Users of MetaMask in Nigeria can now use instant bank transfers to purchase crypto directly within the MetaMask mobile wallet, thanks to an integration with crypto company, MoonPay.
🇳🇬Naija, How Far! Buying crypto just got easier!🎉
Our collaboration with @moonpay allows instant bank transfers within the MetaMask mobile app & Portfolio Dapp, making it cheaper, faster, and more efficient! No more wahala of credit/debit card declines🙅♀️
— MetaMask 🦊💙 (@MetaMask) March 21, 2023
In a blog post, MetaMask parent company, ConsenSys, said that the addition of more localized payment methods such as instant bank transfers will make it easier for Nigerians to purchase crypto in an environment where an estimated 90% of attempts to buy crypto using a credit/debit card end up declining.
MoonPay already provides its users in the region with the option to purchase cryptocurrencies through localized peer-to-peer transactions that are facilitated through its partnership with the pan-African crypto company, Yellow Card.
“This is an essential next step in a critical market that has embraced crypto and Web3 but faces serious challenges when using fiat-to-crypto on-ramp. We are reducing friction and bringing down barriers to keep supporting Nigerians as they onboard into Web3,” said Lorenzo Santos, Senior Product Manager at MetaMask.
The additional payment method is also expected to make it easier for Nigerians access Web3 more efficiently and obtain tokens conveniently without setting up an account with a centralized crypto exchange.
Nigeria, where 12.4 million people, about 5.7% of the population, are estimated to own crypto assets is among MetaMask’s top markets globally, ranking third in mobile active users. It is also among the top ten countries regarding visitors to metamask.io.
To fund your MetaMask wallet with MoonPay in Nigeria:
- Login to the MetaMask mobile app or Portfolio Dapp
- Click or tap the ‘Buy’ button, select’ Nigeria’ as your region, then choose ‘Instant Bank Transfer’
- Enter the amount desired and the token you wish to purchase
- Select the MoonPay quote
- Checkout inside MoonPay widget
Done! You have successfully bought crypto directly in MetaMask and can now explore Web3.
“We have rolled out an innovative document-less KYC solution, leveraging governmental databases, allowing users to onboard faster and more safely with MoonPay, by providing their Bank Verification Number,” said Zeeshan Feroz MoonPay’s chief product and strategy officer.
The rollout of instant bank transfers is set to continue to more African countries, with Kenya, Botswana, and South Africa in the coming months, says Metamask.
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