Metal Altcoin Appreciation Month

By Mike Bateman | CryptoReviews | 9 May 2019


Originally posted April 5th 2018

Metal (MTL)

Today continues our appreciation of alt coins both high and low cap (mostly low cap) with the 4th article of altcoin appreciation month. As stated in yesterday’s article, were looking at Metal, another one of my low cap favorites. Metal is an ambitious project looking to be both your all purpose wallet, complete fiat and crypto payment platform, and exchange for buying crypto with fiat pairs.

  1*yDceO6UMGdiN2XNKEyzyJA.jpeg

The Metal project was cofounded by Marshall Hayner, an early Bitcoin activist and founder of Quickcoin along with being one of the organizers of the first Bitcoin fair in San Francisco. Two other prominent executive members are Andy Goldstein and Oscar Munoz. Both individuals possess years of experience in the payment space with both having worked at VISA and Andy also having previous experience at BitPay. The team’s experience in this realm is incredibly important as the team is both navigating the regulatory and banking space of US law as well as designing their mobile banking and payment platform.

The Metal token has a total supply of just over 66 million. The circulating supply is right over 22 million tokens and has a market cap of $74 million. The current aggregate trading price is as follows $3.33, 50,458 Sats, and 0.00888593 ETH.

  1*JPKRdrB-68XtdIqp2pOuuQ.png

Overall the Metal Pay platform has 4 distinct release phases the Metal Vault (completed), Metal Pay (in alpha), Metal Merchant, and Metal Blockchain. The Metal Vault is a web-wallet that acts as a nearly complete wallet where users can store, Metal, Bitcoin, ETH, and other ERC20 tokens. The web wallet is fully equipped with hardware wallet integration, single and multisig, private key backup, 24/7 live support, 2FA through google authenticator, and the ability to add custom tokens. In the future, the team is looking to add more features including an integrated bank account for U.S. users, an in-wallet exchange, and an API. All of these features will come together to create one of the best complete crypto wallets for US users.

  1*hf6JB4uC_Wd00kuUtslMUw.png

Now, the team isn’t looking to only tackle the web. The main product of the Metal Pay team is their phone application that will be connected to a user’s Metal Vault and allow for P2P sending of MTL and USD. On release, the team aims for the following features: Google Authenticator 2FA, 24/7 Live support, initiation of the Proof-of-Payments Processor (PoPP), P2P sending of MTL and USD, bank account and credit card linking for USD, MTL to USD conversion, refer a friend, integrated bank accounts for US users, and many others. Metal Pay was recently placed in Alpha on March 31st. The team believes that due to regulation compliance in individual states, the first rollouts of the app to the public will be this summer.

  1*T1luSY1ZISYixWEt55aYfA.png

Currently the app is distributed within the Metal Pay team and to select individuals under an NDA. The team will gradually send out invites to members of the community via their Telagram and Discord (linked below as well). This alpha version will operate on a testnet and does not allow for sending of real MTL or USD. Once the first couple rounds of the private alpha have been sent out the team will launch the mainnet and a closed Beta version open to team members and equity investors. The app will remain as a closed beta version until the necessary licenses are obtained for distribution to the public.

Once the closed beta is out, real payments will be as enabled well as PoPP (explained below). In the closed beta the MTL received from PoPP will come from the MetalPay company’s private fund and not from the general pool to be used after open beta release. An open beta and the use of the the public PoPP pool will occur when the first states accept the app. A beta designation will be kept for the app until around 25 states allow for the apps release. For updates regarding the Metal Pay app, please subscribe to the Team’s email list on their main website.

Update 4/13/18 — For a video demonstration of the app in Alpha testing from the Metal team please check out this video! https://www.youtube.com/watch?v=-TJkW2Ofknw

Next we have Metal Merchant and Metal Blockchain. Metal Merchant would function as an extension of Metal Pay with special features for businesses. Some of these features include special cash back bonuses, on top of the received PoPP, that merchants could offer to customers that would be received on a user’s Metal app for spending at the merchant. Other features include reduced fees for merchants who accept USD and MTL for goods and services, Merchant referral bonuses, and unreleased information regrading special Merchant incentives for holding MTL. Lastly with Metal Blockchain there are not too many specifics known. What is known is that the Metal team would like to eventually progress towards a fully standalone blockchain from an ERC20 token.

As you can see, Metal has a lot planned and already is well underway with its main features but here’s how all of that will work. Metal will make use of the Know-Your-Customer (KYC) identification system for use in its payment platform as well as its patent pending PoPP system. Through KYC it will use its PoPP system to fairly distribute MTL to those who use the platform. PoPP is important for two main reasons. First, it will act in the distributing of new MTL on the platform and will be involved in user identification. For the identification aspect to work, the system will require your social security number or passport ID, and a photograph. That photograph may be a personal picture or some identifying document. In addition, for processing payments its going to require a credit/debit card or an e-mail for those who do not have one of those payment methods.

  1*m5vMV5PMfWdecIBoZ3Kmcw.png

Now to the fun part, PoPP rewards users with MTL for users who convert fiat currency into crypto through the Metal system, pay with MTL, or pay with fiat. Specifically, both the sender and receiver in a payment will receive 5% of the total amount transacted in the form of Metal tokens once a payment is completely settled either by the banks involved or crypto addresses. For instance, if you were to send someone $100 in MTL, both you and the receiver will get 5 MTL each. For more information about Metal and PoPP please visit the links below as well as the infographic!

  1*0n2GCDoBib7Oi-yEk3iboA.png

Metal Website — https://www.metalpay.com/

Twitter — https://twitter.com/metalpaysme?lang=en&lang=en

Reddit — https://www.reddit.com/r/MetalPay/

Metal Pay Launch Info — https://blog.metalpay.com/metal-pay-alpha-beta-and-beyond/?v=1

Metal Vault — https://app.metalpay.com/login

Telegram — https://t.me/MetalPayCommunity

Discord (invite) — https://discordapp.com/invite/B2QDmgf

Metal is currently available on multiple exchanges with the most volume on Binance, Upbit, and Huobi. Binance offers a BTC and ETH pairing while Upbit offers a KRW pairing, and Huobi offers a BTC pair. The most volume is done on the Binance BTC pairing (~50%) and the Upbit KRW pairing (~38%). Links to each of these are below (Binance link is a referral link).

Binance — https://www.binance.com/?ref=11591001

Upbit (site is in Korean) — https://upbit.com/

Huobi — https://www.huobi.pro/

Thank you for reading today’s Altcoin Appreciation Month article. Tomorrow I will be unable to post an article due to exams and work, so to compensate for that the next coin is InvestFeed (IFT) and will include my own personal review of the website and my use of the platform. If you missed any of this weeks articles please check my profile.


Furthermore, if you would like the latest updates when I release articles please follow me on here, Twitter @thant1194, or Investfeed @thant11. I am not associated with the Metal Pay team besides being a bagholder. Thank you and good luck trading.

How do you rate this article?


0

0

Mike Bateman
Mike Bateman

Altcoin Fundamental Analysis | Crypto Education | Direct Response Copywriter | Stuck here until my reservation at Dorsia is confirmed


CryptoReviews
CryptoReviews

My coin and token reviews

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.