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MetaMask launches feature to sell ETH for fiat

  • September 5, 2023
  • Posted by: admin
  • Category: BitCoin, Blockchain, Cryptocurrency, Investments
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The sell feature on MetaMask Portfolio came roughly five months after the wallet allowed users to purchase crypto using fiat from bank accounts, PayPal, and debit and credit cards.

Cryptocurrency wallet MetaMask has announced the launch of a feature allowing users to sell Ether (ETH) for fiat currency.

In a Sept. 5 post on X — formerly Twitter — MetaMask said users with crypto wallets connected to the platform’s Portfolio decentralized application would be able to cash out ETH and send fiat to their bank accounts in the United States, United Kingdom, and parts of Europe. MetaMask said the initial rollout was limited to ETH, but planned to expand to “native gas tokens on layer 2 networks” in the future.

The sell feature came roughly five months after MetaMask launched a function allowing users to purchase cryptocurrencies using fiat from bank accounts, PayPal, and debit and credit cards. The platform said at the time it planned to roll out the ‘buy crypto’ service for more than 90 tokens to users in more than 189 countries.

Related: MetaMask rolls out ETH purchases via PayPal to US users

MetaMask has previously announced partnerships with crypto on-ramp providers including MoonPay, Sardine, Transak and Wyre. In March, the platform launched a staking marketplace for its institutional clients.

The crypto wallet, used by many retail investors in various countries, has often been a target for scammers and bad actors. Cointelegraph reported on Sept. 5 that scammers had taken control of certain government websites in India, Nigeria, Egypt, Colombia, Brazil, and Vietnam in order to trick users into sending their personal information to fake MetaMask sites.

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