PayPal To Accept Bitcoin, Other Crypto As Payment From Today
-PayPal will let US users pay with Bitcoin and other cryptocurrencies starting today
-This is coming after a feature that allowed US users to buy and sell cryptos from their account was launched in November 2020
-The payment company follows the step of Square’s Cash App that launched support for Bitcoin in 2018.
Less than 5 months after allowing users to buy and sell cryptocurrencies directly from their account, PayPal is showing further support to cryptocurrencies.
The payment company has launched a feature that will allow users to convert their Bitcoin, Ethereum, Litecoin to US dollars at no additional cost.
For merchants who don’t accept US dollars, the USD can be converted into other local currencies at the standard rate.
The “Checkout with Crypto” feature is only available to users in the US at the moment and it will appear when a user has sufficient balance to cover a purchase.
Users also have access to their total cryptocurrency balance on the dashboard and only one coin can be used for each purchase.
PayPal is not the first payment company to show strong support for cryptocurrencies.
In 2018, Square allowed support for Bitcoin on its platform, Cash App.
The support for cryptocurrency on PayPal’s platform makes it both a digital wallet and a cryptocurrency exchange.
Read also: Visa Inc. Now Accepting Crypto Payment
This development would be instrumental in the acceptance of cryptos as a payment method.
