Michael Abetz
The MetaMask v4.3.1 update adds support for cryptocurrency purchases on iOS with Apple Pay, leading to rumours Apple will adopt Bitcoin.
MetaMask is a popular crypto wallet also commonly used to store NFTs.
Previously users would need to send Ethereum (ETH) or other cryptos to their MetaMask wallet that they purchased from a crypto exchange.
MetaMask Announces Crypto Purchases
The official @MetaMask Twitter account made the announcement this week:
MetaMask Mobile version 4.3.1 is LIVE with some exciting updates:
Buy crypto on iOS with Apple Pay @sendwyre), more transparency when interacting with sites, & support for gasless transactions where relevant. Buying crypto on iOS just became a whole lot easier!
In addition to debit card support, MetaMask Mobile now has Visa and MasterCard credit card (Apple Pay). As always, remember to NEVER share your Secret Recovery Phrase with ANYONE. MetaMask will never request it for ANYTHING, EVER.
There are still third-party payment processors involved – Wyre and Transak – which are crypto-friendly payment gateways.
This does make it easier however for potential new retail investors to buy cryptocurrency safely on their smartphone – signing up to a crypto exchange can be a confusing process for beginners.
Director of ConsenSys – who developed MetaMask – James Beck commented that the upgrade aims to expand the ways in which users can buy and convert crypto within the app itself without having to leave it.
Apple buying Bitcoin?
Also this week Visa announced they will be launching their own NFT creator program to position themselves at the centre of innovation in non-fungible tokens. Could Apple be preparing to do the same with cryptos?
Rumors of an any kind of Apple partnership related to crypto or Apple buying Bitcoin are the stuff of internet meme. Back in the halcyon days of crypto anything that hinted at that could cause the price of Bitcoin to pump. Were Apple buying BTC when it broke the $45k resistance on Monday?
Apple (AAPL) has a market capitalization of $2.85 trillion, 35% more than the entire crypto market cap.
If they are indeed going to integrate crypto purchases in Apple Pay directly it could lead to them becoming the largest crypto exchange platform in the world, and they would need to buy Bitcoin as reserves in order to provide liquidity.
Popular Youtuber CryptosRUs is predicting that an Apple partnership with Strike – a mobile payment app with blockchain support – could be announced at the Miami Bitcoin 2022 conference. That is taking place April 6th – 9th.
Note – many scammers online imitate MetaMask app support, Coinbase, or crypto projects, attempting to DM you, invite you to fill in a contact form with your seed phrase, or connect your wallet to a site for a fake airdrop. Don’t get scammed.
Cryptoassets are a highly volatile unregulated investment product.
This article was written for Business 2 Community by Michael Abetz.
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