Leading cryptocurrency wallet MetaMask has introduced a groundbreaking feature that allows users to buy crypto directly with fiat currency (fiat on-ramp) within the MetaMask interface.
New Crypto Purchase Feature in MetaMask Portfolio Dapp
This functionality is part of MetaMask's Portfolio Dapp, enabling users to purchase approximately 90 cryptocurrencies using local payment methods by connecting their MetaMask wallets.
Global Availability with Local Restrictions
- Supported in 189 countries, including Vietnam
- User purchase limits apply based on local regulations
- Available on both web and mobile versions
Supported Networks and Tokens
The feature currently supports eight major blockchain networks:
| Network | Example Tokens Available |
|---|---|
| Ethereum | ETH, USDC |
| Binance Smart Chain | BNB, BUSD |
| Polygon | MATIC |
| Fantom | FTM |
| Optimism | OP |
| Arbitrum | ARB |
| Avalanche | AVAX |
| Celo | CELO |
With 90+ tokens available across these networks.
Payment Methods
Current fiat payment options include:
- Debit/credit cards
- Bank transfers
- PayPal
- ACH payments
- Apple Pay
👉 MetaMask promises more payment options coming soon
Vietnam-Specific Implementation
Vietnamese users can now access this feature, though currently limited to:
- Visa/Mastercard debit cards
- Credit cards
Step-by-Step Purchase Guide
- Access your MetaMask wallet
- Click "Buy" to begin
- Automatic redirection to portfolio.metamask.io
- Select your region
- Choose payment method
Select:
- Token (e.g., USDT)
- Network (e.g., Binance Smart Chain)
- Purchase amount in VND
- Click "Get Quotes"
Review:
- Exchange rate
- Transaction fees (~5%)
- Service provider options
- Complete verification and transaction on provider's platform
Current Limitations and Future Improvements
While innovative, the feature has some drawbacks:
- Heavy reliance on third-party providers
- Higher transaction fees (5%) compared to exchanges like Fiahub (0.1-0.5%)
- Limited payment options in some regions
👉 Future optimizations expected from MetaMask partnerships
FAQ Section
Q: Is MetaMask's fiat on-ramp available worldwide?
A: Yes, in 189 countries, but with local regulatory restrictions.
Q: What cryptocurrencies can I buy?
A: Over 90 tokens across 8 major networks.
Q: Why are transaction fees higher than exchanges?
A: The service aggregates multiple providers and handles currency conversion.
Q: When will more payment methods be added?
A: MetaMask has announced ongoing expansion of payment options.
Q: Can I use bank transfers in Vietnam?
A: Currently only card payments are supported for Vietnamese users.
Q: How long do transactions take?
A: Processing time varies by payment method, typically 5-30 minutes after verification.