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September 30, 2014, 07:43:48 AM |
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Earlier this week, PayPal surprised Bitcoiners with the announcement that the online payments giant had partnered with BitPay, Coinbase, and GoCoin to integrate bitcoin payments into the PayPal Payments Hub. The Payments Hub is used exclusively for digital goods, and now, merchants have the option to easily start accepting bitcoin payments without significantly reworking their existing payment systems.
This announcement led to a short-lived surge in the bitcoin price, soon followed by another drop.
Since GoCoin also supports Litecoin and Dogecoin, PayPal Payments Hub users can now also accept LTC and DOGE. This caused a sharp jump in the Dogecoin price and a slight rise in the Litecoin price before dropping again. The longterm effects of PayPal’s continued interest in bitcoin are hard to predict, but many are optimistic about the partnership.
"We’re excited to continue building this relationship with PayPal, and look forward to helping develop a simple, seamless way for its customers to purchase digital goods with bitcoin.”
-Coinbase
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