[ad_1]
Not only has bitcoin gained popularity during the crown crisis. The various payment service providers in particular can count on a successful year.
The winner here is above all the PayPal company, which has been able to satisfy the growing demand for digital and contactless payments.
The company processed payments of $ 247 billion in the third quarter of 2020, up 36% year-over-year, adding 15.2 million new customers.
PayPal is in Bitcoin fever
PayPal also announced on October 21 that the company will allow users to buy, hold and sell cryptocurrencies.
US customers can now buy and hold Bitcoin, Ethereum, and two other cryptocurrencies in their PayPal account. As of January 1, 2021, customers can use it to pay directly to 26 million merchants who use PayPal.
In a conversation with Dan Schulman, CEO of PayPal, the integration of Bitcoin was discussed and Co. Schulman said PayPal “is very interested” in offering this functionality.
Demand for Bitcoin and Co. higher than expected
The company also announced that interest in Bitcoin and other cryptocurrencies has exceeded the company’s expectations many times over. Therefore, PayPal has decided to increase the daily purchase limit from USD 10,000 to USD 15,000 at short notice.
“It was very high on their wish list,” Schulman said, adding that the waiting list for using Bitcoin and Co. was “two to three times our expectations.”
Choose the best and safest exchange for you
Choosing the right supplier isn’t always easy. Therefore, we recommend that you take a look at our Bitcoin Brokers and Exchanges Comparison. Trade the safest and best exchanges in the world! For comparison
PayPal will also integrate CBDCs
Regarding central bank digital currencies (CBDCs), Schulman said: “CBDCs … are a question of when and how, not if.” He expressed the belief that given the size of the platform, his company could add value to it to shape these currencies.
Although PayPal’s fourth quarter forecast is lower than originally assumed, the platform expects a transaction volume of nearly $ 1 trillion this year.
The integration of Bitcoin and Co. was not only long-awaited, but also celebrated by the entire crypto community. After the announcement, the price of Bitcoin rose by around 15%.
As the largest payment system in the world, the company could actually affect the usefulness of CBDCs in the future.
One small step for PayPal and one big step for BTC
However, many cryptocurrency industry experts have warned users about the centralized nature of PayPal. Users will not check their private keys, nor will they be able to withdraw Bitcoin and Co in external wallets or deposit cryptocurrencies from another address into their account.
These features are likely to arrive in the future. There has been no official statement so far. However, it is an important step towards mass adoption and even more legitimate Bitcoin.
75% of private CFD accounts lose money. No EU investor protection.
Source link
