PayPal buys and sells bitcoin in UK

Payment giant PayPal has launched new services that allow customers in the UK to buy, store and sell bitcoins.
On Monday, payments giant PayPal launched new services that allow customers in the UK to buy, store and sell bitcoins and other cryptocurrencies. The service will be available for personal accounts instead of business accounts that authenticate using the platform.
PayPal blockchain, cryptocurrency and digital currencies Da Ponte José Fernández, vice president and general manager, says: “pandemic, the digitization of money and digital financial services by consumers digital change and innovation in every area of our lives including accelerated wider recognition.& quot;
It is the first expansion of Bitcoin trading and PayPal services outside the US. The Platform also launched educational content on the platform about bitcoins and other cryptocurrencies.
Jose said: “Our global reach, our expertise in digital payments and consumer and business expertise, coupled with stringent security and compliance controls in the UK, gives us a unique opportunity and responsibility to help people learn about crypto currency.”;
The announcement was made after PayPal Chief Executive dan Schulman said in the company’s Q2 earnings report that the functionality of bitcoin trading had emerged in the UK and was following PayPal’s promises in February. PayPal’s new crypto offer was made possible by partnering with paxos Trust.
Customers can now buy, store and sell bitcoins for just £ 1 on the platform via a website or mobile app. The functionality of the app is still quite limited as customers cannot send or receive bitcoins. However, for bitcoin users who see the app as a way to make it easier for consumers to access it, there is hope that they will soon have basic wallet functions that will allow money to be withdrawn and deposited into bitcoins.

Without a chance to pull back bitcoin

Join the Discussion

  • BrokerEUR/USD
    ETX Capital 0.6pips (variable) margin: 3.33%
  • Back to top