MetaMask, the popular cryptocurrency wallet and decentralised application provider, has announced the launch of a new fiat purchase feature.
The new “Buy Crypto” feature will allow users to purchase cryptocurrencies with fiat currencies directly from the Portfolio Dapp.
MetaMask aims to make it easier for users to buy crypto with fiat currency, and the new feature allows users to buy multiple cryptocurrencies using various payment methods such as debit or credit cards, PayPal, bank transfers, and instant ACH.
The service will be available to users in 189 countries and offer more than 90 tokens across eight networks, including Fantom, Celo, Ethereum, Arbitrum, BNB Chain, Polygon, Optimism, and Avalanche.
New Fiat Feature Works With User Location
To use the feature, users must connect their wallets to the Portfolio Dapp to click on the “Buy” button in the MetaMask extension wallet. Users can then select their region, payment option, the token, and the network they want to purchase on.
The new feature takes into account various factors, such as the user’s location and local regulations, to provide a customised payment quotation.
Users will be redirected to a third-party provider’s website to complete the transaction, and the funds will be deposited directly into the user’s MetaMask wallet afterwards.
The wallet provider has been partnering with companies to make it easier for users to purchase cryptocurrencies. Last month, MetaMask partnered with MoonPay to enable direct crypto purchases in Nigeria.
In March, MetaMask Institutional partnered with Allnodes, Blockdaemon and Kiln to launch a staking service for institutional investors. Companies and institutional investors can access a wide range of staking services provided by ConsenSys Staking Allnodes, Blockdaemon and Kiln.