PayPal lets users shop with cryptocurrency2021-03-30 16:19 by Daniela
Tags: PayPal, cryptocurrency, Bitcoin
PayPal Holdings Inc. will start letting its U.S. customers purchase items with cryptocurrencies in the latest embrace of digital assets by a traditional payments player.
Starting today, the "Checkout with Crypto" feature will be gradually rolling out for customers in the US. For the first time, PayPal will accept Bitcoin, Litecoin, Ethereum, or Bitcoin Cash as a payment option for millions of businesses across the globe.
The feature works by converting the select cryptocurrency into US dollars—but with no additional transaction fee tacked on, according to PayPal. You'll just need agree to what conversation rate the company offers.
One point cryptocurrency users should keep in mind is that PayPal doesn't work with digital wallets. So those who already own some Bitcoin, for example, won't be able to transfer it to their PayPal account. They will need to buy Bitcoin via their PayPal account in order to use it for Checkout with Crypto. At the checkout, PayPal will check if the user has enough balance in cryptocurrency to pay for the items. If they do, it will present cryptocurrency as a payments option.
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