PayPal is now Allowing All of its Customers to be Able to Withdraw Cryptocurrencies such as Bitcoin Directly

PayPal is really stepping up the game here when it comes to allowing the customers to be able to trade with the cryptocurrency, especially Bitcoin. Sometime earlier, the option of buying, trading, and even holding onto the crypto assets was made available, and it was an instant hit with the users. Treading into the same direction, PayPal has recently announced that the users will be able to take out their cryptocurrencies such as Bitcoin and others from their PayPal account in the form of withdrawing it for fiat money, along with the other intended features finally surfacing and being made available to the users in due time. 

The VP of global business development Jose Fernandez da Ponte did break the news at the 2021 annual conference of CoinDesk. The initial remarks that are put on this whole project are to be able to provide the customers with some sort of options and customized elements to look up to. It is like developing a single payment solution that has fiat money and digital money lying side to side, and it is up to users which one they want to use and how they want to do that. 

PayPal Seems Adamant about Bringing more Diverse Crypto-Related Options for the Users

The most promising feature of this update would be the interchangeable approach where you can change your crypto into fiat money, and the balance would show right away in your PayPal account and in the same way, you can convert your current fiat money into the cryptocurrency of your choice. It doesn’t get any more convenient and efficient than this. When asked if PayPal will be dropping its own digital token in the future, the VP responded that it is still way too early for that, but this is not a thought they are going to slide away for too long. 

The whole process is broken into chunks and sections that will be covered by a consistent set of upgrades that will make certain elements and features available to the users at a given time. More and more crypto options are coming soon, and to work with at the moment, Bitcoin will be made available to the users.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related

YouTube Crypto Influencers Fall Victim Of Scam

 In 2021, the crypto community witnessed a tremendous rise that also led to crypto fraudsters coming out in their numbers to prey on the users of the platform. Of late, several YouTubers that capitalize on crypto content creation reported that their accounts were hacked and noticed that fraudulent videos had been put up on their […]

Binance Boss Loses $14B Overnight In A Bloody Crypto Market Correction

Even though the crypto market has been declining since the beginning of the week, it culminated in a massive decline on January 21, with BTC now trading at a 6-month low of $35.35K. Crypto Price Correction And Dwindling Wealth For CZ As widely reported in various media, the price of crypto-related stocks has not been […]

Robinhood Trials A New Crypto Wallet Transfer Feature 

Popular trading platform, Robinhood, has launched the trial version of its crypto wallet feature that allows its users to perform crypto transactions outside the platform. Feature Only Available For Select Users However, this feature (WenWallets) is only available to 1,000 selected users. Part of the press release issued by Robinhood states that the firm intends […]

Crypto.Com Issues Official Statement Regarding Security Breach

On January 20, Crypto.com issued an official statement to share details of its losses during a recent breach of its security network. Nearly $34m Worth Of Digital Assets Were Stolen – Crypto.Com Part of the statement revealed that hackers stole “444.94 BTC, 4,836.27 ETH and about $66.3K worth of other digital assets” from its platform. […]

Intelligent Contracts Can Reshape Business 

Unlike in ancient times, when merchants relied on clay tablets to keep their agreements, today’s equivalents increasingly rely on blockchain contracts. They want to employ intelligent contracts, which are decentralized apps (DApps) stored on the blockchain as executable code and can be activated by any network user. Smart contracts, which Ethereum first introduced, currently enable […]