Metamask, a popular cryptocurrency wallet, has announced a new integration with e-banking PayPal. It allows US users directly to use their associated PayPal balance, bank account or credit card to buy Ethereum (ETH) from the digital wallet app on smartphones.
MetaMask said in a tweet that it is the first Web3 digital wallet that allows users to buy ETH directly using PayPal. Although this feature is not yet available to all users in the US. MetaMask intends to gradually expand its use in the coming weeks.
Metamask, which is one of the largest digital wallets dedicated to the Ethereum currency and other currencies and digital assets built on the Ethereum network. It provides its services through plug-ins integrated with Internet browsers such as Chrome and Firefox. And also through its own application for smart phones.
The MetaMask wallet extension already provides browsers in the US with the ability to purchase cryptocurrency directly from their wallet via CoinbasePay, Transak, MoonPay, or Wyre.
And Meta Mask Product Manager, Lorenzo Santos, stated that the new feature will make it very easy for users to explore and benefit more from Web 3 services and applications.
Santos said that integration with PayPal will be available on the MetaMask add-on for web browsers in the next quarter.
Santos also confirmed that the 1% service fee charged by Metamask will apply to all purchases. In addition to fees applied by PayPal.
The company's statement did not mention that the 30% app purchase fee charged by Apple will also apply to Ethereum purchases. Santos did not disclose any information regarding this.
Metamask...the goal is to buy digital currencies in the easiest way
The move comes just weeks after Metamask launched a new feature that allows users to buy cryptocurrencies with fiat currencies directly from its digital wallet app.
This feature is known as Buy Crypto. It allows users to purchase a variety of cryptocurrencies using various payment methods. Including credit cards and bank transfers.
The new integration between MetaMask and PayPal will allow people who are new to the world of cryptocurrency to avoid the process of buying cryptocurrency through cryptocurrency exchanges. Then send it to your MetaMask wallet.
PayPal is one of the largest and most popular online payment companies in the world. This integration with MetaMask will provide a seamless experience for users who want to buy and trade Ether.
PayPal started in 2020 to provide services for buying and selling cryptocurrencies. But it only provided Bitcoin, Ethereum, Bitcoin Cash and Litecoin. Users could not transfer their cryptocurrency to other wallets such as MetaMask until June of this year.
It is not surprising that MetaMask initially focused on providing the service of buying Ethereum for its users before other digital currencies. Compared to competing digital wallets, such as Phantom and Coinbase wallet. MetaMask is still an Ethereum-based wallet that does not support other blockchains.
