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Crypto Withdraw Option Soon to Launch on PayPal

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  • PayPal will soon add a withdraw feature and let users withdraw crypto.
  • Customers who have crypto can transfer to the destination of their choice.

According to CoinDesk, PayPal will soon add a withdrawal feature. Besides, it plans to let users withdraw crypto. Therefore, customers who have crypto in their accounts can also transfer to the destination of their choice.

On May 24, 2021, at CoinDesk’s Consensus 2021 conference, Jose Fernandez da Ponte told the moderator that a withdrawal function is at work.

As for now, the PayPal service only allows customers to convert crypto to fiat for purchases at checkouts. Also, it enables customers holding BTC, ETH, BTC Cash, and LTC in PayPal digital wallets to pay with them in place of fiat.

PayPal Head of Blockchain Services Jose Fernandez da Ponte said the following:

“We want to make it as open as possible, and we want to give a choice to our consumers, something that will let them pay in any way they want to pay. ” 

“They want to bring their crypto to us to use it in commerce, and we want them to take the crypto they acquired with us and take it to the destination of their choice,“ he added. Further, the participants asked whether PayPal will have its own stablecoin. da Ponte said: “it is way too early for PayPal to offer its own stablecoin.”

In March, PayPal CEO Dan Schulman recorded a video testing its new crypto feature. He offers a step-by-step guide on how the company’s new checkout service works.





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