PayPal Now Supports Crypto Transfer To External Wallets

After almost two years of offering support for certain digital currencies on its platform, PayPal has made the announcement that it will now enable users to receive and transfer crypto like Bitcoin, Ethereum, Bitcoin Cash, and Litecoin between wallets and other exchanges. This will help select users in the United States to transfer cryptocurrency holdings from their PayPal accounts to external addresses such as hardware wallets and crypto exchanges. Within the next several weeks, the feature will be made accessible to all users in the United States. Since the company first started allowing users to purchase and trade cryptocurrencies, users have been asking for the new functionality to be included. Users were able to buy select cryptocurrencies in the past, but their usage was restricted to the PayPal platform, and they were unable to send to addresses outside of PayPal. According to a statement made by PayPal, this announcement reflects the continuing evolution of their best-in-class platform and enables customers to interact with the broader crypto ecosystem. Full New York Bitlicense Additionally, PayPal disclosed that it has been awarded a complete Bitlicense by the New York Department of Financial Services (NYDFS). Owing to the fact that the company only possessed a conditional Bitlicense, it was restricted in the kinds of virtual currency activities it could offer in the state of New York. Now that it has a full license, ...