Cryptocurrency wallet and decentralized application (Dapp) provider MetaMask has Announced the launch of a new feature that will allow users to buy cryptocurrencies with fiat currency directly from their Portfolio Dapp. The move aims to provide users with an easier way to buy cryptocurrency with fiat currency.
We the foxes at MetaMask are happy to announce that our Buy Crypto feature now also resides in our Wallet Dapp, providing a simple and seamless buying process.
https://t.co/sEcCnQhbRB pic.twitter.com/UvaG2wMSpy
โ MetaMask (@MetaMask) April 10, 2023
The new "Buy Crypto" feature allows MetaMask users to purchase a wide range of cryptocurrencies using various payment methods, including debit or credit cards, PayPal, bank transfers, and instant ACH (Automated Clearing House). The service will roll out to users in more than 189 countries and will offer more than 90 tokens on eight different networks, including Ethereum, Polygon, Arbitrum, Binance Smart Chain, Avalanche Contract Chain, Fantom, Optimism, and Celo.
To access the feature, MetaMask users can either connect their wallets to the Portfolio Dapp or click the "Buy" button in the MetaMask extension wallet. From there, users can select their region, payment method, and the token and network they wish to purchase on.
The feature also takes into account a variety of factors, such as the user's location and local regulations, to provide a personalized quote for each purchase. Once the user has selected a quote, they will be redirected to a third-party provider's website to complete the transaction. The funds will then be directly deposited into the user's MetaMask wallet.
Related: Scam Alert: MetaMask Warns Users About Misleading March 31 Airdrop Rumors
Through the years, metamask has partnered with various organizations to help onboard new users to their platform.
In 2022, Metamask partnered with PayPal to allow MetaMask users to purchase and transfer Ether (ETH) through the PayPal platform. The service, announced on December 14, allows users to purchase and transfer ETH from PayPal to MetaMask by logging into their Mobile MetaMask app, which would then redirect them to their PayPal account to complete transactions.
Also, on March 21 MetaMask announced a new integration with cryptocurrency provider MoonPay that allows Nigerian users to purchase cryptocurrencies through instant bank transfers. The new feature, available on MetaMask mobile and Portfolio DApp, offers a simpler and cheaper way to buy cryptocurrency without using credit or debit cards.
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