MetaMask Debuts New Method to Purchase Crypto via Fiat
- Cryptocurrency wallet MetaMask announced a new way to allow clients to purchase crypto with fiat currency using traditional payment methods.
- The new feature called “Buy Crypto” will allow users to purchase crypto coins using debit and credit cards, PayPal, bank transfers, and instant ACH.
- Users can buy 90+ tokens from eight networks, including Ethereum, Polygon, Arbitrum, BNB Smart Chain, Avalanche Contract Chain, Fantom, Optimism, and Celo.
- The feature will be made available in around 189 countries and will take into account the users’ location, and the payment method they would like to use.
- ConsenSys, the parent company of the wallet, recently partnered with PayPal to allow users to easily purchase crypto.
Following the regulatory crackdown on various crypto companies, many platforms have been unable to provide ways to their users to buy cryptocurrencies with the help of fiat currencies. Interestingly, a popular cryptocurrency wallet and decentralized application (DApp) owned by ConsenSys, MetaMask, has announced a new way to allow clients to purchase crypto with fiat currency.
MetaMask has introduced a new feature called “Buy Crypto,” which will allow users to purchase a wide variety of crypto coins like Bitcoin (BTC) and Ether (ETH) without any issues using traditional payment methods like debit and credit cards, PayPal, bank transfers, and instant ACH (Automated Clearing House).
As confirmed by MetaMask, the new feature will allow users to purchase around 90 tokens from eight different networks, including Ethereum, Polygon, Arbitrum, BNB Smart Chain, Avalanche Contract Chain, Fantom, Optimism, and Celo. The feature will be made available in around 189 countries, presenting opportunities for new potential investors to make their crypto investments.
“We’ve been busy onboarding new partners and local payment methods to make your fiat-to-crypto purchases with MetaMask much easier. With 189 supported countries across 8 different networks including L2s, funding your self-custody wallet is a breeze,” said the wallet.
The decentralized crypto wallet added that the “fiat to crypto on-ramp feature takes into account various factors like your region, payment method, tokens, and more to provide the best available quotes” in another post on social media platform Twitter.
As mentioned by MetaMask in the Twitter post, users can connect their wallets to the Portfolio Dapp or click on the “Buy” button in the MetaMask extension wallet. Thereafter, the users will be asked to select their region and the payment method they would like to use, along with the network they would like to use to purchase the crypto coin. The funds will be directly added to the users’ accounts.
As reported earlier by BitcoinWisdom, the parent company of the decentralized wallet, ConsenSys, debuted a new initiative called MetaMask Learn, a learning simulation platform focused on Web3, which will “help users orient themselves in the world of Web3 and self-custodial wallets.” It was announced that the platform will be available in 10 languages and will combine “visual learning with action-oriented testing.”
“MetaMask Learn is a free-to-use resource available in 10 languages for anyone interested in learning about Web3. It provides an interactive MetaMask UI environment to help onboard those new to self-custody, and guides users through the most common topics to help them get started in Web3,” said ConsenSys in the announcement.
Furthermore, MetaMask also recently partnered with payment company PayPal to provide customers with a “simple and convenient way to buy Ethereum with PayPal.”
ConsenSys also stated that “MetaMask will be the first Web3 wallet to leverage PayPal to drive more successful on-ramp transactions” and will allow US users to purchase Ether (ETH) easily with the help of the PayPal application, which will be connected to their bank accounts.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
