All U.S. residents can now buy, sell and hold Crptos directly from their PayPal account, according to the latest report.
A few weeks ago, YomiProf announced PayPal's plan to offer its users the ability to buy, sell, and hold cryptocurrency directly from their PayPal account starting early next year. It seems PayPal couldn't wait any longer for next year.
According to PayPal, the feature is now available to all US PayPal owners due to high demand. This is what it looks like, as shown in the image below when you open your PayPal account.
If I tap the banner above, it gives me the ability to Bitcoin, Ethereum, Litecoin, or Bitcoin Cash.
What You Should Know
Through this feature, all eligible PayPal users in the U.S. will be able to buy, hold, and sell cryptocurrency within the PayPal app. The company is offering initial support for bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
PayPal, which announced plans to add cryptocurrency purchases to its app in late October, plans to roll out this feature to its Venmo app and some international markets in 2021. PayPal also intends to let people use their cryptocurrency holdings within the app to make online purchases starting in early 2021.
What They Are Saying:
“Based on our belief that Square’s Cash App notably increased monetization since its launch in 2018, we see a ~10% increase in [average revenue per user] as achievable for PayPal,” Horgan wrote in a Thursday note to clients. He argued that crypto functionalities could help drive upside to PayPal’s $900 million revenue target for its Venmo service next year.
Bitcoin is rising, now at $16000, get some for yourself.
