Metal (MTL)

The exchange rate of one MTL at 14:37 UTC is 1.867$

Chart | Average rate

“Metal” is a blockchain-based system that uses “proof-of-processed-payments” to identify users, rewarding them for converting legacy fiat currency to cryptocurrency. It's a bitcoin-like system, but with a user-friendly interface similar to Venmo, Square, or PayPal. Metal can act as a bridge to bitcoin or any available cryptocurrency. Many small businesses around the world choose to accept cash only. However, in an increasingly cashless society, refusing to accept digital and card payments can be problematic. Simply put, Metal believes that cash-only businesses can benefit by adopting cryptocurrencies as a new form of cash, as cryptocurrencies share many of the same properties, especially regarding privacy, censorship resistance, and fungibility. After introducing blockchain-based digital payment technology on top of some traditional banking services, Metal expects to save consumers 4-5% on all purchases.

Through the Metal Marketplace, users can buy and sell 24 cryptocurrencies directly from their FDIC insured cash account.

Metal refers to both a company and a cryptocurrency token that runs on the Ethereum blockchain but generally functions like PayPal with cashbacks. One of its main goals is to make cryptocurrencies not only accessible, but also usable in the real world, which means that users can pay with them when buying goods - just like they use PayPal.

Metal allows the user to convert their fiat money into any cryptocurrency and vice versa, and in return they receive Metal tokens as a reward, but no more than 5 percent of the transaction volume. You can use Metal or receive tokens through your proprietary wallet and any other wallets that accept Ethereum.

Metal has completely rethought the payment process, making it simple, enjoyable, free and useful. Users can pay instantly using their cash balance, linked bank account, or by sending cryptocurrency. MTL is built for everyday use. When paying, users earn the Metal cryptocurrency, and soon they will be able to receive even more different currencies.

The Metal company was mastered in 2016. Currently, the company is headed by Marshall Hayner and Glenn Marien, real crypto enthusiasts. Other team members have extensive experience in companies such as Visa and Apple.

Since its inception, the company has already created over 65 million Metal tokens. About 20 million have been put up for sale, while nearly 30 million are available as rewards.

Due to the limit on the number of tokens created, the cryptocurrency cannot be mined.