Cryptocurrency wallet and decentralized application (Dapp) provider MetaMask has launched a new feature that enables users to purchase cryptocurrency with fiat currency directly from its Portfolio Dapp. However, the move aims to simplify the process of buying crypto with fiat currency.
MetaMask’s “Buy Crypto” feature
MetaMask’s “Buy Crypto” feature allows users to purchase over 90 tokens across eight different networks, including Ethereum, Polygon, Arbitrum, Binance Smart Chain, Avalanche Contract Chain, Fantom, Optimism, and Celo. Also, The service supports various payment methods, such as debit or credit cards, PayPal, bank transfers, and instant ACH. The feature will be available to users in more than 189 countries.
To use the feature, MetaMask users can connect their wallets to the Portfolio Dapp or click on the “Buy” button in the MetaMask extension wallet. From there, users can select their region, payment method, and the token and network they want to purchase.
The “Buy Crypto” feature takes into account a range of factors, including the user’s location and local regulations, to provide a customized 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, with the funds deposited directly into their MetaMask wallet.
MetaMask has partnered with several organizations to onboard new users to its platform. In 2022, the company teamed up with PayPal to enable MetaMask users to purchase and transfer Ether (ETH) via PayPal’s platform.
The Dapp provider was also integrated recently with crypto fintech provider MoonPay to offer Nigerian users a simpler and cheaper way to buy crypto using instant bank transfers.
MetaMask’s new “Buy Crypto” feature is expected to further simplify the process of buying and using cryptocurrency, making it more accessible to users worldwide.
