The MetaMask Portfolio Introduces a New “Sell” Feature
MetaMask Portfolio, known for its digital wallet services, has recently launched a new feature that allows users to convert their Ethereum holdings into select fiat currencies. This feature, called “sell,” complements the existing “buy” function provided by MetaMask.
Converting Ethereum into Fiat Currencies
With the “sell” feature, MetaMask users can now convert their Ethereum (ETH) holdings into US dollars, euros, and British pounds. However, this feature is currently limited to the Ethereum mainnet, and there are plans to expand it to other layer-2 networks and digital assets in the future.
Geographic Availability and Cash-Out Options
The cash-out option is currently available to users in the United States, the United Kingdom, and select European countries. When cashing out, users have the choice to transfer their proceeds to either a PayPal or bank account.
Using Third-Party Providers for Transactions
The cash-out process involves using third-party crypto-to-fiat service providers such as MoonPay, Transak, Sardine, and Banxa. Users will be redirected to these external platforms to complete their transactions. These providers offer real-time quotes for Ethereum cash-outs, and users can select the provider that suits their banking arrangements.
Transaction Confirmation and Account Deposits
After confirming the transaction within the MetaMask wallet, the funds should appear in the linked PayPal or bank account within a few days. The use of these third-party providers ensures a smooth and secure conversion process.
Expanding Services and Enhancements
MetaMask continues to expand its range of services. Apart from the recent addition of the “sell” feature, MetaMask also introduced a “swaps” feature that enables users to trade tokens by pulling prices from decentralized exchanges. Additionally, they launched a platform for businesses and institutional-level users interested in Ethereum staking.
Hot Take:
MetaMask’s new “sell” feature offers users the convenience of converting their Ethereum holdings into fiat currencies. This addition, along with other innovative features, demonstrates MetaMask’s commitment to enhancing the user experience and providing a comprehensive digital wallet solution for the crypto community.
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