Blockchain technology company ConsenSys has announced that PayPal will be fully integrated into the MetaMask wallet. This integration will allow MetaMask users to purchase Ethereum (ETH) directly from their wallet using their PayPal account as a payment method. It is an important step in the widespread adoption of cryptocurrencies.
Currently only available to select customers in the United States
Blockchain software technology company ConsenSys has announced that its Metamask Web3 wallet will integrate PayPal, allowing users to purchase Ethereum (ETH) from the wallet using funds from their PayPal accounts.
ConsenSys indicated that the feature will initially be available to select PayPal users in the United States, but will roll out to the rest of the market in the coming weeks.
The integration with MetaMask will allow users to purchase and transfer ETH by logging into their wallet, tapping the “buy” button, and logging into PayPal before making a purchase.
The new feature is intended to attract more users to the cryptocurrency ecosystem as the industry is looking for a way out of an extended bear market that has wreaked havoc.
MetaMask is one of the leading cryptocurrency wallets and relies on browser integration and good design to serve as one of the main gateways into the world of Web3, decentralized finance (DeFi) and NFTs. Integrating it with PayPal and simplifying the cryptocurrency purchasing process could help broaden the customer base for some of these apps.
“This integration with PayPal will allow our US users to not only seamlessly purchase crypto through MetaMask, but also to easily explore the Web3 ecosystem,” MetaMask product manager Lorenzo Santos said in the press release.
PayPal continues its adaptation with cryptocurrencies
In recent years, PayPal has supported cryptocurrency in a number of ways. In 2020, it introduced the ability for clients to buy, hold, and sell cryptocurrency on its platform. Last year, it added a “cryptocurrency payment” feature that supported various digital currencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
How to use PayPal within MetaMask
To buy Ethereum (ETH) in your MetaMask wallet with PayPal:
Log in to the Mobile MetaMask app. Click or tap the Buy button, then select ‘PayPal’ Enter the desired dollar amount of ETH to add to your wallet; you will be redirected to PayPal to log in Buy your crypto through PayPal, or if you have enough ETH to complete the transaction, send it without buying more. Clever.
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