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Saturday, September 30, 2023

MetaMask implements fiat payment functionality

Thanks to a new feature, MetaMask users can now buy cryptocurrencies using debit or credit cards, PayPal, and bank transfers.

  • As MetaMask announced in a press release , users can now buy cryptocurrencies using various fiat payment methods.
  • The new “buy crypto” feature includes payment transactions using debit or credit cards, PayPal and bank transfer.
  • There is currently no PayPal payment option for users from Germany, Austria and Switzerland. Bank transfers also take “1 – 5 business days”.
  • The cunning wallet has launched the service for 189 countries. A total of 90 tokens across eight different networks (Ethereum, Polygon, Optimism, Arbitrum, Binance Smart Chain, Avalanche Contract Chain, Fantom and Celo) are available.
  • To access the feature, users must first connect their wallet to the Portfolio Dapp. When purchasing, for example, the location and national regulations are important.
  • At the end of 2022, MetaMask experienced a privacy scandal . The accusation: Among other things, transaction data should be stored for seven days.

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FAQs

Does MetaMask accept fiat?
Yes, MetaMask users can now buy crypto with fiat directly from their wallets

How does MetaMask wallet work?
The MetaMask browser extension is a browser extension that can act as your Ethereum wallet. Unlike traditional wallets, MetaMask requires no additional plug-ins, so you’re free to use it in any browser. Once installed, you can view your Ethereum address and send or receive coins to any Ethereum address in turn.

Can I buy Bitcoin with MetaMask?
In summary, it is not possible to purchase Bitcoin directly using the Metamask wallet as it only supports Ethereum Virtual Machine (EVM) based currencies. However, it is possible to exchange Ethereum (ETH) or other ERC-20 tokens for a wrapped version of Bitcoin (BTC) known as ‘WBTC’.

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