Daily Management Review

PayPal introduces cryptocurrency payments


The international payment system PayPal will allow users to conduct transactions with cryptocurrencies.

"The Company introduces the possibility to buy, store and sell some cryptocurrencies - first Bitcoin, Ethereum, Bitcoin Cash and Litecoin - directly through PayPal's electronic wallet. The service will be available to owners of PayPal accounts in the US in the coming weeks," the company said in a statement.

In the first half of 2021, the ability to manage cryptocurrencies on the basis of the payment system will also be available in a number of other countries, said PayPal. In addition, around the same time the service will give customers the opportunity to use cryptocurrencies to pay for purchases in 26 million organizations around the world.

"In the past, the widespread use of cryptocurrencies was hampered by the limited scope of their use as an exchange tool due to the volatility, cost and speed of transfers. However, the prospect [of diffusion] of high-tech platforms makes it possible to actively introduce digital currencies," explains PayPal.

PayPal is the largest international debit electronic payment system which enables paying bills and make purchases, as well as send and receive money transfers.

source: cointelegraph.com