Written by Logan

On January 6, 2020

Metal Pay 2019 – Year in Review

Happy New Year, Metal family!

This past year has been one of change, progress, and curiosities all around the world. NASA completed its first all-woman spacewalk, marking a turning point in space exploration. Countries and corporations around the globe outlined movements towards new cryptocurrency projects. Disney+ launched, and with it came Baby Yoda – one of the most adorable creatures ever imagined.

2019 was also an incredibly exciting and productive year here at Metal. Our Marketplace swelled, our staff grew, our accessibility expanded, and breakthroughs were made towards many of our overarching goals. If you’ve been following our social media accounts, or checking the Discover section of the Metal Pay app, you’ve probably seen most of these updates. However, we know it’s hard to keep track of all of our head-spinning progress, and one or two announcements may have slipped through the cracks. So let’s do a 2019 recap of what we’ve done, where we’re heading next, and what we’re getting ready for.

Rapdily Expanding Cryptocurrency Marketplace

At the end of 2018, our innovative cryptocurrency Marketplace hosted 16 coins that users could buy and sell. Unsatisfied with stopping there, we continued to add cryptocurrencies to this selection for our users, reaching 24 individual tokens by the end of 2019, and adding the ability to not only buy and sell these tokens, but send and receive them, too. Our Marketplace is one of the easiest and most intuitive ways to buy and sell cryptocurrency available today, which is why our users are always enthusiastic about the addition of a new crypto. 2020 will see the addition of many more cryptocurrencies, so check back often for new options and let us know on social media if you’re still waiting for your favorite crypto.
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New Friends – Our Growing Community

We don’t know about you, but we love meeting new people and making new friends. There’s just something about learning someone’s story, their interests, and what makes them laugh. That’s why we’ve been thrilled to watch our total user count continue to tick upwards; we went from 12,500 users at the beginning of 2019 to 144,000 users today. It’s also been great to see users meeting each other through our social media posts, making connections, and sharing advice. The Metal family continues to grow, and we expect this to continue as we work hard at expanding to all 50 U.S. states, an international market, and anywhere people have a need for the Metal Pay difference.

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Additionally, to better serve our growing community, we’ve been using the Discover section of the Metal Pay app to keep users informed on the latest developments across all areas of cryptocurrency. In 2019, we took this a step further by beginning the process of launching Metal University – a free resource for everything you need to know about cryptocurrency. Whether you’re a seasoned trader, or new to this space, Metal University will host lessons tailored to meet your needs. Stay tuned for more information on Metal University in the first half of 2020, we think you’re going to love this.

Mo’ Money, No Problem

Since our creation, we’ve focused on providing users a seamless experience for making payments, buying crypto, and all of the other functions that Metal Pay has to offer. It looks like our users have been happy with the app, because our total number of transactions continue to tick upwards. As of the end of 2019, we’ve processed over $5 million USD in transactions – a staggering number for a new company. Those are the kind of results you can expect when you mix a talented team, a cutting-edge product, and the best community a company could ask for.

Early Access for Android Users

Metal Pay started out as an iOS app for iPhones, and we’ve enjoyed watching iOS users experience the Metal Pay difference. People quickly become raving fans of Metal Pay when they get a chance to use it, and they have a hard time keeping quiet about just how great it is to do things the Metal way. Naturally, Android users started to feel left out, and for good reason, too! That’s why great effort was spent all year long bringing Metal Pay to our eager Android family – which led to the release of an Early Access version of Metal Pay for Android. We’re still working hard to bring the full Metal Pay experience to our Android users, but for now they can get a taste of what Metal Pay is like and start using it ahead of time.

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Metal X – Next Generation Cryptocurrency Exchange

Metal Pay is a great way to buy, sell, send, and receive cryptocurrency; in fact, it’s probably the easiest way to use cryptocurrency like an everyday form of money. However, we also know that seasoned cryptocurrency traders may want a more capable and in-depth crypto exchange, which is why we’ve been creating Metal X. This next-generation cryptocurrency exchange will feature detailed charts, beautiful designs, uncluttered webpages, and simplified tools to make decisions quicker, easier, and more confidently. We’re rapidly progressing towards launching Metal X, so check back often for updates on this exciting and innovative cryptocurrency exchange.

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Coming Soon: Mainnet Deposits and Withdrawals

While our users have enjoyed using Metal Pay to buy, sell, trade, send, and hold cryptocurrency, we know that sometimes you just want to move your crypto to your own wallet or to send and receive crypto. To make this happen, we’re working around the clock to release our mainnet deposits and withdrawals feature – which will allow Metal Pay users to withdraw and deposit Bitcoin, Ethereum, MTL and other erc-20 tokens. This is a big step for any cryptocurrency platform, and we’re thrilled to almost be ready to launch this update.

