Technology news

MetaMask users can now buy cryptocurrency with Apple Pay

MetaMask, a popular cryptocurrency wallet provider has announced the integration of Apple Pay into its app and website. Although Apple does not directly support crypto payment directly, MetaMask users will be redirected to Wyre, a crypto exchange that facilitates the buying and selling of cryptocurrency, users will now have the ability to perform payment by credit or debit card via Apple Pay.

Apple Pay users can deposit a daily maximum of $400 into their wallet using their Visa or Mastercard and the Wyre API.

For the uninitiated, MetaMask is a crypto wallet service provider that allows users to store cryptocurrencies such as Ethereum, Bitcoin, etc. and even NFTs. It allows users to connect to over 3,700 decentralized applications and 3 different web services.

The crypto firm announced the new round of updates on Twitter. To add cryptocurrency, MetaMask charges a gas fee as well as its own transaction fee, which is 0.875% of the transaction. According to MetaMask, it earns nothing from the gas fees, only from the transaction fees it charges.

It should be noted that in order to use either Apple Pay platform, you must go through the KYC (know your customer) process. The company has also added support for private blockchains. “Some networks allow transactions without gas (e.g. private blockchains, or when a project/protocol pays for gas on your behalf),” the company said on Twitter, adding that it now supports these. types of transactions.

According to a press release, MetaMask said in March it surpassed 30 million monthly active users, making it one of the most popular crypto wallets available today.

In other news, MetaMask said it bans all accounts based in U.S. government-sanctioned countries. The development comes as the United States and its allies imposed sanctions on Russia following Moscow’s invasion of Ukraine. MetaMask’s parent company, ConsenSys, said it abides by US sanctions on “Iran, North Korea, Cuba, Syria, and the Crimea, Donetsk, and Luhansk regions of Ukraine.”