PayPal UK Steps into Bitcoin & Crypto Waters Too
PayPal UK today announced the launch of its much-expected crypto service.
All eligible customers in the UK can now buy, sell, and hold bitcoin (BTC), ethereum (ETH), litecoin (LTC), and bitcoin cash (BCH) from their PayPal accounts, said the payment giant.
“Look out for it in the PayPal app,” they added.
This new service was first announced in the second half of August.
As reported, in late March, PayPal announced the launch of a service that will allow its customers to pay with the mentioned cryptoassets. It further stated at the time that the service would be “continuing to expand over the coming months.”
PayPal then made a major change for their US customers back in July, allowing them to spend five times more on the supported cryptoassets. They raised the purchase limits of cryptocurrency for eligible customers to USD 100,000 per week with no annual purchase limit.
The company first announced in October last year that it would offer crypto services to the US account holders, offering them the ability to buy, sell, and (almost) hold crypto on its platform. The new service, named Checkout with Crypto, was initially only available in the United States.
Meanwhile, in April, Venmo, the PayPal-operated peer-to-peer mobile payments app, started support for crypto as well.
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Learn more:
– PayPal Talks up ‘Crypto Capabilities’ of New App, Calls DeFi Applications ‘Interesting’
– Strike Issues a Live-or-Die No-Fee ‘Challenge’ to Coinbase, CashApp, Venmo
– PayPal, Visa & Other Investors Double Down On Their Crypto Investments
– PayPal & Robinhood Follow Revolut, Plan Crypto Withdrawals
