For a long time, cryptocurrency enthusiasts have been waiting for PayPal to fully embrace cryptocurrency payments. And finally, the time has come. PayPal has announced that it will support cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.

With this news, many people are now excited to send and receive crypto through PayPal. It is a significant milestone for cryptocurrencies, as it brings them even closer to mainstream adoption. However, the process of sending and receiving cryptocurrencies on PayPal is not straightforward. But don’t worry, we will guide you through it!

Here’s how to (finally) send and receive crypto on PayPal:

Sending Crypto on PayPal

1. Open your PayPal App

The first step is to open your PayPal app. If you haven’t downloaded it yet, you can get it from Google Play or the Apple App Store.

2. Go to “Crypto”

After opening the app, navigate to the “Crypto” section. You can access this by swiping down on the home screen or scrolling the list of options at the bottom of the screen.

3. Choose the cryptocurrency you want to send

Once in the “Crypto” section, select the cryptocurrency you want to send. PayPal currently supports Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC).

4. Enter the recipient’s address

Enter the recipient’s cryptocurrency address. Ensure that the address is correct, as crypto transactions are irreversible.

5. Enter the amount

Enter the amount of cryptocurrency you want to send. PayPal will show you the total amount, including any fees.

6. Preview your transaction

Preview your transaction to ensure that everything is correct. You can also review the fee for the transaction at this stage.

7. Confirm your transaction

Finally, confirm your transaction. PayPal will deduct the cryptocurrency from your wallet and send it to the recipient.

Receiving Crypto on PayPal

1. Open your PayPal App

Again, the first step is to open your PayPal app.

2. Go to “Crypto”

Navigate to the “Crypto” section of the app.

3. Choose the cryptocurrency you want to receive

Select the cryptocurrency you want to receive. You can choose from Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC).

4. Find your cryptocurrency address

In the “Crypto” section of the app, you will see your cryptocurrency wallet. Select the “Receive” option or section, and you will see your address.

5. Share your crypto address

Share your cryptocurrency address with the person who wants to send you the crypto. You can do this by copying the address and sending it via a chat or email.

6. Wait for the transaction to complete

Once someone sends you the crypto, it may take a while for the transaction to be confirmed on the blockchain. You can view the status of the transaction in the “Crypto” section of the PayPal app.

Conclusion

PayPal’s support for cryptocurrency is a game-changer for the industry. With over 350 million users, it brings crypto even closer to mainstream adoption. Although the process of sending and receiving cryptocurrency on PayPal may seem complicated, it is relatively easy once you get the hang of it. So, start sending and receiving crypto on PayPal today!