HomeUpdatePayPal intends to allow its users to transfer their cryptocurrency to third-party...

PayPal intends to allow its users to transfer their cryptocurrency to third-party crypto wallets.

-

We independently research, test, review, and recommend the best products—learn more about our process. If you buy something through our links, we may earn a commission. learn more

Last Updated on 06/06/2021 by Khushi

PayPal intends to allow its users to send cryptocurrency to third-party crypto wallets. The report was confirmed by a news portal Reuters. According to Da Ponte, Paytm aims to make it easier for its customers to withdraw cryptocurrency in the way they desire, which is why the company is aiming to introduce this feature. However, the company has yet to confirm a date for the rollout of this feature in PayPal.

Last year, PayPal surprised its consumers by adding a feature to allow its users to buy, sell, hold, and pay bills in the form of cryptocurrencies. By introducing this feature the online digital wallet promotes individuals to utilize their platform to pay bills at shops, restaurants, and other merchants using cryptocurrencies. According to Da Ponte, cryptocurrencies could make it easier for people living in rural areas to fulfill their financial needs. However, he also stated that cryptocurrencies still require a lot of improvement.

PayPal intends to allow its users to transfer their cryptocurrency to third-party crypto wallets. 1

Image Courtesy: Gadgets 360. 

It’s also been speculated that PayPal would create its own virtual currency soon, though the PayPal founders have yet to confirm this. By offering features for cryptocurrency users, PayPal intends to compete with other cryptocurrency platforms and become a significant digital wallet platform around the world. On the one hand, the feature provides numerous benefits to PayPal users who are buying, selling, or withdrawing cryptocurrency, however, utilizing PayPal to acquire cryptocurrency does not grant users ownership of the currency.

Khushi
Khushi
Khushi is an avid reader and loves analyzing companies in the digital space. Her interest is in online marketing, business, startups, and politics. She does everything perfectly by taking extra time.
- Advertisment -

Must Read

Data Science Drives Personalized Marketing and Customer Engagement to New Heights...

0
Personalized marketing and customer engagement are crucial for businesses to thrive in the current digital era. Because data science makes it possible for marketers...