MetaMask now supports UPI and other mode of Payments.

[pakhitheboss]

Users of Metamask can now buy crypto using the mobile app. Metamask has integrated onramp.money’s API on its app that supports various local payment methods including UPI. I tried to make a purchase of INR 1000 worth of ETH and it gave me a quote. At the moment you can only purchase Ethereum and USDT from the app. The processing fee is not that much but you cannot ignore the staggering network fee and I also felt that the rate are high.



Source.

 

[elevates]

That sounds great but the exchange rate is high if you consider a centralized exchange. The only good thing about this initiative that I felt was that it wouldn't require any Indian user to go through KYC at the moment. They may add it as a mandatory requirement in the future. I am also skeptical about how long will they be able to continue with this. Until then I am happy to see some positive news to cheer the Indian cryptocurrency market.

[teosanru]

Users of Metamask can now buy crypto using the mobile app. Metamask has integrated onramp.money’s API on its app that supports various local payment methods including UPI. I tried to make a purchase of INR 1000 worth of ETH and it gave me a quote. At the moment you can only purchase Ethereum and USDT from the app. The processing fee is not that much but you cannot ignore the staggering network fee and I also felt that the rate are high.



Source.

 

Man are you serious? ₹540 network fees? What is network fees here? Is it the Ethereum network fees or onramp money network fees? Also is it sort of flattish at around ₹500 or is at a percentage of total amount because no one would want ₹20000 going into network fees for doing like a ₹50000 transaction. Also does it requires any KYC thing or not?

[pakhitheboss]

Man are you serious? ₹540 network fees? What is network fees here? Is it the Ethereum network fees or onramp money network fees? Also is it sort of flattish at around ₹500 or is at a percentage of total amount because no one would want ₹20000 going into network fees for doing like a ₹50000 transaction. Also does it requires any KYC thing or not?

The network fee remains the same if you make a purchase of INR 10k too. I think they are using the max fee limit for any transaction amount.



Did the same for 50k and found not much difference. The only difference here is that the processing fee increases.



I will still go for it as you are not required to pass KYC.

[libert19]

Man are you serious? ₹540 network fees? What is network fees here? Is it the Ethereum network fees or onramp money network fees? Also is it sort of flattish at around ₹500 or is at a percentage of total amount because no one would want ₹20000 going into network fees for doing like a ₹50000 transaction. Also does it requires any KYC thing or not?

The network fee remains the same if you make a purchase of INR 10k too. I think they are using the max fee limit for any transaction amount.



Did the same for 50k and found not much difference. The only difference here is that the processing fee increases.



I will still go for it as you are not required to pass KYC.

I just checked and now they require kyc. I tried to sell, first asked for phone number then asked for aadhar card, pan card details, 1% tds is deducted too upon sell.

[pakhitheboss]

It was eventually going to happen. I guess non-KYC service was only available for a few days. The payment interface is being provided by onramp which is part of Bitbins exchange they have eventually bowed down to law of the land as they operate from India. If they were based outside India then they would have continued with non-KYC policy. Thanks for the update @libert19

[erikalui]

That's almost 50% for buying 1000. I also wanted to make a purchase of BNB tokens worth Rs. 200 via Wazir via UPI but it had disabled UPI payment mode for a long time after which I uninstalled it. I just needed this to pay for the network fee.

[elevates]

That's almost 50% for buying 1000. I also wanted to make a purchase of BNB tokens worth Rs. 200 via Wazir via UPI but it had disabled UPI payment mode for a long time after which I uninstalled it. I just needed this to pay for the network fee.

I do not think any Indian exchange is offering UPI payment. The minimum amount to make a purchase using Metamask is INR 10K and the percentage of the fee reduces if you make a big purchase. In anyways Metamask is again following what the Indian government wants because of the chosen payment processor. I won't recommend you Metamask for any purchase as of now as they will ask you to pass KYC.