Author: ENS Labs; Translation: Golden Finance xiaozou
Ethereum Name Service (ENS) is proud to announce a major milestone in the cryptocurrency space: users can now send and receive crypto using ENS names on Venmo, PayPal Mobile, and PayPal Web.
1. Use ENS to simplify crypto transactions
At the core of this feature is a shared vision: to simplify crypto transactions for everyone. With ENS now integrated into PayPal and Venmo, users can use ENS domains when transferring cryptocurrencies, making it easier to manage wallet addresses and reduce the risk of errors.
Here’s how it works: When initiating a crypto transfer, users simply enter their ENS domain name in the search box. PayPal and Venmo’s systems will automatically resolve the ENS domain name to a wallet address corresponding to the blockchain being used. This streamlined process ensures that users can confidently select the correct address to proceed with the transaction. Throughout the transfer process, the ENS domain name and the associated address are visible, making everything clear and guaranteed.
2. Introducing the address book function
In addition to ENS integration, PayPal and Venmo users can now access the new Address Book feature, which is designed to enhance the cryptocurrency transfer experience. Traditionally, transferring cryptocurrency requires manually entering or pasting a wallet address, or scanning a QR code. With the Address Book feature, users can save and call recently used addresses and store frequently interacted wallet addresses, all in one place.
The feature also integrates ENS, allowing users to save ENS domain names while saving traditional wallet addresses. Whether you are sending cryptocurrency to a friend or paying a business with cryptocurrency, the address book will remember your previous transactions, allowing for faster and more efficient transfers. Just like you rely on PayPal or Venmo contacts for internal transfers, you can now enjoy the same convenience when transferring cryptocurrency outward.
3. A new era of user-friendly encryption
ENS's integration with PayPal and Venmo is an important step in making cryptocurrency more accessible to the masses. By alleviating the reliance on complex wallet addresses, ENS enables users to focus on what is truly important - seamless and secure transactions.
As we continue to build a decentralized web, collaborations like this are critical to driving mainstream adoption. Whether you’re a seasoned crypto enthusiast or new to crypto, the new features integrated with ENS, PayPal, and Venmo will make your crypto experience as seamless as possible.
Stay tuned for more updates as we roll out this exciting feature across PayPal and Venmo. The crypto future is here, and the crypto world is more connected than ever.
