PayPal is working on the integration of cryptocurrencies, trading with Bitcoin and company should be possible directly on the PayPal platform.
Cryptocurrencies like Bitcoin and Ether still have a great future ahead of them, as we have reported many times in the recent past. For this to happen, new technologies in this area and digital currencies must also reach “normal” society. This can always be possible when established companies come together and expand their offerings accordingly. PayPal is said to have planned exactly that for this year, Coindesk reports.
Internal plans are reported that PayPal will soon offer direct trading in well-known cryptocurrencies. It should be an alternative to Coinbase, where you can invest your money in a wide variety of cryptocurrencies and blockchain offerings. Until now, PayPal has been working with Coinbase, but only to deposit and withdraw “real” currency.
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Paypal will become a competitor of Coinbase
PayPal has more than 325 million users around the world, so the project could be something exciting in the world market.
“I heard that they will allow the buying and selling of cryptocurrencies directly from PayPal and Venmo,” a well-informed industry source told CoinDesk. “They will have some kind of wallet function built in so you can keep them there.”
A second and a third source are said to have confirmed this plan. The offer could start in the next three months, that is, in summer or early fall. So far, precise details are lacking on what cryptocurrencies could be offered on PayPal. To keep up with Coinbase and similar platforms, there should be a few. PayPal declined to comment on the report.
Pay with purchased cryptocurrencies
Meanwhile, I wonder how far PayPal is planning to go. Can you only buy cryptocurrencies to speculate on its price increase? Or can you use cryptocurrencies to buy anywhere on the internet where we can pay with PayPal today? The planned wallet function seems to me that cryptocurrencies can be used as a means of payment.
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