Metal is basically a specialized mobile-based digital wallet that has an objective of promoting acceptance of cryptocurrencies like Bitcoin and Ethereum. It is based on the blockchain technology and allows people to do monetary transactions of receiving and sending money using their mobile devices.
Besides, the Metal (MTL) is a token considered for the mobile payment space. The technology is not yet available on the desktop systems. There is no fixed fee and the promoters periodically offer incentives in the form of discounts and offering MTL tokens. MTL is more than just a wallet and a full-fledged crypto and banking system. It allows users to receive and send payments within a network for selling and buying services.
Metal is an enterprise that comes as an efficient alternative to the larger fiat exchanges, that enables users to buy a variety of cryptocurrencies using the Metal mobile app linked to their external bank account. It also enables them to use the account for normal purchases in case the users do not wish to use their regular bank money for any transactions. Thus, MTL functions like a fully operational banking system, a feature not yet reached by any other service provider in the field.
To confirm the successful execution of a transaction, Metal uses a unique system of Proof of Processed Payments (PoPP) to recognize new users. It creates a social security number/passport number type of ID for the new users. It adds a photograph on the file either a selfie (avatar) or a copy of documents while processing a payment. In case the user does not have any debit or credit cards they can sign up with their email address.
MTL uses the KYC (Know Your Customer) identification to distribute cryptocurrency. it enhances the user experience by enabling its users to link their debit and/or credit cards to its app. Allowing them to make payments and money transfers. The system is simple and fast and has a centralized system keeping track and managing the digital currency to control any adverse fluctuations. This is very useful for people who are ignorant of the working mechanism of the cryptocurrencies. It is highly secure using the encryption process ensuring the highest level of security to the personal information and other data that the users share across while closing any transaction. Metal has a very efficient proprietary Anti-Money-Laundering (AML) and anti-fraud technology to protect the consumer interests.
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