PAYPAL ACCEPTS BUYING AND SELLING BITCOIN by E. Okorie, 23rd of October , 2020
The legendary online digital payment solution and merchant, PayPal has recently accepted the buying and selling of bitcoin in its platform. PayPal launching this new service made the value of bitcoin and other cryptocurrencies appreciate in value on Wednesday 21nd of October, 2020. Bitcoin price rose above the $13,000 mark with great prospects. This bullish move validates the use of cryptocurrencies globally. PayPal users can now buy or sell bitcoin and store in a designated wallet in the PayPal platform. As from 2021, Customers will be able to use the stored bitcoin wallet to shop on any merchant that accept PayPal.
However, this service offered by PayPal currently has a limit. The bought bitcoin currently cannot be transferred to another bitcoin wallet and must be used within the PayPal platform. Also bitcoin payment on PayPal would be completed using fiat payment (e.g U.S dollar). In other words, PayPal Merchants will not receive bitcoin even when PayPal customers pay with it. Consequently, various bitcoin enthusiasts are already clamoring for a review to these policies.