MTL Coin

A decade after the evolution of cryptocurrencies, some potential crypto users’ still avoid using them due to the high technicalities, and rates that can surround them. Hence, for these people, none of these coins actually serve the purpose of easy day-to-day payments. However, there are some coins, like MTL coin, which enable users to focus on day-to-day payments and also earn rewards or free tokens while doing so. 

What is MTL Coin?

Metal is a new cryptocurrency token developed on the Ethereum blockchain as an ERC20 token. Metal rewards user with free MTL tokens for spending cash or converting fiat-to-crypto and vice versa. Spending, sending or receiving through the Metal payment processing app can help users earn up to 5% back in MTL tokens.

For example, while spending $100 via Metal Pay app, both sender and receiver can earn up to $5 in MTL. These tokens can also be treated as a liquid metal as they can either be traded for other cryptocurrencies on exchanges or converted into cash within an app. The users can also earn rewards if they simply hold Metal.

How does Metal Work?

The Metal app rewards users with MTL Coin using a process known as Proof of Processed Payment (PoPP). PoPP is a method adopted by Metal to distribute coins to users. The Metal app provides an inbuilt bank account for first-time users and helps them to track if the fiat has actually converted into crypto. Once the user confirms their account with Metal, he or she will be eligible to receive rewards in MTL through PoPP for either converting fiat into crypto or for sending fiat. To be eligible and actively participate in this process, the user needs to verify their identity and be fully compliant with the Metal KYC rules.

MTL Coin processing graphic

The sophisticated Proof of Processed Payment’s reward system restricts every transaction with a certain cap. Primarily, there is a cap of $1,000 in MTL rewards per month for individuals and a $5,000 cap for merchants. Secondly, PoPP rewards a good performance and punishes manipulation. For example, if two friends are rapidly transferring $100 back and forth, they will be immediately banned from receiving MTL rewards. But, when a legitimate transaction is confirmed, then the users can earn MTL tokens through PoPP.

The Metal Team

The team began its operation in 2016 in San Francisco and is led by Marshall Hayner, CEO and founder of Metal Pay. The Metal Team is a combination of industry experts, engineers, designers, entrepreneurs, investors, and advisors.

MTL Coin team

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Metal Token Supply & Metal Market Cap

There are 66,588,888 MTL Coin tokens issued over the Ethereum blockchain ERC20. Around two million are held by the Metal foundation, while 3.8 million is set aside for employees and advisors. Approximately 13.3 million is locked for a year in the operation pool for the Metal Project.

The PoPP issuance model has 26 million Metal tokens reserved for distribution in terms of rewards and new issuance of currency. The 5% reward in MTL tokens are issued as long as the PoPP supply remains. Around 21 million tokens are in circulation.

Metal Banks and Metal Vault

Metal offers users with a bank account that is similar to that of normal bank account consisting of a checking account, a routing number, a debit card etc. These types of accounts are FDIC insured, which ensures the safety of the user’s funds.

Metal has started providing this service to the US. The team at Metal Pay is working to expand this service to other countries.  

Metal Vault is a web wallet. It is an inbuilt wallet within the Metal app, which holds Metal, Bitcoin, Ethereum and ERC20 tokens. This wallet is designed to be a non-hosting wallet to ensure that no other third-party holds the private keys of cryptocurrencies. Having said this, the team also plans to link FDIC insured bank accounts to the Metal Vault to make sure that the user can buy Metal within the Metal Vault and earn more Metal in the process.


Metal provides free peer-to-peer processing but charges a fee for merchant processing. Merchants can purchase platform credit with MTL to sign up for a discount plan associated with payment processing fees and merchant services. Metal Pay mentions that Merchants also receive an additional 5% off of payment processing fees for offering a discount when paying with MTL. However, for consumers, it would be exciting to gain a discount by merely paying with cryptocurrency.

Generally, Metal tokens are attractive to cash-only businesses that do not possess the best relationships with the banking industry. According to their whitepaper, the project focuses on high-risk merchants, cash-intensive merchants and those who wish to accept cryptocurrency.

Who are the Competitors?

With Metal providing a 5% return in MTL Coin, it is a strategy of Metal Pay which keeps it prominent in the competitive payment processing space.

Coinbase Commerce allows businesses to accept digital currency payments but does not provide any rewards.

The Bread app with its own native token known as Bread Token (BRD), incentivizes users to stay within the Bread network. Nevertheless, Bread does not provide free BRDs for simply sending funds.

Where to buy Metal Cryptocurrency?

Some of the exchanges that allow users to buy MTL Coin tokens are:

  • Binance: Supported pairs are MTL/BTC, MTL/ETH
  • Cryptopia: Supported pairs are MTL/BTC
  • Livecoin: Supported pairs are MTL/BTC, MTL/USD, MTL/ETH
  • EtherDelta: Supported pairs are MTL/ETH

Metal Wallets

Metal is an ERC20 token and hence there are a plethora of wallets to store Metal tokens safely. Some of them are:


Considering the fact that banking and crypto trading do not blend well, Metal could thrive to build a bridge between the two. With the vast majority of the world’s population not understanding or owning any cryptocurrency, people might come forward to explore the benefits of cryptocurrencies because of Metal.

Metal Pay app for iOS is scheduled to be released in Q1 of 2018. If provided with the choice between the apps that offer 5% rewards and others that do not offer, people would decide easily which one to opt for.

You never know, you might be the next person to collect free MTL Coin through PoPP as soon as the processing payment app launches.


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