Crypto wallet firm MetaMask has updated its iOS app, enabling iPhone users to buy crypto with Apple Pay.
The update opens debit and credit cards for use through MetaMask's mobile app, which means that users now don't need to transfer Ethereum (ETH) to their respective wallets from another platform in order to use MetaMask and handle their tokens.
Owned by ConsenSys and launched sometime in 2016, MetaMask is considered as one of the most used software cryptocurrency wallets for interacting with the Ethereum blockchain. It currently has builds for a browser extension and mobile applications for both Android and iOS.
Alongside the update, MetaMask has also issued a security update for its users, providing clear information for tokens sent to a recipient address. The requesting contract is now visible for transactions that are sent with a specific amount of tokens based on a prior permission, with and added label and option to save the contract under a designated name. The update for iOS also introduces Dark Mode compatibility: users who opt for Dark Mode through their iOS device settings will now be able to use MetaMask in Dark Mode, reducing glare from the previously all-white design of the wallet interface.
"We wanted to expand the way in which users can convert crypto within the app itself and not have to leave it," shares ConsenSys director of communications James Beck.
For the new update for iOS to function, MetaMask makes use of two payment gateways: Wyre and Transak. The two payment gateways act as "vendors" who would then support and process debit and credit card transactions for users. With the new functionality for iOS, Mastercard or Visa holders who have opted to connect their cards with Apple Pay may now purchase ETH directly from their mobile devices. However, MetaMask has currently set a limit of up to $400 worth of deposits daily through the Wyre payments API.
Notably, gas fees for such transactions are lower than usual. If a specific transaction is executed from a private blockchain, say an unlisted token or an upcoming project, there is a possibility that the transaction may be gasless. MetaMask claims that it does not profit from gas fees for all ETH purchases through these methods.
With Transak, users are also offered the options of purchasing stablecoins such as USDT (Tether), DAI (Dai), and USDC (Circle's USD Coin) directly on the Ethereum mainnet. MetaMask's latest update now allows users to execute bank transfers and use credit/debit cards to purchase crypto with 60 listed fiat currencies. MetaMask has also added support for Fantom (FTM) and Avalanche (AVAX) tokens, but these tokens will only be available for users in the U.S., while payment methods and fees vary based on a user's location.
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