Users of the Metamask mobile app in Nigeria can now purchase cryptocurrencies directly and immediately, according to Consensys and its Web3 infrastructure partner Moonpay. A Consensys official claims that the introduction of this capability lowers friction and eliminates obstacles to Nigerians’ adoption of Web3.
using immediate bank transfers to purchase cryptocurrency
Users of the Metamask wallet in Nigeria can now purchase cryptocurrencies directly from the mobile app, according to Consensys, a renowned Web3 business. Consensys has joined forces with Web3 infrastructure provider Moonpay to make this possible. Users from the nation can now buy cryptocurrencies without needing to register for an account on a centralized exchange thanks to the adoption of this capability.
Consensys stated in a joint statement on March 21 that the decision to allow direct purchases was brought on by the extremely high number of transactions that are denied or blocked when using a credit or debit card as the payment option. But, thanks to a recently added functionality, users of the Metamask mobile app and dapp (decentralized application) wallet can now buy cryptocurrencies via rapid bank transfers.
Lorenzo Santos, Senior Product Manager at MetaMask, made the following observation in response to the new feature’s inclusion in the portfolio:
THIS IS A KEY NEXT STEP IN A CRUCIAL MARKET THAT HAS ADOPTED CRYPTO AND WEB3, BUT FACES SERIOUS PROBLEMS WHEN USING FIAT FOR CRYPTOCURRENT. In order to continue assisting Nigerians as they join Web3, we are working to reduce friction and remove obstacles.
According to Moonpay’s chief product and strategy officer, Zeeshan Feroz, the integration enables Nigerians to finance their self-custodial portfolio through a “streamlined user experience.”
In addition, it was disclosed in the press release that Consensys and its partner intended to introduce the feature in Kenya, Botswana, and South Africa the following month.