What is MTL?

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How to Buy MTL

Just like any other digital coins, MTL is available for purchase when you go to an online brokerage site for crypto coins. To be able to buy MTL through a broker, the process involves the following steps:

A. Choosing an online broker – avoid fraudulent entities by meticulously choosing a well-documented broker.

B. Opening a Crypto Trading Account – determine the features of each trading account together with the initial deposit requirements 

C. Choosing your Funding Method – Weigh in the options for funding your account that is the most convenient for you.

D. Funding your Account – pay the required trading capital through the funding method of your choice.

E. Purchasing MTL tokens – Place a buy order using your opened trading account and store your MTL tokens by securing a wallet.

Aside from the conventional way of acquiring MTL tokens through several online crypto exchanges, MTL developers are working on launching a platform to purchase MTL tokens. This project is named the Metal Pay app. The Metal Pay app will be soon available to the public and crypto investors and enthusiasts can access this downloadable mobile application to purchase and trade MTL using fiat currency or even other cryptocurrencies. 

MTL is designed in such a way that it cannot be mined nor staked. However, crypto users can still get MTL as this digital token can be earned through completing a transaction or converting fiat currency to MTL using the MetalPay platform.

MTL Value and Price

Metal’s current price in the market is at $0.322853 (USD) as listed by Marketcap. MTL is one of the cellar dwellers in terms of price ranking of cryptocurrencies at rank 175. 

MTL’s market cap is at 21, 141, 636 USD. Its all-time high was recorded in September 2017 at $14.82 while its all-time low was at $0. 115232 posted in March 2020. 

MTL has a current circulating supply at 65, 483, 821 out of its total maximum supply set at 66, 588, 888 MTL. This crypto token is currently traded on at least twenty-five active markets.

MTL is looking to the possibility of becoming ‘the PayPal of cryptocurrency’ with its decentralized and innovative payment platform designed and geared to enable crypto holders to use cryptocurrencies for daily purchase transactions as an alternative to fiat currency.

Being a lower-ranked crypto token, MTL is still in the beginning phase of its development as a digital coin. MetalPay CEO Marshall Hayner first introduced MTL in 2016. Hayner’s team is comprised of several individuals who came from big financial institutions including VISA, American Express, and Apple Inc.

The MetalPay app is actually now on its beginning phase of the trial with pilot MTL users and professional testers using its serviceability and will soon be launched publicly once it is ready. By then, the use of MTL tokens is expected to rise together with its market price.

MTL Advantages and Disadvantages

Metal has an array of advantages as well as setbacks. In this segment, let us analyze the following key characteristics that set MTL apart from the rest of cryptocurrencies. Also, let us weigh in some of the challenges faced by MTL as a young and undeveloped crypto token. 

Pros

Unlike any other blockchain technology that was developed to attract mining and staking, MTL was developed to introduce a payment platform that will empower cryptocurrencies to be used to complement or replace fiat currency in daily purchases of goods and services. It aims to establish a crypto-based banking and payment platform and reward its users with 5% of their total transactions upon using its services.

Another salient opportunity of MTL is when its application MetalPay is introduced to the markets and is integrated into the payment options for online and brick-and-mortar stores. It will also be integrated into banking transactions that will facilitate cash transfer using cryptocurrencies.

As an ERC20 token, MTL is supported by an array of wallets and crypto exchanges. It is mainly supported by Ethereum, the second-largest crypto coin next to Bitcoin.  More so, Metal Pay is offering its own secure wallet to store MTL coins, which also supports other cryptocurrencies including BTC, LTC, and ETH.

With this, MTL users will not have a hard time purchasing and storing MTL tokens. To distribute MTL coins, the blockchain uses its self-developed Proof of Processed Payments (PoPP), the Proof of Work version in Bitcoin.

Finally, MTL developers transparently present its legal developments as it acquires pertinent licenses to operate as a legitimate cryptocurrency banking and payment platform in several countries around the globe.

Cons

MTL being in the initial phase of its development is inclined to experience immense volatility in prices. Hence, traders and investors of MTL will have to deal with upsets and losses perennially until the value of the coin goes higher.

MTL is also set to face fierce competition against cemented payment platforms in the industry such as PayPal, AliPay, and WeChat Pay. MTL will be challenged to hold its ground against these giants once they innovate their platforms to offer something for their users.

Lastly, MTL remains a risky investment on the basis of stability. Since it is not guaranteed that its blockchain technology will work out as good as advertised, the risk remains high as no solid fallback is known if the price of this token continues hit bottom ground.

Best MTL Wallet – how to choose?

When you are decided to buy MTL tokens, the next thing that you need to consider is the best MTL wallet to store your tokens securely.

Below are some guidelines to help you choose the best MTL wallet.

1. Conduct a background check of the developer before downloading an Ethereum wallet app to make sure that it is safe and reliable.

2. Look for advanced security features for the wallet app that you are eyeing. It can be in a PIN code, two-factor authentication, or multi-signature.

3. Check the compatibility of the wallet app across all platforms to be able to access your wallet using any browser or device.

4. Choose the wallet app with secure private keys to give you full control of your own crypto wallet.

If you are looking for a specific wallet for MTL, the company launched an MTL wallet called Metal Vault which supports all ERC20 tokens. Purchasing MTL coins is even possible upon using Metal Vault which will enable you to earn even more MTL coins.

Metal Vault is a web wallet released in October 2017 and will be further developed to store more crypto coins. Metal Vault has also a special functionality to be locked to avoid losing your hard-earned funds.