PayPal Unveils Long-Awaited Crypto Feature

PayPal Unveils Long-Awaited Crypto Feature

PayPal announces a long-awaited feature for cryptos, a feature that will provide more flexibility to users.

PayPal continues to prepare its crypto offer and will now allow users to move their digital assets to other wallets and exchanges. An important feature that will give customers more flexibility when sending cryptocurrencies to their relatives and friends.

PayPal Announces Long-Awaited Crypto Feature

Although PayPal has been allowing users in the US and UK to buy and sell crypto for some time, the platform is limited to Bitcoin, Ether, Litecoin, and Bitcoin Cash. Another source of frustration for users was precisely not being able to transfer their funds to competing platforms like Coinbase and MetaMask.

A feature that will offer more flexibility to users

PayPal has taken a rather cautious, and slow, approach to cryptos, but its CEO, Dan Schulman, now believes this industry will be crucial in the years to come. And this position was reinforced recently in an interview for Decrypt given by PayPal’s vice president in charge of blockchain and crypto, Fernandez da Ponte. Despite the current difficult market situation, he is convinced that “a substantial part of trade will take place through digital currencies”. He also explained that PayPal does not charge for crypto transactions because that would undermine its usefulness as a payment method. “There is a lot of talk about this difficult time, but it’s important to look beyond it. The general trend [quant à l’adoption mondiale des cryptos] remains intact.”

Despite the collapse in the value of Bitcoin in recent months, countries are taking steps to legalize these virtual currencies. Brands, especially in the luxury industry, allow their customers to pay via crypto, many solution providers are working to simplify the process as much as possible. So much proof that the world is preparing for cryptos. And that regardless of the current market trend.

Rachel Maga
Rachel Maga is a technology journalist currently working at Globe Live Media agency. She has been in the Technology Journalism field for over 5 years now. Her life's biggest milestone is the inside tour of Tesla Industries, which was gifted to her by the legend Elon Musk himself.