In a significant update, MetaMask Portfolio has rolled out a new Sell feature that enables users to easily convert their cryptocurrencies into fiat currencies like USD, EUR, and GBP. This addition aims to provide a more self-sufficient Web3 experience by reducing the number of intermediaries involved in the conversion process.
‘Sell’ enables you to convert your crypto to fiat, sending the funds to your bank account. The feature is currently available in the US, UK, and parts of Europe initially supporting ETH on Ethereum mainnet, with plans to expand to native gas tokens on layer 2 networks soon.
— MetaMask 🦊💙 (@MetaMask) September 5, 2023
A diverse array of vetted providers
According to a blog post on Tuesday, MetaMask’s Sell feature is not confined to a single provider. Instead, it aggregates various vetted providers to offer users real-time options for converting digital assets.
The process to sell crypto is straightforward: Users need to connect their MetaMask wallet to the portfolio platform, select their region, and choose the token and network they wish to sell from. They can then select their preferred fiat account destination, such as a bank account or PayPal balance. Real-time quotes from different providers are presented, allowing users to select the most favorable option. Once confirmed, the transaction is securely redirected to the chosen provider’s website for finalization.
Global reach with plans for further expansion
Currently, the Sell feature is available in the United States, the United Kingdom, and parts of Europe. MetaMask has plans to expand this service to more regions, catering to its worldwide community. Initially, the feature supports ETH on the Ethereum Mainnet, but there are plans to include native gas tokens on layer 2 networks soon. However, MetaMask did not specify which layer-2s and tokens they will support next or when.
The Sell feature is part of MetaMask Portfolio’s broader platform, which 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.
