MetaMask Allows iPhone Users to Buy Crypto With Apple Pay

MetaMask released a slew of changes to its mobile version 4.3.1 on March 29, the most notable of which was the addition of Apple Pay support.

The hitch is that Apple does not enable crypto payments directly through its platform, so you’ll have to go through Wyre, which does and interacts with Apple Pay.

Users may now purchase cryptocurrency using their debit or credit cards, removing the requirement to transmit ETH to the app ahead of time. Using their Visa or Mastercards and the Wyre API, Apple Pay customers can deposit a daily maximum of $400 into their wallet.

MetaMask also makes use of the Transak payment infrastructure, which allows users to purchase cryptocurrency using their credit or debit cards. Those who want to use either payment platform, however, must go through the KYC (know-your-customer) process.

Using MetaMask on layer-1 does also incurs gas fees, however, even though the firm says it does not profit from them. MetaMask also has its own fees, which are 0.875% of the transaction.

One of the other updates was support for gasless transactions, which is when private blockchains, or a project or protocol, pay for the gas on the user’s behalf.

On March 16, ConsenSys CEO Joseph Lubin announced that MetaMask will be launching its own token and DAO. There was very little info on the token, but long-term MetaMask users will be hoping for an airdrop similar to Uniswap’s.

Beware fake wallet apps – MetaMask

MetaMask is a target for hackers and scammers because it is one of the most popular wallets for crypto trading. ESET, a cyber security organization, recently identified a complex plan to spread fraudulent wallet programs to Android and Apple devices.

The fraud has been going on since May 2021, according to the research, and bogus wallet software for MetaMask, Coinbase, Jaxx, and Trust Wallet have been circulated on Facebook groups to target Chinese consumers.

Several of them even made it onto the Google Play Store before being pulled by the tech giant in January.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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