PayPal now accepts cryptocurrency payments

PayPal now accepts cryptocurrency payments

PayPal, an online payment platform, announced today that it has integrated cryptocurrency into its payment structure. Now, only US users can buy and sell digital currency directly through the “Checkout with Crypto” service. Following the implementation of the new PayPal function, the price of Bitcoin today exceeds 000 59,000.

PayPal service allows you to instantly convert digital currencies such as Bitcoin, Ethereum, Litcoin or Bitcoin cash into US Dollars. No transaction fee will be used to use the new function.

This is the first time you have used cryptocurrency like a credit or debit card with your wallet.PayPal CEO Dan Schulman said.

The online payment platform aims to expand the new service to its 29 million merchants on its US network in the coming months. PayPal also plans to launch the service outside US borders this year. The UK is the first country to be affected, and PayPal’s tariff offer is available ” In a few months “, According to the US company.

PayPal has partnered with Boxo Crypto Broker to launch its new payment service. It is a solution developed by Blockchain, a financial institution that specializes in the Boxos Trust, which allows users to integrate the capabilities of buying, selling, holding and sending cryptocurrencies.

Within a week, PayPal’s Checkout with Crypto announced that it had accepted payments from automaker Tesla Bitcoin. In addition, on March 29, Visa, a US company that specializes in payment methods, said it was ready to authorize transactions using cryptocurrency. However, only the USD currency, the digital currency, is stable and is accepted in conjunction with the US dollar.

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Mariam Ben Yahya

On 3/30/2021 3:10:13 pm

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Cory Weinberg

About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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