PayPal also supports digital currencies in the UK

The PayPal is preparing to launch a cryptocurrency service in the UK. The first after 2020 that the company made available in the US.

The launch of its cryptocurrency service PayPal in the UK means that UK residents will be able to buy, hold and sell digital currencies from their standard account in the UK. PayPal. So this will practically allow millions of customers PayPal start using and interacting with Bitcoin, Ethereum and other cryptocurrencies.

At the moment, users can choose digital currencies Bitcoin, Ethereum, Bitcoin Cash ή Litecoin.
paypal bitcoin

The US version of the encryption service PayPal started last year and has evolved very dynamically. Speaking to CNBC, its general manager PayPal for blockchain, and digital currencies, he said:

It goes very well in the US. We expect it to go well in the UK.

As with existing encryption services, its encryption options PayPal in the UK will use Paxos, a US-based company. Without prejudice to UK regulatory authorities, its users PayPal UK based will be able to buy or sell cryptocurrencies worth up to:

  • .15.000 XNUMX per transaction
  • .35.000 XNUMX a year

These are not very big limits, but they are more than enough for most users.

Access to cryptocurrency services will be possible through a new encryption tab that will soon appear on the service (we are always talking about the UK).

Along with cryptocurrency buying and selling options, its encryption tab PayPal will provide real-time price information, educational content, and other information on the potential risks of digital currency transactions.

The transactions with Bitcoin and Ethereum through the PayPal seems to be a welcome addition for UK users (especially those new to cryptocurrency), but it is important to note that its crypto wallet PayPal accompanied by restrictions.

1. The Bitcoin and other cryptocurrencies in your account at PayPal are somewhat hostage, as you can not send them to different digital wallets or other users.

This means that PayPal can be used to create a small stock Bitcoin, Ethereum, Litecoin ή Bitcoin Cash, you will not be able to spend or send your cryptocurrencies anywhere else.

For many users Bitcoin (or other cryptocurrencies), this is unacceptable.

2. OR PayPal has a reputation for closing or suspending accounts, and if the company decides to, you probably won't be able to do much.

But regardless of the above, the expansion of its encryption services PayPal and in another country it is very good for it Bitcoin.

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