How To Transfer From MetaMask To BlockFi 2022

MetaMask has a lot of promising features for decentralized internet security, including simplified blockchain transactions, dynamic password storage and secure cryptocurrency wallets.

However, MetaMask is not a crypto exchange in and of itself, and you may want to take advantage of different crypto platform's features, such as BlockFi's interest-earning accounts and crypto-backed loans.

MetaMask also operates entirely on the Ethereum blockchain, which means you can't swap your crypto out for fiat currencies like USD inside it directly.

Both MetaMask and BlockFi have great features for your crypto journey, and it probably makes sense to utilize both for different reasons.

Here are the step-by-step instructions on how to transfer your crypto from MetaMask to BlockFi!

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1. Create A BlockFi Account

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If you already have up a BlockFi account, go on down to step 2!

To open a new BlockFi account, you'll need to have your social security number, phone number, a valid ID, and a real-time selfie.

BlockFi requires all of its users be at least 18 years of age before signing up. You'll have to create a password, agree with their ToS, and then start verifying your identity. This will involve taking a photo of the front and back of your license.

Once you've been screened and approved, you'll receive an approval email with steps to log in.

Usually this takes just a few minutes to process, but it can potentially take up to 2 business days, so sit tight.

2. Locate Your BlockFi Wallet Address

After your account is all ready to go, we can log in and start your deposit.

While the actual transfer procees will take place inside of MetaMask, we first need to grab your new BlockFi wallet address to send your crypto to the right place.

1. From your app or browser, click on the "Deposit" button
2. Select the crypto you want to deposit to BlockFi
3. Copy your wallet address

BlockFi currently supports only the following: Bitcoin, Ethereum, Chainlink, Litecoin, USDCoin, PAXG, DAI, Tether, UNI and BAT.

As a result, these are the only cryptocurrencies you can successfully send over from MetaMask over to BlockFi.

3. Complete The Withdrawal On MetaMask

BlockFi account set up? Check.

BlockFi wallet address copied? Check.

Now we can finally move your crypto into BlockFi!

Follow these steps to withdraw from MetaMask:

1. Open your MetaMask app or browser extension and log in
2. Click on "Send" button (found in the main menu icon in the top left corner in the app)
3. Paste your BlockFi wallet address into the "Add Recipient" field
4. Select the crypto you'd like to send, and decide the amount to transfer
5. Choose your transaction fee and respective processing speed
6. Review your gas fees and transaction details
7. Press "Confirm" to complete your withdrawal

Right now, MetaMask's transaction fees are set to around $6 to $8.

You may want to consider sending more of your crypto over fewer transactions if possible, to avoid racking up some steep fees.