MetaMask, the popular Ethereum crypto wallet, introduced new updates to its mobile version 4.3.1, and one of the most notable features is the Apple Pay integration.
Since Apple does not support crypto payments directly through its platform, MetaMask will route payments of their users through Wyre, as it can accept crypto payments and it is connected with Apple Pay.
Users won’t have to send ETH to the app in advance to buy crypto anymore, everything can be done using their own debit or credit cards. Apple Pay users may put up to $400 into their wallets each day with their Visa or MasterCard and the Wyre API.
📣 MetaMask Mobile v4.3.1 is LIVE with some exciting updates:
Buy crypto on iOS with Apple Pay (@sendwyre), more transparency when interacting with sites, & support for gasless transactions where relevant.
Does it get any better? Yes it does! We now have dark mode! 🌑
1/🧵
— MetaMask 🦊💙 (@MetaMask) March 28, 2022
Buying crypto with credit cards
MetaMask also makes use of the Transak payment platform, which allows users to purchase cryptocurrency with credit or debit cards. Those who want to use either payment platform, however, must go through the KYC (know-your-customer) process.
However, using MetaMask on layer-1 will incur gas fees, even though the company claims it does not profit from them. MetaMask charges its own fees, which are 0.875 percent of the transaction amount.
Support for gasless transactions, in which private blockchains, or a project or protocol, pay for gas on the user’s behalf, was also added as a part of the updates.
MetaMask is one of the most well-known crypto wallets today, with over 30 million active users each month. ConsenSys, the Ethereum solutions firm behind the wallet, has also announced a $450 million fundraising round.
ConsenSys CEO Joseph Lubin announced on March 16 that MetaMask will launch its own token and DAO. There was little information available about the token, but long-term MetaMask users will be hoping for an airdrop similar to that of Uniswap.
Scam alert: Fake Wallet Apps
As one of the most popular wallets for cryptocurrency trading, MetaMask is a target for hackers and scammers. ESET, a cyber security firm, recently exposed a sophisticated, malicious scheme to distribute fake wallet apps to Android and Apple mobile devices.
According to the research, the scheme has been going on since May 2021, and fake wallet apps for MetaMask, Coinbase, Jaxx, and Trust Wallet have been distributed on Facebook social media groups with Chinese users as main targets.
Several of them even made it onto the Google Play Store before being removed by the tech giant in January.
