While crypto seems to be all anyone can talk about, the total market cap is only sitting around $200 billion at the time of writing — which is a quarter of where it was during the spike of Q4 2017.
In order for mass adoption to stand a chance, and to break into a market cap worth trillions, the end user needs to be oblivious to the all the painstaking software upgrades that went into the final product. They need to view it as simply trying a new app.
Metal Pay is a US-based dapp that was created by Metallicus Inc., which allows users to instantly send money to their friends, family, and business partners—and get paid crypto in return. Marshall Hayner co-founded Metal Pay in 2016, and was previously involved with several notable crypto-based projects, namely Stellar, Dogecoin, and Block.io.
Glenn Marien also co-founded Metal Pay, using his experience developing back-end systems for Bitcoin and other cryptos. Vinny Lingham and Bram Cohen, co-founders of Civic and BitTorrent respectively, are currently advisors of the project.
Metal Pay App Is Now Live!
After being asked if there will be an Android option available on the Metal Pay support page, the team responded:
Android is a big priority for us! We will provide updates on social media and through our blog as we make progress on Android development.
Initially, users will receive platform rewards, called “Pop,” which are delivered in the form of Metal Pay’s native currency, MTL. Once their MTL is secured, Metal Pay users have 3 options. They can cash out into fiat immediately, send it to another user, or hold it as an investment and watch it (hopefully) grow.
Metal Pay also has plans to sync their platform with their user-friendly micro-investing app called Crumbs. Much like the popular app Acorns, which rounds off everyday purchases and automatically invests the extra money into the stock market, Crumbs will have the same functionality within the crypto market.
PayPal recently chose to increase transaction fees, providing their fee-less competitors an opportunity to capture some the market share. With Metal Pay, the switch to a new app comes complete with monetary incentive.
Since the app features a smooth, user-friendly experience, and is backed by a competent team, MetalPay stands a chance to see widespread, real-world usage.
How To Use Metal Pay
After downloading the app, users will need to link their bank accounts, then verify their phone number and identity. This is all that’s necessary to begin sending and receiving payments, which are typically validated in less than 1 minute.
Right off the bat, you can start earning MTL for both sent and received funds, at a maximum rate of 5% per transaction. The amount earned is based on an element of Metal Pay that’s akin to a game — the better you play, the more you earn. For example, the more someone saves, or the more financially responsible they are, the more rewards they’ll receive.
Moving forward, Metal Pay plans to expand their real-world application by offering debit cards, and the ability to link credit cards to the platform. Hayner clarified his vision for the future of millennial finances by stating:
Our generation coming into adulthood right now has the biggest opportunity of the past 100 years and they don’t even know it yet. Together, we can create a world where money works for us, where we don’t work for money — that’s the vision.