MetaMask users can now buy cryptocurrency using Apple Pay

insidetrack IndiaApril 4, 2022

600 1 minute read

MetaMask, a popular cryptocurrency wallet provider announced Apple Pay integration to its app and website. While Apple doesn’t directly support crypto payment directly, MetaMask users will be redirected to Wyre, a cryptoexchange that facilitates buying and selling of cryptocurrency, users will now have the option to make the payment via credit or debit card through Apple Pay.
Apple Pay users can deposit a daily maximum of $400 into their wallet using their Visa or Mastercards and the Wyre API.
For the uninitiated, MetaMask is a crypto wallet service provider which allows users to store cryptocurrencies such as Ethereum, Bitcoin, etc and even NFTs. It allows users to connect to more than 3,700 different decentralized applications and Web 3 services.

The crypto company announced the new slew of updates on Twitter. To add any cryptocurrency, MetaMask charges gas fee as well as its own transaction fees which is 0.875 per cent of the transaction. As per MetaMask, it does not earn anything from the gas fee but only earns from the transaction fee it charges.
It should be noted that to use either Apple Pay platforms must complete KYC (know-your-customer) process. The company has also added support for private blockchains. “Some networks allow for gasless transactions (e.g. private blockchains, or when a project/protocol pays for the gas on your behalf),” the company said on Twitter adding that it now supports these types of transactions.

According to a press release, MetaMask said in March that it surpassed 30 million monthly active users, making it one of the most popular crypto wallets available today.
In other news, MetaMask said it is banning all accounts based in the sanctioned countries the US government. This development comes as the US and its allies imposed sanctions on Russia following Moscow’s invasion of Ukraine. MetaMask’s parent company, ConsenSys said that it observes US.sanctions on “Iran, North Korea, Cuba, Syria, and the Crimea, Donetsk, and Luhansk regions of Ukraine.”

insidetrack IndiaApril 4, 2022

600 1 minute read

insidetrack India

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