MetaMask Mobile Users Can Now Use PayPal To Buy ETH

MetaMask mobile users can now buy ETH using PayPal. This means that users can now use the popular online payment platform to purchase Ethereum directly from their mobile device.

PayPal is best known as an online payment method, but the company is looking to become a easy way to get started with cryptocurrencies. To that end, ConsenSys, the company behind MetaMask, announced that it would add an integration to its crypto wallet so users could buy cryptocurrencies using their PayPal account.

Even though the recent market crash has led many cryptocurrency investors to worry about the future of the industry, global payment giant is moving toward a future that involves cryptocurrency.

There is an increasing number of service providers who are looking into the possibility of integrating cryptocurrency into their products and services. This growing trend could potentially revolutionize the way we exchange value and conduct business transactions.

In the Web3 journey to attract more users and offer a seamless experience, this is great news for those who have been looking for an easy and convenient way to buy ETH. The feature will be available to some users in the U.S. before it is rolled out to everyone in the U.S.

“This integration with PayPal will allow our U.S. users to not just buy crypto seamlessly through MetaMask, but also to easily explore the Web3 ecosystem,” MetaMask product manager Lorenzo Santos said in the statement.

The partnership between MetaMask and PayPal will surely be beneficial for both companies. For MetaMask, this could mean an increase in conversion rates with existing on-ramp solutions. KYC (“know your customer”) processes can be pretty daunting and often act as a deterrent, so this could be a big step up for them! . It means that users will have to enter a bunch of personal information and verify their identity with some form of ID.

According to PayPal’s most recent earnings report, there are already 430 million PayPal accounts in the world. If MetaMask users see a big button that says they can buy cryptocurrencies with their PayPal account, it will nudge them to easily buy crypto. As for PayPal, this is going to generate some revenue, as the company charges fees to buy cryptocurrencies.