PayPal Enables US Customers To Purchase Goods Using Their Crypto Holdings

PayPal has finally unveiled its new service that allows users to pay for goods using their crypto holdings with millions of online merchants.

The online payments company has finally added a new ‘Checkout with Crypto’ feature, which will be made available to US customers starting Tuesday. The latest service will allow PayPal users holding bitcoin, ethereum, litecoin, and bitcoin cash in the wallets to exchange their tokens for US dollars or other currencies to make purchases, with no transaction fees attached.

The latest service will be automatically enabled in user’s PayPal accounts, and the option will be made available to all 229 million of the fintech’s merchants. However, according to the company, customers are only allowed to use one type of cryptocurrency for each transaction. “This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” PayPal President and CEO Dan Schulman, told Reuters.

PayPal announced its support for cryptocurrencies back in October, when it said it will begin allowing the platform’s users to purchase, sell, and hold bitcoin, ethereum and other cryptocurrencies. With PayPal’s user base exceeding 377 million accounts globally, the announcement helped boost the ongoing crypto rally. News of the latest feature sent bitcoin prices higher to around $58,600, while ethereum rose to approximately $1,830.


Information for this briefing was found via Reuters. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Grayscale Bitcoin Trust ETF Bleeds $515 Million On Tuesday

Bitcoin’s value dropped below $39,000 for the first time in almost two months as Grayscale’s...

Wednesday, January 24, 2024, 07:40:56 AM

Canaccord’s Digital Asset Symposium Sees Michael Saylor Push Bitcoin As A Hedge Against Uncertainty

On February 15th, Canaccord Genuity hosted their fourth consecutive Digital Assets Symposium, which included a...

Sunday, February 27, 2022, 11:14:00 AM

Russians Ditch Ruble for Stablecoins as Sanctions Cripple Russia’s Currency

Russian citizens have been increasingly flocking to stablecoins in lieu of the ruble, as tough...

Monday, February 28, 2022, 05:10:00 PM

Cryptocurrency Crash Prompts UK Regulator to Issue Stark Warning to Retail Investors

Following what has been a record resurgence in Bitcoin amid an increased interest among large...

Tuesday, January 12, 2021, 10:41:00 AM

Is Bitcoin A Fraud? – The Daily Dive feat Jeff Wareham

Today on the Daily Dive, we’re joined by Jeff Wareham, whom is a director at...

Tuesday, December 15, 2020, 01:00:00 PM