Our Growing Team

The Metal team has grown this year with over 10 new hires, including Erik Finman, the world’s youngest Bitcoin millionaire. Since joining Metal, he’s teamed up with our CEO, Marshall Hayner, to deliver a briefing on cryptocurrency to Congressional representatives and their staff. Additionally, Erik used a satellite that he helped launch to send MTL to a village in Ghana that needed funds for a school – a first-of-its-kind “crypto space drop” that showed just how useful cryptocurrency can be. Like the rest of our team, Erik has proven to have a keen eye for cryptocurrency, making projects work, and taking things to the next level. Every hire that we make is carefully selected to help us take Metal to new heights, accelerate the pace of development, and create better products and experiences for our users.

Buy Crypto for Much Less

No matter what exchange or marketplace you use, at some point you’ll have to pay a fee when purchasing cryptocurrency. Fees are what keeps the lights on at many exchanges, and it’s a feature most of the crypto community has become accustomed to. However, we’re always pushing the envelope here at Metal, and we’ve never been known to settle for the status quo. That’s why our attractive new fee structure, while already being competitively priced, also offers a way for our users to buy any cryptocurrency in our Marketplace for 0% fees. Seriously, no fees – that’s hard to beat. As always, users can buy MTL for 0% fees on the Metal Pay app.

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Expanding Our Reach – Metal VC

2019 also saw the creation of Metal VC, a first-of-its-kind cryptocurrency investment program. Metal VC was made to build fruitful and lasting partnerships; Metal can partner with and send funds immediately to impressive cryptocurrency companies and start-ups that are increasing the speed of innovation. We believe banking is a fundamental human right, and we think people should have access to honest, ethical, and useful financial products. By partnering with other like-minded movers and shakers, we can ensure this becomes a reality for more people. This is about more than just investing money: our partners have access to members of our team, who are ready to give them guidance, support, and advice. We’re down for whatever helps them succeed and helps push the cryptocurrency movement forward.

Fixing Cryptocurrency – BCETF

Metal CEO Marshall Hayner announced the creation of the Blockchain Engineering Task Force (BCETF) as the logical next step in the continued growth of cryptocurrency. Right now, progress is being slowed across the cryptocurrency industry by competing designs, confusing organization, and a lack of clear goals. The BCETF will help establish clear, universal, voluntary standards for all cryptocurrency companies to work towards and meet. These universal standards will allow other industries to begin integrating blockchain technology and cryptocurrency at a rapid pace.

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A similar task force was created years ago to help standardize Internet infrastructure and ensure progress happened smoothly, the Internet Engineering Task Force (IETF). The BCETF has a similar vision to IETF and will seek to create guidelines for blockchain technology, cryptocurrency infrastructure, and other areas of development. Visit bcetf.org for more information, and stay tuned for updates on this exciting leap forward.

Creating the Future: XID

Alongside the launch of mainnet deposits and withdrawals on Metal Pay will come the launch of Ethereum Identity (XID). This new cryptocurrency exists to give the BCETF a way to design decentralized sovereign identity, payment flows, and on-chain KYC by extending the existing Ethereum codebase and creating a bridge from legacy payment protocols (ACH, SEPA, SWIFT) and services to modern protocols and services (blockchain). Ethereum Identity (XID) aims to remove the concept of sharing private keys (BIN and bank account numbers) directly with merchants, instead creating a permission-less layer that exists on top of traditional card networks and banks. XID enables the fintechs, banks, and regulators of the world to experiment with the concept of monetary systems existing on public blockchain ledgers, before moving into production. In the case of governments experimenting with digital national currency, XID acts as a sandbox before setting sovereign digital currencies into motion as national currencies existing on a blockchain (nation-state sponsored cryptocurrencies).

Much, Much More

We could talk for hours about all of the things we’ve accomplished in 2019, but we didn’t want to make this blog post too much longer than it already is. The best way to learn more about what we’ve done this year is to check out the Blog section of our website, and pay special attention to our Metal Heads-up Newsletters. Still wondering about the status of something we’ve been working on, or have a suggestion for what we should build next? Feel free to drop us a line on social media, we’d love to hear your ideas and see what we can make happen.

We hope that 2020 is full of wonder, excitement, and success for you. As always, keep an eye out for more updates by checking Discover in the Metal Pay app, and following us on social media: Twitter | Instagram | Facebook | Steemit

🤘 Your friends at Metal 🤘

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