MetaMask Enables Buying Of Ethereum Using PayPal
It’s now possible to buy ETH on MetaMask using PayPal thanks to a new integration. The feature allows users of the MetaMask mobile app to use the payment mode to buy the second-largest cryptocurrency. However, as of now, only a select few in the United States have this privilege. The software wallet plans to slowly roll out the feature to the rest of the population in the next few weeks.
For now, the PayPal integration is only accessible through the MetaMask mobile app. And will be available through the desktop browser extension in the next quarter. The browser extension already allows users to buy crypto directly from their wallets using popular methods such as MoonPay, CoinbasePay, Wyre, and Transak.
According to Lorenzo Santos, the product manager at MetaMask, the new feature will make it easy for users to explore Web3.
In a statement, he notes:
“This integration with PayPal will allow our U.S. users to not just buy crypto seamlessly through MetaMask, but also to easily explore the Web3 ecosystem.”
Santos says users of the wallet can expect to incur a 1% fee on all purchases plus any other applicable PayPal fees. However, he did not disclose if Apple’s 30% in-app purchase fee would be applicable in this scenario.
Following the news of the integration, Aaron Gould, PayPal’s Crypto Communication Lead, jumped on Twitter to share his excitement.
The new feature is much welcomed within the Web3 space. Experts believe it will go a long way toward helping onboard more users to the crypto ecosystem. It simplifies Ethereum purchases for crypto beginners who might find it difficult to use an exchange before carefully transferring their funds to MetaMask.
Ethereum serves as the heartbeat of Web3, having paved the way for the most innovation witnessed in the space. Most DeFi projects, such as NFT platforms, reside on the blockchain, and to access them, you need ETH.
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