Metamask v4.3.1, the popular crypto wallet, has further reduced the complexities surrounding buying cryptocurrencies with its latest update. Their service runs on browsers like Google Chrome, Opera, Firefox, etc, and is also available as an app from the Apple App Store and Play Store. This, coupled with the fact that MetaMask uses Apple Pay, adds crypto transactions to Apple’s payments platform. But, there is a catch.
Apple’s platform does not natively support transfers through cryptocurrencies. This problem is countered by using Wyre. Wyre is an exchange that is used to convert crypto to fiat currencies. This has been integrated with Apple Pay, allowing users to buy cryptocurrencies like Ethereum and Bitcoin using the app.
ConsenSys, the company behind the application, said, “We wanted to expand the way in which users can convert crypto within the app itself and not have to leave it.” This update will make owning cryptocurrencies purchases much easier, thereby boosting its adoption.
The current system, however, has a purchase limit. Users can only deposit a maximum of 400$ daily. Although that value isn’t low, it might be limiting for some users. The currently accepted payment methods are Visa, Mastercards, and the Wyre API. Users can also alternatively choose to use Transak payments to buy cryptocurrencies using credit or debit cards. This adds an entirely new dimension to the system, but required users to fill up their know-your-customer (KYC) forms.
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