iPhone Users May Now Buy Cryptocurrency Using Apple Pay Thanks to MetaMask

MetaMask released a few changes to its mobile version 4.3.1 on March 29. The most notable one is the addition of Apple Pay support as it allows users to buy crypto. 

Apple does not support crypto payments directly from its platform, which seems to be an issue. In regard, there is only one way to make a transaction. This may be done using Wyre, a third-party service. It accepts crypto payments and connects with Apple Pay.

Moreover, there is no longer a need for users to rely on ETH transfers to fund their purchases. They can now buy crypto with debit or credit cards. Apple Pay users can put up to $400 into their wallets each day with their Visa or MasterCard and the Wyre API.

The Acceptance of Credit Card to Buy Crypto

Users of MetaMask are now presented with many options for purchasing crypto. Correspondingly, they can buy crypto with their credit or debit cards. Everyone can do this through the Transak payment system, which MetaMask uses. However, if you want to use either of these payment platforms, you must go through the KYC (know-your-customer) process.

When you use MetaMask on layer-1, you also have to pay gas fees. Despite this fact, the company says it does not make money from them. Additionally, MetaMask also charges its own fees. These fees are 0.875% of the transaction.

As part of the updates, the support for free-gas transactions takes place. This means that private blockchains, a project, or protocols could pay for the gas fees on the user’s behalf.

As of March 15, it was reported that MetaMask had more than 30 million active users each month. This makes MetaMask one of the most widely used crypto-wallets today. Furthermore, there was news about ConsenSys, the Ethereum solutions business behind the wallet. As revealed, ConsenSys announced a $450 million financing round.

Moreover, the CEO of ConsenSys, Joseph Lubin, relieved some important news. He noted that MetaMask is seeking to launch its own token and DAO. However, there is not much information regarding the token. With that being said, users of MetaMask hope for a similar airdrop as Uniswap. 

Attention to Fake Wallet Apps

One of the most popular crypto wallets, MetaMask, continuously attracts hackers and frauds. Regarding this issue, ESET, a cybersecurity company, developed a sophisticated plan. The aim of this plan is to distribute fake wallet programs to Android and Apple devices.

The analysis found that the developed scheme has been functional since May 2021. A scam wallet software for MetaMask, Coinbase, Jaxx, and Trust Wallet was very famous on Facebook groups. Their target is Chinese consumers. As a result, a few of them appeared on Google Play Store too. However, within a short period of time, they were withdrawn in January.

Comments are closed.