Cryptocurrency wallet and decentralized application (DApp) provider MetaMask has announced a new feature that allows users to purchase cryptocurrencies with fiat currencies directly from their Dapp portfolio. The move aims to provide users with an easier way to buy cryptocurrencies using fiat currencies.
The new “Buy Cryptocurrencies” feature allows MetaMask users to purchase multiple cryptocurrencies using a variety of payment methods, including debit or credit cards, PayPal, bank transfers, and ACH (Payment Hub Automated Clearing House). The service will be available to users in more than 189 countries and will offer more than 90 tokens on eight different networks, including Ethereum, Polygon, Arbitrum, BNB Smart Chain, Avalanche Contract Chain, Fantom, Optimis and Celo .
To access this feature, MetaMask users can connect their wallet to the Portfolio Dapp or click the “Buy” button in the MetaMask extension wallet. From there, users can choose the region, payment method, token, and network they want to buy.
The feature also takes into account various factors, such as the user’s location and local regulations, to provide a customized quote for each purchase. Once the user selects an offer, they will be redirected to the third-party provider’s website to complete the transaction. Funds are then deposited directly into the user’s MetaMask wallet.
Over the years, MetaMask has worked with many organizations to help onboard new users to its platform.
In 2022, Metamask will partner with PayPal to allow MetaMask users to purchase and transfer Ethereum through PayPal’s platform. Announced on Dec. 14, the service allows users to purchase ETH and transfer it from PayPal to MetaMask by logging into their MetaMask Mobile app, which then redirects them to their PayPal account to complete the transaction.
Additionally, on March 21, MetaMask announced a new integration with crypto fintech provider MoonPay, allowing Nigerian users to purchase cryptocurrencies via instant bank transfers. The new feature available in the MetaMask mobile and Portfolio DApp offers an easier and cheaper way to buy cryptocurrencies without using a credit or debit card.
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As reported by Cointelegraph