Metal Pay announced today that their users will earn a fee reduction for buying and selling cryptocurrency in proportion to their in-app Metal balance. Metal (MTL) is their native cryptocurrency.
Metal Pay is a blockchain-based payment processing platform. Metal Pay also has 18 cryptocurrencies on its platform which you can buy and sell on their marketplace with real USD. Your cash balance is FDIC insured on Metal Pay, up to $250k.
Metal Pay intends to introduce cryptocurrency to the mass-market by combining participation incentives with a clean, user-friendly interface unseen in cryptocurrencies – until now.
Incentives for holding Metal
The more Metal you hold on the Metal Pay platform, the less fees you pay. The highest tier, holding a minimum of 10,000 MTL, will allow you to buy and sell 18 available cryptocurrencies fee-less! The new fee structure goes live today, as per their blog post.
A video was posted on Twitter with the fee reduction in action:
Incentives for sending and receiving cash payments
Metal Pay rewards you for sending and receiving money. When you send or receive money in an eligible cash transaction, you can receive a reward of up to 5% of the transaction value. This reward is called “Pop” and it’s paid to you in their cryptocurrency, Metal. For example, if you send your friend $100 you can each get up to $5 worth of Metal!
Download Metal Pay here to take advantage of the fee reductions.