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PayPal Users Can Now Transfer, Send, and Receive Cryptocurrencies from other Wallets and Exchanges



PayPal crypto transfer

PayPal, the online payments giant announces on Tuesday that it will support the native transfer of cryptocurrencies between PayPal and other wallets and exchanges.

With this new feature all the eligible PayPal users of U.S. will be able to transfer supported coins to PayPal and transfer crypto from PayPal to other crypto addresses including exchanges and hardware wallets.

Also, the users will be able to send crypto to family and friends on PayPal in seconds. There is no fees or network charges to send or receive crypto to PayPal users as per the official blog post.

Currently, Bitcoin, Ethereum, Bitcoin Cash, or Litecoin are allowed to transfer, send and receive on PayPal. The users who will transfer their crypto to PayPal can also spend it at millions of crypto merchants and checkouts.

For more information on how to use this new feature by PayPal, watch the video below.

Also, PayPal has also been granted a full Bitlicense by the New York Department of Financial Services (NYDFS).

According to the official blog post it’s the “first company to convert a conditional Bitlicense into a full Bitlicense – signaling our commitment to responsible innovation and expanding the accessibility and utility of digital currencies while fully complying with regulatory guidelines and best practices.”

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.