PayPal will now allow all users in the United States to buy and sell cryptocurrencies

PayPal will now allow all users in the United States to buy, sell and hold cryptocurrencies directly from their PayPal account. The news came in an update to a press release last month announcing that the new feature was on the way (via TechCrunch).

I see the features available in the PayPal app. For me, there is a banner about the ability to buy cryptocurrency right at the top of the home screen, and if I tap it, I can choose to buy Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.

PayPal’s support for cryptocurrency is a significant vote of confidence in digital currencies and could encourage day-to-day users to adopt them. However, PayPal isn’t the first financial technology company to support cryptocurrencies; For example, the Square’s Cash app added support for Bitcoin in 2018.

PayPal plans to expand cryptocurrency capabilities in Venmo and “select international markets” in the first half of next year. And in early 2021, PayPal plans to allow you to pay PayPal merchants with cryptocurrency.