Cryptocurrency wallet and decentralized application (DApp) provider MetaMask has announced a new feature that allows users to purchase cryptocurrencies with fiat currency directly from its portfolio Dapp. The move aims to provide users with an easier way to buy cryptocurrencies using fiat currencies. The new “Buy Cryptocurrency” feature enables MetaMask users to purchase a wide range of cryptocurrencies using a variety of payment methods, including debit or credit cards, PayPal, bank transfers, and instant ACH (Automated Clearing House). The service will be available to users in over 189 countries and will offer over 90 tokens across eight different networks, including Ethereum, Polygon, Arbitrum, BNB Smart Chain, Avalanche Contract Chain, Fantom, Optimis and Celo .
To access the 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 their region, payment method, and the tokens and networks they want to buy.
The feature also takes into account factors such as the user's location and local regulations to provide a customized quote for each purchase. After the user selects an offer, they are 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 partnered with several organizations to help new users onboard its platform.
In 2022, Metamask partners with PayPal to allow MetaMask users to buy and transfer Ether. Through PayPal's platform. Announced on Dec. 14, the service enables users to purchase ETH and transfer it from PayPal to MetaMask by logging into their Mobile MetaMask app, which will then redirect them to their PayPal account to complete the transaction.
Additionally, on March 21, MetaMask announced a new integration with cryptocurrency fintech provider MoonPay, allowing Nigerian users to purchase cryptocurrencies via instant bank transfers. New features available in the MetaMask Mobile and Portfolio DApps provide an easier and cheaper way to buy cryptocurrencies without using a credit or debit card.
