1. BITBILIHome
  2. Article

PayPal expands crypto support with MetaMask integration

• 137 views

TL;DR Breakdown

  • MetaMask and PayPal team up to offer seamless crypto-to-fiat conversions.
  • PayPal’s Web3 integration with MetaMask makes crypto transactions convenient to US customers.
  • With robust security features, PayPal aims to bridge the gap between traditional finance and crypto.

Description

PayPal has bolstered its support for cryptocurrencies, including Bitcoin (BTC). Effective September 11th, the global payment giant has rolled out on- and off-ramps for Web3 payments, ushering in a wave of possibilities for American customers. This latest enhancement empowers users to seamlessly convert their cryptocurrency holdings into fiat currency, depositing the funds directly into their … Read more

PayPal has bolstered its support for cryptocurrencies, including Bitcoin (BTC). Effective September 11th, the global payment giant has rolled out on- and off-ramps for Web3 payments, ushering in a wave of possibilities for American customers.

This latest enhancement empowers users to seamlessly convert their cryptocurrency holdings into fiat currency, depositing the funds directly into their PayPal accounts. Moreover, the Web3 ecosystem can utilize PayPal’s off-ramp, encompassing wallets, decentralized applications, and Non-fungible Tokens (NFT) markets. MetaMask is one of the first platforms to go live with this integration.

For consumers in the United States, this development unlocks a world of convenience, allowing them to buy and sell a variety of cryptocurrencies effortlessly. PayPal’s vision for this upgrade is crystal clear: to bridge the gap between the crypto world and traditional financial systems.

As PayPal succinctly puts it, “Once integrated, web3 merchants can help grow their user base by connecting to PayPal’s fast and seamless payments experience trusted by millions while leveraging PayPal’s robust security controls and tools for fraud management, chargebacks, and disputes.”

The move is underscored by a practical example – a user sending 0.0015 BTC (valued at $50) to an external wallet. The transaction incurs a $5 network charge and a $2.19 transaction cost, underscoring the functionality of PayPal’s on- and off-ramp capabilities. However, the specific wallet used in this exchange remains undisclosed, and it’s important to note that the original Bitcoin blockchain is incompatible with MetaMask BTC transactions.

Building on this momentum, PayPal continues to expand its reach. As of August 2023, verified PayPal users in the United States will have the unique opportunity to purchase Bitcoin, Ether, Bitcoin Cash (BCH), and Litecoin (LTC) directly onto a Ledger hardware wallet. This integration is facilitated through Ledger’s native software, Ledger Live, in partnership with the renowned hardware wallet manufacturer.

In May 2023, MetaMask enabled Ether transactions through PayPal for US-based users, following a partnership between ConsenSys, the brains behind MetaMask, and PayPal in late 2022.

PayPal’s strategic push into the Web3 and cryptocurrency space is gaining momentum. With user-friendly on- and off-ramps, secure transactions, and innovative partnerships, the financial landscape is evolving rapidly, bringing the world of digital assets closer to mainstream adoption.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:PayPal expands crypto support with MetaMask integration

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年9月13日 08:37
Next 2023年9月13日 09:58

Related articles

  • Attorney John Deaton stands firm on Ripple’s chances in SEC appeal

    TL;DR Breakdown Attorney and XRP supporter John Deaton is confident in the SEC’s appeal against Ripple, citing Judge Torres’s well-reasoned order as a strong foundation. Judge Torres categorized Ripple’s XRP sales into three groups and found substantial distinctions, impacting investors’ expectations. U.S. District Judge Jed Rakoff’s disagreement with Judge Torres’s approach in another case adds uncertainty to the pending appeal by the SEC. Description The famous attorney and avid XRP supporter, John Deaton, expresses confidence in the Securities and Exchange Commission (SEC) appeal against Ripple (XRP). He believes that Judge Analisa Torres’s well-reasoned order provides a solid foundation for a negative conclusion for the SEC. Citing a detailed thread that explains the judge’s decision, Deaton highlights the use of … Read more The famous attorney and avid XRP supporter, John Deaton, expresses confidence in the Securities and Exchange Commission (SEC) appeal against Ripple (XRP). He believes that Judge Analisa Torres’s well-reasoned order provides a solid foundation for a negative conclusion for the SEC. Citing a detailed thread that explains the judge’s decision, Deaton highlights the use of the Howey test…

