October 2, 2022

PayPal users can now transfer, send, and receive crypto (Bitcoin and others)

PayPal

PayPal

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.

Transferring crypto into PayPal

For complete news and details please refer to PayPal’s official press release statement –

It will be interesting to see how many users will use PayPal for their Crypto needs. However, PayPal is a known name in most Major countries. This makes it easy and more accessible for everyday users to use PayPal for Cryptocurrencies. Will you be using PayPal if it is available in your country? Let us know.
The US is one of the countries which is getting adoption as well as Regulation in full swing. Considering this many countries and Services like PayPal has a lot of room to grow. Only time will tell, however, how good this will be.

If you have any questions or if you need any help, do let me know. You can connect with us on Social Media as well. If you are planning to start investing do check out Binance and WazirX. Check our Cryptocurrency tab for more related stories.

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