- One of the most popular crypto wallets, MetaMask, launched a new feature. This new feature will allow users to sell their crypto and receive the proceeds directly to their bank account.
- There are complaints about the fees charged by the new feature.
MetaMask is always creating new services that will benefit their users. So, they are trying to make it easier for their users to withdraw crypto to their bank account by launching a new feature.
MetaMask Introduces New Sell Feature
- MetaMask is one of the most prominent crypto wallets available in the United States and the rest of the world. It is mainly known to be among the best Ethereum wallets. Nevertheless, they introduced a new service, which is quite enormous, especially for their US customers.
- This new service is a unique sell feature. This feature allows their customers to quickly sell/withdraw their cryptocurrencies directly to their bank account in fiat. So, users who want to cash out their funds directly to their bank account can use this feature. But how does it work? So, we have created a step-by-step guide for this particular service from MetaMask.
How to Use the New Sell Feature From MetaMask
- The first thing to do is to click on the sell feature when you open your MetaMask wallet. There is a list of payment providers for the fiat transfer to your bank account. One of the most exciting things here is PayPal’s PYUSD. However, we will use MoonPay for this guide. Note that you will need a KYC to get started.
- You select the assets in your wallet you want to sell. Assuming you only want to sell Ethereum and receive the proceeds, select the ticker and input the amount of Ethereum. So, assuming it is 5 Ethereum; you select it and click on continue.
- The payment processing of this service doesn’t take time. In fact, it takes a few seconds to process the payment. It also takes a few minutes to receive the payment to your bank account. Furthermore, you will pay some fees for this transaction. There’s a gas fee and other spread fees.
Expert Views on the New Service
- An expert named @S4mmyEth on Twitter (now X) shared his views regarding the new service. So, the summary is that there’s still room for improvement.
- One of the things this expert pointed out is the fees required for this service. So, you will most likely pay as much as 9% in fees. A little amount of the fees comes from the gas fees. However, a large amount of it comes from the hidden and MM fees. This analyst suggests the wallet can still make improvements in the transfer times and the user experience.
Conclusion
MetaMask recently launched a new feature to their crypto wallet. So, this new feature will allow them to sell and withdraw their cryptocurrencies directly to their bank account in fiat. This is quite a huge addition to the services of the crypto wallets, and everything shows users love it. However, there’s still room for improvement with the new feature.
Image by pikisuperstar on Freepik
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from cryptonewsbytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company
