PayPal has entered the world of cryptocurrencies, creating great anticipation as we approach 2021. Will the adoption of cryptocurrencies be driven? It’s a fact, from 2021 PayPal will be fully entering globalisation.
The commercialisation of cryptocurrencies makes it possible for its 277 million users worldwide to exchange these digital assets and will facilitate payment transactions at more than 26 million merchants affiliated to this online payment network.
This online payment company has enabled the marketing and all types of transactions, purchases and sales of products on the Internet since 1998. In fact, more and more online casinos are accepting PayPal as a payment method. This is a platform that is definitely committed to offering the best services to its users worldwide.
Buying and selling the 4 most popular cryptocurrencies
The PayPal cryptoservice began operations with the activation of the 4 most popular, most coveted and most stable cryptocurrencies on the market: Bitcoin, Bitcoin Cash, Litecoin and Ethereum. Better still, users will not have to pay any fees to hold these types of assets in their accounts, at least until 31 December this year.
To buy, sell and exchange these digital assets, PayPal users must access the App exclusively without needing to make any kind of currency transfer.
This has proved very useful, especially for users who, until now, have not had the opportunity to approach the world of virtual currencies through a platform as intuitive as the online payment company.
Although at the moment the crypto services offered by PayPal are restricted to users in the United States, it is estimated that by the second half of 2021 the platform will launch its expansion plan so that customers in Spain, Mexico and some Latin American countries will have access to this benefit.
The company’s decision to start operations and offer cryptocurrency assets only in the US is due to the company’s partnership with cryptocurrency giant Paxos Trust Company.
However, the new cryptocurrency service is only available to 10% of customers in the US, who can purchase digital coins worth between $10,000 and $15,000.
The benefits of crypto trading with PayPal
As expected, the company’s foray into the world of virtual currencies would, by any measure, be a vision that would greatly benefit the more than 200 million users who use the payment platform at more than 26 million merchants worldwide.
Among the first benefits PayPal offers to those who already have access to the cryptocurrency service is the ability to use their currencies without the need for an intermediary. This gives the company much more confidence and strength, at the same time as customers feel absolutely confident, as they are the ones managing their assets at their discretion.
Other benefits that the company will put in place to encourage the growth of exchanges among its customers will be to allow direct payment using cryptocurrencies in its affiliated businesses around the world.
Easy conversion of assets
To carry out this type of transaction, PayPal will perform the conversion in the background by transforming the virtual currencies available (Bitcoin, Bitcoin Cash, Litecoin and Ethereum) into fiat currencies. For the operation, the operator will set a conversion rate based on the value of the virtual asset at the time.
In fact, the payment platform will be responsible for continuing to give users the greatest facilities, it will be for those who use it as if they were paying directly in cryptocurrency, but it is clear that PayPal will be responsible for paying in euros, dollars, pounds or any other currency depending on the country.
These and other benefits of the payment operator’s cryptocurrency services are expected to begin in the early months of 2021. In addition, the company has promised that there will be no additional fees or integrations when currency conversions need to be performed for users to make a payment.
Another benefit of PayPal’s crypto service is that users can access educational content on how the so-called crypto-currency ecosystem works, to keep their customers informed of the potential risks, but also the great opportunities presented by the rapidly expanding world of crypto-currencies and blockchain technology.
This is the perfect time for those who want to dabble, experiment and learn about crypto-currencies as PayPal’s globalisation with crypto services gives customers a unique conjunction. PayPal which has a good reputation and the 4 strongest crypto-currencies on the market accepted worldwide, which are also in themselves a safeguarded digital currency system that allows millions of users to send value without an intermediary.
