Paypal and Venmo accept crypto! Following the announcement, the price of Bitcoin increases by approximately $ 1,000.
PayPal has announced that it will allow users to buy, sell and store cryptocurrencies. The crypto feature for virtual wallets will become available in the United States in the next weeks. Americans will be able to store and trade Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
From this year, users from several countries of PayPal and Venmo, the company’s peer-to-peer payment service, will also have the opportunity to shop with cryptocurrencies.
The transactions will be made on the basis of a partnership with Paxos and the traders will receive the equivalent in fiat currencies. In an interview quoted by Reuters, the CEO of PayPal said that the service will encourage the global use of virtual currencies and will prepare the network for the new digital currencies that central banks and companies can develop.
“We work with central banks and think about all forms of digital currency and how PayPal can play a role.”Dan Schulman