As Paypal announced in their press release, It now supports buy and sell cryptocurrencies to customers in the United States. The function is now available right from their Paypal account.
Paypal’s initial plan was to make cryptocurrency payments available in 26 merchants globally. The function is now also available in the Paypal app. There is a section mentioning the ability to buy and sell cryptocurrencies.
For now, it supports Bitcoin, Ethereum, Bitcoin Cash, and Litecoin only. Expecting more cryptocurrencies in the future.
In fact, Paypal is not the only financial company that supports cryptocurrencies. Square’s Cash app added support for Bitcoin in 2018. According to Paypal updates, in early 2021, they are planning to enable cryptocurrency payments to available Paypal merchants.
“Beginning in early 2021, PayPal customers will be able to use their cryptocurrency holdings as a funding source to pay at PayPal’s 26 million merchants around the globe.“