Buy and Sell Crypto with Paypal
PayPal has launched a new service enabling users to buy, hold and sell Cryptocurrency directly from their PayPal account, and signaled its plans to significantly increase cryptocurrency’s use by making it available as a payment method for its 26 million merchants worldwide.
Initially, Paypal will be offering Bitcoin, Ethereum, Bitcoin Cash and Litecoin, directly within the PayPal digital wallet. The service will initially be available to PayPal account holders in the U.S. but the company plans to expand the features to Venmo and select international markets in the first half of 2021.
PayPal will provide account holders with educational content to help them understand cryptocurrency and the blockchain, as well as the risks and opportunities related to investing in cryptocurrency, and information on blockchain technology. There are no service fees when buying or selling cryptocurrency through December 31, 2020, and there are no fees for holding cryptocurrency in a PayPal account.
Dan Schulman, president and CEO, PayPal said: “The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability for governments to disburse funds to citizens quickly.”
PayPal has remained at the forefront of the digital payment revolution for more than 20 years with more than 300 million consumers and merchants in more than 200 markets around the world. For more information, visit paypal.com.