PayPal Holdings, Inc. announced the launch of Checkout with Crypto, a new feature which significantly expands the utility of cryptocurrency. Customers using “Checkout with Crypto” can check out safely and easily, converting cryptocurrency holdings to fiat currency, with certainty of value at no additional transaction fees. Checkout with Crypto will automatically appear in the PayPal wallet at checkout for customers with sufficient cryptocurrency balance to cover an eligible purchase.
According to the company, the new service will roll out this week and customers will gain access to four different types of cryptocurrencies: bitcoin, Ethereum, Litecoin and Bitcoin Cash. This represents the first international expansion of the company’s cryptocurrency product since the company launched the service in the United States in October.
- Enables access to cryptocurrency for consumers in a secure and responsible way
- Encourages customers to research and learn about the opportunities and risks in cryptocurrency before transacting
- Marks first international expansion of PayPal’s cryptocurrency service beyond the U.S.
- The company encourages its customers to do their research on the risks and opportunities for various cryptocurrencies before taking the step to buy, hold and sell cryptocurrency with PayPal.
- PayPal provides account holders with educational content to help them understand the cryptocurrency ecosystem, the volatility, risks, and opportunities related to purchasing cryptocurrency.
Dan Schulman, president and CEO, PayPal said:
“As the use of digital payments and digital currencies accelerates, the introduction of Checkout with Crypto continues our focus on driving mainstream adoption of cryptocurrencies, while continuing to offer PayPal customers choice and flexibility in the ways they can pay using the PayPal wallet. Enabling cryptocurrencies to make purchases at businesses around the world is the next chapter in driving the ubiquity and mass acceptance of digital currencies”.
You can buy, sell and hold cryptocurrency through PayPal’s cryptocurrency service, but you can’t use it to send cryptocurrency. Purchases and sales of cryptocurrency aren’t reversible and cannot be changed. None of the information provided by PayPal should be taken as tax, financial, legal, trading or investment advice. Eligible Checkout with Crypto purchases include the safety, security and other benefits of using PayPal, including 24/7 fraud protection, return shipping and purchase protection on eligible items.
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