Cryptocurrencies can now be transferred to third-party wallets and exchanges using PayPal. The feature is available for United States users and will be extended within the next few weeks.

The upcoming feature is one of the most requested updates since purchasing has been available for cryptocurrencies. Executives have been discussing transfer applications for years.

Press Release: PayPal Launches New Service Enabling Users to Buy, Hold and Sell Cryptocurrency - Oct 21, 2020 — **Image Sounds**

The capability of the transfer however will only apply to Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.

PayPal’s move carries weight for crypto markets with their 426 Million active users. Last year, PayPal offered the ability for United States customers to use crypto as a form of payment to merchants.

“We will continue to roll out additional crypto features, products, and services in the months ahead.”
Jose Fernandez da Ponte, general manager of blockchain, crypto and digital currencies at PayPal, said.

PayPal’s president, Dan Schulman, says that PayPal will expand into the use of central bank digital currencies and smart contracts. The PayPal revenue has stemmed from crypto purchases as of now, but the exact amount isn’t clear.

Uniic Media

PayPal will now offer users to Transfer…