UK customers can now buy and sell Bitcoin on Paypal
What amazing news for crypto users! PayPal has finally decided to expand its cryptocurrency offerings. On Monday, PayPal started to state the ability to buy, sell and gold cryptocurrency, only to the customers in the UK.
It is seen that initially only four currencies will be supported. The four currencies are Bitcoin, Ethereum, Litecoin and Bitcoin Cash. Some other features include real-time price monitoring and educational loan on the topic of cryptocurrencies.
It is the first time that PayPal has launched these features outside of the US. PayPal had first rolled out cryptocurrency trading, first in the US in October 2020. In March 2021, PayPal had also expanded this offering to customers to transfer and withdraw their crypto to third party wallets.
Jose Fernandez da Ponte, the Vp and general manager, blockchain, crypto and digital currency of PayPal stated regarding this venture, “We are committed to continue working closely with the regulators in the UK, and around the world, to offer our support—meaningfully contribute to shaping the role digital currencies will play in the future of global finance and commerce.”
Revolut, Coinbase and Binance are the only few other companies that offer crypto purchases in the UK. It is stated that the new features will be made available for the customers in the UK from this week. It can be understood that these features would be available for eligible customers within the next few weeks, as understood by the statements of the company and would be available both on the website of PayPal and the PayPal app.
If one looks at the PayPal website they would surely be able to see the changes. The website has in clear bold letters, “Crypto with PayPal-coming soon.” The website also has various information regarding this particular venture, to help the customers understand the process and make it a smooth working platform. The world is changing fast and it seems that it is definitely speaking for cryptocurrencies, one can surely hope that changes in the future are going to come up soon.