PayPal is going further than any other credit card company in offering the digital currency that enables instant, free and secure transactions that are beyond the realm of governmental control, tax authorities and national borders. It has now expanded its crypto activities to allow people to transfer the crypto tokens to external wallets.
For PayPal, the move is a step toward its vision of an economy where ownership of currency is democratized and not a mere privilege to be enjoyed by a few. With the launch of this new feature, PayPal will allow payments to be sent to the external wallets of the customer or a customer-designated recipient. This is intended to ease the payment experience for customers and help merchants to accept payments from their customers.
PayPal now allows Transfer of Crypto to External Wallets
Paypal is now allowing its customers to buy, sell, transfer, hold, and receive digital assets or cryptocurrencies like Bitcoin, Bitcoin Cash, ethereum and litecoin between PayPal and other wallets and exchanges. It has started the transfer of Crypto feature in October 2020. But this feature was not there before due to which the customers were unable to move crypto holdings off its platform earlier.
This feature was only available for some selected users in the USA. But after a few months of its launch in the market, it was available to all the eligible users a California-based company said.
If anyone wants to transfer cryptocurrencies then he/she would only have to log in to their respective accounts. After this go to the crypto section and then can transfer the crypto. If the transfer is done between two Paypal users then no charge is taken. But if the transfer is done outside of Paypal then he/she will be charged a network fee depending on the type of blockchain.
Paypal to increase its digital presence and reach every corner of the world. Now it is wanting to step into different types of cryptocurrency services. The company is also looking forward to launching a coin of its own when it gets many potential users.
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