PayPal Lets Users Transfer Bitcoin and Ethereum To External Wallets (decrypt.co) 9
PayPal announced on Tuesday that the service now "supports the native transfer of cryptocurrencies between PayPal and other wallets and exchanges." Decrypt reports: The ability to conduct external transfers on PayPal's crypto platform, an image of which can be seen below, will start rolling out to users today and be available to everyone in the U.S. in the next week or two. PayPal first launched its crypto offering in late 2020, allowing users to buy, sell, and hold four cryptocurrencies -- Bitcoin, Ethereum, Bitcoin Cash, and Litecoin -- but not to move the funds to external destinations like MetaMask, Coinbase, or hardware wallets.
The fact users now can do this is significant because PayPal, which also owns the popular app Venmo, is used by hundreds of millions of people across the world to move money, and is increasingly used by merchants as a payment platform. It's also notable that PayPal is not backing off its ambitious crypto plans despite a financial downturn that's seen the company's share price get battered in recent months.
The fact users now can do this is significant because PayPal, which also owns the popular app Venmo, is used by hundreds of millions of people across the world to move money, and is increasingly used by merchants as a payment platform. It's also notable that PayPal is not backing off its ambitious crypto plans despite a financial downturn that's seen the company's share price get battered in recent months.
Which is it? (Score:3)
The fact users now can do this is significant because PayPal, which also owns the popular app Venmo, is used by hundreds of millions of people across the world
Sweet, hundreds of millions of users across the world.
will start rolling out to users today and be available to everyone in the U.S
Wait, I thought we were talking about the whole world user base?
Re: (Score:2)
Re: (Score:3)
Now letting you do this?
I must be missing something because I didn't think there was a way they could stop you from doing this. That the nature of crypto prevented anyone from controlling where you could and couldn't store it, or spend it.
Re: (Score:2)
> Wait, I thought we were talking about the whole world user base?
I'm sure PayPal would like nothing more than being able to avoid regulatory compliance for the next 152 countries they need to support.
Dear PayPal (Score:2)
I quit them when it became more about tricking me into signing up for a fake bank account/crypto than sending money to my de...friend. Yes. Friend. Lets go with that.
Ditch Paypal (Score:1)
I had an account with Paypal since 2001 and closed it earlier this year permanently.
Given Paypal's commitment to ban people from donating to political causes it doesn't like, it's hostility towards groups like Wikileaks, etc, who wants to bet they'll have a wallet blacklist, on top of presumably reporting every single wallet transfer to help unmask identities?