MetaMask Enables Crypto Purchases Using Fiat Funds


Key takeaways

  • MetaMask has introduced a new feature that allows users to purchase cryptocurrencies with fiat currencies. 

  • The wallet wants to make it easier for users to purchase cryptocurrencies directly on its platform. 

  • MetaMask has included payment options like debit or credit cards, PayPal, bank transfers and instant ACH.

MetaMask Makes Crypto Purchases With Fiat Funds Possible

Cryptocurrency wallet and decentralised application (DApp) provider MetaMask revealed on Monday, April 10th, that it had introduced a new feature to its Portfolio Dapp that would allow users to acquire numerous digital tokens using fiat currencies.

The move is designed to make it simpler for users to purchase crypto with fiat money. 

MetaMask’s “Buy Crypto” feature makes it possible for customers to buy several cryptocurrencies with various payment methods, including debit or credit cards, PayPal, bank transfers, and instant ACH (Automated Clearing House). 

The wallet provider noted that the service would be available in 189 countries and will offer more than 90 tokens across eight networks, including Fantom, Celo, Ethereum, Arbitrum, BNBChain, Polygon, Optimism, and Avalanche. 

MetaMask users are required to connect their wallets to the Portfolio Dapp and click on the “Buy” button in the MetaMask extension wallet to access the feature. This will allow users to select their region, payment option, the token, and the network they want to purchase on. 

MetaMask’s New Feature Adapts to Location

MetaMask’s new feature takes into account various factors, like the user’s location and local regulations, to provide a customised payment quotation. 

Users are then redirected to a third-party provider’s website to finish the transaction, and the funds are deposited directly into the user’s MetaMask wallet afterward. 

MetaMask has been partnering with companies to make it easier for users to purchase cryptocurrencies. Last month, MetaMask partnered with MoonPay to enable direct crypto purchases in Nigeria.

Also in March, MetaMask Institutional partnered with Allnodes, Blockdaemon and Kiln to launch a staking service for institutional investors. Companies and institutional investors are able to access a wide range of staking services provided by ConsenSys Staking Allnodes, Blockdaemon and Kiln.

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