[PayPal lets US users sell cryptocurrencies through MetaMask wallet]
PayPal further expands its digital asset services, adding new ways to sell cryptocurrencies such as Bitcoin.
On September 11, PayPal launched a new Web3 payment method that allows US users to directly convert cryptocurrency into US dollars and deposit it into their PayPal account. Official news revealed that this feature has been opened to wallets, decentralized applications and non-fungible token markets, and supports MetaMask.
The purpose of this feature is to facilitate US customers to buy and sell various cryptocurrencies.
PayPal said: "With the integration, Web3 merchants can expand their customer base by connecting to PayPal to provide a fast and smooth payment experience, while taking full advantage of PayPal's security and anti-fraud controls, as well as chargeback and dispute resolution tools."
A video promoting this feature on YouTube shows the interface operation. The user transfers 0.0015 BTC ($50), with a network fee of $5 and a transaction fee of $2.19. It’s worth noting that MetaMask does not support BTC transactions on the original Bitcoin blockchain.
This update comes on the heels of PayPal's partnership with hardware device wallet company Ledger in August 2023, when they launched a new integration that allowed verified U.S. PayPal users to purchase Bitcoin, Ethereum directly through Ledger Live coins, BCH and LTC.
It is worth mentioning that MetaMask will begin allowing U.S. users to purchase Ethereum through PayPal in May 2023, and MetaMask’s parent company ConsenSys and PayPal have cooperated as early as the end of 2022 to support Ethereum transactions.
