MetaMask has become one of the few places where you can buy ethereum with crypto, albeit only in the United States.
“With this new integration, users will be able to use their PayPal balance, linked bank account, or debit card to add ETH to their MetaMask wallet directly,” the startup said.
PayPal has 426 million users worldwide and $77 billion in assets. It allows purchases of bitcoin and eth within its own ecosystem, growing its crypto holdings to nearly $1 billion for Q1 2023.
MetaMask has grown to some 30 million users with it acting as a browser based interface to the ethereum blockchain, numerous eth based second layers, and even different chains like Binance Chain.
It faces competition however as other browser based extensions have launched, but the wallet has grown to become a one way pipeline too from fiat to crypto.
It offers numerous options to buy eth from within its platform, though PayPal is a very rare one as it is generally not accepted for buying crypto.
That’s because of chargebacks. It is fairly easy to put forth a dispute on PayPal, and since crypto is irreversible, that can leave you out of pocket.
However, disputing receipt of crypto from MetaMask would be difficult to argue as the blockchain can provide indisputable proof.
This might therefore be one area where PayPal can work as this web2 wallet potentially re-energizes itself with crypto.
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- Source: https://www.trustnodes.com/2023/05/12/metamask-adds-paypal
