MetaMask, a famous Ethereum crypto wallet, has entered the Apple ecosystem with the debut of a connection with the company’s payments infrastructure.
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.
Cryptocurrency Credit Cards:
MetaMask also uses the Transak payment infrastructure, which allows users to purchase cryptocurrency using their credit or debit cards. However, those who want to use either payment platform must go through the KYC (know-your-customer) process.
However, using MetaMask on layer-1 incurs gas taxes, which the company claims it does not profit from. MetaMask has its own fees of 0.875 per cent of the transaction value.
Support for gasless transactions, which is when private blockchains, or a project or protocol, pay for the gas on behalf of the user, was one of the other enhancements.
MetaMask will launch its own coin and DAO, according to ConsenSys CEO Joseph Lubin, who announced on March 16. Although there was little information on the coin, long-term MetaMask users will expect an airdrop similar to Uniswap.
Be wary of Phoney wallet apps:
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.
According to the research, the fraud has been going on since May 2021, and bogus wallet software for MetaMask, Coinbase, Jaxx, and Trust Wallet has 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.
