Clients of the service who hold bitcoin, Ethereum, Bitcoin Cash and Litecoin on their accounts will be able to use them to pay for goods or services. Against this background, the bitcoin rate began to grow sharply and exceeded $ 59 thousand for the first time since March 20.
Starting March 30, PayPal customers in the US will be able to use cryptocurrency to pay. Users who hold bitcoins, Ethereum, Bitcoin Cash and Litecoin on their wallets will be able to convert them to fiat currencies at the time of purchase.
In the coming months, the service will become available in all 29 million retail outlets that work with the payment system, writes Reuters .
“This is the first time that you can seamlessly use cryptocurrency like a credit or debit card in your PayPal wallet,” said company president Dan Shulman.
The company called the option with automatic conversion the best for most sellers, since they do not need to worry about the volatility of cryptocurrencies. PayPal will not charge transaction fees and will only allow one cryptocurrency to be used for each individual purchase.
In November 2020, PayPal opened access to cryptocurrencies to US customers. They can buy, hold and sell digital money directly through the service. At the same time, the company announced the ability to pay with cryptocurrency at retail outlets.
In the last hour, the bitcoin rate began to rise sharply, having risen by more than $ 1,000. Cryptocurrency quotes exceeded $ 59,000 for the first time since March 20. They are approaching the all-time high of $ 61.8 thousand, set on March 14.
Carmaker Tesla added bitcoin payment for its products last week . While the service is only available to US customers, it will appear in other countries later this year. The company will not convert bitcoins received as payment into fiat currency.
