PayPal created crypto checkout service!!

[Swopon]

Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said.

The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.

“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,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.

https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N

[Fundamentals Of]

The news recently are very encouraging. BNY Mellon, VISA, Paypal, etc. There must be an upcoming surge in the price of Bitcoin related to all these very bullish news. Well, it has already started right now. The price is already reacting, surging past $58,000 very quickly. $60,000 within the day is very possible.

At least Paypal's treatment of Bitcoin has improved because of this. Bitcoin (BTC), Etherum (ETH), and Litecoin (LTC) are now real currencies with this fresh Paypal decision.

[avikz]

Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said.

The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.

“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,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.

https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N

Another bitpay like service is in the making it seems! But considering the brand reputation and the merchant base, it can be a good move to push the crypto to another level higher in terma of mass adoption. So I will welcome thia move by Paypal especially after the mess they had created after enabling users to purchase cryptos from them.

Hopefully, they wouldn't come up with useless rules like they did last time and hopefully they would keep their fees low. Otherwise all will go into zapordy!

[Fundamentals Of]

Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said.

The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.

“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,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.

https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N

Another bitpay like service is in the making it seems! But considering the brand reputation and the merchant base, it can be a good move to push the crypto to another level higher in terma of mass adoption. So I will welcome thia move by Paypal especially after the mess they had created after enabling users to purchase cryptos from them.

Hopefully, they wouldn't come up with useless rules like they did last time and hopefully they would keep their fees low. Otherwise all will go into zapordy!

In fairness to Paypal, they didn't really made much of a mess the first time they introduced crypto on their system. It wasn't appreciated from the strong crypto supporters' end. It was even heavily criticized. But I don't think Paypal was thinking of the advanced crypto supporters at that time. They were thinking of the newbies in crypto. They were probably designing everything with the users who are unfamiliar with crypto in mind. In fact, they are also creating guides and information materials for their users the first time they introduced crypto. Right now is the second step.

[dihari]

Step by step paypal just let people entering the new era of cryptocurrency. Paypal just build a condition where there's no people in the world asking for 'what is bitcoin?" anytime soon.
Now don't let your hand out of buy button, price reaction is real.

[yazher]

This is a good thing man because Paypal connected to various MasterCard that is linked to the many countries in the world. We can now have access to this kind of service and this one is a trustworthy service that we can use. This is not just some alternative to some of the exchanges because they created this service for that purpose only. Paypal is doing their own service like what they have purpose last year and now we can finally try it.

[DatKing]

PayPal is really doing a great thing by helping the Bitcoin adoption. They were not very cool about Bitcoin before like many other companies etc. . But now, they are doing everything they can to be prepared for the future. And there is really a huge interest in Bitcoin among their users too.

[TedMosby]

So is it like a bitcoin payment gateway? Will the customers covers the network fees, plus paypal fees?
Or it’s only available for paypal users who already converted their fiat to bitcoin on their paypal app before?
Also, paypal is legally accepted in countries where cryptocurrecy was banned as a medium of transactions, how it will works?

Edited:
“Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies...”

[meanwords]

Also, paypal is legally accepted in countries where cryptocurrecy was banned as a medium of transactions, how it will works?

That's a bit of a concern. They will probably try to prohibit this service to countries that banned Bitcoin, like a separate app for a specific country. It's not like they can anything about it except to comply with the legalities. Nonetheless, it's a great news since they are actually making more ways for cryptocurrency to get recognize across different merchants.

[In the silence]

Were feeling the news now, starting to pump its engine and go $65,000!
Paypal is now 100% crypto supporter.

[BrewMaster]

it seems like they just added the missing part of the duo to their platform. they had the "buy bitcoin" part and now they have added the "sell bitcoin" part.
i am waiting for the day they add the most important part that a service such as this should have already had from start which is to let users withdraw the bitcoins they buy on Paypal and transfer it to their cold storage.

