- MetaMask charges a 0.875 percent transaction fee.
- The Wyre API and Visa or Mastercard may be used to deposit up to $400 each day.
When MetaMask released its mobile version 4.3.1 on March 29, the most noteworthy change was the addition of Apple Pay. Using Wyre, a third-party service that accepts crypto payments and connects with Apple Pay is the only way to make a transaction. With the addition of debit and credit card purchases, users are no longer reliant on ETH transfers to fund their purchases. Instead, the Wyre API and Visa or Mastercard may be used to deposit up to $400 each day into an Apple Pay wallet.
Using the Transak payment system, MetaMask now allows users to purchase crypto using their credit or debit cards. However, those who want to use any payment platform must go through the KYC procedure.
Although the company claims to not benefit from the gas costs, using MetaMask on layer-1 does incur expenses. Additionally, MetaMask charges a 0.875 percent transaction fee. Therefore, support for gasless transactions, in which private blockchains or protocols pay for the gas on the user’s behalf, was also included in this release.
Recent Growth and Funding
One of the most widely used cryptocurrency wallets, MetaMask, recently topped 30 million monthly active users, according to new research. In addition, ConsenSys, the Ethereum solutions startup behind the wallet, recently announced a $450 million funding round.
Joseph Lubin, CEO of ConsenSys, stated on March 16 that MetaMask would be establishing its own coin and decentralized autonomous organization. Long-term MetaMask users will anticipate an airdrop akin to Uniswap’s; however, there was very little information about the token.
Hackers and fraudsters target MetaMask because it is one of the most popular wallets for exchanging cryptocurrencies. Security Company ESET has identified an intricate attempt to spread fraudulent wallet programs for Android and iOS smartphones.
