Ethereum has suffered a sustained decline that is hard to miss. After reaching highs of +US$4,600, 2022 was a year to forget and as the new year approaches, a real resurgence seems possible.
The world’s No.2 crypto is a driving force behind the Web3, needless to say, its sustained recovery could benefit the entire sector. On 14 December, an agreement was declared between PayPal and Metamask, two realities that are, to say the least, synergetic. And who will benefit first from this sensational partnership? Definitely Ethereum and the entire cryptocurrency sector.
Can we expect crypto to grow in 2023? Maybe so, but let’s find out more about what the new Web3 deal entails.
PayPal invests in cryptocurrencies
It is no secret that the international payment channel is the most widely used in the world. PayPal’s commitment to cryptocurrencies is undeniable. The company invests in Web3 with constant commitment.
After having given customers the possibility to buy and sell crypto, the company has allowed them to pay with Bitcoin, Bitcoin Cash, Litecoin and Ethereum.
It is precisely the latter that is the focus of a new deal that is exciting users all over the web. And for obvious reasons.
Metamask, some problems
Those who work in the crypto sector know what this is all about. Metamask represents one of the best known and most popular ‘hot wallet’ (i.e. online, browser-based) digital wallets in the world.
However, there are some very obvious logic behind a digital wallet that can be a problem for some. One needs crypto exchanges like Binance or Coinbase to buy digital currencies like Ethereum.
Payment systems are often not so common, and while Metamask has its own payment systems such as Wyre, Transak and MoonPay, it needs proof of identity from users through the KYC recognition method.
The new collaboration, however, could simplify the cryptocurrency buying and selling experience for all users of both companies in no small way.
PayPal and Metamask: the cryptocurrency deal
Recently, two of the biggest players in global finance signed an agreement that could make life easier for all Web3 investors.
Metamask’s US customers, in fact, were privileged to be the first to have the opportunity to purchase Ethereum to hold in their famous wallet using the PayPal payment channel.
Of course, this is only the beginning, but it is already a good place to start. Metamask is the preferred wallet of millions of crypto investors and the gateway to the metaverse or NFT world. Having the possibility to pay with one of the most widely used methods in the world is nothing but great news!
Buying Ethereum: how does it work?
Not yet available for all cryptocurrencies, it seems that the agreement between the two global giants is all in favour of ETH, or at least for now. Yes, because the United States (after a temporary trial with selected users) will be the first to be able to select PayPal as a payment method from Metamask. Obviously the experience aims to spread globally, but not yet.
If you have ETH in your account, you can simply transfer it to Metamask. Or, you can simply buy it through the new opportunity. Simple, no?
Advantages for PayPal and Metamask?
Some might argue that these are giants that need no help. But it is obvious how both will benefit from their partnership.
The integration of PayPal as a payment method to buy Ethereum will obviously earn transaction fees, while also helping the company to increasingly penetrate the cryptocurrency sector.
On the other hand, Metamask will be able to take advantage of a payment channel that has around 430 million users worldwide, which is easy and secure and has been accredited for some time now!
In this way, the purchase of cryptocurrencies will be even more within everyone’s reach. Thus giving them the opportunity to buy Ethereum with more ‘known’ and appreciated methods. Easier solutions for both new crypto traders and seasoned investors.
Ethereum forecast 2023. Will it grow?
Today we can say that the premises for growth of cryptocurrency No. 2 are there. It would not be hard to believe that deals such as the one between PayPal and Metamask could cause Ethereum’s value to rise in the new year, but we await confirmation.
At the moment, it seems that February, April and May are the months in which ETH performed best (not counting 2022) and this 2023 seems to be poised for another upswing!
One always waits for important graphical and technical signals before considering buying or selling, but it is clear that this could be a good time to consider a possible BUY of Ethereum.