PayPal launches integration with MetaMask Web3 wallet for Ethereum transactions (2024)

Users of the popular MetaMask Web3 wallet will soon be able to buy the second-most-popular cryptocurrency, Ether, via PayPal.

Similar to PayPal’s checkout feature at online stores like Etsy and eBay, the integration with ConsenSys’s MetaMask will let users buy and transfer Ether by logging in into MetaMask, tapping the “buy” button, and logging into PayPal before making a purchase.

The company said in a statement that select U.S.-based MetaMask customers will be able to use PayPal to buy Ether as of Wednesday, and that the feature will be rolled out to all U.S. users in the coming weeks.

A crypto wallet like MetaMask is often the starting point for interacting with Web3 applications like play-to-earn games and some metaverse platforms. Adding PayPal to MetaMask could broaden the customer base for some of these applications by removing the complexity from buying crypto.

“This integration with PayPal will allow our U.S. users to not just buy crypto seamlessly through MetaMask, but also to easily explore the Web3 ecosystem,” MetaMask product manager Lorenzo Santos said in the statement.

PayPal has embraced crypto in several ways over the past few years. It first gave customers the ability to buy, hold, and sell cryptocurrency on its platform in 2020, and in 2021 added a “checkout with crypto” feature that supported Bitcoin, Litecoin, Ethereum, and Bitcoin Cash.

After having mostly siloed customer crypto funds within the PayPal ecosystem since 2020, the company in June also let its customers transfer any crypto bought on PayPal to other wallets or exchanges.

Last week, PayPal competitor Stripe launched its own tool to help Web3 companies, including games and NFT marketplaces, allow their customers to buy crypto with fiat currencies like the U.S. dollar. The payments company, which has partnerships with Apple and Walmart, said it also will handle fraud, compliance, and know-your-customer (KYC) checks.

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PayPal launches integration with MetaMask Web3 wallet for Ethereum transactions (2024)

FAQs

PayPal launches integration with MetaMask Web3 wallet for Ethereum transactions? ›

MetaMask is the first web3 wallet to enable users to buy ETH using PayPal, a leader in the digital payment space. In addition to purchasing ETH directly, the integration also supports the transfer of ETH from PayPal to MetaMask, aiding in more self-custody adoption.

Can you connect PayPal to MetaMask? ›

Click or tap on the “Add Custom Token” button to confirm and complete the process. MetaMask will ask for your confirmation to add the PYUSD token to your wallet. Approve the request, and within a few moments, PAYPAL USD will be successfully added to your MetaMask wallet.

How do I transfer Ethereum from MetaMask to PayPal? ›

How to “Cash Out”
  1. Connect their MetaMask wallet to portfolio.metamask.io.
  2. Click on the “Sell” tab to initiate the process.
  3. Select their region.
  4. Choose the token and network they want to sell (e.g., ETH on Ethereum).
  5. Select a fiat account destination available in their location (e.g., bank account or PayPal balance).
Sep 6, 2023

What is Web3 wallet integration? ›

A Web3 wallet is a digital tool designed to manage and interact with blockchain-based assets and decentralized applications (DApps) within the Web 3.0 ecosystem.

Is MetaMask a Web3 wallet? ›

The MetaMask wallet, with over 100M installs and 30M monthly active users, stands as the leading web3 wallet with one of the largest active user bases in web3. MetaMask processes 100M transactions monthly through more than 17,000 web3 dapps.

Can PayPal be linked to crypto wallet? ›

Crypto, short for cryptocurrency, is a digital currency you can buy, sell, and securely hold in your PayPal account. PayPal also supports the transfer of cryptocurrencies between PayPal, Venmo, and other supported wallets and exchanges.

What crypto wallet connects to PayPal? ›

In keeping with the ethos of simplifying crypto transactions and payment options, Coinbase supports several traditional payment methods, including PayPal accounts. However, some rules guide its use.

Can Ethereum be transferred to PayPal? ›

Yes, you can transfer cryptocurrency into and out of PayPal. Learn how to initiate a transfer by reviewing the instructions.

Can you transfer ETH from PayPal to a wallet? ›

PayPal supports transferring crypto to other PayPal users and external wallets, but fees are higher than those of most crypto exchanges.

How do I send Ethereum from PayPal to wallet? ›

You'll need to enter an external crypto address if you want to transfer cryptocurrency out of your account. Copy and paste an address, manually enter it, or scan a QR code by tapping the QR code button to the right of the search box. Enter the amount you want to send and tap Next.

What is the difference between MetaMask and Web3? ›

Binance Web3 Wallet: Offers features like staking and Binance Launchpad access for BSC projects. MetaMask: Known for its browser extension which makes it easy to interact with decentralized applications (DApps) in web browsers. Cross-Compatibility: Binance Web3 Wallet: Primarily designed for Binance-related activities.

How do I cash out my Web3 wallet? ›

How to withdraw Crypto from Web3 to your primary wallet:
  1. Login to your Mobile App.
  2. Go to the account menu.
  3. Select Web3.
  4. Select the currency you wish to transfer.
  5. Select "Transfer".
  6. Select “Transfer to your primary wallet”.
  7. Enter the amount you wish to transfer or select MAX to transfer all of your selected Crypto.

Are Web3 wallets safe? ›

Privacy: all data is encrypted so that no conclusions can be drawn about the user. Open: anyone can use the Web3 applications anonymously – regardless of location and other factors. Trustless: codes and smart contracts take over the control of important processes, so users do not have to trust any third parties.

Is MetaMask legal in the US? ›

Yes. MetaMask is a trusted crypto wallet used by more than 30 million people worldwide, with security features like encryption, Blockaid, and seed phrases. It is, however, a hot wallet, and is best used in combination with a compatible hardware wallet.

Are Web3 wallets free? ›

MetaMask has earned its spot as one of the top Web3 wallets, primarily for its compatibility with a wide range of web browsers and mobile devices, and the fact that it's free to use. MetaMask enables users to securely store and manage their Ethereum-based assets while seamlessly navigating the decentralized web.

Is MetaMask a Ethereum wallet? ›

MetaMask is a decentralized cryptocurrency wallet that prioritizes user security and anonymity. With an easy setup process and support for various Ethereum-based tokens and NFTs, it offers versatility and accessibility.

Can you use PayPal on Meta pay? ›

Enter your payment details

Add the credit card, debit card or PayPal account you'd like to use. You can update your preferred payment method any time within Meta Pay settings.

How do I link my PayPal to Meta pay? ›

Use PayPal in the Meta Store
  1. Open the Facebook app on your phone using the same Facebook account that's synced to your Meta Quest.
  2. Tap Menu.
  3. Tap Settings and privacy.
  4. Tap Orders and payments.
  5. Tap Other payment methods.
  6. Tap Add payment method.
  7. Select PayPal from the menu.

What payment method does MetaMask use? ›

Region: Available to users in 189 countries. Payment Method: Availability of payment methods will vary by location. Choose from debit or credit card, PayPal (U.S. only excl. Hawaii), Bank Transfer, Instant ACH, and other local methods.

How do I receive payment on MetaMask? ›

On Mobile, tap the “Send” button on the homepage, or tap “Receive” to show your QR code, copy your address, or request payment. On Extension, you can also send by clicking the “Send” button. To receive funds, copy your public address and paste it into the platform you're sending from, or share it with the sender.

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