Late last year, the popular payment system Paypal announced that it would accept cryptocurrencies and started working. As of this week, the opportunity to pay with cryptocurrencies is coming to life in PayPal’s extensive ecosystem.
PayPal and cryptocurrencies
PayPal In his statement, he announced that cryptocurrencies will be accepted at all available payment points, limited to the USA. In the first place, Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) currencies will be used.
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PayPal gave the green light to cryptocurrencies, the market was mobilized
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PayPal has 29 million trading partners globally and will reportedly expand to all crypto payments in the coming months. When the user makes the payment in crypto money, the conversion will be performed by PayPal and the seller will receive the payment in his own currency.
PayPal and Paxos (PAX) cryptocurrency developer collaborates. In addition, a BitLicense operating license has been obtained from the US Securities Commission. So everything will proceed legally. On the other hand, PayPal’s Venmo mobile payment service will also host a BTC wallet.
PayPal’s blink of cryptocurrencies will undoubtedly stimulate the market. It is very important for those who already hold cryptocurrencies in their wallet to be able to shop without the need for an extra fiat currency.