MetaMask Extension - Transfer of funds to a new account

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MetaMask is a browser extension that allows users to securely store and manage Ethereum-based cryptocurrencies, interact with decentralized applications, and access the Ethereum blockchain.

There are many users who have imported their accounts using a secret recovery phrase but they still think that their account is in danger. So in cases like these users prefer to import their existing digital assets from the current account to a new account. But many of the users do not know its process. And if you are also one of them then this blog is for you. 

In this blog, we will discuss the steps of how can you migrate your funds from MetaMask Extension to your new account on MetaMask. 

Account Migration Steps

Following are the steps that you should follow for account migration. The very first thing before starting with the process is that you should be in a place where no one can look at your seed phrase.

  1. Open your MetaMask Extension.
  2. Create a new account on the platform.
  3. Now a new Secret Recovery Phrase will be generated, store it.
  4. Get the address of the account you have just created to store your tokens.
  5. Now you will have to transfer your assets from one account to another. But remember that never transfer your ETH or MATIC in the first go, because then you will not have any other way to pay for transfer fees.
  6. The first thing that you should transfer should be NFTs because they are the most expensive to transfer. After that, you can transfer ERC-20 tokens and then others. 
  7. Now switch your network and then repeat the above steps again. It is because your assets have been distributed to different networks and you have to transfer the assets from every network. 

Thus just by following these simple steps, your funds will be transferred successfully to your new MetaMask Extension account. 

Unauthorized Transactions

In this section of the blog, we will tell you what can you do if you spot a transaction that you don’t remember making. To make sure that the transaction you are claiming is not made by you, check the following mentioned details of the transaction. If even after viewing them you are not able to identify them, then you will have to report the transaction to the customer care services of MetaMask Extension. The said details to be checked are:

  • Time and date of the transaction made.
  • Address of the recipient.
  • Involved dApp.
  • Amount sent in the transaction.

Now if after reviewing all this information you still don’t remember making it, then go to the support page of MetaMask and try to get in touch with them using their customer support method. You can even report your transaction to Cyber Security and they can help you out in finding out about the scammer. And then transfer the funds present in your account to a new account for their safekeeping.

The Bottom Line

The steps to transfer your funds from one account to a new account of MetaMask Extension are already explained in the above section of this blog. On the official website of the MetaMask, you will find a detailed blog of steps to undertake if you got scammed under the support section, view it to know about it.