DUBAI: Bitcoin, the leading cryptocurrency internationally, traded higher on Wednesday, rising by 1.83 percent to $30,414.07 as of 6 p.m. Riyadh time.
Ethereum, the second most traded cryptocurrency, was priced at $1,801.40 up by 0.57 percent, according to data from CoinDesk.
External wallets
It has been nearly two years since PayPal Holdings Inc. opened its platform to digital currencies, but the company is now allowing users to transfer cryptocurrencies including Bitcoin to external wallets, Reuters reported on Tuesday.
In the coming months, the California-based company plans to offer the feature to all eligible US users.
Since October 2020, PayPal customers have been able to buy, sell, and hold Bitcoin, ethereum, Bitcoin cash, and litecoin. However, users were not allowed to move crypto holdings off its platform.
Since last year, large venture funds, celebrities and blue-chip companies have stepped up their crypto investments. The volatility of such currencies, however, has dimmed their appeal as inflation hedges.
