The uprising of Metaverse projects continues as the space is growing beyond boundaries. The Metaverse is a persistent, online, 3D universe that combines multiple different virtual spaces, for example, Metaxion which includes MetaPay as one of the fundamental units. In this article, we aim to provide a comprehensive guide to MetaPay. To get a better understanding of MetaPay, we advise you learn about the Metaverse and how to join it here.
What is MetaPay (MPay)?
MetaPay is a payment method that allows users to make purchases in the Metaxion universe. Metapay, or Mpay for short, is the token that powers the metaverse-based payment system. It an easy to use payment method which requires users to own MPay tokens. Users can utilize its dynamic virtual payment cards to conduct crypto and fiat-based purchases. In order to have an optimal function, users need to hold Meta cards, bespoke MetaPay virtual debit cards.
MetaCards provide unlimited number of retail and Metaverse payments and transactions using the supported cryptocurrencies. The Metaxion universe is one of the ecosystems living in the Metaverse. Users of Metaxion must own MPay tokens to purchase tokens in the space. In fact, Mpay is a utility token that has diverse function across the Metaxion universe, serving users in multiple capacities. Users can use a web browser with a bespoke terminal link to access MetaPay virtual payment system. There is also an option for web extensions and built-in DApps extensible to mobile applications on Android and iOS devices.
Follow @nftnewspro Follow @nftnewsproHow Does MetaPay Work?
MetaPay is a blockchain open payment and settlement system which is designed to respond to Metaverse user needs in new ways. This virtual payment system is fast, secured, and flexible, offering peer-to-peer and institutional-based transactions. Users are provided with dynamic payment cards to fully function, which basically function just like credit and debit cards. These cards improve the ease of decentralized access to crypto payments in centralized business institutions and enterprises. Besides, it also allows collectors and users to settle retail or Metaverse financial payments and transactions.
MetaPay not only is MPay-denominated but also supports multiple cryptocurrencies. It also aims to integrate a borrow function via its MetaPay Save Crypto platform. This function also provides users and collectors numerous options to borrow cryptocurrency, especially stable coins. However, users still can fully experience the space since they still have the chance to perform transactions and spend their existing crypto assets. Therefore, system users face no limitations to grow their portfolios. According to the project developers, this functionality will kickstart in the second half of 2022.
What are the unique features of MetaPay?
As you may have already noticed, MetaPay offers a Save Crypto platform, which allows users to borrow cryptocurrencies for spending. Though, according to the roadmap, MetaPay’s services are extensive. It further provides a payment platform that offers users exciting products tailored specifically to improve their experience. Now, let’s have a look at unique features of MetaPay.
1. MetaPay Blackhole
MetaPay Blackhole is a decentralized protocol working on the payment platform. It enables users to execute private transactions confidentially. Also, users can hide wallets from the blockchain ledger while transacting anonymously. Blackhole seems to be one of the highly-needed service offerings of MetaPay since it excites users who prefer to be anonymous.
2. Currency Wallet
The currency wallet provides the chance to users to preload their debit cards with various cryptocurrencies. The amount of cryptocurrency on this wallet is equivalent to the converted amount at purchase. There are no limitations set on the wallet, and users can preload as much as they want on it.
3. Internal Integration
MetaPy is also fully integrated with many blockchain platforms and protocols across the crypto space. This platform is a cross-border platform that puts no limits to users’ engagements with other blockchain networks. It is known to support multiple cryptocurrencies and tokens like Bitcoin, Erc20, BSC, FTM, SOL, etc.
4. Security Storage
MetaPay debit cards is designed to include unique security features to help users protect their funds against hackers. MetaPay further keeps the debit cards secured and protected by using custom-encrypted code to avoid loss of funds. The team offers to provide all these measures in place to give users assurance concerning their assets.
5. Reliable and low cost
Although most Metaverse spaces set high gas fees to their users, MetaPay chooses to charge low fees while offering users benefits like cashback rewards. However, users should notice that if they want to replace their virtual cards, they will have to pay a fee. Alternatively, there are also options to upgrade MetaCards, which comes at a fee.
Why should you use MetaPay?
MetaPay promises to offer its users a trustable, fast, seamless payment method in the Metaxion universe and across the Metaverse. In the future, the platform plans to introduce staking, which will allow many users to earn rewards. Users can grow their portfolios by daily savings to go into staking as well as a proportionate amount earned as rewards, while they are still able to spend from it. The platform’s customer support service is also active 24/7 to support users with any requests, from complaints to card replacement. MetaPay ensures that its users will get optimum satisfaction via its integrated system valid across the Metaxion universe.
MPAY token
MPAY is a token procurable on the Metaxion universe and accepts crypto exchanges like Binance, PancakeSwap, and VinDAX. Users may use MPAY to sell parcels and avatars purchased in Metaxion and convert them into tokens. However, 5% of its sale and 3% of its purchase are for investors, relative to the transaction volume. Indeed, the 50 billion tokens apportioned for the team are currently locked in DXSale along with liquidity. The total supply of MPAY is one trillion coins and 200 billion tokens have been burned by now. Besides, MetaPay token reserves 20% of its total supply for IDO, 10% for the platform, and 15% for marketing and advertising. Also, it reserves 10% of the total supply for partnership, team, and community stimulus. The last 25% of the total supply is used for farming rewards.
How to buy MPAY token?
For the time of writing, users are only allowed to buy MPAY tokens from PancakeSwap and Poocoin. However, the project developers hope to integrate multiple exchanges to let users purchase the tokens in the future. In the following, you will learn the steps to buy Pancakeswap.
Download and create a wallet
There are many digital wallets available on Android and iOS stores that you may choose from, for example, MetaMask. After downloading a digital wallet, it is vital to set the necessary KYC information and verifying your identity.
Transfer The BNB balance to your wallet
Go to homescreen and enter the BNB section and tap the Receive button. Copy the BNB Contract address on the screen and transfer BNB from your Binance account or another wallet.
Connect to PancakeSwap
Connect to PancakeSwap with your digital wallet to conduct buying and selling transactions. In the “To” section, tap “Select a currency”. Enter the Contract address of MetaPay in the search section on the popup that opens. You can change the amount of Slippage Tolerance from the settings on the Exchange section of the home screen.
Follow @nftnewspro Follow @nftnewsproIs it safe to invest in MetaPay?
One negative point about MetaPay is that there is no clarity about the team behind the MetaPay project. Also, a logo that looks like Meta (formerly Facebook) without any kind of partnership with an organization makes people question the credibility of the project. However, MetaPay tokenomics showed that 75% of MPay tokens are reserved for the community, 20% for initial burn, and 5% for marketing and team. In addition, the Valid Proof company investigated the data of the project and did not find any mysteries about it.
Considering all said above, always remember to do a lot of research before relying on project tokenomics or third-party audits when making any investment decision as the cryptocurrency market is highly volatile.
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