Crypto Adoption: MetaMask Wallet Teams Up with PayPal to Enable Customers to Buy ETH Directly
ConsenSys, the developer of the popular crypto wallet MetaMask, announced its partnership with PayPal in a new leap for crypto adoption.
The Ethereum (ETH) software firm said on Wednesday that mobile MetaMask users in the US would be able to buy ETH from within the MetaMask app using the payment giant - meaning, they can buy and transfer this crypto from PayPal to MetaMask.
This option is quite limited for now, with the company stating that,
"This new functionality is available to select U.S. users starting today and rolling out to all eligible U.S. customers in the coming weeks."
Using PayPal within MetaMask is rather straightforward as it's meant to enable users to select their PayPal accounts as a payment option within the wallet app.
Users need to login into the Mobile MetaMask App, click the Buy button, select ‘PayPal’, and enter the USD amount worth of ETH to add to the wallet, at which point they will be redirected to PayPal to log in. They can then choose to either complete the transaction if they have enough ETH to send, or buy more via PayPal.
The press release said that this "will be the first Web3 wallet to leverage PayPal to drive more successful on-ramp transactions."
Additionally, Lorenzo Santos, Product Manager for MetaMask, was quoted as saying that the integration with PayPal would allow the select users to "not just buy crypto seamlessly through MetaMask, but also to easily explore the Web3 ecosystem."
This is a major move, given that MetaMask is one of the most popular self-custodial wallets, and it enables its users to explore and interact with, not only cryptocurrencies, but also decentralized finance (DeFi) applications (dapps), decentralized autonomous organizations (DAOs), play-and-earn games,
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