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PayPal Now Lets Users Transfer Crypto to Other Wallets: Here's How

You can also transfer crypto from your other wallets into PayPal, and transfer crypto to other PayPal users.

PayPal logo
Sarah Tew/CNET

Online payments provider PayPal has begun allowing users to transfer their cryptocurrency balances to other wallets and exchanges.

It's been "one of the most requested" features since launching crypto on PayPal in March last year, PayPal's general manager of blockchain, crypto and digital currencies, Jose Fernandez da Ponte, said in a press release Tuesday.

Starting Tuesday and rolling out to US customers within the next few weeks, PayPal users will be able to transfer coins into PayPal, move crypto from PayPal to other crypto wallets and exchanges, and send crypto to other PayPal users.

PayPal accepts bitcoin, ethereum, bitcoin cash and litecoin.

How to transfer crypto from PayPal to another wallet or exchange

  1. Log in to PayPal.
  2. Enter the crypto section of the app.
  3. Choose the coin you want to transfer.
  4. Click the transfers button, which looks like two arrows moving in opposite directions.
  5. Select Send.
  6. Complete another ID verification process.
  7. You'll be given a choice of using a unique address or QR code to input into the other crypto app.
  8. Confirm the transfer.

PayPal says there will be a blockchain network fee, not charged by PayPal, involved in any transfers.

How to transfer crypto from another wallet or exchange to PayPal

  1. Log in to PayPal.
  2. Enter the crypto section of the app and choose which coin you're transferring.
  3. Click on the transfers button.
  4. Select Receive.
  5. Complete another ID verification process.
  6. You'll be given a choice of using a unique address or QR code to input into the other crypto app.

How to send or receive crypto with other PayPal users

  1. Log in to PayPal.
  2. Enter the crypto section of the app.
  3. Choose which coin to send.
  4. Click the transfers button.
  5. Select Send.
  6. Select which PayPal contact you want to send crypto to.
  7. Confirm the transfer.

Transferring crypto to another PayPal user doesn't have any fees.

Here's how to keep your crypto safe, the best bitcoin and crypto wallets and what you should know if you're investing in crypto.