PayPal to let users withdraw bitcoin

Payment giant PayPal announced to let users withdraw supported crypto from their platform

PayPal and Venmo user's will be able to withdraw their purchased crypto to other wallets or platforms soon

Last year PayPal announced to support crypto currency purchase and allowed investors to hold them in its platform

After paypals announcement it grained a lot of attention from retail investors and the media 

PayPal also decided to add bitcoin to it's balance sheet and provide venmo support for purchasing bitcoin

Although it was a major step in the right direction for crypto adoption it received a lot of criticism for not letting users withdraw their crypto

Skeptics said PayPal was selling fake bitcoin as it didn't let user's to withdraw their bitcoin 

PayPal now set to address this issue and  add third party support for wallet transfers

It will let PayPal users to send out their bitcoin and other crypto to wallets like coinbase or exchange like binance

Currently PayPal relies on blockchain infrastructure project Paxos to handle its bitcoin and crypto transactions 

PayPal plans to partner with other platforms and blockchain companies to allow third party transfers