Metamask, Moonpay partner to allow Nigerians buy crypto directly

Metamask, a popular crypto wallet, has partnered with Moonpay to allow Nigerians to purchase cryptocurrencies directly. This partnership will enable Nigerian users to buy digital assets without the need for a separate exchange or bank transfer. With Moonpay’s support, users can now easily and securely buy cryptocurrencies using their debit and credit cards. The move is expected to boost the adoption of cryptocurrencies in Nigeria, one of the fastest-growing crypto markets in Africa. Additionally, the partnership allows for seamless transactions while ensuring that users are protected from fraud and scams. Overall, the collaboration between Metamask and Moonpay ensures a simpler way for Nigerians to participate in the global cryptocurrency market.

Moonpay and ConsenSys have partnered to offer an easier way to buy cryptocurrencies in Nigeria. The partnership will allow direct crypto purchases via bank transfers on MetaMask, the popular decentralized finance wallet. The move is significant because using credit or debit cards for crypto purchases in Nigeria often results in declined transactions. As a result, the integration of MoonPay into MetaMask is expected to make it easier for Nigerian users to obtain tokens more efficiently. Nigeria is one of the major markets for MetaMask globally, with the country ranking third in active mobile users.

Despite the lack of regulatory clarity, Nigeria has seen significant adoption of cryptocurrencies. In fact, the country ranked in the top 20 on Chainalysis’ 2022 Global Crypto Adoption Index. Moreover, MetaMask’s popularity in Nigeria is a testament to the increasing adoption of cryptocurrencies in the country, even after the country’s Central Bank ordered banks to stop facilitating crypto transactions and close all crypto-related accounts in 2021. Peer-to-peer trading has become more popular, and it appears that the government has relaxed its stance on crypto. In 2022, there were reports that Binance and the Nigerian government were in talks to create a virtual free zone, similar to Dubai’s crypto trade zone. The CBN has also said that it did not ban cryptocurrency.

This new development will significantly impact the Nigerian crypto market by improving accessibility to cryptocurrencies. It is expected to encourage more people to explore and invest in cryptocurrencies, especially those who previously faced difficulties using credit or debit cards for crypto purchases. With MetaMask being a popular Dapp for storing and trading cryptocurrencies, the collaboration with Moonpay will likely result in increased adoption of the wallet in Nigeria, and more people embracing cryptocurrencies.

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