[Fesatmas]

The news recently are very encouraging. BNY Mellon, VISA, Paypal, etc. There must be an upcoming surge in the price of Bitcoin related to all these very bullish news. Well, it has already started right now. The price is already reacting, surging past $58,000 very quickly. $60,000 within the day is very possible.

and the fact has been proven since yesterday when VISA made its first adoption and made the first transaction, which gave a surge in bitcoin prices. so this is likely to be a large influx triggered by large adoption. however, we don't always have to see what VISA will do in the future. besides that, we must immediately prepare all bitcoin holdings with great care. considering that in the future bitcoin will be increasingly very complicated to predict. keep your hands on your bitcoins and look forward to $ 100K in sight.

[ivankoh]

The news recently are very encouraging. BNY Mellon, VISA, Paypal, etc. There must be an upcoming surge in the price of Bitcoin related to all these very bullish news. Well, it has already started right now. The price is already reacting, surging past $58,000 very quickly. $60,000 within the day is very possible.

At least Paypal's treatment of Bitcoin has improved because of this. Bitcoin (BTC), Etherum (ETH), and Litecoin (LTC) are now real currencies with this fresh Paypal decision.

Certainly those sounds good to drive value for this decision.  In it, they seem to decide to add Bitcoin Cash (BCH) to their payment method.  This is also something they cherished after discussing since 2020. I will continue to wait for Mastercard to announce its decision for the revolutionary new transformation we have always been waiting for.
https://cointelegraph.com/news/paypal-to-start-letting-us-customers-pay-in-bitcoin-at-global-merchants

[Findingnemo]

Paypal adoption is not actually a great thing happened to the crypto community because they try to create the centralized payment system even with the bitcoin and the only positive thing is more people will hear the name bitcoin due to paypal adoption. But people who really wanted to spend their cryptos for purchases will be happy about the news but who is going to spend it when everyone interested on holding?

[aysg76]

Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said.

The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.

“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,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.

https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N

They have just updated their previous crypto policies and now letting users convert their Bitcoin,BCH,Litecoin holdings in paypal wallet in exchange for fiat at the time of shopping with merchants just like Debit or credit cards.This is indeed good decision made by them which is surely going to boost btc adoption because paypal have one of the largest user base globally but I think this service is only available to US citizens at current which is not right.They are just following their competitors like Visa and MasterCard.They will hold the supply of Bitcoin which people will convert into fiat as they need to store btc as their assest reserve as they want profits in the long run.

[cabron]

It's good that they can covert their crypto to fiat now. Its not what crypto users really hope to happen but its still good for they could trade at least in their platform directly.

I don't think they will really allow users to withdraw BTC or LTC. Basically, this is sort of cheating the blockchain. They can add as many BTC they may like in PayPal but can't withdraw them.

[Rana590]

Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said.

The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.

“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,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.

https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N

But paypal isn't available in my country. Though bitcoin is not marked as legal currency in my country but it is available and other altcoin are also available. Then how we will take the benefits of PayPal's this feature?

[hatshepsut93]

Another bitpay like service is in the making it seems!

Not really, BitPay allows you to send them Bitcoin from your own wallet,  while PayPal only allows you to spend Bitcoin from PayPal wallet, which you can only obtain by buying it on their platform, as you can't even deposit your own Bitcoin.

[palle11]

Step by step paypal just let people entering the new era of cryptocurrency. Paypal just build a condition where there's no people in the world asking for 'what is bitcoin?" anytime soon.
Now don't let your hand out of buy button, price reaction is real.

And I came across with this token on PayPal
https://coinmarketcap.com/currencies/paypal-tokenized-stock-ftx/
Is already of high value, the bitcoin connection with PayPal is going to get us woken up with unimaginable spike soon.
Is really a bull for btc hodlers.

[Swopon]

But paypal isn't available in my country. Though bitcoin is not marked as legal currency in my country but it is available and other altcoin are also available. Then how we will take the benefits of PayPal's this feature?

If I am not wrong, you are from Bangladesh and I am also from that country. But there are many problems in Bangladesh as it is a developing country. Corruption is the main problem od such country. For the corrupted people, good work gets hampered all the time. PayPal is not supporting here and that's why many freelancer can't participate in all platforms through using it. We are deprived from many things and using PayPal is one of them.