PayPal will allow the sale and purchase of cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. For this, PayPal has joined forces with the company Paxos, which specializes in the field. The offer will only be available in the United States for the moment, but the company is expected to expand it to other countries in the first half of 2021.
It will therefore be possible to keep these wallets or to make purchases from the 26 million merchants who offer PayPal as a means of payment in the world and to pay in cryptocurrency.
On the other hand, the transformation of cryptocurrency into traditional currency will be subject to fees. PayPal announces a minimum commission of 0.50 dollars for transactions under 25 dollars, then a percentage of 2.3% for transactions under 100 dollars, 2% between 100 and 200 dollars, 1.8% between 200 and $ 1,000 and 1.5% above $ 1,000.
The service will be rolled out gradually and should be fully operational next month.
Source : TechCrunch