Bitcoin was originally introduced as a medium of payment rather than a store of value. Bitcoin's sole purpose that people can send money across International boundaries at a very cheap rate and without having to depend on any centralized authority. But as the time passed, Bitcoin slowly became a store of value and now people invest in Bitcoin so that its price will spike eventually and they could reap good returns from it.
But apart from Bitcoin, there are many projects out there in crypto space which allows people to transfer money across the Globe faster than Bitcoin and even more economically. One of those projects is Metal (MTL).
What Is Metal (MTL)?
Metal is a Blockchain based cryptocurrency project which allows you to transfer money from one place to the other without having you to depend on any centralized authority. Moreover, it 'pays' you to send money through Metal platform.
Yes, you heard it right.
Metal rewards you in MTL tokens when you transfer money or convert fiat into cryptocurrency. Its simple, when you spend, send or receive money in MetalPay App, you can earn upto 5% in MTL tokens.
For example: If you have to send $1000 to someone, then you and the person who'll receive that money in MetalPay App, will get $50 worth MTL tokens back in their wallet. These Metal tokens are the liquid tokens which can be converted back into fiat or traded on cryptocurrency exchanges.
Metal (MTL) Vault
Metal Vault is an Web-based Application of Metal Platform. It is a web wallet for Metal tokens, Bitcoin, Ethereum and ERC20 based tokens. Litecoin will be added to it shortly and there's also planning to add FDIC insured Bank accounts with Metal wallet. With the help of bank account, you'll be able to buy Metal Tokens within the Metal vault, thus earning 5% tokens extra on every transaction.
What Differentiate Metal from its Competitors?
Its Metal's framework which separates it from its competitors. First, you earn Metal tokens for inviting your friends over to the MetalPay App. Secondly, the MetalPay App allows you to send Metal tokens instead of cash which is free. Thirdly, for every transaction of any kind, you'll get 5% bonus in Metal tokens.
Other wallets don't provide their kinds of benefits with their services. Bread (BRD) and Ethos (BQX) are some of the competitors of the Metal project and none of them provides benefits like Metal.
Metal (MTL) Token Statistics
Metal token is the in-built currency for the platform. All the transactions done on Metal platform has to be performed or initiated in MTL token only.
As you can see above, Metal (MTL) has a market capitalisation of $65.9 Million with a total supply of 66.5 Million MTL tokens.
Current price MTL token: $2.63
Verdict
Well, this project certainly shows a great value within the crypto space. With a great team backing the project and some strong fundamentals, Metal project might turn out to be a good investment decision. The value this project is unparalleled in every possible manner.
If you want to invest in the project, I would advise you to read their whitepaper first and then only take the investment decision.
Thanks for reading ....!!
I remember seeing Metal a long time ago, need to check up on how the project's doing lately
What if I have 2 mtl wallet and I make thousands of transactions. Will I get bonus up to 5%?
Yes, as per their framework you should get cashback upto 5% in MTL tokens.
For me, MTL is really worth investing for because they really provides what they are promise to their users.