The giant company PayPal is seriously trying to become the next big crypto engine. They have announced in previous month that they have intention to offer crypto payments and to their users, what does this mean is that PayPal customers will be able to get their hands into the popular crypto coins such as Bitcoin, Ethereum and many more to pay directly from the PayPal website or app without having to make currency transfers.
PayPal plans to integrate the ability to buy, sell and manage cryptocurrencies in the USA in the first half of 2021, after that the cryptocurrency features will be implemented in the rest of the international markets where PayPal operates, they will be also implemented in the Venmo app as well.
The development of this feature will mostly depend on the regulations of each country.
PayPal will offer the following major crypto coins at the beginning of their new feature: Bitcoin, Ethereum, Litecoin and Bitcoin Cash. The positive thing about this company is that it will allow their users to manage their cryptocurrency coins in an absence of intermediaries. This crypto feature will allow users to pay directly in cryptocurrency to millions of business around the globe that accept PayPal as a payment method. Users will be able to pay with their crypto coins but in reality PayPal will make the payment in USD, EU, GBP or whatever is used in each country.
Without a doubt this feature will make the cryptocurrency use case to spike and it’s making the whole process much easier, but the main problem is still present and that is the cryptocurrency volatility but maybe with features like this one the stability of the major cryptocurrency coins can be improved and increased.
Either way, without a doubt PayPal is a huge influence with the upcoming crypto features for the movement towards the massive acceptance of Bitcoin and other crypto coins, we have seen how popular Coinbase have become and PayPal is the one of the largest in the payment processing industry.