In response to growing demand from customers and increasing competition, PayPal released a feature allowing users to transfer their crypto (including bitcoin) to external wallets. This is nearly two years after the fintech giant opened up its platform to digital currencies.

The feature will be available to select U.S. users starting on Tuesday and will be rolled out to all eligible U.S. customers in the coming months.

PayPal started allowing customers to buy, sell and hold bitcoin, ethereum, bitcoin cash and litecoin in October 2020. But users were not allowed to move crypto holdings off its platform earlier.

Since last year, the crypto market has seen a surge of investor interest with large venture investors, celebrities and blue-chip companies doubling down on crypto investments. However, the prices of such currencies have remained volatile, dimming their appeal as a hedge against infla

Customers will be responsible for external transfers’ network fees, but internal transfers have no fees. 

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