PayPal introduced cryptocurrency to its platform last October, allowing users to buy, sell and hold Bitcoin, Ethereum, Bitcoin Cash and Litecoin. Starting Tuesday, those who own some crypto can use it to shop.
“As the use of digital payments and digital currencies accelerates, the introduction of Checkout with Crypto continues our focus on driving mainstream adoption of cryptocurrencies while continuing to offer PayPal customers choice and flexibility in the ways they can pay using the PayPal wallet,” Dan Schulman, president and CEO, PayPal, said in a statement Tuesday. “Enabling cryptocurrencies to make purchases at businesses around the world is the next chapter in driving the ubiquity and mass acceptance of digital currencies.”
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Cut through the chatter
One point cryptocurrency users should keep in mind is that PayPal doesn’t work with digital wallets. So those who already own some Bitcoin, for example, won’t be able to transfer it to their PayPal account. They will need to buy Bitcoin via their PayPal account in order to use it for Checkout with Crypto.
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