What is Metal DAO Crypto? How does it work?

What is a Metal DAO Crypto?

Firstly, Metal is a blockchain-based system utilizing Proof-of-Processed-Payments to identify users, rewarding them for converting legacy fiat currency into cryptocurrency.

Chiefly, Metal DAO (MTL) is a utility token that currently governs the stablecoin Metal Dollar (XMD).

In addition to providing tiered trading discounts to MTL holders when using the Metal Pay cash & crypto app. Metal Pay customers can enjoy 0% fees on all cryptocurrency purchases.

Essentially, it is an ERC20 token built on the Ethereum blockchain.

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Metal DAO Crypto-What is a DAO?

Firstly, it is a decentralized autonomous organization (DAO). Secondly, it is an emerging form of legal structure that has no central governing body and whose members share a common goal to act in the best interest of the entity.

Thirdly, it is popularized through cryptocurrency enthusiasts and blockchain technology.

Essentially, DAOs are used to make decisions in a bottom-up management approach.

What are the Core Features of Metal DAO Crypto?

Chiefly, it is similar to Bitcoin but with the user interface of Venmo or PayPal which makes it easier to use.

Additionally, its payments are approved or declined immediately unlike traditional systems which take days to settle.

Secondly, it implements KYC to avoid any money laundering or bad activities.

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Use case of Metal DAO Crypto?

Firstly, merchants can buy platform credit with MTL to get discounts on merchant services.

Secondly, merchants can get an additional 5% reward by paying with MTL.

Thirdly, the application and usability of MTL will be swift and powerful with the backing of a payment processing system.

Additionally, it is a blockchain-based token that can be integrated into other platforms as well as traded on exchanges or from user to user.

How Does Metal Dao Work?

Firstly, Metal Pay (Metallicus, Inc.) develops blockchain payment products for digital assets.

Secondly, the company was founded in 2016, with its headquarters in San Francisco, California.

Thirdly, Metal’s flagship product, Metal Pay, is an FDIC-insured bank account that allows for the purchase, sale, and P2P transfer of over 40 cryptocurrencies.

Mainly, Metal Pay allows people to instantly send money to friends, family, and businesses with just a phone number and rewards them with some cryptocurrency for each transaction.

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Pros of Metal DAO Crypto?

Chiefly, 100% of MTL tokens are already in circulation which is a good thing for its token.

Secondly, Metal is interoperable so one can convert multiple tokens using it. Additionally, it’s a good thing as the future of crypto is interoperability.

Thirdly, the Metal user face is too easy and that is very important for adoption.

Cons of Metal DAO Crypto?

Firstly, it has a lot of competitors from lightning networks to all the new interoperable blockchains.

Secondly, the majority of the supply is in a few hands which is bad because whales can dump at any time.

What is the market cap of Metal DAO?

Chiefly, the current market cap of Metal DAO is $72.3M. A high market capitalization implies that the asset is highly valued by the market to put it simply.

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What is the Current trading Volume of Metal DAO?

Currently, 3.22M of MTL were traded within 24 hours of time. In other words, 3.22M have changed hands within the past 24 hours through trading. That’s a change of -11.52%.

Mainly, the 1 Metal DAO currently costs $1.12.

How many Metal DAOs are there?

Chiefly, the current circulating supply of Metal DAO is 64.63M. This is the total amount of MTL that is available.

What is the relative popularity of Metal DAO?

Firstly, Metal DAO (MTL) currently ranks 348 among all known crypto assets. The popularity is based on relative market cap.

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What is a Metal DAO Wallet?

Basically, to store and manage Metal DAO, you need a compatible wallet. Whether you are looking to keep your assets safe and HODL or manage them on a daily basis, Ledger has the right product for you.

Further, Ledger Live is your one-stop platform for smooth and complete asset management. With just a few clicks, you can send/receive Metal DAO.

Can Metal DAO Make Money from Proof-of-Processed Payments?

Firstly, Metal DAO (MTL) is an ecosystem that uses Proof-of-Processed -Payments (PoPP) to convert fiat currency into cryptocurrency.

Secondly, Metal DAO ‘s goal is to build a user-friendly interface similar to Venmo, Square, or Paypal that offers ordinary people easy access to cryptocurrency. They claim the Metal Pay app is that interface.

To explain, Metal Pay serves as a gateway to the Metal DAO’s ecosystem.

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Proof-of-Processed -Payments

Firstly, it is digital evidence a person is making a payment in the real world. For example, evidence that a crypto purchaser has fiat currency. Further, Metal Pay uses PoPP to identify users and verify their payments.

Secondly, Metal’s PoPP system will identify people through Social Security or passport numbers with identification software.

Thirdly, Metal will keep photographs of users and pictures of identifying documents on file to verify users’ IDs.

Additionally, the Metal PoPP link to credit and debit cards and bank routing numbers for payment processing.

Further, users can also sign up with email addresses if they want to provide credit card, debit card, or bank routing numbers.

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How Metal DAO uses Proof-of-Processed -Payments (PoPP)

When Metal Pay(MTL) processes a transaction, it returns a gross amount of the payment to the Metal DAO in the MTL cryptocurrency to put it simply.

To explain, this amount can be up to 5% of the transaction volume. Theoretically, the Metal DAO will use this MTL, to reward Metal Pay users.

For example, a person could receive one MTL for every $1 USD they spend through Metal Pay.

Essentially, the Metal DAO uses Proof-of-Processed-Payments(PoPP) as a Know-Your-Customer (KYC) identification tool.

Hence, Metal DAO could comply with banking regulations that require payment systems to use KYC and Anti-Money Laundering (AML) technology.

Lastly, Metal has a proprietary AML solution and anti-fraud technology to protect users. It is claimed that Metal Pay can process payments in under one minute.

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Conclusion

Basically, Metal aims to grow its applications rapidly to bring large amounts of users to interact with and use MTL. As we look forward to the future the goal is to make cryptocurrency easy to use, economical, and incentivized.

Further, Metal DAO’s Goal is to provide financial services to businesses in developing countries and smaller nations.

Mainl goal of Metal DAO is to allow people to access crypto with no blockchain or FinTech knowledge. Basically because today you need an understanding of blockchain to access and use many cryptocurrencies.

If you would like to know where to buy Metal DAO at the current rate, the top cryptocurrency exchanges for trading in Metal DAO stock are currently Binance, Bybit, Bitrue, Bitget, and Hotcoin Global. 

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FAQs

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