Brazil: After MetaMask, rival Trust Wallet releases crypto purchase with Pix

On Tuesday, October 4, the cryptocurrency wallet Trust Wallet announced it had released the purchase of cryptocurrencies through Pix.

With the novelty, users no longer need to resort to brokerages to purchase digital assets to use the digital wallet.

Purchasing via Pix is available on Trust Wallet through the integration of payment providers MoonPay, Simplex, and Transak.

“Increased adoption of cryptocurrencies starts with users having access to easy ways to convert their fiat currency into cryptocurrency,” Eric Chang, head of product at Trust Wallet, said in a statement.

“This is part of our mission to provide everyone with an affordable Web3 and empower users to hold their digital assets in an all-inclusive wallet.”

Owned by the Binance exchange, Trust Wallet is one of the largest crypto wallets in the world.

The app allows you to self-custody digital assets and is compatible with tokens from several networks, including Ethereum (ETH) and BNB Chain.

For example, apps like this are needed to interact with decentralized finance services (DeFi).

The news comes after MetaMask, Trust Wallet’s main rival, announced in September integration with Pix – the functionality is also provided via MoonPay.

When buying cryptos directly via the digital wallet, the user needs to pay a commission that is generally higher than that charged by brokerages.

In a test performed by the reporter, a Binance Coin (BNB) purchase at the Trust Wallet required a minimum of R$200 (US$38), with about 1% in fees.

With information from InfoMoney