Coin Metal, an app that allows you to buy or remit things with coins, directly issued by Metal Pay. It was first published on July 17, 2017. Metal started with a sense of problem that Coin has not been able to rise as a mainstream payment method even eight years after Bitcoin was released in 2009.

Metal’s publisher Metallickers pointed out in a white paper that “the general public does not have enough motivation to use Bitcoin,” not a worker in the blockchain industry. The white paper stressed, “Bitcoin has shown that money can appear outside the existing financial system and prevent forgery with blockchain,” adding, “But it was not powerful enough to revolutionize payments.”

To solve this problem, Metal once offered an exceptional compensation service that gives users reserves without paying fees. Unlike conventional coins, which had to pay even a little commission when remitting money, Metal did not receive any commission at all, but rather gave up to 5% of the remittance amount. There was no commission when purchasing items with metal.

Those who have metal also receive discounts or exemptions from fees when transferring other coins such as Bitcoin and Ethereum through Metal Pay. Specifically, those who have more than 10,000 metals are exempted from fees when transferring other coins, and those who have less metals receive discounts on fees.

Let’s end the reward and go to Stable Coin

Metal’s commission discount has been maintained until now, but the compensation service, which gave coins every time it was remitted, has ended. Metallickers explained on its official blog on September 15 last year, “Metalpay’s unique compensation program has officially ended,” adding, “This program, which was conducted to attract active users, was able to publicize Metal.”

By writer

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