In October 2021, PayPal announced that it would allow users to buy, sell, and hold Bitcoin and other cryptocurrencies using their PayPal accounts. The service, which is called PayPal Crypto, is available in the United States and is expected to be rolled out to other countries in the future.
With PayPal Crypto, users can purchase Bitcoin and other cryptocurrencies using their PayPal balance or linked bank account, and they can also withdraw the funds to their linked bank account. They can also hold the cryptocurrencies in their PayPal account and use them to make purchases from merchants who accept them as a form of payment.
PayPal's decision to support Bitcoin and other cryptocurrencies is seen as a major milestone for the cryptocurrency industry, as it gives millions of PayPal users around the world easy and convenient access to cryptocurrencies. It is also expected to increase the mainstream adoption of cryptocurrencies and could potentially drive up their prices.
However, it is important to note that PayPal's support for cryptocurrencies is limited to buying, selling, and holding, and does not include support for mining or other advanced features. Additionally, PayPal's policies on cryptocurrencies may change over time, and it is important to carefully review them before using the service.
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