On Thursday the DMW announces it now accepts online cryptocurrency payment through PayPal as a measure to provide a wide and convenient service delivery to their customers.
This is positive step towards world adoption of btc although Paypal will get high profit by charging high fee and attraction of the crypto users want to spent through Paypal credit card. Paypal interest toward btc start from 2014 and from that's time until today Paypal announced so many times about crypto but at last now in 2023 opened the door for crypto lovers.
Those customers who will be paying I'm cryptocurrency will have to do so through PayPal with a service fee of $1 plus 1.83% of DMV total, asides PayPal fee that may apply for each transaction.
Why will someone pay high fee if there is already alternative available. Just sell crypto and convert into fiat and credit your Paypal and then use Colorado DMV. This high fee is making no sense here and only those will use who not much caring about fee.
If already btc is available for payment transaction without any extra charges then why need other payment mean? Colorado should think on it, If Paypal can accept crypto they could also do.
It is a great leap for PayPal to have delved into crypto business. Just as most browsers now have and include crypto wallet in their features, it goes to show how crypto is becoming a very familiar name world round. The U.S is one country that we see shortly going to adopt crypto currency because of the support most of its states have for it and the fact its sister country, Britain, has long approved crypto for payments and transaction, but under regulators watch.