PayPal Finally Unleashes Crypto Transfers: Send Bitcoin and More to External Wallets!
The wait is over! Payments giant PayPal now allows users to transfer cryptocurrency from their PayPal accounts to external crypto wallets, and vice versa. This long-awaited feature is a game-changer for crypto enthusiasts.
What You Need to Know About PayPal's Crypto Transfer Feature
More than a year since plans were revealed, payments giant PayPal has finally started to allow users transfer their digital assets. No longer are your Bitcoin, Ether, Litecoin, and Bitcoin Cash stuck within the PayPal ecosystem. You can now move them freely!
Which Cryptocurrencies Can I Transfer?
Users can now send supported tokens – bitcoin, ether, bitcoin cash and litecoin – to external addresses, including those linked to exchange accounts and hardware wallets. This provides increased control and flexibility over your crypto holdings.
Why is This Such a Big Deal?
Transferring cryptocurrencies from PayPal to other wallets is a long–sought function. And, now it’s finally working! This opens up a world of possibilities for users who want to participate more fully in the decentralized finance (DeFi) space.
Enhanced Utility and Convenience
The ability to transfer crypto to friends and family, whether they are PayPal users or external wallet holders, further enhances the utility of digital currencies in everyday life. This feature makes it easier to use crypto for payments, remittances, and more.
How Does It Work?
While the full rollout is still underway, the feature is now available to select users. PayPal, which acquired a full Bitlicense from the New York Department of Financial Services for the conduct, will allow users to conveniently transfer cryptocurrencies to and from their accounts.
What's Next for PayPal and Crypto?
This update signals a significant shift in PayPal's approach to cryptocurrency. As they continue to integrate digital assets into their platform, we can expect to see even more innovative features and services in the future. Stay tuned for more updates!
Originally posted on : Crypto News - iGaming.org