With the new feature, users can purchase cryptocurrencies using a variety of payment methods, including debit or credit cards, PayPal, bank transfers, and instant ACH payments.
MetaMask, a provider of cryptocurrency wallets and decentralized applications (Dapps), has unveiled a new capability that enables users to directly buy cryptocurrency with fiat currency through its Portfolio Dapp. This latest feature is designed to simplify the process of buying crypto with fiat for MetaMask users.
We foxes at MetaMask 🦊 are excited to announce that our Buy Crypto feature now also resides in our Portfolio Dapp, providing a simple and smooth purchasing journey👌— MetaMask 🦊💙 (@MetaMask) April 10, 2023
MetaMask’s latest “Buy Crypto” feature empowers its users to purchase a diverse selection of cryptocurrencies through multiple payment methods, such as debit/credit cards, PayPal, bank transfers, and instant ACH (Automated Clearing House). This service will be made available in over 189 countries, offering access to more than 90 tokens across eight distinct networks, including Ethereum, Polygon, Arbitrum, Binance Smart Chain, Avalanche Contract Chain, Fantom, Optimism, and Celo.
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MetaMask’s new feature is easily accessible to users through two methods: connecting their wallets to the Portfolio Dapp or clicking on the “Buy” button in the MetaMask extension wallet. After that, users can choose their region, payment method, and the desired token and network they wish to purchase.
The feature is designed to be customizable and takes into account several factors, such as the user’s location and local regulations, to offer tailored quotes for each purchase. Once a quote is selected, the user will be directed to a third-party provider’s website to complete the transaction, and the funds will be deposited directly into their MetaMask wallet.
MetaMask and PayPal partnered in 2022 to provide a seamless experience for MetaMask users to buy and transfer Ether (ETH) through PayPal’s platform. This service was unveiled on December 14 and allowed users to log in to their Mobile MetaMask app and be redirected to their PayPal account to complete transactions. The tickers for ETH have recently dropped to $1,913.
Moreover, on March 21, MetaMask introduced a new integration with crypto fintech provider MoonPay, enabling Nigerian users to purchase crypto through instant bank transfers. This new feature is accessible through the MetaMask mobile and Portfolio DApp, providing an easier and more cost-effective alternative to buying crypto without having to rely on credit or debit cards.