One of the world's most popular payment services, PayPal, has recently announced its crypto focus with the new integration, namely with MetaMask’s developer ConsenSys. As part of the agreement between the payment companies, customers will be able to use their PayPal accounts to buy, sell, and trade Ethereum from the MetaMask app.
Besides the intention to allow users to seamlessly transfer crypto from PayPal to MetaMask, this collaboration is also aimed at bringing more non-crypto people to web3.
"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," ConsenSys product manager Lorenzo Santos commented on the partnership.
Meanwhile, this bountiful opportunity will be available only to selected US-based clients of PayPal and MetaMask. However, ConsenSys representatives promised to enable all US-based users to transact Ethereum between PayPal and MetaMask mobile apps during the upcoming few weeks. Moreover, other cryptocurrencies are expected to become available soon except for Ethereum. Thus, MetaMask will become the first web3 wallet to leverage PayPal to drive more successful on-ramp transactions.
Once you are one of the lucky US PayPal and MetaMask users, you can add ETH to your wallet with PayPal by doing the following:
- Login into the Mobile MetaMask app
- Click or tap on the Buy button, then select PayPal
- Enter the desired dollar amount worth of ETH to add to your wallet
- Become redirected to PayPal and log in to the app
- Buy crypto via PayPal
The initiative comes as a logical continuation of PayPal's push to crypto transfers between several renowned crypto exchanges earlier in June.
For now, it's unknown whether the two payment companies are going to scale their crypto-transferring services beyond the US borders. Time will show, so stay updated!
