This guide will walk you through setting up your Trezor wallet for the first time inside the Metal Vault application. If you don’t have a Metal Vault account yet, follow this guide to create one.
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The Metal Wallet Is Linked To A Parent Ethereum Wallet
When you enter the Metal Vault for the first time, you’ll notice that you have two preconfigured wallets: “My Ethereum wallet” and “My Metal wallet”. The Metal wallet is linked to a singlesig Ethereum wallet. The reason for this is that Metal is an ERC-20 token that resides on the Ethereum blockchain (it carries smart contract information that identifies it as MTL).
It therefore needs a parent Ethereum wallet to cover any transaction fees. So the Metal wallet is linked to an Ethereum wallet under the hood. This setup allows users multiple options for creating new Metal wallets in Trezor, Ledger, or importing from MyEtherWallet through a keystore import file.
This guide will show you how to create a Metal hardware wallet using your Trezor device. To do so, you’ll first need to create an Ethereum hardware wallet to which it can be linked.
Setting Up Your Trezor Wallet To Connect With Metal Vault
Log in to the Metal Vault app, and go to the “Wallets” page; then click on the add wallet button (the “+” icon beside “Wallet”). You’ll be taken to the “Create wallet” page within your Metal Vault.
Step 1 asks “Which currency would you like to use?” Select “Ethereum”.
Step 2 asks “What kind of wallet do you want to create?” Select “Trezor”.
In Step 3, enter a name for the Ethereum wallet you’ll create on your Ledger. (It is good practice to give it a descriptive name, like “My ETH-Trezor Wallet” or “Jerry’s Fund” to avoid uncertainty later.)
Before you connect your Ledger device, make sure you’ve downloaded the browser plugin (see this video), otherwise your Trezor won’t be able to communicate with the web-based Metal Vault. Update the firmware regularly of your device!
Connect your Trezor device to your computer via the USB connector. Once you’ve inserted your pin code, start the Ethereum application on your Trezor, and click on the “Connect Trezor” button. You should see a popup.
The drop-down menu will display multiple addresses; you’re going to select one. If you already have a funded Ethereum wallet on your Trezor that you want to link to the Metal Vault , choose the address that contains the funds.
If this is your first time using the Trezor with Metal Vault, or if you have no funds in your Trezor, you can choose any address from the list; this will be the address of your new Ethereum wallet on your Trezor. When you’ve selected your address, press “OK”, and you will find yourself at your new wallet interface.
Congratulations, you now successfully added your Ethereum Trezor wallet. This wallet is now accessible from your Metal Vault dashboard.
Create a Metal Trezor Wallet that is Linked to the Ethereum Wallet You Just Created
To link a Metal Trezor wallet to your new Ethereum Trezor wallet, click on the “add wallet” button again (the + icon) on the Metal Vault dashboard. You’ll be taken to the “create wallet” page once again.
Select Metal in step 1. In step 2, select the Ethereum Trezor wallet you just created. Pick a name for your Metal Trezor wallet in step 3. Finally, click “create wallet” to complete the process.
You now succesfully linked your Trezor to the metal wallet
Congratulations! You have successfully created a Metal Wallet on your Trezor. You can access this wallet from your Metal Vault whenever your Trezor device is connected and activated.
This concludes the “How to setup your Trezor Wallet in Metal Vault” tutorial.