PayPal Lets Users Transfer Bitcoin and Ethereum To External Wallets

PayPal announced on Tuesday that the service now "supports the native transfer of cryptocurrencies between PayPal and other wallets and exchanges." Decrypt reports: The ability to conduct external transfers on PayPal's crypto platform, an image of which can be seen below, will start rolling out to users today and be available to everyone in the U.S. in the next week or two. PayPal first launched its crypto offering in late 2020, allowing users to buy, sell, and hold four cryptocurrencies -- Bitcoin, Ethereum, Bitcoin Cash, and Litecoin -- but not to move the funds to external destinations like MetaMask, Coinbase, or hardware wallets. The fact users now can do this is significant because PayPal, which also owns the popular app Venmo, is used by hundreds of millions of people across the world to move money, and is increasingly used by merchants as a payment platform. It's also notable that PayPal is not backing off its ambitious crypto plans despite a financial downturn that's seen the company's share price get battered in recent months.

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