the end but for now let's get scoping   firstly you'll need to have the metamask extension 
installed and if you don't have that yet you can   go to metamask.io and click on download now and 
follow the steps but if you need more help on   setting up your metamask account properly and 
configuring all the settings then i have this   step-by-step guide on setting up your metamask 
account and i'll link it in the description below   for you so once our metamask is set up we can 
click on the icon here then hover over the three   dots and click on that and then click on expand 
view this will bring up our metamask dashboard   and before we proceed i just want to mention that 
you don't need to have a separate wallet address   in order to add your optimism network you can 
use this exact same address here with the two   different networks however you must note that the 
funds on your ethereum mainnet will not show up   on the optimism network but if you find it easier 
to have a separate address then no problem you can   click here then go to create account then type in 
your new name and click create and you'll have a   new account in a second or if you need to recover 
your old account then you can also go to import   account and put in your private keys here as well 
so it's up to you which method you want to go for   but an important note that i need to make is that 
for all transactions above a thousand dollars or   if you want to hold more than a thousand dollars 
in a wallet then i strongly recommend you get a   hardware wallet and you can connect the hardware 
wallet here with metamask and the two supporting   hardware wallets right now is the ledger and 
the trezor i have both of these i like them   both and i've also done an individual unboxing 
and review on both of these hardware wallets   and i'll also leave links in the description 
for both of them to help you out if you need   so first of all from the dashboard there 
are two main ways of adding optimism network   to your metamask wallet for the first way you 
would just click here and go to the custom rpc   then you would have to input information into 
these five different fields and you can get that   information from this article here which i'll also 
leave a link in the description for you to help   you find it easier so we scroll down and you can 
see here these are the five fields that we need to   copy and paste into metamask so i'll do that right 
now make sure you double check that everything's   correct then click on save and now if we go back 
to our dashboard you can see we're on the optimism   network and it shows that we have zero ethereum 
and the logo is there so this most likely means   that we've done it correctly but now i'll show 
you the second way which i believe is much easier   so we just go back to our customer pc and delete 
our optimism network now you can go to a site   called chainlist.org this is an aggregation of 
all the different chains and networks available   for you to connect to with metamask so the first 
thing is i'll type in optimistic you can see there   are three options available and the one that we 
should be using is the chain id 10 which is their   main net so we click on connect wallet and then 
click on add to metamask now i suggest you click   on view all details and double check that it's 
the same information as what i showed you before   if you're happy with that close it and click 
on approve and now we click on switch network   and we go back to our metamask account now you 
can see here we're connected right back to the   optimism ethereum network so i hope you can see 
the difference between the two methods the second   one is much simpler and stop you from making 
any mistake when copying and pasting the values   so if you're finding tips like this helpful so 
far you can thank me by hitting that like button   and subscribe if you want more of these videos so 
now that we have successfully set up our optimism   network onto our metamask wallet the next step 
before we can send some ethereum from the ethereum   mainnet to optimism is to have some funds in 
our wallet so i'm going to quickly do that now   by copying my address and for this tutorial 
i'm going to be using binance it's the largest   exchange in the world and they also have low 
fees if you don't have an account yet i have   a discounted link to help you out and i'll leave 
that in the description below the link is going to   save you on every transaction fees so that can add 
up in the long run so now i've selected ethereum   and i have some usdc as you can see here and i'm 
going to be sending about a hundred dollars worth   of ethereum to my metamask account so i'll go and 
buy it and i'm just going to buy it at market rate   choose 100 click on buy eat okay now that i've 
successfully bought my ethereum i'm going to   send it over to my metamask account i'm going to 
copy my address from metamask and now i'm going   to paste the address in here and for the network 
it's very important you choose a correct network   you can see the options are bep20 and erc20 if you 
send it to the binance smart chain it's not going   to show up so in this case we need to choose erc20 
and now for the amount i'm just going to select   the max and click on withdraw click continue put 
in your verification codes now click on submit   and we can see our withdrawal request has been 
submitted successfully so now we can go back   to our metamask account and just give it a few 
minutes for the funds to arrive and there it is   my 0.459 ethereum has arrived the seven dollars 
was deducted by binance for the transfer fees   which is normal as ethereum has very high gas fees 
and that is the whole point of optimism we can see   from this article here by optimism they say that 
their fees should be reduced by 10 to 50 x when we   make our actual transfer coming up the fees should 
not exceed about one dollar let's see if they're   right so now let's go to gateway.optimism.io this 
is optimism's official website for sending your   funds over from the ethereum main chain to the 
optimism network so before we start this you   need to make sure that your metamask account is 
starting at the ethereum main net now from this   site you just click on connect wallet click on 
metamask and you can see deposit and withdraw here   quick note though if we click on withdraw this is 
going to bring up a metamask window asking us to   switch back to our optimistic ethereum network 
so we don't want to do that and click on cancel   but do note that if you want to withdraw and send 
your funds back from optimism to through your main   chain it will take you roughly a week to receive 
your funds as this is required for the safety   of your funds but towards the end of the video 
