MetaMask Shows Off Its New 'Sell' Function for Easier ETH to Fiat Transactions
In Brief
The cryptocurrency wallet MetaMask has officially announced the introduction of a new feature enabling users to exchange their ETH for fiat currency.
Users now have the ability to cash out their ETH and transfer funds in USD, EUR, and GBP directly to their bank accounts in the U.S., U.K., and select areas of Europe.
This feature can be accessed through the Portfolio decentralized application offered by MetaMask.
Cryptocurrency wallet MetaMask The announcement highlighted that users can conveniently convert their Ether into fiat currency in a smooth transaction process.
At present, users can cash out their ETH seamlessly and send USD, EUR, or GBP to their respective bank accounts across the U.S., U.K., and parts of Europe. post on September 5.
Initially, MetaMask’s fiat-to-crypto conversion capability focuses solely on ETH within the Ethereum mainnet, but future plans include expanding support to integrate 'native gas tokens on Layer-2 networks'.
Users can take advantage of this feature within MetaMask’s Portfolio decentralized application.
With the new 'Sell' option, users can now leverage this alongside the existing 'Buy' feature, enabling a cohesive web3 experience that minimizes the involvement of intermediaries. This leads to a more prompt conversion of fiat to preferred wallets, whether that’s straight to a bank account or adding to a PayPal balance.
The introduction of the 'Sell' functionality comes roughly five months after MetaMask initially launched its 'buy crypto' service, allowing users to purchase cryptocurrencies using conventional fiat methods, thus broadening its service to over 189 countries and access to more than 90 different tokens. application .
Earlier this year in March, MetaMask also debuted a staking marketplace designed for institutional clients, further diversifying its offerings beyond casual retail investors. Additionally, the company has partnered with leading crypto on-ramp providers such as MoonPay, Sardine, Transak, and Wyre to enhance its range of services.
Despite its growing popularity among retail investors globally, MetaMask has encountered security issues as scammers continue to target its users through various deceptive websites.
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In line with the Trust Project guidelines Valeria holds a Master's degree in Public Communications and is pursuing a second Major in International Business Management. In her leisure time, she enjoys photography and fashion styling. She embarked on her journey in journalism and style at the young age of 13 when she started her first fashion blog.
