La Derecha Diario Pay with Bitcoin: PayPal enables the use of cryptocurrencies in online stores
PayPal enabled the use of cryptocurrencies such as Bitcoin and Ether to pay for purchases at thousands of online merchants
PayPal enabled payment with cryptocurrencies at online merchants in the United States. The new service allows users to use Bitcoin, Ethereum, and other crypto to purchase goods and services.
The tool automatically converts the payment to dollars or stablecoins, simplifying the use of digital currencies without requiring the merchant to accept crypto directly.
What is "Pay with Crypto"?
The service is named "Pay with Crypto". It allows users to use more than 100 cryptocurrencies at stores that accept PayPal as a payment method.
The goal is to facilitate international trade, reduce fees compared to credit cards, and improve business profit margins.
Which cryptocurrencies can be used for payment?
For now, the system accepts payments with:
- Bitcoin (BTC)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
Additionally, PayPal allows users to buy, sell, and store others such as XRP, USDT, USDC, and PYUSD. Their use for direct payments would be the next step.
How does crypto payment work on PayPal?
The process is automatic. When paying with a cryptocurrency, PayPal instantly converts it to dollars or another stablecoin.
This way, the merchant receives a traditional currency, without being affected by crypto volatility. This feature also facilitates accounting and acceptance by more businesses.
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