Paypal allows to pay with Bitcoin, Ethereum, and Litecoin for US users

Paypal Checkout with Crypto

Paypal announced today a launch of the Checkout with Crytpo feature on its platform. 

For US users, the cryptocurrencies like bitcoin, ethereum, and litecoin, is another way to pay and businesses to get paid. Notably, Paypal has around 26 million merchants worldwide. The Checkout with Crypto feature at Paypal brings additional utility for cryptocurrency holders in the US.

The Paypal wallet will display the Checkout with Crypto feature automatically provided the US user has sufficient cryptocurrency balance for the purchase, notes the announcement.

Executive Opinion

President and CEO, PayPal, Dan Schulman, said, "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. Enabling cryptocurrencies to make purchases at businesses around the world is the next chapter in driving the ubiquity and mass acceptance of digital currencies."

Paypal's Checkout with Crytpo feature

On October 21st, Paypal launched a crypto service allowing PayPal account holders to buy, hold, and sell cryptocurrency directly from their PayPal account. Paypal allowed eligible US account holders will able to buy, sell, and hold cryptocurrencies with Paypal. 

These users leveraging Checkout with Crypto can convert cryptocurrency holdings such as Bitcoin, Ethereum, Litecoin, or Bitcoin Cash to US dollars or fiat currency at checkout. Then Paypal uses US dollars or fiat currency to complete the transaction. Paypal also noted that there will not be any additional fees for cryptocurrency to fiat conversion at checkout. 

Use of only one type of cryptocurrency for each purchase is allowed, notes the announcement.

PC: Pixabay

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Mandar is a seasoned software professional for more than a decade. He is Cloud, AI, IoT, Blockchain and Fintech enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about the Cloud, AI, IoT, Blockchain and Fintech and the effects they will have economically and socially in the future.

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