PayPal enables US users to sell cryptocurrency via MetaMask wallet
Worldwide payment giant PayPal continues broadening its digital asset services, integrating brand-new methods to offer cryptocurrencies like Bitcoin (BTC). PayPal on Sept. 11 formally introduced new on and off ramps for Web3 payments, permitting users in the United States to transform their crypto to USD straight from their wallets into their PayPal balance.According to the announcement, PayPal exit ramp function is immediately readily available to wallets, decentralized applications and nonfungible token (NFT) marketplaces and is live on MetaMask.The new on exit ramp functions are developed to allow consumers to buy and sell numerous cryptocurrencies in the United States.” Once integrated, web3 merchants can help grow their user base by connecting to PayPals smooth and fast payments experience relied on by millions, while leveraging PayPals robust security controls and tools for scams management, chargebacks and disputes,” PayPal noted.PayPals on and off ramps promo video. Source: YouTubePayPals on and off ramps promotion video on YouTube included a screenshot from PayPals user interface permitting users to send 0.0015 BTC ($ 50) to an external wallet with a $5 network cost and a $2.2 transaction cost. The video didnt define what wallet was used as part of the transaction. Its worth noting that MetaMask doesnt support Bitcoin transactions on the initial BTC blockchain.PayPal did not right away react to Cointelegraphs demand for comment.Related: PayPals brand-new PYUSD stablecoin faces legal headwinds and less functionalityThe latest rollout comes soon after PayPal partnered with the major hardware wallet company Ledger to supply a new on ramp integration in August 2023. The combination permitted verified PayPal in the U.S. to buy Bitcoin, Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) straight on the hardware wallet through native Ledger Live software.As formerly mentioned, MetaMask began presenting Ether purchases via PayPal for users in the U.S. in May 2023. MetaMasks parent business ConsenSys and PayPal at first partnered to make it possible for ETH deals in late 2022. Magazine: Hodlers Digest, Sept. 3-9: Binances officer exodus, Nasdaq to trade AI orders and SBF loses bail appeal