MetaMask is expanding wallet functionality for over 30 million users to integrate Bitcoin support and simplify cryptocurrency management.
MetaMask, an Ethereum wallet, is set to expand its capabilities by integrating support for Bitcoin (BTC). Through this move, the firm aims to bring Bitcoin and Ethereum users together, making it easier for them to transact seamlessly.
The integration could roll out as soon as next month, but functionality details have yet to be determined.
Bitcoin Support to Arrive in MetaMask
The integration of Bitcoin into MetaMask is a significant technological transition in the realm of crypto wallets. MetaMask, which primarily focuses on Ethereum and related tokens, is now expanding its efforts to Bitcoin.
This development aims to offer a more flexible and diverse wallet solution to over 30 million monthly active users. While the current support for Bitcoin facilities in MetaMask may not be very advanced, there is a strategy to add more support in the future with the goal of continuously improving the user experience.
MetaMask’s decision to support Bitcoin comes after recent improvements to the Bitcoin protocol, including the integration of NFT-like features and other smart contracts.
Subsequent developments have allowed Bitcoin to integrate into a decentralized ecosystem, also known as the Web3, and expand its use beyond just being a cryptocurrency. Metamask can play an important role in this transformation as it provides users with a single interface for a wide range of blockchain applications.
Simplifying Cryptocurrency Management
In addition to adding Bitcoin support, MetaMask is also improving other parts of its interface to make cryptocurrency trading easier.
An example of this approach is a recent partnership with CoinLedger. Launched on March 18, the integration enables MetaMask users to easily sync their transaction history with CoinLedger, a cryptocurrency tax software, making compliance easier.
This is part of MetaMask’s broader effort to ease the challenges of dealing with self-custodial assets across multiple blockchains and wallets. In addition to convenience, MetaMask also improves the security aspects of managing digital assets by integrating these processes into a single interface.
Such integrations are crucial for ease of use and adoption in the growing field of cryptocurrencies.
Bitcoin Price Trend
Meanwhile, Bitcoin price has been bullish over the past 24 hours, despite failing to break through the resistance level at $72k. At press time, BTC was trading at $70,143, a 0.68% increase from the support level.
At the same time, while BTC market capitalization increased by 0.59% to $1,382,221,467, trading volume fell by 455% to $32,298,328,850.