PayPal, the American means of payment company, will announce today that its American customers will be able to use cryptocurrencies to pay sellers on the platform, a move that will significantly increase the use of digital assets in daily commerce.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
Customers who have bitcoin, ether, bitcoin cash and litecoin in PayPal's digital wallets will now be able to convert their balances into fiat currencies, meaning no ballast on any metals, to make purchases, the company said. The launch has made PayPal one of the largest traditional financial companies to open its operation for cryptocurrencies, and wants to offer an experience equal to that of a credit or debit card within the wallet.
Although cryptocurrencies are gaining traction with investors, they have not yet become widely adopted forms of payment due to their volatility. PayPal expects its service to change that, as merchants do not assume the risk of fluctuating crypto prices when settling the transaction in fiat currency.
“We think it is a transitional point where cryptocurrencies move from being predominantly an asset class that you buy, hold and or sell to now becoming a legitimate funding source to make transactions in the real world at millions of merchants,” Schulman said.
It's important to say that Paypal Will not charge any fee for this checkout with crypto and only one coin per purchase!
Those are great NEWS for our Crypto community, each time that a HUGE company begin using Crypto as an asset, as a currency.. that means the adoption for regular non crypto adopters will eventually becoming more and more usefull.
