Metal is a blockchain project aimed at simplifying and making cryptocurrencies more accessible to the general public. The Metal Pay ecosystem has several components that work together to achieve this goal.
Metal Pay is a payment processing app that allows users to send, receive, and spend money in fiat and cryptocurrency. Every transaction conducted through the Metal Pay app has the potential to earn users up to 5% back in MTL tokens.
For instance, if you spend $100 using the Metal Pay app, you and the recipient could earn up to $5 worth of MTL tokens. These tokens serve as "liquid Metal" that can be easily traded for other cryptocurrencies on exchanges or converted into cash within the app.
The Metal Pay ecosystem includes two main applications:
Metal Vault
This web wallet can store various cryptocurrencies, including MTL, Bitcoin, Ethereum, and ERC20 tokens. Metal Vault also has plans to incorporate FDIC-insured bank accounts, enabling users to purchase Metal within the wallet, thus earning more MTL.
Metal Pay
Metal Pay is the payment processing app available on iOS. It allows users to send money to friends and merchants using phone numbers. Users are rewarded with MTL tokens for sending and receiving money through the app. The app's functionality also includes buying and selling various cryptocurrencies directly within the app.
