MetaMask and MoonPay team up to simplify fiat on ramp
With Moonpay, Metamask users can now use their credit cards to top up their crypto wallets.
MetaMask users can now use Moonpay to top up crypto wallets. Leading payments provider Moonpay has teamed up with leading crypto wallet provider MetaMask to allow users to purchase ETH with mainstream payment methods.
MoonPay is continuing on its mission to onboard the world to Web3. With this collaboration, MoonPay gets access to over 30 million Metamask users around the world.
After recently announcing a partnership with OpenSea, Selfridges, and getting a backing of $87 million from a range of celebrities, it seems as though Moonpay is well on its way to making crypto easier.
With the most recent announcement on its blog, Moonpay details the advantages of MetaMask with its simplified connection mechanism to many of the most popular NFT marketplaces and its transparency when it comes to the gas fees associated with transactions when using the application.
Using MoonPay to buy crypto via Metamask
Existing users and new users will need to update to the newest version of Metamask, Mobile v4.4 and soon, Extension v10.13 to enable payment via MoonPay. Up until now, you needed to use an external exchange to buy Ethereum and proceed to transfer it to MetaMask.
MoonPay has simplified the process and now added its application to the Metamask interface. To use MoonPay within MetaMask existing users need to upgrade and then click on the blue buy button to purchase Ethereum using MoonPay.
Using MoonPay allows users to directly add funds to their MetaMask accounts without the need for external centralized exchanges in the middle. Making blockchain wallets, like Metamask, more accessible and user-friendly is thought to help onboard newcomers to the blockchain industry.
Moonpay also shared a tweet of the announced partnership which contained simple slides showing how the mobile versions of both applications could work together.
— MoonPay (@moonpay) April 27, 2022
There are some regulation limits for adoption. Although the service is available worldwide there are still some US states that cannot purchase Ethereum using MoonPay, including New York, Texas, Louisiana, Rhode Island, Hawaii and the US Virgin Islands.