PayPal is finally offering a much-requested feature that allows users to transfer their crypto to external wallets.
New feature on PayPal
PayPal announced on Tuesday that their users can now withdraw their crypto tokens from the platform. This is a highly anticipated feature that will make the company increasingly competitive with other crypto companies.
As of today, PayPal supports the transfer of cryptocurrencies between PayPal and other wallets and exchanges.
– PayPal wrote in a statement.
The ability to perform external transactions on PayPal’s crypto platform will be rolled out to users today. In addition, it will be available to everyone in the United States within a week or two.
PayPal first offered crypto at the end of 2020. Back then, users could buy, sell and hold four different cryptocurrencies. These are Bitcoin, Ethereum, Bitcoin Cash and Litecoin. However, with these crypto coins they could not move money to external destinations such as MetaMask, Coinbase, Binance or hardware wallets.
The fact that users can now do this is important because PayPal is used by hundreds of millions of people around the world to transfer money. In addition, PayPal is increasingly used by merchants as a payment platform.