MetaMask's New 'Sell' Feature Allows For In-App Crypto-To-Fiat Exchanges
The 'Sell' feature becomes part of the MetaMask Portfolio section and enables the in-app exchange of ETH for fiat. This feature comes five months after the wallet enabled buying cryptocurrency with bank cards and PayPal.
Users are able to convert their ETH to fiat and send it to bank accounts in the US, UK, and some European countries via the new feature. 'Sell' supports local currencies such as the dollar, euro and British pound. The new feature is limited to ETH, but the developers are soon to expand the service to L2 tokens.
We are beyond thrilled to announce our latest feature: Sell.
— MetaMask 🦊💙 (@MetaMask) September 5, 2023
Yes, you read that right. Available on MetaMask Portfolio, ‘Sell’ allows you to cash out your crypto for fiat currency easily.
🔗 Discover more at https://t.co/aaSgTswEMo pic.twitter.com/pJa1ZndLQA
Besides, MetaMask supports EVM-based networks such as Arbitrum, Optimism, BNB Chain, Polygon and Avalanche. It is not clear at the moment which of these networks 'Sell' will support.
MetaMask continues its initiative to lower the entry threshold into the crypto space. The wallet has enabled customers from over 189 countries to fund their accounts using credit and debit cards, as well as bank transfers and PayPal accounts.
'Sell' also complements the existing 'Buy' feature, which was launched on the platform in April 2023. It supports more than 75 tokens on 8 blockchains in different countries and supports a wide range of payment methods, including debit and credit card transfers, PayPal transfers and more.
The developers are positive that the new features make it possible to completely get rid of third-party agents.
On top of that, MetaMask developer, Consensys, has announced the upcoming launch of MetaMask Snaps. It opens up the possibility of the in-app interaction with different blockchains such as Bitcoin, Solana, Avalanche and Starknet.
It is going to operate like a decentralized version of Apple's App Store. Users can download side extensions for their MetaMask wallet.
