Cryptocurrency wallet MetaMask has introduced a feature allowing users to sell Ether (ETH) for fiat currency and transfer the funds to bank accounts in the United States, the United Kingdom, and parts of Europe.
MetaMask, a popular cryptocurrency wallet, has introduced a new feature that enables users to sell Ether (ETH) for fiat currency. This feature is available to users with crypto wallets connected to the MetaMask Portfolio decentralized application.
With this new feature, MetaMask users can cash out their Ether holdings and transfer the funds to their bank accounts. Initially, the service was limited to users in the United States, the United Kingdom, and certain European countries. However, MetaMask plans to expand this feature to include "native gas tokens on layer 2 networks" in the future.
This development comes approximately five months after MetaMask introduced the capability for users to purchase cryptocurrencies using fiat from bank accounts, PayPal, debit cards, and credit cards. At that time, MetaMask expressed its intention to make the "buy crypto" service available for over 90 tokens and to users in more than 189 countries.
MetaMask has established partnerships with various crypto on-ramp providers, including MoonPay, Sardine, Transak, and Wyre. In March, the platform launched a staking marketplace for institutional clients.
It's worth noting that MetaMask has been a target for scammers and bad actors. Recently, scammers gained control of government websites in several countries, including India, Nigeria, Egypt, Colombia, Brazil, and Vietnam, to deceive users into providing their personal information on fake MetaMask websites. Users should exercise caution and verify the authenticity of the websites and services they use with MetaMask to protect themselves from potential scams.
(TURNER WRIGHT, CoinTelegraph, 2023)