Now, PayPal users would also be able to hold Bitcoins and other cryptocurrencies in their PayPal account to use the digital money to shop and undertake transactions across all the supported merchants.
PayPal Users Can Transact In Bitcoin Now
PayPal Holdings, one of the most widely used online payments services for global payments, has now opened its network for Bitcoin and other cryptocurrencies. PayPal is one of the most prominent names in the space and widely used by millions of users for shopping, payment exchange and much more. PayPal has a vast worldwide adoption that helps users to link their bank accounts and credit cards to their PayPal accounts.
Mass Adoption of Cryptocurrencies
The world is fast becoming more aware of digital currencies, and the mainstream firms are adopting Bitcoin and other cryptocurrencies for their financial transactions. The central banks across the world are also opening arms for Bitcoin. PayPal announcing integration and support for Bitcoin and other cryptocurrencies is indeed a giant leap forward. PayPal would enable its large user base to hold and transact in cryptocurrencies and this would help more and more people adopt alt money. The company feels that this step would promote the global use of Bitcoin and altcoins. As the governments also tweak their policies and legislations to adopt cryptocurrencies, the day is not far when Bitcoin may become a unified model of payment across nations.
Bullish Run for Bitcoin
Currently, Bitcoin is trading at an all-time high of above $12000, and experts are predicting a solid bullish run for the crypto token in the coming months. With PayPal coming forth to integrate Bitcoin in its online wallet, it would encourage more users to buy and hold the cryptocurrency creating an overall positive impact on bitcoin prices. PayPal, with its 346 million users across the globe, can be a game-changer in the crypto industry as it ventures with support for crypto-coins.
Paypal Can Be a Boon To Crypto Industry
The integration is a win-win situation for both Bitcoin and PayPal; while the bitcoin holders get access to millions of merchants across the world where they can utilize their tokens for real-life transactions, PayPal gets another currency which is rallying strongly in the market. The shares of the company were increased by 4% as the news broke.
Cryptocurrencies would get mainstream exposure and most likely gain a lot of credibility with popular financial companies like PayPal associating with them. The new interface powered by PayPal guarantee would help the users to gain trust in the cryptocurrencies as PayPal would manage the fluctuations in the token price.