The Online payment giant Paypal has announced that PayPal users in the U.S. can buy, sell and hold select Cryptocurrencies directly through PayPal using their Cash or Cash Plus account.
Users will be able to learn about Crypto, track crypto prices, all without leaving the PayPal app. they also plan to introduce this service to Venmo this year.
The online payment giant also announced that it will enable Cryptocurrency as a funding source for purchases this year, allowing users to use their Cryptocurrency holdings to make purchases at its network of more than 26 million merchants. Once this is launched, consumer’s can select Cryptocurrency as their funding source, the Cryptocurrency will be instantly converted to fiat currency and the transaction will be settled with the PayPal merchants in fiat currency.
When this is lunched, PayPal said they will be supporting only four Cryptocurrencies in the likes of Bitcoin, Ethereum, Litecoin, and Bitcoin Cash for Customers in the U.S. (except Hawaii).
In case you do know, PayPal has nearly 350 million users who will now have the access to easily buy, store, and use Bitcoin, Ethereum, Litecoin, and Bitcoin Cash with their other payment app Venmo which has 40 million active accounts. Do the Math.
Now the question many people are asking is when is it coming to Europe, Asia, or Africa?