Bitcoin, Ethereum, Bitcoin Cash and Litecoin can use PayPal for crypro transactions officially. Coins are also available to pay for goods and services. PayPal’s actions lead to the new growth for Bitcoin. Now it costs more $59,000 per 1 BTC for the first time since March 20, 2021
PayPal users from the USA can use Bitcoin, Ethereum, Bitcoin Cash and Litecoin in the system. Cryptocoins have become a real instrument of currency transactions on the platform since March 30, 2021. Users will be able to freely exchange crypto for fiat after this innovation. New features will become available within a few months for nearly 30 million retail outlets that cooperate with PayPal.
This news is unprecedented because, until now, cryptocurrency hasn’t had equal rights compared to debit and credit cards.
PayPal will provide automatic conversion at the rate, which will help keep the volatility factor of cryptocurrencies under control. No transaction fees are expected. Also, there will be no combined transactions. (Each user will be able to use only one type of cryptocurrency within a single transaction.)
Changes to PayPal began half a year earlier, in mid-autumn 2020. Then US citizens were able to buy, sell and simply store cryptocurrencies on the platform’s accounts. The announcement of the future of access to goods and services, which has become a reality today, took place at the same time.
Bitcoin is growing again. Recently, there has been a sharp jump of +$1000. If this growth continues further, then we can expect an update of the all-time high on March 14, 2021: $61,800.Recall that Tesla allowed customers to buy their cars with Bitcoin. Only US residents can do this now, but the feature is promised to be made available to other countries during this year. At the same time, Tesla plans to store the Bitcoins received from buyers without conversion into fiat currencies.
