Bitcoin Price Continues to Rise as PayPal Integrates Cryptocurrencies

Bitcoin Price Continues to Rise as PayPal Integrates Cryptocurrencies

PayPal, one of the largest payment processing companies in the world, has recently decided to integrate Bitcoin.

PayPal, the online payment processing company co-founded by Elon Musk, has decided to allow their users to buy and sell cryptocurrencies. PayPal will be launching their own cryptocurrency application and service. After many years of seemingly rejecting the new payment method of utilizing cryptocurrencies, PayPal has finally agreed that cryptocurrencies will become a major player in the future of finances. For PayPal users, this means that they will be able to buy, sell, and store cryptocurrency in the upcoming weeks, although they most likely will not be able to spend cryptocurrency on the platform until 2021. Since PayPal is also the owner of popular mobile transaction service Venmo, they will also be implementing cryptocurrency services on their Venmo mobile platform starting in the first half of 2021.

PayPal will create digital wallets for their users, allowing users to initially buy, sell, and store Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, eventually with the ability to use these cryptocurrencies to make purchases online. PayPal isn’t the only fintech company getting more involved in the cryptocurrency space, with companies such as Square investing over $50 million in the digital currency.

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