PayPal To Let You Deposit Bitcoin And Other Cryptocurrencies In Your Wallet

paypal

LONDON (Reuters)-On Wednesday, PayPal Holdings Inc. PYPL.O said it will enable customers to keep bitcoin and other virtual coins in its online wallet and shop at the 26 million merchants on its network using cryptocurrencies.

How To Spot A Fake Tecno, Infinix And Itel Phones

The new service allows PayPal one of the largest U.S. corporations to have access to cryptocurrencies for customers, which may help Bitcoin and competing cryptocurrencies gain broader acceptance as viable methods of payment.

 

Akon Cryptocurrency Facts You Should Know

In an interview, President and Chief Executive Dan Schulman said the San Jose, California-based company hopes the service can promote the global use of virtual coins and prepare its network for new digital currencies that central banks and businesses will create.

We are working with central banks and thinking of all forms of digital currencies and how PayPal can play a role,” he said.

paypal

Over the coming weeks, U.S. account holders will be able to purchase, sell, and keep cryptocurrencies in their PayPal wallets, the company stated. In the first half of 2021, PayPal aims to extend the service to its peer-to-peer payment app, Venmo, and some other nations.

The New iPhone 12 – All You Need To Know About The $1,449 Phone

From early next year, the company said, the ability to make payments with cryptocurrencies would be accessible.

Other mainstream fintech firms, such as Square Inc. SQ. N, a mobile payment company, and Robinhood Markets Inc., a stock trading app firm, allow users to buy and sell cryptocurrencies, but the launch of PayPal is noteworthy given its scale.

Cryptocurrency Mining – Everything You Need To Know

The company has 346 million active accounts around the world and processed $222 billion in payments in the second quarter.

Online Money Lending In Ghana – 5 Apps For Easy Loans Access

paypal bitcoin

PayPal’s shares were up 4% at 1418 GMT, set for their best day in a month.

Bitcoin BTC = BTSP on the news reached its peak since July 2019. At $12,494 it was last up 4.8 percent, bringing returns above 75 percent for the year for the original and biggest cryptocurrency. The size of PayPal meant the move would be a plus for bitcoin prices, crypto-currency market players said. “Overall, the price effect would be positive,” said Joseph Edwards of Enigma Securities, a London crypto-currency brokerage. “There’s no comparison with regards to the potential exposure between the upside of PayPal offering this, and the upside of any similar previous offering.”

 

If you enjoyed this article on PayPal Now To Let You Deposit Bitcoin And Other Cryptocurrencies In Your Wallet  please share, subscribe to our newsletter, follow us on Facebook, Twitter, Google News, and  Instagram for more

Source: fifty7tech.com

 

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here