MetaMask Portfolio has introduced a novel “sell” capability, empowering users to transform their Ethereum (ETH) holdings into specific fiat currencies.
Renowned for its digital wallet solutions, MetaMask has now integrated this cash-out feature, complementing its existing “purchase” option. Presently, individuals have the ability to change their ETH into US dollars, euros, and British pounds.
This new feature is currently available exclusively for ETH on the Ethereum main network. However, MetaMask has hinted at plans to expand this service to other layer-2 networks and digital assets. They have not yet disclosed a specific roadmap for this expansion.
The “sell” functionality is currently available to users in certain geographic regions, including the United States, the United Kingdom, and select European nations. Users can direct their gains toward either a PayPal account or a bank account.
MetaMask Enables Ethereum to Fiat Conversion Through Third-Party Providers
To execute the conversion, users will engage with third-party crypto-to-fiat service providers such as MoonPay, Transak, Sardine, and Banxa. This necessitates users to navigate external platforms to complete their transactions.
These external providers offer real-time quotations for those looking to convert their Ether. After selecting a provider, users will be redirected to finalize the requisite banking procedures. Subsequently, the funds should appear in the linked account within several days following confirmation of the transaction within the MetaMask wallet.
MetaMask has consistently expanded its service offerings in recent times. For example, their digital wallet introduced a “swaps” feature that aggregates token prices from various decentralized exchanges to facilitate seamless trades.
Furthermore, they unveiled a platform tailored for businesses and institutional-level users in March, with a focus on Ethereum staking following the network’s “Merge” upgrade.
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