What is Metal (MTL)?
Metal (MTL) is a blockchain project that wants to simplify cryptocurrencies and make them more accessible to the general public. They’re accomplishing this through a payment app and platform that compensates users for money spent, money sent, and money received.
Metal (MTL) is the native currency of Metal products and an essential part of the Metal ecosystem. Sending and receiving any crypto to friends on Metal Pay is, according to the team, instant and feeless. Designed to make cryptocurrency payments fast and easy, users pay zero fees when sending, receiving, buying, or selling MTL.
Additionally, Metal Pay users pay substantially less fees when buying other cryptocurrencies if they also hold MTL, with 0% fees offered to anyone who holds 10,000 MTL. Created with the goal of being highly useful and advantageous to hold, MTL has fueled Metal Pay and allowed it to become one of the few FDIC-insured on-ramps to cryptocurrency in the United States.
On the Metal X exchange, users can reduce fees by paying the fee in MTL. Additionally, users can receive loyalty benefits for holding MTL inside the exchange.
Metal (MTL) is currently a cryptocurrency token that operates on the Ethereum platform but it will become available on the native Metal blockchain: Proton. Launching MTL on Proton will open new on-chain utility possibilities for MTL
Primary features of Metal
- Metal Vault, Metal Pay, and crumbs are their three apps that assist novice cryptocurrency users in getting started.
- Metal’s blockchain is based on a consensus technique called Proof of Processed Payment (PoPP). It is the technique that allows users to receive tokens for sending, receiving, and purchasing using the Metal Pay app.
- The PoPP incentive system is pre-loaded with a predetermined amount of Metal tokens that will be distributed to Metal users when they use the Metal Pay application to convert fiat money to cryptocurrencies and vice versa or use the application to transmit and receive money.
Pros & Cons of Metal coin
- Metal Pay aims to make cryptocurrencies more accessible to the general public.
- With a 5% reward for accessing their mobile payment app, they should be able to attract a sizable user base.
- Currently, there are a lot of payment processing apps. Metal Pay’s primary competition comes from the same payment processing apps that it is attempting to replace.