PayPal enables US customers to purchase goods with cryptocurrency

PayPal customers in the US with Bitcoin, Ethereum, Bitcoin Cash, or Litecoin can convert holdings to fiat @ checkouts in the US.

@anthony256
Published Tue, Mar 30 2021 5:30 AM CDT   |   Updated Mon, Apr 26 2021 9:11 PM CDT

Yesterday it was Visa announcing payment settlements using cryptocurrency and the newly-formed USD Coin, and today it is PayPal set to announce it is allowing US customers to use cryptocurrencies they hold to pay at 29 million merchants across the world.

PayPal enables US customers to purchase goods with cryptocurrency 10 | TweakTown.com

The news is coming directly from Reuters with an exclusive piece titled "PayPal launches crypto checkout service", with the outlet noting that this move could "significantly boost use of digital assets in everyday commerce". If you are based in the US and hold cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, or Litecoin in your PayPal digital wallet -- then you'll be able to convert that to fiat currencies at checkout, and then make your purchase like normal.

President and CEO Dan Schulman told Reuters: "This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet".

PayPal revealed the news that it would adopting cryptocurrency in a big way, but now the time is here and we're moving into the world of digital currencies faster and faster with each day that passes. Schulman added: "We think it is a transitional point where cryptocurrencies move from being predominantly an asset class that you buy, hold and or sell to now becoming a legitimate funding source to make transactions in the real-world at millions of merchants".

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NEWS SOURCE:reuters.com

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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