PayPal integrates new methods for selling Bitcoin and other cryptocurrencies as it expands its digital asset services.
PayPal continues to extend its digital asset services, integrating new ways to sell Bitcoin and other cryptocurrencies.
On September 11, PayPal introduced new on and off routes for Web3 payments, enabling users in the United States to convert their cryptocurrencies to USD directly from their wallets into their PayPal balance.
The PayPal off ramp feature, which is live on MetaMask, is immediately accessible to wallets, decentralized applications, and nonfungible token (NFT) marketplaces.
Customers will be able to purchase and sell multiple cryptocurrencies in the United States thanks to the new on-off ramp features.
The YouTube promotion video for PayPal’s on and off ramps featured a screenshot of PayPal’s interface that allows users to send 0.0015 BTC ($50) to an external wallet for a $5 network fee and a $2.2 transaction fee.
The video didn’t specify what wallet was used for the transaction. Notably, MetaMask does not support Bitcoin transactions on the BTC blockchain.
The most recent rollout comes shortly after PayPal and Ledger, a leading provider of hardware wallets, partnered to offer a new on ramp integration in August 2023.
The integration enabled verified PayPal users in the United States to purchase Bitcoin, Ether, Bitcoin Cash, and Litecoin directly on the hardware wallet using native Ledger Live software.
In May 2023, as previously indicated, MetaMask began rolling out Ether purchases via PayPal for U.S. users.
ConsenSys, the parent company of MetaMask, and PayPal initially collaborated in late 2022 to enable ETH transactions.
