PayPal is embracing cryptocurrencies as a means of payment.
According to a report by Reuters, PayPal will announce on Tuesday that it has started allowing customers in the U.S. to use crypto for payments.
The launch has been confirmed to Reuters by PayPal President and CEO Dan Schulman.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” Schulman told Reuters.
More precisely, users will be able to pay using bitcoin, ether, bitcoin cash, and litecoin. The service will be available at all of PayPal's 29 million merchants "in the coming months." When making a purchase at a merchant that uses PayPal, users will be able to convert their crypto holdings into fiat currency at checkout — though it's unclear whether this will be automated or not. There will be no transaction fee at checkout, and users will only be able to use one type of coin per purchase. Read more...
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