Soon, users of the well-liked MetaMask Web3 wallet will be able to use PayPal to purchase Ether.
The integration with ConsenSys’s MetaMask will allow users to buy and transfer Ether by logging in to MetaMask, tapping the “buy” button, and logging into PayPal before making a purchase, much like PayPal’s checkout feature at online shops like Etsy and eBay.
MetaMask users in the United States will be able to purchase ether using PayPal as of this Wednesday, according to a statement from the company. The feature will then be available to all U.S. users in the following weeks.
The first step in interacting with Web3 applications like play-to-earn games and some metaverse platforms is frequently opening a cryptocurrency wallet like MetaMask.
“This integration with PayPal will allow our U.S. users to not just buy crypto seamlessly through MetaMask, but also to easily explore the Web3 ecosystem,” said MetaMask product manager Lorenzo Santos.
By making the process of purchasing cryptocurrency less complicated, PayPal’s integration with MetaMask might increase the customer base for some of these applications.Â
Over the past few years, PayPal has embraced cryptocurrency in a number of ways. A “checkout with crypto” feature that supported Bitcoin, Litecoin, Ethereum, and Bitcoin Cash was added in 2021 after it first enabled customers to buy, hold, and sell cryptocurrencies on its platform in 2020.
Since 2020, PayPal has largely kept customer cryptocurrency funds isolated within its ecosystem; however, starting in June, users were able to move any cryptocurrency they had purchased through PayPal to other wallets or exchanges.