What Is MTL?
Metal is a payment processing platform aiming to simplify cryptocurrency transactions for users. The platform's primary objective is to streamline payment processes, allowing users to earn up to 5% back in MTL tokens for simply spending cash, converting fiat into cryptocurrency, and spending or receiving money in the Metal Pay app.
Metal aims to lower the entry barrier for those seeking to enter the crypto world by incentivizing their crypto-related activities.
MTL is the native cryptocurrency that powers the Metallicus ecosystem and is utilized within the Metal Pay app.
MTL can be used for various purposes, such as buying goods and services, paying bills, and sending money to friends and family. Unlike other cryptocurrencies, MTL is designed to be fast and easy to use, with transactions typically taking only a few seconds to complete.
MTL Features
MTL is a unique cryptocurrency aiming to solve some challenges associated with traditional payment methods and other cryptocurrencies. MTL's focus on accessibility, speed, and ease of use makes it a promising option for anyone looking to use cryptocurrency for daily transactions.
Metallicus aims to by making cryptocurrency trading more accessible to the general public. It focuses on the Proton blockchain, an ecosystem with zero gas fees, instant swaps, NFT capabilities, and opportunities for passive income.
One of MTL's key features is its reward system known as "Proof-of-Processed-Payments" (PoPP). The system rewards users for processing payments using MTL, helping to promote the cryptocurrency's widespread adoption.
Metal Vault is a web wallet for Metal, Bitcoin, Ethereum, and ERC20 tokens. Metal aims to add more coins, such as Litecoin and Monero and FDIC-insured bank accounts, to the Metal Vault. Users can buy MTL within the Metal Vault with a bank account, earning more MTL tokens in the process.
Metal Pay is a payment processing app for iOS enabling users to send and receive cash or cryptocurrency. It also lets users buy or sell cryptocurrency with cash or other crypto trading pairs. The platform offers trading fee discounts to MTL token holders.
History of MTL
Metal (MTL) was founded by Marshall Hayner and Glenn Marien in 2016. The founders aimed to create a fast and easy-to-use cryptocurrency for everyday transactions.
The company's initial coin offering (ICO) occurred in June 2017 and raised over $9 million, allowing the team to develop the platform further.
Since then, Metal has achieved several significant milestones in its development.
In September 2017, Metal launched its first mobile app for iOS and Android, enabling users to easily buy, sell, and send MTL.
In May 2018, the company announced the launch of Metal Pay, a peer-to-peer payment app letting users send and receive money in multiple currencies, including MTL.
Metal has formed several partnerships and collaborations. In 2018, Metal partnered with Lynx, a blockchain-based social network, to integrate Metal Pay into the Lynx platform. In 2019, Metal partnered with Binance, one of the world's largest cryptocurrency exchanges, to have MTL listed on the exchange. Overall, Metal has come a long way since its launch, and its focus on accessibility and user-friendliness has made it a promising player in the cryptocurrency ecosystem. With ongoing development and continued partnerships, Metal is poised for continued growth in the future.
What Makes MTL Unique?
Metal (MTL) stands out from other cryptocurrencies with its focus on accessibility, ease of use, and unique reward system.
The Metal Pay app enables users to buy, sell, and send MTL with just a few taps on their smartphones, making it easy for anyone to participate in the cryptocurrency ecosystem.
Plus, MTL's fast transaction speed and low transaction fees make it an attractive option for those who want to use cryptocurrency for everyday transactions.
Metal's Proof-of-Processed-Payments (PoPP) reward system incentivizes users and promotes wider adoption of MTL as a payment method. The system rewards users with MTL tokens for processing payments, with the rewards increasing as more payments are processed.
Metal Pay users get trading fee discounts if they hold MTL; anyone with 10,000 MTL can transact for free. Additionally, users can get loyalty benefits for keeping MTL on the exchange.
MTL Coin Price
MTL price has experienced significant volatility over time, like any cryptocurrency. The MTL cryptocurrency was launched via an initial coin offering (ICO) on June 9, 2017. The team sold 55 million tokens at $0.18 per token and raised over $10 million in the process. The MTL token reached an all-time high of $13.86 in September 2017 and had a 250% increase in value after it was granted a money transmitter license from the US state of Washington in March 2021.
Factors affecting the MTL price include changes in overall market sentiment, regulatory developments, and adoption rates among users and merchants.
How Does MTL Work?
As stated earlier, the Metal project was launched to make cryptocurrency accessible to the general public. Metal achieves this aim by providing users with some handy and flexible features, such as:
- A flexible Fiat to Crypto Exchange, enabling Metal users to operate between fiat and cryptocurrencies seamlessly
- An App to send or receive money
- The Proof of Processed Payment (PoPP) consensus for approving transactions.
Proof of Processed payments helps identify a user before distributing currencies in a transaction. Metal Pay seeks to incentivize usage by rewarding users for the transactions on the platform. The PoPP mechanism has a fixed number of tokens locked up, which are released to Metal users whenever they:
- Use the Metal Pay application to convert fiat currencies to cryptocurrencies and vice-versa.
- Use the app to send or receive money.
The reward is usually up to 5% of the volume of the transaction.
Where to Buy MTL?
You can buy Metal cryptocurrency on several leading cryptocurrency exchanges, such as Binance, Cryptopia, Huobi, Livecoin, etc., with Bitcoin or Ethereum pairs. However, around 90% of the volume currently takes place on Binance.
