“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.