Paypal launches Crypto Trading Service
Payments Giant Company Paypal announced the launch of it's crypto currency trading feature in October, 2020.
Today, Paypal announced that they have launched crypto trading in paypal for it's US users.
From now on US users can buy sell and hold crypto currency directly with Paypal
The company said in a brief statement,
We are pleased to announce that all eligible PayPal account holders in the U.S. can now buy, sell and hold crypto currency using PayPal
Originally Paypal had instituted a wait list for it's crypto currency features and experienced overwhelming demand from it's users.
Now, Paypal user's in the United States of America can use crypto currencies thru Paypal to buy things at any of it's 26 million merchants around the world.
However, those merchants won't receive crypto currency and paypal will convert their crypto to fiat
Additionally, It's not possible to move the crypto currencies out of paypal account either
Paypal will hold crypto currency on it's platform behalf of it's user's.
Paypal currently supports four crypto currency Bitcoin, Lite coin, Ethereum and Bitcoin Cash.
It plans to expand it's crypto features to Venmo and add international markets in the half of next year.
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