Cryptocurrency company Paxos and PayPal are launching a new service allowing users in the U.S. to buy, hold and sell cryptocurrencies. More countries are to come.
You’ll be able to connect to your PayPal account to buy and sell cryptocurrencies. PayPal will support Bitcoin, Ethereum, Bitcoin Cash and Litecoin in the beginning stages. Behind the scenes, Paxos will be taking care of trading and custody.
In early 2021, PayPal wants to include crypto assets as a funding source for your PayPal purchases. This could be a good way to use cryptocurrencies for everyday purchases without having to convert the cryptocurrencies.
PayPal’s crypto service is rolling out fast. You can head over to PayPal’s website and join the waitlist. Everyone should be able to access crypto-related features within the next month or so. PayPal has already updated its fees adding more details about cryptocurrency.