Key Takeaways:
- MetaMask is reportedly planning to add native Bitcoin support, potentially starting in June.
- Native Bitcoin support would simplify Bitcoin transactions for MetaMask users, moving beyond wrapped Bitcoin.
- MetaMask has introduced significant features recently, including PayPal integration and Ethereum staking services, amid ongoing security challenges.
MetaMask, a popular wallet application, is reportedly working on adding native Bitcoin support.
This development aligns with several companies expanding their Bitcoin services.
MetaMask is reportedly adding native Bitcoin support
— Bankless (@BanklessHQ) May 22, 2024
Here's the scoop 👇… pic.twitter.com/TLwK8Aagsw
According to sources, the integration might start in June, with additional features rolling out over time.
MetaMask did not confirm or deny these plans but hinted at ongoing innovations to improve user experience.
MetaMask is known for supporting Ethereum and ERC-20 tokens, which necessitates the use of wrapped Bitcoin (wBTC) for Bitcoin transactions.
In September 2023, MetaMask introduced Snaps, allowing integration with non-native blockchains like Bitcoin, enabling users to manage Bitcoin without wrapping it in the Ethereum network.
Native support for Bitcoin would simplify the process for end-users.
Recent developments from MetaMask include a partnership with PayPal for purchasing Ether and a staking service for running Ethereum validator nodes.
Buy ETH with @PayPal on MetaMask in a few easy steps.
— MetaMask 🦊🫰 (@MetaMask) December 14, 2022
You can also transfer your @PayPal ETH balance to MetaMask! pic.twitter.com/l6zWavRurx
Despite its success, with over 30 million monthly active users, MetaMask has faced security challenges, including phishing attacks and a breach affecting nearly 7,000 users.
About The Author
Fleming Airunugba, a seasoned Web3 and crypto content expert, leverages his deep understanding of blockchain technology to bring the latest and most impactful news to the crypto community.
With a knack for engaging storytelling and strategic content creation, Fleming is dedicated to educating and inspiring his audience with insightful analysis on cryptocurrencies, NFTs, and the future of digital finance.
Check Fleming out on: