PayPal announced that users will be able to transfer digital coins from their accounts to other wallets and exchanges immediately, allowing the payment service to become a larger part of the cryptocurrency trade.
As of today, PayPal supports native cryptocurrency transfers between PayPal and other wallets and exchanges. This has been the most requested feature by our users since we began providing crypto purchases on our platform, said Jose Fernandez da Ponte, SVP and general manager of blockchain, crypto, and digital currencies at PayPal, in a statement on Tuesday.
According to the company, the latest functionality will permit PayPal customers to directly transfer supported coins into PayPal and shift cryptocurrency from its app to external addresses such as exchanges and hardware wallets.
Customers will be liable for network fees when conducting external transfers, depending on the blockchain and crypto-asset used, according to PayPal. Internal transfers from PayPal to PayPal accounts are free of charge.
