PayPal now lets users pay with crypto

Yesterday it was Visa piloting settlements via crypto, and today it is PayPal. The payments giant is launching Checkout with Crypto, and Bitcoin has risen on this news.

PayPal offers checkout services for 29 million merchants.

The company already allowed US users to buy and sell cryptocurrencies directly from their account, but now the company will let these users pay for goods and services with several types of crypto — including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

This new feature is rolling out today, and will automatically appear in the PayPal wallet if a user has a sufficient cryptocurrency balance to cover an eligible purchase.

Users will be able to see their crypto balances for each kind of coin in the app, though it will only be possible to use one type of cryptocurrency for each purchase they make.

They will be allowed to instantly convert their Bitcoin, Ethereum, Litecoin, or Bitcoin Cash to US dollars, without any additional transaction fees. PayPal will then use it to complete the transaction.

This follows up from the big development last November, where the company rolled out the ability for users in the United States to directly buy and sell cryptocurrency directly from their accounts. Both are a way for the company to push crypto further mainstream.

Comes as no surprise, seeing the investments PayPal has been making in the crypto space.

But this is a very positive development, and will be a massive help in pushing crypto further mainstream.


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