MetaMask Rolls Out ‘Sell’ Feature to Ease ETH-to-Fiat Conversion
In Brief
Cryptocurrency wallet MetaMask has announced the launch of a new feature that enables users to sell ETH for fiat currencies.
Currently, users can cash out ETH and send USD, EUR, and GBP to their bank accounts in the United States, the United Kingdom, and parts of Europe.
Individuals can use the feature within MetaMask’s Portfolio decentralized application.
Cryptocurrency wallet MetaMask has announced the launch of a new feature that enables users to sell ETH for fiat currencies.
The company shared the news in an X (former Twitter) post on September 5.
In the announcement, MetaMask said that the functionality allows users to seamlessly sell their Ether holdings and receive fiat currency in return.
Currently, users can cash out ETH and send USD, EUR, and GBP to their bank accounts in the United States, the United Kingdom, and parts of Europe.
MetaMask’s fiat-to-crypto conversion feature is initially limited to ETH on the Ethereum mainnet. However, the company plans to expand to “native gas tokens on Layer-2 networks” in the future.
Individuals can use the feature within MetaMask’s Portfolio decentralized application.
Users can utilize the “Sell” feature alongside the “Buy” function for a self-sufficient web3 experience. This combination reduces the need for middlemen and facilitates quicker conversion of fiat currency directly to users’ preferred destinations. The latter might be one’s bank account or PayPal balance.
The “Sell” feature comes approximately five months after the platform launched its “buy crypto” service. It enables users to buy cryptocurrencies using traditional fiat methods, expanding its reach to users in over 189 countries and offering access to more than 90 tokens.
In March this year, MetaMask also launched a staking marketplace targeted at its institutional clients, expanding its offerings beyond retail investors. The company has also previously partnered with key crypto on-ramp providers MoonPay, Sardine, Transak, and Wyre to diversify its service offerings.
However, while MetaMask’s popularity continues to soar among retail investors worldwide, it has also faced security challenges, with scammers targeting users through numerous fraudulent websites.
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About The Author
Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]
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Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]
