MetaMask has released a significant update with a new Sell tool that allows users to instantly change their crypto into fiat currencies, including USD, EUR, and GBP. This update seeks to deliver a more self-sufficient Web3 experience by minimizing the number of intermediates engaged in the conversion process.
Based on reports by MetaMask on Tuesday, MetaMask’s Sell feature is not limited to a particular provider. Instead, it aggregates several approved providers to present customers with real-time data.
The ‘SELL’ Feature
‘Sell’, a MetaMask creation, allows you to convert your crypto to fiat and send the proceeds to your bank account. The feature is presently accessible in the United States, the United Kingdom, and portions of Europe, initially supporting ETH on the Ethereum mainnet. This step aligns with intentions to expand to native gas tokens on layer 2 networks.
MetaMask’s Sell feature aggregates quotes from multiple vetted providers. This gives users real-time options for converting their digital assets to fiat.
To sell crypto, users connect their MetaMask wallet to the portfolio platform, select their region, and choose the token and network they want to sell from. They can select their preferred fiat account destination, such as a bank or PayPal balance. Additionally, the platform will display real-time quotes from different providers so users can choose the most favorable option. Once confirmed, the transaction is securely redirected to the chosen provider’s website for finalization
The Sell feature is available in the United States, the United Kingdom, and parts of Europe. MetaMask plans to expand this service to more regions in the future. Initially, the feature supports ETH on the Ethereum Mainnet, but there are plans to include native gas tokens on layer 2 networks soon.
The Sell feature is part of MetaMask Portfolio, a broader platform that aims to offer a comprehensive and user-friendly experience for web3 needs. The platform already includes features like Buy, Swap, Bridge, and Stake and is continuously evolving through meaningful updates.
