PayPal & Cryptocurrencies
Accepting crypto payments is cool, the industry is booming, and PayPal wants in on this! But it is not that easy! (as it is with NOWPayments — start accepting NOW!)
The cryptocurrency space is abuzz with PayPal, an Internet payment company that is making its way into the same industry as Bitcoin and Ethereum. Despite its resistance towards the decentralized payment system for years, the company has now decided to have a fair share of this new FinTech revolution, courtesy of the Cryptocurrencies Hub. PayPal is striving to be part of the blockchain and cryptocurrency industries, and it is part of the company’s plan to expand its business in such a strategic way.
For now, there is a lot of attention being paid to this new announcement from PayPal. Sure, it will revolutionize the crypto as a mode of payment. As we have mentioned before, we have a handful of ways to spend crypto at the moment, and given PayPal’s popularity, well, this could be the beginning of crypto finally going mainstream!
We are here to demystify PayPal’s debut in the crypto space and see if it is actually worth the hype. We will also get to the bottom of what it means to those of you who have invested your time, sweat, and money in various crypto wallets and exchanges, and how PayPal could benefit from this.
Some facts:
- Towards the end of October 2020, PayPal briefly outlined its vision for a whole new service that will allow its users to purchase, hold, and sell several cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
- The core strength of PayPal as a payment company is the number of global merchants (26 million) and users (346 million). Soon, PayPal wants to empower its merchants to accept Bitcoin as payment from its users.
- All crypto trades must be executed in USD, and users will not be able to deposit and withdraw their funds or send them to other PayPal individuals as of now.
- With NOWPayments you accept crypto payments in crypto though! And they go straight to your wallet.
Continue reading in the NOWPayments blog!
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Why use NOWPayments.io?
NOWPayments is the easiest way to accept online payments in a wide variety of cryptocurrencies. This service is custody-free, has competitive fees and is available worldwide.
- Over 50 cryptocurrencies are accepted on the platform with an in-built exchange feature;
- API, widgets, plugins and a donation button are all easy to integrate;
- It is a non-custodial service ensuring the security of your funds;
- A very simple setup
