Cryptocurrencies are becoming increasingly important in the world of online payment. A few weeks ago, Elon Musk announced that it was indeed possible to purchase Tesla using bitcoins, and now PayPal has announced the release of payments that it had already confirmed a few months ago that it would list them.
Starting today, users in the US will be able to pay with PayPal with Bitcoin, Ethereum, Litecoin and Bitcoin Cash. Until now, it was possible to buy and sell cryptocurrencies directly from the Paypal account, but they could not be used to buy online. Now, the platform will allow payments to be made in cryptocurrencies.
Consequently, an option called "Checkout with Crypto" will now appear, where users can instantly convert their cryptocurrencies into dollars without additional transaction costs. If paying in a currency other than dollars, PayPal will use its own exchange rate, at which it charges a percentage.
The cryptocurrency payment function will automatically appear in the user's account if the wallet has enough PayPal balance to cover the purchase that will be made. Additionally, you will be able to see the balances of the different cryptocurrencies available, although only one can be used per transaction and you will not be able to mix the different cryptocurrencies. At the moment they have not announced how long it will take to launch in other countries.
Paypal has 377 million active accounts, so the fact that it is betting on cryptocurrencies as a convenient way to pay on the platform shows the maturity it has reached. Coinciding with this announcement, the cryptocurrency market rallied, as Bitcoin once again crossed $ 59,000, and Ethereum topped the $ 1,840 cap.
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