PayPal allows transfer of crypto with external wallets -Breaking
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© Reuters. FILE PHOTO – The PayPal logo can be seen on a smartphone positioned in front the logo in this illustration, taken September 8, 2021. REUTERS/Dado Ruvic/Illustration(Reuters] – PayPal Holdings Inc stated Tuesday that users will be able to transfer cryptocurrencies, including bitcoins to other wallets. The announcement comes almost two years after fintech company Fintech World opened its digital currency platform.
The company, based in San Jose, California, stated that the feature will be accessible to selected U.S. users beginning Tuesday. In the following months it will be extended to all eligible U.S customers.
PayPal (NASDAQ: ) opened its doors to customers in October 2020, making it possible for them to purchase, sell, hold, and transfer bitcoin, ethereum and bitcoin cash. However, users weren’t allowed to remove crypto holdings from the platform before that.
With celebrities, large investors and big-name blue-chip businesses investing in crypto, there has been a huge increase of interest in the market. The prices for these currencies remain volatile which has lowered their value as an inflation hedge.
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