Home technology it-services All US PayPal Users Can Now Trade Cryptocurrencies

All US PayPal Users Can Now Trade Cryptocurrencies

It Services

CIO Bulletin
2020-11-13

PayPal Holdings, Inc. had announced the launch of its new cryptocurrency trading service in October this year. Its customers could buy, hold and sell cryptocurrency directly from their PayPal account. But the company had launched the service only partially in the U.S. before today. Now, the company has rolled out the service across the U.S.

The new feature will enable PayPal customers to buy, sell and hold a range of cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash and Litecoin. PayPal has set the purchase limit at $20,000/week.

"Our global reach, digital payments expertise, two-sided network, and rigorous security and compliance controls provide us with the opportunity, and the responsibility, to help facilitate the understanding, redemption and interoperability of these new instruments of exchange,” said Dan Shulman, PayPal’s president and CEO, in the initial press release.

PayPal, with this rollout, is charging no fees to hold cryptocurrency in an account. The company is waiving the fees until December 31, 2020. PayPal users can now login to their accounts to know more about the new feature.

PayPal is planning to let its users make purchases with the cryptocurrencies from next year.