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- 1 The web3 wallet now took one step ahead and joined hands with PayPal that gives U.S. users a chance to buy Ethereum (ETH).
- 2 The price of ETH declined nearly 2% in the last 24-hours, also showing a bearish outlook.
MetaMask, the web3 wallet, announced that the U.S. users are now able to buy ETH using PayPal, a digital payment space. On May 9th, MetaMask shared its latest update related to ETH. After this update it will become quite easier to buy ETH with PayPal, as the web3 wallet mentioned. However, the wallet excluded the users from Hawaii.
MetaMask’s Buy ‘ETH’ Option with PayPal
As MetaMask noted, it is giving a buy crypto solution within its wallet space. In its payment list, PayPal will now be an option for U.S. users to choose as a payment method. After this latest update, MetaMask became the “first web3 wallet that helps its users to buy ETH using PayPal,” as it added. Moreover, the integration supports “the transfer of ETH from PayPal to MetaMask.” This helps web3 wallet in its self-custody adoption.
Furthermore, MetaMask stated this latest integration allows its users to “use their PayPal balance, linked bank account, or debit card to add ETH to their MetaMask wallet directly.”
Last year both companies announced their collaboration, when PayPal joined hands with MetaMask’s ConsenSys. This team-up was on their way to explore more in the web3 space and buy crypto. At that time, Metamask Product Manager Lorenzo Santos said that “It will not only allow users to buy crypto seamlessly but it will also help them to explore Web3.”
This can be said that Metamask is constantly working on its web3 and crypto space. Before this, Metamask has also launched its new feature on its Portfolio DApp. The web3 wallet named it “Buy Crypto” that allows users to buy crypto with fiat currency.
On the other hand, the fin-tech firm also joined a wide ecosystem of payment networks. The firm already integrates with Metamask, including Coinbase Pay, Moonpay, Sardine, Transak and Wyre. The U.S. Securities and Exchange Commission (SEC) also disclosed that this firm has a total of $943 Million in crypto assets as of March 31th, 2023. This is a 56% jump from the previous quarter, when the company reported its $604 Million worth of crypto assets.
However, the price of ETH at press time trading at $1761.08, showing its downtrend. There is not so much impact seen on ETH price regarding MetaMask and PayPal team-up, till now. The ETH price showed an almost 7% drop in the last 7-days. While marked low at $1742.40 and high at $1836.07 in recent one week.
Last year, due to crypto winter most of the cryptocurrencies were trading downward. While ETH price also reached $993.4 in mid of last year. It is down nearly 15% in the last 1 year but year-to-date (YTD) growth is near to 50%, as per the data sourced from Trading view.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
