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Customers will be able to buy, hold and sell cryptocurrency (initially Bitcoin, Ethereum, Bitcoin Cash and Litecoin) directly within the PayPal digital wallet. According to PayPal, there would be no service fees for buying or selling cryptocurrency until December 31, 2020, and no fees for holding cryptocurrency in a PayPal account.
PayPal will require users to keep purchased cryptocurrencies in their PayPal wallet without the ability to transfer them to other accounts. Retail payments made with Bitcoin, Ethereum and Litecoin by PayPal users are reportedly likely to double and reach $ 50 billion by the end of 2021.
