PayPal users can now transfer, send, and receive crypto (Bitcoin and others)
PayPal users can now transfer, send, and receive crypto (Bitcoin and others). PayPal has been in the news for some time regarding Cryptocurrencies. Since the fall of 2018, PayPal and other major players started exploring their ways into Cryptocurrencies. In a recent move, PayPal announced that it now supports the native transfer of Cryptocurrencies between PayPal and other wallets and exchanges.
The service as mentioned earlier will be only available to US customers in the coming weeks. The functionality lets PayPal customers:
- Transfer supported coins into PayPal.
- Move crypto from PayPal to external crypto addresses including exchanges and hardware wallets.
- Send crypto to family and friends on PayPal in seconds, with no fees or network charges to send or receive.
Bitcoin, Ethereum, Bitcoin cash and Litecoin are the major cryptos to be included. PayPal has also been granted a full Bitlicense by the New York Department of Financial Services (NYDFS). Becoming the first company to convert a conditional Bitlicense into a full Bitlicense.
For complete news and details please refer to PayPal’s official press release statement –
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