PayPal offers Bitcoins
Payment provider PayPal enters the business with crypto currencies. US customers can buy on the platform soon Bitcoins.
PayPal offers Bitcoins
From the beginning of 2021 it should also be possible to pay merchants via PayPal with crypto currencies. It is planned to extend the offer to other countries in the coming year.
PayPal shares gained about three percent on Wall Street on the day of the announcement. And the new business also had a positive effect on Bitcoin: The currency is more valuable than it has been since July 2019. The price of the oldest and best-known crypto currency rose by eight percent to US$12,854.At the beginning of the week Bitcoin had cost approximately 11,500 dollar.
The payment provider PayPal enters into the business with crypto currencies. Customers in the USA can buy in the future ove r the PayPal platform Bitcoin and other Kryptowährungen buy, sell and it keep. PayPal communicated that on Wednesday.
“Today at the latest, the starting signal for a year-end rally should be given,” said Timo Emden, analyst at Emden Research. “For the industry, PayPal’s entry into the crypto business could have a signal effect for other companies, which have been brooding about the implementation of digital currencies for some time now.
Timo Emden, analyst at Emden Research, believes that a year-end rally should begin soon. He also suggests that PayPal’s entry into the cryptocurrency business could inspire other companies to follow suit.
PayPal wants to increase acceptance of crypto currencies
PayPal counts on the fact that the offer increases the world-wide use and acceptance of crypto currencies, as company boss Dan Schulman said. “We are working with central banks and are thinking about all forms of digital currency and what role PayPal can play.
PayPal competitors like Square and Robinhood Markets have been trading Bitcoins and other crypto currencies for quite some time. Experts assume however that the entrance of PayPal inspires the market. The California-based company has processed payments of 222 billion dollars in the second quarter alone and has 346 million accounts.
PayPal competitors, such as Square and Robinhood Markets, have been trading Bitcoins and other cryptocurrencies for quite some time. However, experts assume that the entrance of PayPal will inspire the market. The California-based company processed payments of $222 billion in the second quarter alone and has 346 million accounts.
1. Offer special discounts or promotions for customers who use Bitcoin as their payment method on PayPal.
2. Introduce a feature where PayPal users can automatically convert their funds into Bitcoin or other cryptocurrencies.
3. Partner with popular crypto exchanges to provide a seamless experience for purchasing and trading cryptocurrencies on the PayPal platform.
4. Offer educational resources for users who are new to the world of cryptocurrencies, including tutorials, guides, and webinars.
5. Develop a secure and user-friendly wallet for storing and managing cryptocurrencies on the PayPal platform.
6. Expand the range of cryptocurrencies available for purchase on PayPal beyond just Bitcoin.
7. Introduce a rewards program for customers who use cryptocurrencies on PayPal, such as earning cashback or other incentives.
8. Explore partnerships with merchants that accept cryptocurrencies to enable seamless transactions on the PayPal platform.
9. Develop a feature that allows users to automatically transfer their cryptocurrency earnings to their bank accounts or other payment methods.
10. Leverage PayPal’s existing fraud detection and prevention measures to ensure the security of cryptocurrency transactions on the platform.