PayPal Supports Cryptocurrency Transfers For Bitcoin, Ethereum, BTH, Litecoin

In response to customer demand, PayPal announced that its users can now transfer cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash and Litecoin, from their accounts to other online wallets and trading platform address.

Jose Fernandez da Ponte, vice president and general manager of blockchain, cryptocurrencies and digital currencies at PayPal, said users have been in demand since the company started offering cryptocurrency purchases.

Jose Fernandez also pointed out that it sees its platform as a bridge between the fiat or traditional financial environment and the web3 environment, and is realizing the connection with other wallets, exchanges and applications.

The new feature will allow users to transfer cryptocurrencies from their app to external crypto addresses, including exchange platforms and hardware wallets, or can bring cryptocurrencies owned on other platforms to PayPal Integration and transfer to PayPal in seconds Anyone in the system sends cryptocurrency.

For now, the new feature is only available for US users. PayPal said that for security reasons, it has implemented an additional authentication process for users before any cryptocurrency can be transferred.

PayPal offered its users the ability to buy, sell, and hold cryptocurrencies in October 2020, and in late March 2021 announced Checkout with Crypto, a feature that allows consumers to use cryptocurrency in millions of online businesses shopping in.