Metal (MTL) is a cryptocurrency used within the Metal Pay ecosystem for conducting payments. It is built on the Ethereum blockchain and rewards users with MTL tokens for spending, sending, or receiving money through the app. Each transaction earns up to 5% back in MTL, which can be traded for other cryptocurrencies or converted into cash.
Metal (MTL) is a cryptocurrency token used within the Metal Pay ecosystem to facilitate payments and transactions. Here's how it is used:
Rewards System: Users earn MTL tokens for completing various tasks and activities, such as referring new users, making trades, and using the platform's mobile payment app. These tokens can be used to pay for transaction fees on the platform or exchanged for other cryptocurrencies or fiat currencies.
Mobile Payment App: Metal Pay is a mobile application that allows users to send and receive payments. It rewards users with 5% back in MTL tokens for every transaction made, which can be accumulated and used for trading or converted into cash.
Proof of Processed Payment (PoPP): The PoPP consensus mechanism distributes MTL tokens to users for sending, receiving, and purchasing through the Metal Pay app. This system ensures that users are incentivized to use the platform while preventing fraud and gaming the system.
Metal Vault: The Metal Vault is a web wallet for storing MTL and other ERC-20 tokens. It also supports BTC and ETH, with plans to add more coins in the future. Users can purchase Metal from within the Metal Vault, earning more MTL tokens.
Crumbs: Crumbs is a micro-investment app acquired by Metal that allows users to link credit and debit cards. Every purchase is rounded up to the nearest dollar, earning small amounts of MTL tokens. Users can set Crumbs to make regular crypto purchases or use it for ala carte purchases.
Overall, Metal (MTL) is designed to simplify cryptocurrency transactions and make them more accessible to the general public, while incentivizing users through its rewards system.
To store Metal (MTL) tokens, you have several options:
Mobile Wallets: You can use mobile wallets like Coinomi (for Android) and Jaxx (for both Android and iOS) to store your MTL tokens.
Web Wallets: Web wallets like Jaxx (for Chrome) and the Metal Vault (a web wallet for Metal, Bitcoin, Ethereum, and ERC20 tokens) are also available.
Desktop Wallets: Desktop wallets such as Jaxx and MyEtherWallet can be used to store MTL tokens.
Hardware Wallets: For added security, you can use hardware wallets like Ledger Nano S, Ledger Blue, and Trezor to store your MTL tokens.
Cold Wallets: Cold wallets, which are offline, are considered the safest option. You can use paper wallets or hardware cold wallets like USB drives to store your MTL tokens securely.
Exchange Wallets: You can also store your MTL tokens on exchange wallets like Binance Wallet or Trust Wallet, but these are considered less secure as they are always online and can be vulnerable to hacks.
Choose the option that best fits your needs and security preferences.
To buy Metal (MTL) tokens, follow these steps:
Choose an Exchange: Select a reliable cryptocurrency exchange that supports Metal (MTL) trading. Popular options include Binance, KuCoin, Kriptomat, and Uphold.
Create an Account: Register on the chosen exchange's website or mobile app. Verify your email address and identity as required.
Add Funds: Deposit funds using a credit card, debit card, bank transfer, or other available methods. Ensure you understand the fees associated with each method.
Buy Metal (MTL): Navigate to the exchange's trading platform, select Metal (MTL) from the list of available cryptocurrencies, and enter the amount you want to purchase. Confirm your order and review the transaction details before finalizing the purchase.
Store Your MTL: Once you have purchased MTL, you can store it in your exchange account or transfer it to a personal crypto wallet for safekeeping.
Remember to always research the exchange and understand the risks involved in cryptocurrency trading before making a purchase.
