Historic step from PayPal: Cryptocurrency payment period

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PayPal will allow US users to pay with Bitcoin, Ethereum, and Litecoin starting today. The online payment application has doubled its support for cryptocurrencies with this step.

Last November, PayPal, which offered US users the opportunity to directly buy and sell cryptocurrencies through their accounts, will offer users the freedom to instantly convert their cryptocurrencies to US dollars with its new “Pay with Crypto” feature.

PayPal increased its support for cryptocurrencies

If a user has “enough cryptocurrency balance to cover an eligible purchase” the feature will automatically appear in the PayPal wallet. You will also be able to see your crypto balance for any type of coin in the app. However, it is stated that only one type of cryptocurrency can be used for each purchase made.

PayPal is not the first payment app to offer cryptocurrency support. In 2018, his rival Square launched support for Bitcoin on the Cash App. The introduction of cryptocurrency as a form of payment can make PayPal both a major digital wallet and a forerunner of the cryptocurrency.

It is anticipated that this will make the cryptocurrency easier to use as a more common payment method. It should also be noted that the company reported on Investor Day last week that it had 377 million active accounts.

Cryptocurrencies continue to increase with the increasing interest, with the support of giants such as PayPal. Especially in recent days, the crypto money news of companies continues to come one after another.

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