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PayPal is finally allowing users to move their cryptocurrency to other wallets | TechCrunchtechcrunch.com/2022/06/07/paypal-is-finally-allowing-users-to-move-their-cryptocurrency-to-other-wallets
124 sats \ 5 comments \ @cryptocoin 7 Jun 2022 bitcoin
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12 sats \ 2 replies \ @k00b 7 Jun 2022
PayPal low key disgusts me.
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20 sats \ 1 reply \ @faithandcredit 7 Jun 2022
Yep. They censor people for speech. David Knight had his paypal account closed, and he is the most mature talk show host ive seen, no racism, bigotry, or anything just attempting to get to the truth as far as i can see and he has clever guests on all the time. Makes no sense.
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21 sats \ 0 replies \ @k00b 7 Jun 2022
I'm mostly traumatized by the UX and the rebrands over the years, but all the censorship and account freezing stories definitely don't help.
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0 sats \ 1 reply \ @cryptocoin OP 7 Jun 2022
“This feature was the most demanded from our users since we began offering the purchase of crypto on our platform."
Customers are responsible for network fees when they conduct external transfers, which depend on the blockchain and vary depending on the crypto asset.
“They can also send crypto to anyone who is in the PayPal system.”
The new functionality is only available to users in the U.S., and for security reasons, PayPal says it has implemented an additional identity verification process for users before they can transfer any crypto. The rollout will be a gradual one with select U.S. users being able to do so starting today, and with other “eligible” U.S. customers — those who complete the identity verification process — in the coming weeks.
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0 sats \ 0 replies \ @cryptocoin OP 7 Jun 2022
Bitcoin Magazine has an article as well now:
"The whole reason we're in crypto is because we believe a substantial portion of commerce is going to move to digital currencies.”
The focus on commerce, rather than operating as an exchange, allows PayPal to function without fees associated with bitcoin transactions. Rather than being a central exchange, PayPal looks toward evolving commerce using tools like Checkout With Crypto, which allows users to interact with millions of merchants worldwide using bitcoin.
PayPal Now Allows Bitcoin Transfers To External Wallets https://bitcoinmagazine.com/business/paypal-allows-bitcoin-crypto-transfers-to-external-wallets
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