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PayPal to allow cryptocurrency buying, selling and shopping


22 Oct 2020   #Bitcoin

PayPal Holdings Inc joined the cryptocurrency market on Wednesday, allowing customers to buy, sell and hold bitcoin and other virtual coins using the U.S. digital payments company’s online wallets. PayPal customers will also be able to use cryptocurrencies to shop at the 26 million merchants on its network starting in early 2021, the company said in a statement.

PayPal hopes the service will encourage global use of virtual coins and prepare its network for new digital currencies that may be developed by central banks and corporations, President and Chief Executive Dan Schulman said in an interview.

“We are working with central banks and thinking of all forms of digital currencies and how PayPal can play a role,” he said. U.S. account holders will be able to buy, sell and hold cryptocurrencies in their PayPal wallets over the coming weeks, the company said. It plans to expand to Venmo and some countries in the first half of 2021.

Other mainstream fintech companies, such as mobile payments provider Square Inc and stock trading app firm Robinhood Markets Inc, allow users to buy and sell cryptocurrencies, but PayPal’s launch is noteworthy given its vast reach.

Cryptocurrencies tend to be volatile, making them attractive to speculators, but a lot less appealing to merchants and shoppers. Transactions have been slower and more costly than other mainstream payment systems. Cryptocurrency payments on PayPal will be settled using fiat currencies, such as the U.S. dollar, meaning merchants will not receive payments in virtual coins, the company said.

PayPal, which has secured the first conditional cryptocurrency license from the New York State Department of Financial Services, will initially allow purchases of bitcoin and other cryptocurrencies called ethereum, bitcoin cash and litecoin, it said. It partners with Paxos Trust Company to offer the service.

Source


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 75.6% 41 $42 098.18 -3.78% -2.79% $792 647 747 198 $31 255 848 261
2 Ethereum (ETH) ETH Ethereum predictions 69.2% 55 $2 929.10 -5.31% -4.28% $344 776 996 910 $17 375 599 531
3 Tether (USDT) USDT Tether predictions 96% 1 $1.000360 0.04% 0.03% $68 567 748 968 $68 145 566 729
4 Cardano (ADA) ADA Cardano predictions 64.8% 70 $2.13 -4.16% -1.60% $68 342 556 564 $2 772 300 629
5 Binance Coin (BNB) BNB Binance Coin predictions 72.8% 59 $340.05 -2.66% -8.68% $57 174 896 989 $1 453 895 839
6 XRP (XRP) XRP XRP predictions 71.6% 50 $0.938176 -2.60% -1.10% $43 829 348 412 $2 741 251 966
7 Solana (SOL) SOL Solana predictions 64.8% 68 $135.72 -7.90% -4.56% $40 364 707 779 $2 586 556 062
8 USD Coin (USDC) USDC USD Coin predictions 90.8% 1 $1.000370 0.06% 0.02% $31 272 251 602 $3 236 353 928
9 Polkadot (DOT) DOT Polkadot predictions 68.4% 68 $27.94 -4.36% -5.91% $27 596 817 584 $1 527 139 483
10 Dogecoin (DOGE) DOGE Dogecoin predictions 68.8% 63 $0.201790 -2.23% -4.92% $26 530 096 140 $844 248 344
11 UniSwap (UNI) UNI UniSwap predictions 68% 68 $24.72 1.41% 15.89% $15 118 981 827 $1 169 207 809
12 Avalanche (AVAX) AVAX Avalanche predictions 58.4% 84 $66.71 -5.55% 4.62% $14 695 292 582 $1 112 779 061
13 Terra (LUNA) LUNA Terra predictions 68% 61 $35.63 -3.96% 23.38% $14 249 462 275 $1 572 224 921
14 Binance USD (BUSD) BUSD Binance USD predictions 93.2% 1 $1.000220 0.05% 0.01% $13 529 060 969 $4 713 979 833
15 Chainlink (LINK) LINK Chainlink predictions 65.6% 70 $23.69 -2.65% -1.52% $10 779 957 156 $1 061 112 948

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