August 4, 2021

PayPal will add the withdrawal of bitcoins to personal wallets

PayPal will add the withdrawal of bitcoins to personal wallets

Last year, PayPal caused a stir in crypto markets when it announced that millions of users could buy and sell bitcoins. This news, along with the company's recent decision to add bitcoin purchases to its Venmo service, has been seen as an important step in cryptocurrency adoption.

True, then skeptics stated that thisineffective, since PayPal users could only buy or sell bitcoins, but not transfer them. PayPal is now committed to solving this problem.

PayPal payment service will provide customersthe ability to withdraw cryptocurrencies to third-party wallets. This was announced by the Vice President and General Manager of Blockchain and Cryptocurrencies at PayPal Jose Fernandez da Ponte during the virtual conference Consensus 2021.

"We understand that these tokens will be more useful if they can be moved, so we are exploring how to allow people to transfer cryptocurrency to their PayPal addresses and withdraw it from them."

Inability to use cryptocurrencies foroutside the platform remains one of the main complaints from users about the service launched at the end of last year. Some question the usefulness of the assets acquired in this way, comparing them to IOUs.

“We want to make the service as open as possible andprovide consumers with a choice. They want to transfer cryptocurrency to us in order to be able to use it in commerce, and we want them to be able to transfer the cryptocurrency purchased through us to other points of their choice. ", - he said.

Fernandez da Ponte did not specify when it is possibleexpect the described opportunity to appear. PayPal partnered with Paxos to launch cryptocurrency trading late last year. American users have access to it. At the end of March, the company allowed customers to pay with cryptocurrency at points of sale cooperating with the platform.

Commenting on earlier information that PayPal is preparing to release its own stablecoin, Fernandez da Ponte said it was too early to talk about it.

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposit and withdrawal of funds in rubles, hryvnias, dollars and euros.

Site reliability is primarily determined bytrading volume and number of users. By all key metrics, Binance is the largest cryptocurrency exchange in the world. Binance is also the most popular cryptocurrency exchange in Russia and the CIS, since it has the largest turnover of funds and supports transfers in rubles from bank cards Visa / MasterCard and payment systems QIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

# Exchange: Website: Rating:
1 Binance (Editor's Choice) 9.7
2 Bybit 7.5
3 OKEx 7.1
4 Exmo 6.9
5 Huobi 6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

  • Work reliability - stability of access to all platform functions, including uninterrupted trading, deposit and withdrawal of funds, as well as the period of work on the market and the daily trading volume.
  • Commissions - the size of the commission for trading operations within the site and the withdrawal of assets.
  • Feedback and support - we analyze user reviews and the quality of technical support.
  • Convenience of the interface - we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
  • Platform features - availability of additional features - futures, options, staking, etc.
  • final grade - the average number of points for all indicators, determines the place in the rating.

PayPal will add the withdrawal of bitcoins to personal wallets


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