Metamask users can now use a credit card to purchase crypto
Users of the leading cryptocurrency Web3 wallet MetaMask can now purchase ETH directly in MetaMask with a credit or debit card thanks to Moonpay. The partnership announced via Twitter gives Moonpay access to MetaMask’s 30 million-plus user base and lets MetaMask serve its customers better. Moreover, the partnership will help expand crypto adoption.
Summary
- Moonpay partners with MetaMask for ETH purchases with mainstream payment methods
- MoonPay makes buying crypto through MetaMask easier and more accessible
- MetaMask is the leading Web3 wallet service with over 30 million users worldwide
- MetaMask’s integrated swap functionality already attracts 117,000 unique active wallets per month
- MetaMask Swap is the 7th biggest dapp in the DeFi category according to the DappRadar Rankings
Moonpay partners with MetaMask
The MoonPay integration into the leading blockchain wallet will make buying cryptocurrency easier. Instead of setting up an external account with a centralized exchange and using it as a fiat onramp, the whole process can happen from within the MetaMask wallet. Moreover, fiat on-ramps are vital for the blockchain industry to keep growing at its current rate.
MetaMask has rolled out several vital upgrades this year already, including the highly demanded dark mode, alongside security and accessibility upgrades. Arguably, MetaMask is in a privileged position, taking full advantage of being early in the space. It currently counts more than 30 million users globally, and the introduction of an easy fiat onramp should cement its position for some time to come despite the onslaught of competitors as the Web3 wallet space heats up.
MoonPay heads to the moon
MoonPay is on a mission in 2022, having announced earlier in April that they would be partnering with OpenSea to make purchasing NFTs easier. The OpenSea platform has been experimenting recently with adding Solana NFTs, payments through Polygon tokens, and allowing users to use credit cards to make purchases. You will still need an ETH-based wallet, such as Metamask to store the NFTs, but the move brings OpenSea closer to access for all.
What’s occurring with the OpenSea partnership is that MetaMask tries to pull out all the stops to make sure it’s got the jump on Coinbase. With the launch of Coinbase’s custodial NFT platform looming, OpenSea is trying to make NFTs as accessible as possible. Once the Coinbase platform introduces the ability for collectors to use cryptocurrency to buy NFTs and keep them on-chain, with possibly zero gas fees for NFTs on the platform, it will likely take a toll on the volume and leadership position OpenSea currently enjoys. However, this is a leadership position already under fire from different angles. LooksRare looks to claim market share, while other NFT marketplaces on various blockchains see increased usage.
Buy crypto on MetaMask
To get started, first install the MetaMask wallet on your preferred device. It can be mobile or desktop. After creating a new wallet address or importing an existing one, click the blue Buy button and continue to purchase Ethereum via MoonPay.
Users can now buy crypto via MoonPay directly in the MetaMask wallet by updating Mobile v4.4 and, soon, Extension v10.13. Due to regulatory reasons, Ethereum purchases on MoonPay are available in every US state except New York, Texas, Louisiana, Rhode Island, Hawaii, and the US Virgin Islands.
Once users have ETH in their MetaMask wallet, they can use the integrated swapping service to exchange ETH for another token. On a monthly basis, 117,000 unique active wallets use MetaMask Swap. MetaMask takes a small fee in each swap.
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The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds positions in various cryptocurrencies, including BTC, ETH, and RADAR.
