The popular browser-based self-custody wallet Metamask is making it easier for buyers to buy digital assets. Users can now easily buy crypto using multiple payment channels available in their region. Choices include debit/credit cards, bank transfers, and online payment platforms like PayPal.
This is made possible through the Metamask Portfolio dApp. Users will automatically be directed to the portfolio link when they click on the buy option on their Metamask crypto wallet.
Below is a short video on how it is done:
How Does Metamask Portfolio Work?
The usual way of purchasing crypto is by converting fiat to a stablecoin like Tether or USDC. Then these stablecoins will be used to purchase a cryptocurrency like Bitcoin or Ethereum. The extra step of converting to stablecoins sometimes confuses new crypto investors. Metamask is taking out an extra step to make the experience easier for buyers.
Here is a step-by-step guide:
- Open your Metmask wallet and click on the buy button.
- This will automatically take you to the Metamask Portfolio site.
- For first-time users, it will ask you to select the region.
- After selecting the region, users can now select the preferred payment method. The payment method depends on the region.
- Users just need to follow the instructions to complete the transaction.
Metamask Feature Came at the Right Time
This user-friendly feature came at a time when crypto users are trying to migrate from centralized exchanges to self-custodial wallets. The recent collapse of several crypto institutions taught investors the importance of keeping their digital assets using their own hard or soft wallets. Hard wallet companies like Trezor saw an increase in demand after the failure of FTX, which was once one of the biggest crypto exchanges.
Making Things Easy is Key to Crypto Adoption
Customers are always looking for the best experience when trying to purchase something. Nobody wants to spend too much time completing a simple transaction. What Metamask did was to make purchasing crypto as easy as going to an online store. With PayPal or a credit card, customers can buy their chosen crypto in just a few minutes. Crypto purchases are automatically sent to the customer’s wallet once the transaction is completed.
Buying crypto is now as easy as going to Amazon. Global adoption is now closer to reality.
About Metamask
Metamask is a popular cryptocurrency wallet and browser extension created by the technology company ConsenSys in 2016. It allows users to interact with decentralized applications (dApps) on the Ethereum (ETH) blockchain. With Metamask, users can securely secure digital assets such as ETH and other ERC-20 tokens.
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Source: Metamask.io
Featured image from Pixabay
