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PayPal adds new crypto functionalities and allows transfers from wallets and exchanges

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PayPal began to support the native transfer of bitcoin, ethereum, bitcoin cash and litecoin to and from other wallets and exchanges. The new feature will only be available to users in the US.

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With this new feature, US Paypal users will be able to transfer supported coins to PayPal and transfer from PayPal to external wallet addresses, including exchanges and hardware wallets. Sending supported coins to other PayPal accounts will also be possible instantly and free of charge.

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Starting June 7th, a select few users will be able to use this new feature. After initial testing is completed, the rest of the US will have access to this feature in the coming weeks.

Cryptocurrency payments

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Recently, more and more companies are turning to payments in cryptocurrency. One of the most famous, Elon Musk’s Tesla and Space X, accepts payment in cryptocurrency. Investors are speculating that Musk could also add a cryptocurrency payment feature to Twitter.

One of the most recent moves in the cryptocurrency payments space has been made by online payment service provider checkout.com, which has launched an integration with USDC to allow merchants to accept or make payments. As merchants move to cryptocurrencies, they may be exempted from working hours restrictions when making payments. For now, this feature only supports USDC, but the company has said it will include more digital assets over time.

In April 2022, the American film company AMC Theaters announced the acceptance of payments in Dogecoin and Shiba Inu. The company’s original plan was also to accept bitcoin, ether, litecoin, and bitcoin cash.

Another major step towards crypto payments was taken by the Dogecoin team when they set their sights on becoming the “currency of the internet” as per the 2022 roadmap. The team is taking a hands-on approach to cryptocurrencies and working towards making Dogecoin a serious universal currency for the people.





Credit : cryptoslate.com

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