Prolly nothing... https://techcrunch.com/2022/06/07/p...o-move-their-cryptocurrency-to-other-wallets/ PayPal is finally allowing users to move their cryptocurrency to other wallets 'We're in this for the long term,' says exec Mary Ann Azevedo@bayareawriter / 8:36 AM PDT•June 7, 2022 Image Credits: PayPal In response to customer demand, PayPal announced today that its users will now be able to transfer cryptocurrency from their accounts to other wallets and exchanges. “This feature was the most demanded from our users since we began offering the purchase of crypto on our platform,” said Jose Fernandez da Ponte, SVP and general manager of blockchain, crypto and digital currencies at PayPal. The new functionality will allow PayPal customers to transfer supported coins into PayPal, move crypto from its app to external crypto addresses including exchanges and hardware wallets and send crypto to other PayPal users “in seconds.” Customers are responsible for network fees when they conduct external transfers, which depend on the blockchain and vary depending on the crypto asset. Internal transfers — PayPal to PayPal — have no fees. “If users have crypto somewhere else and want to consolidate, they can bring it to PayPal from external addresses,” Fernandez da Ponte. “They can also send crypto to anyone who is in the PayPal system.” PayPal gave its users the ability to buy, sell and hold crypto in October of 2020. Then, in late March of 2021, PayPal announced the launch of Checkout with Crypto, a feature that allowed consumers to check out at millions of online businesses using cryptocurrency. That feature expanded on PayPal’s current investments in the cryptocurrency market, which include its partnership with Paxos to power its service that allows customers to buy, sell and hold a range of cryptocurrencies and its acquisition of cryptocurrency security startup Curv. At Consensus last year, Fernandez da Ponte confirmed that offering its users the ability to transfer would be next. “This is a natural conversion for our users who want to do more with their digital assets,” Fernandez da Ponte told TechCrunch this week. “We see ourselves as a conduit between the fiat, or traditional finance, environment and the web3 environment. We are enabling connectivity to other wallets, exchanges and applications.” Giving its customers the ability to move their crypto assets — such as bitcoin, ethereum, bitcoin cash or litecoin — into, outside of and within PayPal is a move that the company could not avoid if it wanted to keep up with the continued crypto adoption and not be at risk for being viewed as behind the times in a fast-changing fintech landscape. And despite the recent turbulence in the crypto space, Fernandez da Ponte said that PayPal is moving in this direction “as people are [still] adopting cryptocurrencies.” “This move shows we’re in this for the long term,” Fernandez da Ponte added. “I think it’s important to stay the course and continue to invest in the space.” 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. PayPal was able to offer the new functionality after transitioning from a “conditional” BitLicense to a “full” one following approval from the New York Department of Financial Services. NYDFS Superintendent Adrienne Harris said in a statement: “DFS is committed to keeping New York at the center of responsible technological innovation and forward looking regulation.”
Apparently customers took the time to get educated. Without the ability to move your coins it's just another bank.
Paxos seems to be getting around. I had never heard of them before until IBKR started to partner up with them. Since Peterffy gave them the OK to trust the brokerage with them, I guess they can't be too bad.
PAXOS $ stablecoin got renamed to PAX Dollar USDP They also have a PAX Gold PAXG, which is pegged to gold, I'd trust it more than any paper gold out there, plus since it's a crypto asset, you can do all the nice stuff we do with cryptos, i.e. earn yield, use as collateral, transfer across vast distances https://coinmarketcap.com/currencies/pax-gold/
explain where the 'yield' comes from . who is paying it . and why "transfer across vast distances" you must be referring to the daily trip to Uranus that many crypto traders make.
How did you get started in becoming a troll? Were you recruited or just one of 'em sociopath assholes?
This isn't even news. I always said , they would trade encapsulated celeb farts if there was a market for it and they could front run the bid / ask ================================================================================= According to reports from Bloomberg News, Citadel Securities and Virtu Financial, Inc. (NASDAQ: VIRT) are building a cryptocurrency trading platform with help from brokerages Fidelity Investments and The Charles Schwab Corporation (NYSE: SCHW). While Citadel Securities and Virtu declined to comment, people familiar with the matter said the product is currently in its early development stage and could be available in late 2022 or early 2023. Mayura Hooper, a spokeswoman for The Charles Schwab Corporation, said the company will look to invest in firms and technologies in the cryptocurrency space with a strong regulatory focus and in a secure environment. While they don’t have plans to offer direct crypto trading at this point, Hooper mentioned they will consider introducing direct access to cryptocurrencies when there is further regulatory clarity. Ken Griffin, the founder of Citadel Securities, said the company plans to make markets in crypto, however, he didn’t mention a specific timeline. The news could have negative implications for crypto trading leader Coinbase (NASDAQ: COIN).
Does paypal charge for this? I know there is a charge to recieve money from another person. So if you buy bitcoin from paypal does it cost to move it to your own wallet?