Find some chalk and update the tally - we're now two-for-two on exciting news in this edition!

The world's most popular Ethereum wallet, MetaMask - which is pretty much 'the gateway to Web3' right now - is getting a seemingly small update, with BIG implications.

Web3 users will soon be able to fund their crypto wallets via bank transfers, which doesn't scream 'exciting' at first - but it absolutely is. Here's why...

Most folks currently fund their MetaMask wallets, by doing the following:

1. Sign up to a crypto exchange (like Coinbase)
   ​

2. Go through 'Know Your Customer' (KYC) approval, by submitting their ID and often a photo of themselves holding a piece of paper with a security code written on it.
   ​
   (Weird, but it proves they are who they say they are).
   ​

3. Wait to be approved.
   ​

4. Once approved, transfer money from their bank account to Coinbase, or via a credit card.
   ​

5. Purchase Ethereum or an Ethereum based token.
   ​

6. Send that Ethereum to MetaMask, making sure to check that it is being sent to the right network.
   ​
   Eg: the USDC token runs on both Solana and Ethereum - if you try to send Solana based USDC to an Ethereum wallet (like MetaMask), you'll lose it all - with no way of getting it back.
   ​

7. They now have Ethereum in their MetaMask wallet.

(Ugh, we're exhausted just reading that).

Here's how you'll fund your MetaMask wallet after the update:

1. Transfer from your bank account to MetaMask, where the funds are automatically converted into your chosen Ethereum based token.
   ​

2. You now have Ethereum in your MetaMask wallet.

New technology needs to be better in just about every way, in order to replace what came before it.

One of Web3's largest bottlenecks right now is ease-of-use.

And this is one big bottleneck, completely removed.

​