MetaMask Introduces Buying Crypto in Portfolio Dapp

ConsenSys-backed Metamask has recently launched a new fiat-to-crypto ramp for its Portfolio dApp. With this new feature, Metamask users can use fiat in their wallets to directly purchase up to 90 cryptocurrencies. The recent addition is focused on simplifying the process of acquiring cryptocurrencies with the use of traditional currencies. 

As per a blog post, “In our ongoing quest to make MetaMask users’ lives easier, we are launching the Buy Crypto feature in Portfolio Dapp for an easy purchasing experience. Simply navigate to the Buy tab in the dapp, connect your MetaMask wallet, and load up with the crypto of your choice!.”

“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,” the popular Web3.0 wallet provider posted on Twitter.

Ethereum (ETH), Polygon (MATIC), Arbitrum (ARB), BNB Smart Chain (BSC), Avalanche Contract Chain, Fantom, Optimis, and Celo are a few of the digital assets that can be purchased on the platform. Metamask inked several strategic partnerships with the likes of PayPal, MoonPay, Sardine, Banxa, Onramp.money, Mercuryo, and Transak to bring about this feature.

The Portfolio dApp has a “Buy Crypto” feature which would enable users to make payments for digital assets through various means including debit or credit cards, PayPal, bank transfers, and instant ACH transactions. 

Metamask Inks Several Collaborations

Metamask had already started permitting payment from some of these platforms before now. In October 2022, the company signed an agreement with Sardine, a platform for rapid ACH settlements, to allow users in the United States to make payments through their bank accounts.

Two months later, the global payment platform PayPal was integrated into Metamask for Ethereum transactions. Although, a 1% transaction fee applies for all purchases made through the PayPal route. At the time, Adam Hollander, the co-founder of White Sand Metaverse, said that the new PayPal feature “knocks down a meaningful barrier to entry for NFTs.”

Recently, crypto fintech provider Moonpay was also included for Nigerian Metamask users to facilitate payment for digital assets within the MetaMask mobile and Portfolio dApp.

Ultimately, it was aimed at boosting the accessibility of self-custody purchases in the West African country. In a similar fashion, Metamask has other collaborations with Unity for Web3.0 plus an initiative for Web3.0 education via its Learn program.