PayPal supports sending and receiving of some virtual currencies such as Bitcoin
PayPal, an online payment service, has revealed that it has made it possible to send and receive four virtual currencies, 'Bitcoin', 'Bitcoin Cash', 'Ethereum' and 'Litecoin', between users and with exchanges.
Press Release: PayPal Users Can Now Transfer, Send, and Receive Bitcoin, Ethereum, Bitcoin Cash, and Litecoin
PayPal is finally allowing users to move their cryptocurrency to other wallets | TechCrunch
https://techcrunch.com/2022/06/07/paypal-is-finally-allowing-users-to-move-their-cryptocurrency-to-other-wallets/
Now that PayPal supports sending and receiving virtual currencies, it will be possible to transfer the four virtual currencies supported by PayPal from external exchanges to PayPal, and to send and receive between PayPal users. There are no fees or network charges for sending and receiving between users, but exchange fees may be incurred when sending to the outside.
An additional identity verification process has also been implemented to prevent transfers without your permission. Since June 7, 2022, PayPal's support for sending and receiving virtual currencies has been expanded only to users in the United States except Hawaii. We also plan to roll out additional cryptocurrencies and services within the coming months.
PayPal also supports holding, buying and selling virtual currencies in some countries, and in March 2021 it also revealed that it introduced 'Checkout with Crypto' that allows payment with virtual currencies.
'Checkout with Crypto' that PayPal can settle with virtual currency has started, and payment with Bitcoin and Ethereum is possible via PayPal --GIGAZINE
PayPal appealed that it was possible to change the conditional bit license required for activities such as running a virtual currency business in the state to an unconditional bit license, which was previously granted by the New York Financial Services Authority, 'PayPal Is the first company to convert a conditional bit license to a full bit license. Obtaining a license expands responsible innovation and accessibility and utility of cryptocurrencies while fully adhering to regulatory guidelines and best practices. Adding the ability to send and receive cryptocurrencies is our new step towards building a more comprehensive and effective financial system. '
Related Posts:
in Web Service, Posted by log1p_kr