03-22-2023 icon

MetaMask to facilitates direct crypto buying in Nigeria 

By Lucy Adegbe

Non-custodial wallets is gradually getting more attainable in Nigeria given the main digital currency wallet MetaMask’s latest affiliation with local financial institutions. 

According to a Tuesday information by MetaMask holding company ConsenSys, the firm has welcomed a recent affiliation with digital currency fintech solution Moonpay. This affiliation will allow Nigerian resident customers to buy digital currencies through direct bank transfers. 

The latest innovation is enabled on the MetaMask mobile alongside Portfolio DApp, substantially eradicating the complexity of purchasing digital currencies without credit or debit cards in the Nigerian region. 

Right before the affiliation, MetaMask customers residing in Nigeria could utilize the wallet, however, crypto purchase activity attracted more charges and time. 

Currently, with the introduction of a direct bank transfer feature, Metamask wallet customers can now experience swift and less costly purchases. Also, its customers can now obtain digital currencies without transferring resources from centralized protocols. 

Notwithstanding the recent challenges with digital currency facilitation in Nigeria, the region has recorded as a significant market for the non-custody wallet, earning third place in its mobile monthly functional customer ratings, according to Santos. 

In the previous year, Chainalysis worldwide digital currency acceptance index ranked Nigeria to be among the top 20 nations with the most crypto adoption. 

Diverse publications revealed that an estimated 35% of the country’s populace between the ages of 18 and 60 possessed or traded digital currency in 2022.