{"id":52245,"date":"2020-11-13T09:01:19","date_gmt":"2020-11-13T09:01:19","guid":{"rendered":"https:\/\/www.cryptocabaret.com\/?p=52245"},"modified":"2020-11-13T09:01:19","modified_gmt":"2020-11-13T09:01:19","slug":"paypal-opens-crypto-services-to-millions-of-eligible-account-holders-in-the-us","status":"publish","type":"post","link":"https:\/\/www.cryptocabaret.com\/?p=52245","title":{"rendered":"Paypal Opens Crypto Services to Millions of Eligible Account Holders in the US"},"content":{"rendered":"

\"Paypal<\/p>\n

Payment processing giant Paypal announced on Thursday that \u201call eligible Paypal account holders in the U.S. can now buy, hold, and sell cryptocurrency directly with Paypal.\u201d The news follows the company\u2019s announcement to support crypto assets at the end of October.<\/strong><\/p>\n

Paypal\u2019s New Relationship With Crypto Assets<\/h2>\n

On October 21, 2020, the payment firm Paypal announced<\/a> that it would soon support bitcoin (BTC)<\/a>, ethereum (ETH)<\/a>, bitcoin cash (BCH)<\/a>, and litecoin (LTC)<\/a>. The company said the Paypal customers would be able to buy, sell, and hold the virtual assets.<\/p>\n

On November 2, 2020, Paypal CEO Dan Schulman discussed the company\u2019s cryptocurrency support<\/a> during an earnings call. Schulman revealed plans for Venmo support and increased crypto-asset purchasing limits to $15k.<\/p>\n

\"Paypal
A number of digital asset proponents tweeted about Paypal starting crypto services on Thursday afternoon.<\/figcaption><\/figure>\n

Paypal\u2019s initial statements also detailed that in early 2021, customers would be able to use crypto assets with its 26 million merchant network.<\/p>\n

After the original Paypal announcement, a number of crypto proponents criticized the company for not allowing the transfer of digital assets to external wallets. \u201cYou currently are not able to send crypto assets to family or friends, use crypto assets to pay for goods or services, or withdraw crypto assets from your cryptocurrencies hub to an external cryptocurrency wallet,\u201d Paypal\u2019s service terms<\/a> note.<\/p>\n

Paypal\u2019s service terms also stress: \u201cBuying and selling crypto assets is inherently risky\u201d and crypto assets are \u201cnot insured by the Federal Deposit Insurance Corporation (FDIC).\u201d<\/p>\n

Paypal Opens the Gates<\/h2>\n

The topic of Paypal\u2019s entry into the crypto asset space started again on Thursday when a number of U.S.-based customers found out the waitlist is over.<\/p>\n

\u201cWe are pleased to announce that all eligible Paypal account holders in the U.S. can now buy, hold and sell cryptocurrency directly with Paypal,\u201d the company announced on Thursday, November 12, 2020.<\/p>\n

\n

Hundreds of millions of active #PayPal<\/a> accounts in the United States just woke up to this #bitcoin<\/a> message! pic.twitter.com\/NY9VALS2In<\/a><\/p>\n

\u2014 Altcoin Daily (@AltcoinDailyio) November 12, 2020<\/a><\/p>\n<\/blockquote>\n

After Paypal CEO Dan Schulman revealed the increased purchasing limits to $15k last week, on Thursday the company raised the limit again to $20,000. \u201cDue to initial demand from our customers, we\u2019ve also increased our weekly cryptocurrency purchase limit from $10K\/week to $20K\/week,\u201d Paypal said.<\/p>\n

A number of Twitter users tweeted<\/a> about receiving a message from Paypal on Thursday morning that said Paypal\u2019s crypto services were now available to all U.S. customers.<\/p>\n

What do you think of Paypal\u2019s entry into crypto space? Tell us what you think in the comments section below. <\/strong><\/em><\/p>\n

The post Paypal Opens Crypto Services to Millions of Eligible Account Holders in the US<\/a> appeared first on Bitcoin News<\/a>.<\/p>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Payment processing giant Paypal announced on Thursday that \u201call eligible Paypal account holders in the U.S. can now buy, hold, and sell cryptocurrency directly with Paypal.\u201d The news follows the company\u2019s announcement to support crypto assets at the end of October. Paypal\u2019s New Relationship With Crypto Assets On October 21, 2020, the payment firm Paypal […]<\/p>\n","protected":false},"author":2,"featured_media":52246,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"class_list":["post-52245","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/52245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52245"}],"version-history":[{"count":0,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/52245\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/media\/52246"}],"wp:attachment":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}