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[News] PayPal Now Letting Users Trade Bitcoin and Ethereum, Paves Way For Crypto Retail Purchases

2020-10-22 03:41:25
454 17

Dear Mi Fan's Greetings
PayPal is launching support for U.S. customers to trade and hold cryptocurrency and to use it as a funding source for retail purchases. The payments processing company has expedited plans for global expansion as it looks to catch the first big wave of future digital public currencies.

Customers with PayPal-brand accounts will be able to buy, hold, and sell Bitcoin, Bitcoin Cash, Ethereum, and Litecoin to start with. The company is running a soft launch right now — interested readers can join the waitlist through the press release here. PayPal will not charge service fees through December 31.

U.S. accounts on its subsidiary app Venmo and PayPal customers in other countries will get a crack at using crypto in the first half of 2021. Also in early 2021, cryptocurrencies will be accepted as a funding source for real-world purchases though they will be converted into fiat currency prior to transaction. As such, merchants won't need to pay additional fees on sales for now, though it's uncertain whether that will be the case for any potential full-crypto sales later on.

PayPal has partnered with New York-based Paxos Trust to broker trades. It has also obtained a Bitlicense from the New York Department of Financial Services which mandated some of the company's operation parameters.

As of noon PDT, PYPL stock is up more than 5.6% while Bitcoin's value spiked more than 4% since the announcement.

Via ✝️ Don't Forget To Follow ▲Paddyman
2020-10-22 03:41:25
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Wizard Bunny

Mi-FE | from app


thanks for information
2020-10-22 03:47:37

Mi Rédacteur

arawak8 | from app


Thanks for the information
2020-10-22 05:19:05

great news !
2020-10-22 05:38:28
rojta coup
amaizing news
2020-10-22 05:39:09
rojta coup

Rookie Bunny

Brianna babe | from Redmi Note 8T


great news
2020-10-22 06:37:50

Master Bunny

Leonitis | from Redmi Note 9 Pro


Thanks for sharing, interesting article
2020-10-22 12:26:15

Master Bunny

heres_johnny | from Mi MIX 2S


thanks for sharing
2020-10-26 06:43:54
Yeah, I've already heard about this news. I think that it is great, but we should also check some rules for transactions and other operations with crypto. And of course, the main aspect is taxing for these transactions. I have some bitcoins after playing on and I was looking for a platform where to hold them. I'm searching for the best suggestion with convenient conditions. Maybe paypal could be this suitable platform for me. I need to try it. Did someone use it already? Please share if you have some experience.
2020-11-01 03:35:20
Invalid floor, the posts have been deleted #9
Very interesting news! In our world online wallet with cryptic currency, will soon be an everyday necessity.  We will go to the store not only with dollars or euros or any other currency. Everyone will have a few cryptov currencies, it can not be avoided!) And you could think about this 10 years ago? I think not!) No one could think about such a breakthrough !) The future is knocking at our door !))

2020-11-13 20:17:20
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