PayPal accepts bitcoin as form of payment
The first cryptocurrency is riding the wave of good news. Positive articles have been appearing one after another, thus accelerating bitcoin’s rise. The percentage of disturbing news is really small. Even the worst of them such as a possible ban on virtual money in India do not influence the asset. However, posts on Twitter and other social networks may significantly affect the BTC price. In other words, funny posts turned out to be more influential than announcements made by official government representatives. There are highly important events in the flow of positive news. Thus, PayPal, the largest electronic debit payment system in the world, allowed users from the US to pay with cryptocurrencies in online stores worldwide. This is a real breakthrough and a strong reason for a rise.
“Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases. The company will charge no transaction fee to checkout with crypto and only one type of coin can be used for each purchase,” President and CEO of PayPal Dan Schulman said. He also added that this option would become available in the near future.
It seems that creators of the payment system managed to solve the main problem of using bitcoin as a payment instrument. The fact is that bitcoin is extremely volatile and this causes a lot of difficulties. However, PayPal believes that it will be able to solve the issue. Notably, in October, PayPal users got the opportunity to buy, sell, and hold cryptocurrencies without commissions.