PayPal is announcing a long-awaited feature for crypto, a feature that will bring 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
While PayPal has been allowing users in the US and UK to buy and sell cryptocurrencies for some time now, the platform is limited to bitcoin, ether, litecoin, and bitcoin cash. Another source of frustration for users was precisely the inability to transfer their funds to competing platforms such as Coinbase and MetaMask.
A feature that will offer users more flexibility
PayPal has taken a rather cautious and slow approach to crypto, but its CEO Dan Schulman now believes the industry will be critical in the coming years. And that position was recently reinforced in an interview with Decrypt by Fernandez da Ponte, VP of Blockchain and Cryptocurrency at PayPal. Despite the current difficult market situation, he is convinced that “a significant part of the trade will take place through digital currencies.”He also explained that PayPal does not charge for cryptocurrency transactions because it would undermine its usefulness as a payment method. “There is a lot of talk about this difficult time, but it is important to look beyond. The general trend [of global cryptocurrency adoption] remains unchanged.”
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 with cryptocurrencies, many solution providers are working to make this process as easy as possible. So much evidence that the world is gearing up for cryptocurrencies. And this is regardless of the current market trend.