MetaMask Introduces New Fiat-to-Crypto Purchasing Feature

Jimmy Aki
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The cryptocurrency wallet MetaMask has introduced an easy “Buy Crypto” feature for a smooth fiat-to-crypto conversion process. With the new function, customers can buy cryptocurrencies using various payment options, including PayPal, bank transfers, debit or credit cards, and fast ACH.

Providing Seamless Transaction

The decentralized application (DApp) and cryptocurrency wallet provider MetaMask has announced the release of a new feature that will enable users to buy crypto with fiat money straight from its Portfolio Dapp.

The purpose of the move is to make it simpler for users to buy cryptocurrency using fiat money.

Users of MetaMask can now buy various cryptocurrencies using multiple payment methods, such as debit or credit cards, PayPal, bank transfers, and fast ACH (Automated Clearing House), thanks to the new “Buy Crypto” function.

The service will be available to customers in over 189 countries. Aside from that, over 90 tokens on eight distinct networks will be made available. This includes BNB Smart Chain, Avalanche Contract Chain, Ethereum, Polygon, Arbitrum, Celo, Optimis, and Fantom.

The new function made available by MetaMask is intended to make it simpler for users to buy cryptocurrencies with fiat money.

Previously, customers had to go through a lengthy process, often involving numerous steps and fees, to convert their fiat currency into Bitcoin.

Thanks to this new functionality, users may buy cryptocurrencies with just a few clicks and without using additional software.

To access the feature, MetaMask users can click the “Purchase” option in the extension wallet or connect their wallets to the Portfolio Dapp.

They can then select their region, a payment method, the token and network on which they want to purchase, and so on.

The service also provides a customized quote for each transaction based on various factors, such as the user’s location and regional laws.

After selecting a quote, the user will be directed to the website of a third-party provider to complete the transaction. The funds will then be transferred to the user’s MetaMask wallet.

MetaMask Continuous Evolution

To facilitate the onboarding of new users onto its platform, MetaMask has collaborated with several organizations throughout the years.

Last year, the crypto wallet partnered with PayPal to allow its users to buy and transfer Ether using PayPal’s infrastructure.

Users can purchase and transfer ETH from PayPal to MetaMask by logging into their mobile app. The Mobile MetaMask app would then direct them to their PayPal account to complete the transaction.

Meanwhile, on March 21, MetaMask announced a new interface with cryptocurrency finance service MoonPay that allows Nigerian customers to purchase cryptocurrency via immediate bank transfers.

The new function provides a faster and more affordable option to buy cryptocurrency without using credit or debit cards. It is available in the MetaMask mobile app and Portfolio DApp.

A New Impact on the Crypto Ecosystem

MetaMask’s new feature illustrates the changing landscape of cryptocurrencies.

Crypto exchanges, wallets, and investment applications are just a few of the platforms and resources that have grown in popularity in recent years to help people invest in cryptocurrencies.

The introduction of the new MetaMask feature is expected to significantly impact the cryptocurrency market.

By streamlining the investment process and making it easier for users to buy cryptocurrencies, demand for cryptocurrencies will increase in the coming months.

In the coming years, investors can also expect the emergence of more crypto investment-related platforms and tools, such as new trading platforms, decentralized finance (DeFi) protocols, investment apps, and trading platforms.

These changes will make it easier and more convenient for investors to acquire cryptocurrencies, potentially increasing public acceptance of this new asset class.

About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.