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Gates opened to purchase Bitcoin Cash in US using PayPal.

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Written by   679
7 months ago

Paypal users in United States are officially using their Paypal funds to buy and hold cryptocurrency, the news was largely noticed on the social media by some US Paypal customers and noticed on dedicated websites such Bitcoin.com news.

The giant payment processor company announced it on Thursday that eligible United States Paypal accounts could buy, hold and sell cryptocurrencies using directly funds from their dashboard on the firm. The company entered into crypto at the end of Oct. 2020 and at the time said that will be providing support for crypto assets in 2021 and the whole world could use the Paypal payment service to spend, fund, hold and buy anything on their network of merchants all over the world, the company have more than 350M customers in more than 210 worldwide locations.

With this number the payment processor company could feed the crypto ecosystem with more than 300 million users distributed in more than 210 locations across the globe, making crypto assets even more popular than ever. Since the announcement by the company to embrace crypto the main asset Bitcoin, have been moving forward worth more than $16,000 per unit, with Ethereum and Bitcoin Cash following the same way.

To note that in the beginning the company will only offer support for (4) coins respectively Bitcoin, Bitcoin cash, Ethereum and litecoin and all the legal tender will be handled by Paxos Brokerage, who have the US license to provide crypto assets to the firm. With this giant the use and commerce of cryptocurrencies the world won't be the same.

Paypal have been on business since 1999 being one of the biggest companies in the world in their field , they have the experience and knowledge to make the ecosystem bigger than expected. They had to increase the threshold to US citizens to buy more crypto using their services from $15,000-$20,000 as the demand of this assets have been increasing.

On Nov. 2, 2020 the Paypal CEO also noted that the company despite offering services to their customers to hold, buy and sell crypto, the company is planning also to start offering support to digital currency electronic payment-DCEP also dubbed CBDC-central bank digital currency when this coins become available to the market.

One of the issue who still worrying the crypto community is that the giant fintech firm isn't planning to let users to withdraw this coins to external wallets, only giving them the ability to spend it on their network of 26 million merchants across the globe accordingly to their terms of service, which also note that crypto assets are not regulated and insured by the authorities also involve risks.

Below I will show some of the screenshot from US users buying Bitcoin Cash using their Paypal funds, remember the service is just available from now to US eligible accounts:

Users in United States are buying Bitcoin Cash using PayPal funds.

Changpeng Zhao also noticed this worldwide news and made the honour to publish it on his twitter account, to note "CZ" is the Chief Executive Officer CEO from the biggest and largest crypto exchange in the world due to daily volumes in transactions, and seems that he support this new crypto services offered by PayPal the giant fintech on the payment processor sector, check his reaction on the tweet.

In 2021 more countries will be integrated to buy, hold and sell cryptocurrency using PayPal funds, the world of crypto will never be the same with this giant entering to crypto space, things are just getting warm!

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Have a marvelous weekend, don't forget life is too short to just focus on bad things, be happy and pass the most part of your life with your loved ones.

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Written by   679
7 months ago
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Comments

it seemed very interesting

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7 months ago

The giant payment processor company announced it on Thursday that eligible United States Paypal accounts could buy, hold and sell cryptocurrencies using directly funds from their dashboard on the firm. The company entered into crypto at the end of Oct. 2020 and at the time said that will be providing support for crypto assets in 2021 and the whole world could use the Paypal payment service to spend, fund, hold and buy anything on their network of merchants all over the world, the company have more than 350M customers in more than 210 worldwide locations.

This service is exclusive only for us users only sir? Or this a 1st wave trial?

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7 months ago

Nice

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7 months ago

For now only in United States, but soon they will open to the whole world...2021 will be a great year.

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7 months ago

As stated in your last paragraph. Won't be able to withdraw or send... Its pretty useless for a payment processing company. I guess they just want to be able to say they deal with crypto. They should just let people buy crypto with paypal instead...

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7 months ago

I also think it is meaningless at the moment. It will only become interesting when you can pay with BCH via PayPal. At the moment PayPal is only an exchange and furthermore a bad one, because you can't transfer your purchased BCH.

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7 months ago

I believe they will change that policy and let users to have all package hold, buy, send and withdraw to external wallets, we just need to wait to see what will happen.

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7 months ago

For me it only becomes interesting when I can deposit my BCH on PayPal and pay online.

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7 months ago

This will be an amazing tool to pay across the globe in more than 26 million merchants across the globe, crypto becoming more accessible to purchase goods💰

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7 months ago

Yes, that will certainly be the breakthrough. Imagine that you can choose BCH as payment at PayPal in addition to bank account and credit cards. That would be great.

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7 months ago

That would be brilliant 👌

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7 months ago

Paypal account is very useful for bitcoin. Nice article. Thanks.

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7 months ago

Great for the cryptocurrencies in general, specially BTC (we love Bitcoin Cash) and ETH (which is coming in hot with v2.0 soon, yet PayPal fees and area restrictions discourage us to buy, hold or sell our crypto with them.

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7 months ago

They are first approaching the market and have a lot of policies to enter it but on the end they will be more liberal and allow users to hold, buy, sell and withdraw to external wallets.

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7 months ago

This is really amazing. It's an advantage to lovers of the crutpo

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7 months ago

Like

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7 months ago

It's just name that PayPal deals cryptos but in real sense it's useless as can't transfer your purchased BCH to PayPal nor withdraw it

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7 months ago

For now that can't be withdrawn who knows in the future 👌

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7 months ago

Good job on the article. I was excited to see Paypal decide to list these 4, but then I saw that I wouldn't be able to take them out, almost like Robinhood, which push me not being on board. I would rather hold my coins on my own wallet and be allowed to have freedom to use them to pay for whatever transaction I need. I think it's a right step in the future. I use Paypal to pay for things or transfer money, but honestly as of now, for me, other avenues are easier to use if I want to purchase and use Bitcoin. It will be interesting to see how this will progress in the coming years.

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7 months ago

The baddest thing is that we wouldn't able to withdraw the assets to external wallet for now, but I believe that in future they will change that policy👌

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7 months ago

Good to hear this news.

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7 months ago

Can I change crypto to fiat currency using this method?

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7 months ago

Well I believe you can

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7 months ago

Nice article to make

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7 months ago

Amazing story

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7 months ago

what a article this is!! I like this

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7 months ago

Wow, this is amazing, so I can buy bitcoin cash directly from my PayPal account and as well fund my account from bitcoin cash

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7 months ago

Yes😊

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7 months ago

Nice post..keep it bro

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7 months ago

its good for paypal users

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7 months ago

Nice post

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7 months ago

How does this bitcoin appeared

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7 months ago

well thats a great news for all users of paypal in usa

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7 months ago

Yes and more people in the world will benefit from it starting in 2021👌

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7 months ago

It seems that he support this new crypto services offered by PayPal the giant fintech on the payment processor sector

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7 months ago

I think it would be much better if PayPal and Gates thought it would be better to do it, to do something better by thinking a little differently about US policies..

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7 months ago

I've been following your article and your contents shows your are very interested in cryto currencies. It's great for me cos I learn a lot. Keep writing

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7 months ago

Thanks i really appreciate your feedback.

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7 months ago

A nice idea develop to help people using PayPal to buy crypto currencies

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7 months ago

What a nice article very informative I really appreciate on reading this article now I understand how it goes between the people and the Bitcoin companies thanks very much keep it up

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7 months ago

Thanks it's my pleasure to share it with the community 🙏

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7 months ago

I wonder why they still don't allow cryptos to be sent on external wallets, that one could even make it better. And they can even have another opinion for funding the account.

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7 months ago