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How To Buy, Sell, And Hold Cryptocurrency With Your Paypal Account

Nigeria Student Forum / General Discussion / How To Buy, Sell, And Hold Cryptocurrency With Your Paypal Account

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Sani Ibrahim
Abubakar Tafawa Balewa,University
Agricultural economics and extension
100Level, Nigeria.
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Early in June this year 2020 we reported to you that PayPal
plans to make available opportunities to buy, sell
cryptocurrency directly from your PayPal account; today, the
feature has been launched.
PayPal on Wednesday announced a new feature that will allow
users to buy, hold, and sell cryptocurrencies directly from their
PayPal account, becoming the latest large financial services
provider to show an interest in the space.
According to PayPal, customers will be able to buy, hold and
sell cryptocurrency directly from their PayPal account, and
signaled its plans to significantly increase cryptocurrency’s
utility by making it available as a funding source for purchases
at its 26 million merchants worldwide.
The cryptocurrency feature that will be available on the
platform at the moment includes bitcoin , ethereum, bitcoin
cash , and litecoin . By early 2021, the company also plans to
let customers use crypto to shop with its network of 26 million
retailers.
As part of this offering, PayPal will provide account holders
with educational content to help them understand the
cryptocurrency ecosystem, the risks and opportunities related
to investing in cryptocurrency, and information on blockchain
technology. There are no service fees when buying or selling
cryptocurrency through December 31, 2020, and there are no
fees for holding cryptocurrency in a PayPal account.
“The shift to digital forms of currencies is inevitable, bringing
with it clear advantages in terms of financial inclusion and
access; efficiency, speed and resilience of the payments
system; and the ability for governments to disburse funds to
citizens quickly,”
To launch the feature, PayPal said it had teamed up with
cryptocurrency start-up Paxos. PayPal new cryptocurrency
feature will launch in the US in the coming weeks.

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