    Article 2023年8月7日

  • Ethereum layer 2 scaling solution Base announces major onchain developments and initiatives

    TL;DR Breakdown Base, an Ethereum L2 scaling layer, will launch its mainnet on August 9, allowing app deployment and opening bridges for selected tokens. “Onchain Summer,” a month-long festival featuring art, music, gaming, and advocacy, will celebrate Base’s launch with collaboration from major brands. Base is offering 100+ ETH in grants for activities related to art creation, application building, and crypto legislation advocacy. Description Base, the Ethereum L2 (layer 2) scaling layer backed by Coinbase, has revealed an important milestone in its mission to bring more users and builders onchain. Also, Base declared that it has opened bridging for selected Ethereum assets and will launch its mainnet on August 9, offering unrestricted access for developers to deploy their applications … Read more Base, the Ethereum L2 (layer 2) scaling layer backed by Coinbase, has revealed an important milestone in its mission to bring more users and builders onchain. Also, Base declared that it has opened bridging for selected Ethereum assets and will launch its mainnet on August 9, offering unrestricted access for developers to deploy their applications on the platform….

    Article 2023年8月6日

  • Bybit obtains crypto exchange license in Cyprus

    TL;DR Breakdown Bybit secures license in Cyprus, expanding global presence and becoming a trusted platform in the Cyprus cryptocurrency market. Cyprus emerges as a thriving hub for crypto activities, attracting companies with favorable regulations and anticipation of the upcoming EU-wide framework. Bybit strategically positions itself amidst regulatory consolidation, demonstrating a commitment to compliance and security in the industry. Description Dubai-based crypto exchange Bybit has achieved a significant milestone by obtaining a license to operate a crypto exchange and offer custody services in Cyprus. This move comes after Bybit faced challenges in Japan and exited the Canadian and U.K. markets. Bybit’s commitment to regulatory compliance and dedication to robust frameworks have been key factors in … Read more Dubai-based crypto exchange Bybit has achieved a significant milestone by obtaining a license to operate a crypto exchange and offer custody services in Cyprus. This move comes after Bybit faced challenges in Japan and exited the Canadian and U.K. markets. Bybit’s commitment to regulatory compliance and dedication to robust frameworks have been key factors in this achievement. In a press release, the company’s…

    Article 2023年6月29日

  • Silvergate CEO’s mysterious exit amid fraud allegations

    TL;DR Breakdown Silvergate Capital, the parent company of Silvergate Bank, is undergoing significant changes as CEO Alan Lane and two other top executives prepare to step down from their positions.  Alan Lane and John Bonino, the chief legal officer, will be leaving their roles on August 15th, while Antonio Martino, the chief financial officer, is set to depart on September 30th. The company and Alan Lane are facing several proposed lawsuits, many of which center around the Company’s alleged involvement in the misconduct of the cryptocurrency exchange FTX. Description Silvergate Capital, the parent company of Silvergate Bank, is undergoing significant changes as CEO Alan Lane and two other top executives prepare to step down from their positions. This comes as part of the company’s plan to wind down operations and voluntarily liquidate Silvergate Bank, which was once known for its crypto-friendly stance. Alan Lane … Read more Silvergate Capital, the parent company of Silvergate Bank, is undergoing significant changes as CEO Alan Lane and two other top executives prepare to step down from their positions. This comes as part of…

    Article 2023年8月16日

  • Crypto industry exposed as major source of tax evasion

    TL;DR Breakdown Members of the US Congress have written a letter to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel, urging the implementation of tax regulations for the cryptocurrency industry. Earlier in May, the Biden administration proposed a 30% Digital Asset Mining Energy (DAME) tax on bitcoin miners. Congressmen Sherman and Lynch’s letter highlights the pressing need to regulate the industry and enforce tax compliance. Members of the United States Congress, Brad Sherman, and Stephen Lynch have written a letter to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel, urging the implementation of tax regulations for the cryptocurrency industry. Sherman and Lynch expressed concerns about the widespread tax evasion within the crypto sector, referring to it as a significant contributor to the country’s tax gap. In their letter, the congressmen referenced an audit report from September 2020, conducted by the Treasury Inspector General for Tax Administration (TIGTA), which highlighted the IRS’s failure to identify taxpayers involved in cryptocurrency transactions due to a lack of reporting. They emphasized that despite the passage of the Bipartisan Infrastructure Bill in November…

    Article 2023年6月11日
TOP