i'll show you two alternatives which you can use   to bring your funds back immediately so back from 
here i'm going to transfer 0.02 ethereum from the   mainnet to the optimistic ethereum network so 
click on deposit confirm that you're happy with   this amount click deposit again now we can 
see the real fees is going to cost around 16   this is super expensive especially for a 40 
transfer that i'm doing here but i'm going   to do it anyway and show you so now click on 
confirm now it says deposits can take up to 20   minutes before they're done so i'm going to set my 
timer here to show you exactly how long it takes and there it is my transaction has been 
confirmed and it took less than five minutes   for that to go through now you can check 
the ether scans here by clicking on these   but the most important thing is to go back to our 
metamask and change it to the optimism network and   there's our 0.02 each so our funds have arrived 
to the optimism ethereum network correctly now   i'm going to quickly show you the next two ways 
of sending your funds over to the optimism network   and the first one is to use xpollinate.io this is 
a great alternative once their platform is fully   up and running for optimism as you'll be able to 
transfer your funds from other chains like matic   phantom or binance this will save you a lot on 
the ethereum fees like you just saw i spent 17   dollars just to make one transaction but if you're 
transferring from a different chain like manic   main net then it'll cost you less than a cent so 
keep a lookout on x pollinate as they should roll   out their optimism support soon and the second 
alternative is to use hop.exchange where optimism   will be supported soon because if you go to the 
search bar and replace this app with coven and now   select the from network and you'll see optimism is 
there so covan is a test network for ethereum so   this means that hot dot exchange is almost ready 
to roll this out and by the time you watch my   video it may be there already so just remember 
x pollinate and hop dot exchange for great   alternatives for sending your funds over to the 
optimism network and they'll also be very useful   for transferring your funds back out of optimism 
into ethereum without having to wait for a week   by using their official gateway now that you know 
how to send your ethereum to the optimism network   you're now able to use decentralized exchanges 
to swap for new tokens or stake your coins to   earn some passive income and one of the most 
popular platform on ethereum right now is uni swap   so from their home page we can click on launch app 
and it'll automatically take us to the optimism   chain on the uni swap platform this means that 
you have to be connected to the optimism network   on your metamask followed here but if you switch 
back to the ethereum magnet then this page will   disappear and you'll be back on the normal uni 
swap so now we can see here our balance is 0.028   to start with which is what we have on our 
metamask wallet and now we can first go ahead   and swap for another token so if you click on 
select a token here you can see right now these   are the white listed tokens that are able to be 
swapped through the optimism network they will   gradually increase the number of tokens to match 
the standard uni swap platform but right now these   are it so in this example i'm just going to swap 
some ethereum for rap bitcoin so i'll click wbtc   and for their amount i'm going to do 0.01 and 
now you can click on swap click confirm swap   and we can see now the fee difference here this 
0.000483 each is an equivalent of about 97 cents   whereas we saw previously it's 17 on the ethereum 
main net so right now the optimism network is   almost 20 times cheaper so they're living up to 
their promise so far now let's see how quick it   is for the transfer to go through compared to the 
ethereum main chain and we click on confirm and   you can see here it's instant as you can see from 
my ether scan it went through successfully and   that took less than two seconds to go through so i 
say this is huge for ethereum as now they finally   have a scaling solution which is super fast and 
really cheap now there's my ethereum balance and   my btc balance here's a quick question for you 
what is your favorite decentralized exchange on   the optimism network is it uni swap or something 
else let me know in the comments section below   the next thing i want to show you in uni swap 
is how to earn some passive income so to do that   we're going to add liquidity and stake our token 
on unispot you can do that by going to pull and   now click on new position select your pair i have 
8 and now select wbtc i'm going to type in 0.005   for this example and in terms of impermanent loss 
and your set price range here this is a bit more   complicated i have a more in-depth tutorial 
guiding you on this for uni swap so check   that out in this tutorial if you need more help 
but for now i'm going to click on approve wbtc   once again pay the minimal gas fee of 82 cents 
click confirm now click preview and if i'm happy   with everything then click on add this will be 
the last confirmation this is about another dollar   and i'll click on confirm again and once again 
this payment was instant and took less than a   second and now you can see here we have a position 
of our ether and wbtc and now we're going to keep   earning the 0.3 fee for people trading this pair 
on uni swap if you're looking for more variety   and want to stake your other assets like bitcoin 
ethereum or other old coins as well then it is   a good idea to take advantage of these platforms 
which i'm about to show you here plus you can get   a free signup bonus worth 375 dollars so i think 
it's a no-brainer here you simply just have to   go to the links in the description below sign up 
for these platforms and start stacking your crypto   to earn your standard apy and the free bonus you 
can see here through my links blockfire will give   you a 250 bonus when you state your crypto with 
them and celsius network is going to be a fifty   dollar bonus crypto.com is also not bad at twenty 
five dollars same thing with lead end at twenty   five dollars and lastly voyager is going to be 25 
as well my favorites which i use for the long term   are blockfi celsius network and crypto.com but let 
in and voyager are still worthwhile signing up and   getting their bonus if you want more information 
and more ways to earn passive income with your   cryptocurrency then i strongly recommend you 
check out this next video here but if you still   need more help on metamask like connecting it 
to other blockchain networks then i have a full   metamask playlist here which i recommend you 
check out and i'll see you over in that next tutorial

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