MetaMask Launches Direct Crypto Purchase Feature With Fiat Currency On Portfolio DApp

The new "Buy Crypto" feature allows MetaMask users to buy various types of cryptocurrencies. (photo: Twitter @MetaMask)

JAKARTA - MetaMask, a provider of decentralized cryptocurrency wallets and apps (DApp), announced the launch of a new feature that allows users to buy cryptocurrencies directly from its Portfolio DApp. The move aims to provide users with easier ways to buy cryptocurrencies with fiat currencies.

The new "Buy Crypto" feature allows MetaMask users to purchase various types of cryptocurrencies using various payment methods, including debit or credit cards, PayPal, bank transfers, and instant ACH (Automated Clearing House). This service will be launched for users in more than 189 countries and will offer more than 90 tokens on eight different networks, including Ethereum, Polygon, Arbitrum, BNB Smart Chain, Avalanche Contract Chain, Fantom, Optimistic, and Celo.

We foxes at MetaMask 🦊 are excited to announce that our Buy Crypto feature now also resides in our Portfolio Dapp, providing a simple and smooth purchasing journey👌🔗https://t.co/sEcCnQhbRB pic.twitter.com/UvaG2wMSpy

— MetaMask 🦊💙 (@MetaMask) April 10, 2023

To access this feature, MetaMask users can connect their wallet to Portfolio DApp or click the "Buy" button in the MetaMask wallet extension. From there, users can select the region, payment method, as well as the tokens and networks they want to buy.

This feature also considers various factors, such as user location and local regulation, to provide customized offers for each purchase. Once the user selects the offer, they will be directed to a third-party site to complete the transaction. Funds will then be directly saved to the user's MetaMask wallet.

Over the years, MetaMask has teamed up with several organizations to help introduce new users to its platform.

In 2022, MetaMask partnered with PayPal to allow MetaMask users to purchase and transfer Ether (ETH) through the PayPal platform. The service, announced on December 14, allows users to purchase and transfer ETH from PayPal to MetaMask by logging into their Mobile MetaMask app, which will then direct them to their PayPal account to complete the transaction.

In addition, on March 21, MetaMask announced a new integration with fintech crypto provider MoonPay that allows users in Nigeria to buy crypto through instant bank transfers. This new feature, which is available on the MetaMask mobile app and Portfolio DApp, offers a simpler and cheaper way to buy crypto without using credit or debit cards.