PayPal U.S. Customers Now Permitted to Use Crypto to Pay Merchants
PayPal giant to announce that its US customers to begin using cryptocurrencies for online payments to 26+ million merchants globally
PayPal users are also allowed to buy and sell crypto but only on the company’s network without withdrawing coins or holding private keys. Purchases and sales have been enabled by the Venmo app, owned by PayPal.
Paypal embracing cryptocurrencies was taken by the crypto community as another major milestone toward global crypto adoption. It’s also note worthy to mention that Bitcoin and other cryptocurrencies can only be bought, sold and stored only within the companies current crypto ecosystem.
Today, we are announcing the launch of Checkout with Crypto, a new way for PayPal customers to check out with #Cryptocurrency to pay for select online purchases. https://t.co/RbOe8aLtlz pic.twitter.com/zGWHgbwVlU
— PayPal (@PayPal) March 30, 2021
The New PayPal Crypto Check Out Service
PayPal CEO Dan Schulman has recorded a video tutorial that offers a step-by-step guide on how to use the company’s new cryptocurrency checkout service. PayPal CEO Schulman visited the website of Bronco Western Wear to purchase a pair of ostrich boots. He purchased those boots with his Bitcoin, at a cost of $299 USD.
He explained that crypto can now be used as a funding source.
Following the announcement, Bitcoin resumed its rally, coming close to revisiting the $60,000 level.
