A cryptocurrency wallet with more than 22.66 million app downloads is introducing an additional feature that allows users to easily withdraw their funds.
MetaMask has announced the launch of a new “sell” feature. This feature enables users to convert their Ethereum (ETH) into their local currency, such as the US dollar, euro, or British pound, depending on their location. The conversion is done by sending the cryptocurrency directly to their bank or PayPal account.
Instead of relying on a single provider, MetaMask collaborates with various trusted providers, many of which are also used in the buying process. This ensures that they adhere to MetaMask’s high standards. Users are presented with real-time options for converting their ETH on the Ethereum Mainnet into their preferred fiat currency, where available.
To utilize this feature, users will need to register and link their fiat accounts within the MetaMask Portfolio. It’s important to note that the time it takes for the funds to appear in their balance may vary depending on the provider and could take multiple days.
Currently, MetaMask’s new sell feature exclusively supports Ethereum. However, the platform has plans to expand this capability to native gas tokens on layer-2 networks in the near future.
Initially, this new service is limited to the United States, the United Kingdom, and certain parts of Europe. However, MetaMask intends to make this feature available in other regions around the world in the future.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.