Connecting Metamask to your bank is now possible in the USA

Buy your cryptos directly from Metamask, this is something that many users were asking for. It is now possible, in the USA for now. But at what cost ?

The song of the sardines and the fox

Sardine (it can’t be invented) announced on his Twitter account that the operation was now possible, for American nationals. They can now pay directly their cryptocurrencies, from Metamask.

Thanks to the partnership with ConsenSys, the financial platform in the name of fish offers this new functionality. After a fundraising of more than $51 millionthe company has therefore embarked on the adventure of linking Metamaskyour favorite wallet (or not), to your bank.

With a purchase limit of $3000 per day, $5,000 per week and $25,000 per monthConsenSys and Sardine hope to fight the scams as best they can.

Used by ecosystem giants like MoonPay, Autograph or FTX, Sardine’s infrastructure has been widely tested and approved. That’s why Metamask rushed to implement a much-requested feature. This option could strengthen its place on the market of wallets via browser, which is increasingly disputed.

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Freedom of purchase yes, but at what price?

The demand for this kind of functionality is there, of course. But what about the price to pay for this facility?

The advantage of Metamask is to be able to create addresses very easily, used for the long term or sporadically (junk addresses). The ” pseudonym offered is therefore completely jeopardized by this functionality, if the user decides to test it.

Because yes, as with any access to purchases via a bank, you will have to validate a KYC (Know Your Customer). This will thus link your Metamask to your real identity, and to your bank. After the affair of the “leaks” of data from Celsius, one is entitled to wonder if this is really a good idea. In the event of a hack, the complete chain could be reassembled, and your information could be sold over the counter on the market.

Another point, not negligible, the banks (and therefore the States) could have access to your different addresses. This is already the case (in France anyway) via certain platforms such as Binance. Nothing says that Metamask will not have to follow the same regulations in the future.

Certainly, this kind of functionality, integrated into one of the market leaders, will help to democratize a little more access to cryptocurrencies and to our ecosystem in general. But will the counterpart of this ease of access be the freedom of its users? Case to follow.

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