MetaMask unveils new feature allowing users to cash out crypto to fiat

In this post:

  • MetaMask Portfolio has introduced a new “Sell” feature that allows users to easily convert their cryptocurrencies into fiat currencies such as USD, EUR, and GBP, enhancing the platform’s existing “Buy” feature for a seamless web3 experience.
  • The feature aggregates multiple vetted providers to offer real-time conversion rates, initially supporting ETH on the Ethereum Mainnet with plans to expand to other tokens and layer 2 networks.
  • Initially available in the US, UK, and parts of Europe, MetaMask aims to extend this feature globally, making web3 technology more accessible by providing easy entry and exit points to the crypto market.

In a significant update, MetaMask Portfolio has rolled out a new Sell feature that enables users to easily convert their cryptocurrencies into fiat currencies like USD, EUR, and GBP. This addition aims to provide a more self-sufficient Web3 experience by reducing the number of intermediaries involved in the conversion process.

A diverse array of vetted providers

According to a blog post on Tuesday, MetaMask’s Sell feature is not confined to a single provider. Instead, it aggregates various vetted providers to offer users real-time options for converting digital assets.

The process to sell crypto is straightforward: Users need to connect their MetaMask wallet to the portfolio platform, select their region, and choose the token and network they wish to sell from. They can then select their preferred fiat account destination, such as a bank account or PayPal balance. Real-time quotes from different providers are presented, allowing users to select the most favorable option. Once confirmed, the transaction is securely redirected to the chosen provider’s website for finalization.

Global reach with plans for further expansion

Currently, the Sell feature is available in the United States, the United Kingdom, and parts of Europe. MetaMask has plans to expand this service to more regions, catering to its worldwide community. Initially, the feature supports ETH on the Ethereum Mainnet, but there are plans to include native gas tokens on layer 2 networks soon. However, MetaMask did not specify which layer-2s and tokens they will support next or when.

The Sell feature is part of MetaMask Portfolio’s broader platform, which aims to offer a comprehensive and user-friendly experience for web3 needs. The platform already includes features like Buy, Swap, Bridge, and Stake, and is continuously evolving through meaningful updates.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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