Written by Logan

On November 19, 2021

New coins added to Metal Pay: ADA, SOL, DOT, & SHIB

The Metal Pay Marketplace continues to grow with the addition of four new cryptocurrencies in a single day! Metal Pay users now have access to ADA, SOL, DOT, and SHIB – some of the most talked-about cryptocurrencies of 2021!

Adding these cryptocurrencies to our Marketplace gives Metal Pay users more access to DeFi and crypto projects that we believe will be influential in the coming years. By listing these coins on Metal Pay, their fans gain a key fiat on-ramp to these cryptocurrencies. Now, people can sign-up for a Metal Pay account in less than 10 clicks, receive a Cash wallet that is FDIC-insured through our partner bank, and start buying ADA, SOL, DOT, or SHIB with US Dollars immediately or with other crypto trading pairs. With over 40 other cryptocurrencies to choose from, Metal Pay allows users to buy, send, send, and receive cryptocurrency from their phone easily and pain-free.

Cardano – ADA

The Cardano blockchain was created to be a direct competitor to the Ethereum blockchain, offering what its creators say is an alternative to Ethereum’s slow transaction times and high gas fees. One of Cardano’s claims to fame is the depth and breadth of peer-reviewed manuscripts that have been published about its blockchain, which are pointed to by its community members as proof of the viability of its concepts. 

ADA is the native token of the Cardano blockchain, and can be used in a Proof-of-Stake fashion to compute new blocks and transactions. On Cardano, this can be thought of as a series of node validators, with each node validator being known as an “Ouroboro.” The more ADA that is staked with an Ouroboro, the higher the chance is that this specific Ouroboro and all of its stakers will receive a portion of the block rewards for that time frame.

Solana – SOL

The Solana blockchain was built to power the DeFi movement, with a suite of capabilities enabling developers to create apps that are user-friendly and scalable. With over 400 different projects across the DeFi, NFT, and Web3 spaces, the Solana network is one of the fastest growing ecosystems in the cryptocurrency industry. With most transactions costing less than $0.01 in fees, and block times as low as 400 milliseconds, Solana is a fast and affordable blockchain for developers and users alike.

SOL is the native token of the Solana blockchain. The SOL token can be used for micropayments on the Solana blockchain (known as “lamports”), staked for crypto rewards, and used as reward payments for node operators. 

Polkadot – DOT

The Polkadot network is a DeFi project that allows information and assets to be exchanged between blockchain environments with fewer barriers. You can think of each blockchain environment as its own set of computers, almost like an intranet. Data is able to move within this network easily, ensuring all members of the network are updated as frequently as possible. However, this blockchain environment only contains data that is native to itself; data generated in another blockchain environment cannot enter this network easily. Projects like Polkadot act as an intermediary between these networks, allowing a free flow of information between blockchain environments.

All activity within the Polkadot network is fueled by the DOT token in three distinct areas: governance, staking, and bonding. All holders of DOT are able to directly influence the direction of the blockchain and its governance, including the timing, content, and pace of updates. Additionally, holders of DOT are incentivized to stake their DOT and behave in ethical ways; holders who act honestly within the network are provided with rewards, while dishonest actors have their stake penalized. Finally, bonding is used as a proof-of-stake (PoS) mechanism to ensure old and out-dated chains are cleaved from the herd, while useful and updated chains remain attached to the blockchain environment.

SHIBA INU – SHIB

Often spoken of as a “meme coin,” SHIBA INU was created in August of 2020 to challenge Dogecoin’s position as the people’s favorite dog coin. Beyond the memeability of this coin, SHIBA INU as a project is focused on rescuing actual Shiba Inus through the Shiba Inu Rescue Association, as well as supporting dog-loving artists creating NFTs.

The SHIB project has garnered massive amounts of conversation from crypto newcomers and veterans alike. The buzz around SHIB often centers on its passionate community, its fun-loving roots as a project, and the quick growth it has seen over the past year.

Buying Cryptocurrency on Metal Pay

Metal Pay users enjoy some of the most competitive fees across the cryptocurrency industry everytime they make a purchase. Not only is BTC, TUSD, MTL, and XPR available on Metal Pay for 0% fees, but all other cryptocurrencies start at 1% fees for every transaction. The fees you pay decrease by holding more MTL in your Metal Pay wallet, with 0% fees for all transactions unlocking once you hit 10,000 MTL.

Whether you’re buying cryptocurrency with cash deposited into your Cash wallet, a linked debit card, or another cryptocurrency trading pair, growing your crypto stack takes just a few taps on Metal Pay.

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Be on the lookout for more content about these cryptocurrencies on our primary social media accounts: Twitter | Instagram | Facebook. Ready to create a Metal Pay account? Visit our knowledge center to find quick guides to everything you need to do. When you’re ready, download Metal Pay on iPhone or Android and experience the best way to use crypto.

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