New Feature Enables Nigerian Metamask Wallet Users to Buy Crypto Assets Within the App

0 6

knife

Metamask users in Nigeria can now directly and instantly buy crypto assets within the mobile app, Consensys and its Web3 infrastructure partner Moonpay have said. According to a Consensys executive, rolling out this feature helps to reduce friction while bringing down barriers that block or stop Nigerians from embracing Web3.

Purchasing Crypto via Instant Bank Transfers

Consensys, one of the leading Web3 firms, has said users of the Metamask wallet in Nigeria can now directly purchase crypto assets within the mobile app. To help it make this possible, Consensys partnered with the Web3 infrastructure company Moonpay. The addition of this feature allows users from the country to purchase crypto assets without having to set up accounts with centralized crypto exchanges.

In a March 21 joint statement, Consensys said the decision to enable direct purchases had been prompted by the very high number of declined or blocked transactions when the method of payment is a credit or debit card. However, using this recently added feature, Metamask users can now use instant bank transfers to purchase crypto within the mobile app and the portfolio dapp (decentralized application).

Simplifying User Experience

Commenting on the addition of the new feature to the wallet, Lorenzo Santos, the senior product manager at Metamask, noted:

This is an essential next step in a critical market that has embraced crypto and Web3 but faces serious challenges when using [the] fiat to crypto on-ramp. We are reducing friction and bringing down barriers to keep supporting Nigerians as they onboard into Web3.

Zeeshan Feroz, the chief product & strategy officer of Moonpay, said the integration makes it possible for Nigerians to fund their self-custody wallet through what he described as “a simplified user experience.”

Meanwhile, the statement also revealed that Consensys and its partner plan to roll out this feature in Kenya, Botswana, and South Africa in the coming month.

Register your email here to get a weekly update on African news sent to your inbox:

What are your thoughts on this story? Let us know what you think in the comments section below.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 70,784.97
ethereum
Ethereum (ETH) $ 3,563.61
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 585.37
solana
Solana (SOL) $ 188.57
staked-ether
Lido Staked Ether (STETH) $ 3,555.70
xrp
XRP (XRP) $ 0.621604
usd-coin
USDC (USDC) $ 0.999914
dogecoin
Dogecoin (DOGE) $ 0.216259
cardano
Cardano (ADA) $ 0.646152
avalanche-2
Avalanche (AVAX) $ 54.10
shiba-inu
Shiba Inu (SHIB) $ 0.000031
the-open-network
Toncoin (TON) $ 4.88
polkadot
Polkadot (DOT) $ 9.42
bitcoin-cash
Bitcoin Cash (BCH) $ 568.85
chainlink
Chainlink (LINK) $ 19.01
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 70,799.97
tron
TRON (TRX) $ 0.12043
uniswap
Uniswap (UNI) $ 12.69
matic-network
Polygon (MATIC) $ 0.998202
internet-computer
Internet Computer (ICP) $ 17.80
near
NEAR Protocol (NEAR) $ 7.05
litecoin
Litecoin (LTC) $ 93.94
aptos
Aptos (APT) $ 17.14
leo-token
LEO Token (LEO) $ 6.05
blockstack
Stacks (STX) $ 3.53
filecoin
Filecoin (FIL) $ 9.27
dai
Dai (DAI) $ 0.998288
cosmos
Cosmos Hub (ATOM) $ 12.28
ethereum-classic
Ethereum Classic (ETC) $ 32.42
arbitrum
Arbitrum (ARB) $ 1.65
render-token
Render (RNDR) $ 11.10
immutable-x
Immutable (IMX) $ 2.91
crypto-com-chain
Cronos (CRO) $ 0.152949
stellar
Stellar (XLM) $ 0.137538
dogwifcoin
dogwifhat (WIF) $ 3.92
hedera-hashgraph
Hedera (HBAR) $ 0.114991
the-graph
The Graph (GRT) $ 0.407515
mantle
Mantle (MNT) $ 1.18
okb
OKB (OKB) $ 63.12
optimism
Optimism (OP) $ 3.71
bittensor
Bittensor (TAO) $ 526.46
injective-protocol
Injective (INJ) $ 38.23
fetch-ai
Fetch.ai (FET) $ 3.24
maker
Maker (MKR) $ 3,625.45
vechain
VeChain (VET) $ 0.045937
pepe
Pepe (PEPE) $ 0.000008
kaspa
Kaspa (KAS) $ 0.138498
thorchain
THORChain (RUNE) $ 9.18
theta-token
Theta Network (THETA) $ 2.93
fantom
Fantom (FTM) $ 0.995605
arweave
Arweave (AR) $ 41.69
sui
Sui (SUI) $ 2.11
lido-dao
Lido DAO (LDO) $ 2.87
first-digital-usd
First Digital USD (FDUSD) $ 0.996291
celestia
Celestia (TIA) $ 14.35
gala
GALA (GALA) $ 0.065854
monero
Monero (XMR) $ 135.31
floki
FLOKI (FLOKI) $ 0.00025
sei-network
Sei (SEI) $ 0.876092
algorand
Algorand (ALGO) $ 0.270063
rocket-pool-eth
Rocket Pool ETH (RETH) $ 3,926.41
flow
Flow (FLOW) $ 1.37
quant-network
Quant (QNT) $ 137.59
bitcoin-sv
Bitcoin SV (BSV) $ 97.87
mantle-staked-ether
Mantle Staked Ether (METH) $ 3,615.20
bonk
Bonk (BONK) $ 0.000029
beam-2
Beam (BEAM) $ 0.035651
aave
Aave (AAVE) $ 127.08
conflux-token
Conflux (CFX) $ 0.480616
jupiter-exchange-solana
Jupiter (JUP) $ 1.31
singularitynet
SingularityNET (AGIX) $ 1.38
wrapped-eeth
Wrapped eETH (WEETH) $ 3,680.40
havven
Synthetix Network (SNX) $ 5.06
starknet
Starknet (STRK) $ 2.25
dydx-chain
dYdX (DYDX) $ 3.53
elrond-erd-2
MultiversX (EGLD) $ 60.61
ribbon-finance
Ribbon Finance (RBN) $ 1.69
bittorrent
BitTorrent (BTT) $ 0.000002
axie-infinity
Axie Infinity (AXS) $ 11.01
the-sandbox
The Sandbox (SAND) $ 0.688697
ether-fi-staked-eth
ether.fi Staked ETH (EETH) $ 3,561.44
bitget-token
Bitget Token (BGB) $ 1.01
ethena-usde
Ethena USDe (USDE) $ 1.00
ordinals
ORDI (ORDI) $ 65.97
ecash
eCash (XEC) $ 0.00007
tezos
Tezos (XTZ) $ 1.40
pyth-network
Pyth Network (PYTH) $ 0.908241
worldcoin-wld
Worldcoin (WLD) $ 8.33
mina-protocol
Mina Protocol (MINA) $ 1.25
gatechain-token
Gate (GT) $ 9.66
ondo-finance
Ondo (ONDO) $ 0.901363
flare-networks
Flare (FLR) $ 0.035291
chiliz
Chiliz (CHZ) $ 0.143335
apecoin
ApeCoin (APE) $ 2.02
eos
EOS (EOS) $ 1.10
ronin
Ronin (RON) $ 4.09
decentraland
Decentraland (MANA) $ 0.666898
axelar
Axelar (AXL) $ 2.00
akash-network
Akash Network (AKT) $ 5.30