Users in the United States will soon be able to make purchases of Ethereum inside the MetaMask app using PayPal, according to an announcement made by Consensys, the New York-based blockchain software firm that is behind MetaMask.
The announcement states, “MetaMask will be the first Web3 wallet to leverage PayPal to drive more successful on-ramp transactions.”
Because of this connectivity, purchasing and transferring ETH from PayPal to MetaMask is now a simple process. In the beginning, only a select few PayPal customers in the United States will be able to make advantage of this feature.
How to use PayPal within MetaMask
- Login into the Mobile MetaMask App.
- Click or tap on the Buy button, then select ‘PayPal.’
- Enter the desired dollar amount worth of ETH to add to your wallet; you will be redirected to PayPal to log in
- Buy your crypto via PayPal, or if you have enough ETH to complete the transaction, send it without buying more.
“This connection with PayPal will enable our U.S. customers to not only purchase cryptocurrency effortlessly via MetaMask, but it will also make it easy for them to explore the Web3 ecosystem,” said Lorenzo Santos, Product Manager for MetaMask.
The integration announcement was met with some level of criticism from the community due to the centralized structure of PayPal, which is generally known. The now-defunct disinformation policy of Paypal was under investigation, which would have allowed the business to deduct $2,500 from user accounts for disseminating “misinformation.” This circumstance drove home the need of widespread adoption of cryptocurrencies.
Metamask has also come under fire for several reasons. Consensys came under fire in November for gathering users’ wallets and IP addresses via its blockchain infrastructure service Infura. This placed the customers’ privacy at risk, and Consensys was called out for it.
Compiled by Coinbold