What is MetaPay and how does it work?

When people began communicating with one another over a wired communication system, the internet, not long ago, it ushered in a revolution in the rate of user acceptance of the technology involved. 

Users could converse more readily anywhere and anytime when wired technology gave way to mobile technology. For example, smartphones are now bringing a flood of other services to the Metaverse. The Metaverse is a three-dimensional virtual place that works as a metaphor for the real-world . The term “metaverse” is derived from "meta" (beyond) and "universe."

In this article, we will discuss the MetaPay project and how to buy MPAY tokens. We will also explore if it is safe to invest in MetaPay.

What is the MetaPay project?

MetaPay is a means of payment that allows users to make purchases in the Metaxion universe. The MPay token, commonly known as MetaPay, is the metaverse-based payment system's native token. It's a straightforward payment method requiring customers to have a MetaPay token to invest in the Metaxion universe.

As a utility token, its purpose varies across the Metaxion universe, serving users in different ways. For example, you can earn MetaPay tokens by selling the land you purchased and you can also exchange your MPay tokens for any cryptocurrency you like.

How does MetaPay work?

The virtual payment system created by the MetaPay project is flexible, secure, fast and meets the needs of institutional-based and peer-to-peer transactions. Users can conduct crypto and fiat-based purchases using its dynamic virtual payment cards.

Virtual payment Meta cards in centralized enterprises will provide easy decentralized access to crypto payments. Merchants will also be able to settle metaverse payments along with retail financial transactions.

Features of the MetaPay payments system application

MetaPay offers a currency wallet in which users can preload their virtual debit cards with multiple cryptocurrencies. Also, there is no limit on preloading the wallet. The debit cards are also secured and protected with a custom-encrypted code to prevent funds from being lost.

Related: The biggest crypto heists of all time

Another feature called MetaPay Blackhole is one of this project's most in-demand service offerings since it appeals to users who value secrecy. In addition, users can conduct private transactions with Blackhole's decentralized payment platform protocol. For example, one can hide wallets from the blockchain ledger while trading anonymously. However, crypto's anonymous culture may dwindle its relevance.

Moreover, MetaPay has a cross-border platform that allows users to interact with other blockchain networks without restriction. It currently supports a variety of crypto tokens, including Bitcoin (BTC), Solana (SOL), Binance Coin (BNB), Fantom (FTM) and others.

Related: What is Binance Coin (BNB) and how does it work?

How do you buy MPAY tokens?

PancakeSwap and Poocoin are the only places where you can buy MPay tokens at the moment. MetaPay tokens will also be available for purchase on exchanges that the organization will agree on in the future. Please follow the easy steps below to purchase MPay tokens on PancakeSwap:

Download and create a wallet

The Trust Wallet is simple and quick to download as it is available on both Android and iOS stores. It is critical to set up a wallet after downloading to ensure a smooth buying process. This entails confirming your identification using the required personal documents like a passport or a national identity card, driving license, etc.

Purchase BNB tokens and connect to the wallet

On the Trust Wallet, look for "BNB" in the search tab and buy the desired amount of BNB tokens. At the bottom of the screen, click on "DApps" and select PancakeSwap. Then connect to the wallet of your choice (in this example, Trust Wallet).

Choose “Trust Wallet” to proceed with the purchase process of MPay tokens.

Confirm the swap to finalize the purchase

In the search field of the popup that appears, type the MetaPay Contract address (you can copy the address from CoinMarketCap). The level of slippage tolerance can be changed in the Exchange section of the home screen's settings. To confirm the swap and finalize the purchase on Trust Wallet, press the "Confirm Swap" button, as shown in the image below.

Approve the transaction to complete the purchase

After confirming the swap, you can see the full transaction history and network fee charges before finally approving the transaction. To do so, click on the "Approve" button, and your purchase of MPay tokens will be completed.

Is it safe to invest in MetaPay?

There is no clarity about the team behind the MetaPay project. Additionally, a logo similar to Meta (previously Facebook) without any partnership with the organization may let you question the reliability of the project. However, MetaPay tokenomics revealed that 75% of MPay tokens are reserved for the community, 20% for the initial burn and 5% for marketing and team. Also, Valid Proof audited the project and found no red flags.

Related: What is a smart contract security audit? A beginner's guide

Despite the above, you should do your research before relying upon the project's tokenomics or third-party audits while making any investment decision, as the crypto market is highly volatile. You may wonder why MetaPay is so bullish.

Any project that is new and has a novel approach can show an optimistic future ahead. However, analyzing crypto tokens carefully before investing is a cautionary practice that helps you to avoid losing your hard-earned money.

Furthermore, it depends upon one's personal financial goals, how much risk one can bear and what the expected return on investment is. If you think that the project is good enough to meet your objectives, you can proceed with it; otherwise, look for organizations that suit your investment portfolio.