That’s the first international expansion of PayPal’s cryptocurrency service beyond the US
PayPal has launched a new service enabling its customers in the UK to buy, hold and sell Bitcoin and other cryptocurrencies.
According to the press release, customers can choose from 4 types of cryptocurrencies – Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
This way, by accessing their PayPal account, they can view real-time crypto prices, access educational content to help answer FAQs, and learn more about cryptocurrencies.
PayPal customers can start by buying as little as £1 of cryptocurrency. To purchase cryptocurrency, eligible customers can log into their account via the website or their mobile app, navigate to the new crypto tab to view the four cryptocurrencies available, and view current pricing and trends.
They can choose from pre-determined purchase amounts or enter in their own purchase amount, before following the prompts to buy the cryptocurrency of their choice.
Customers will be able to fund their PayPal account for the purchase using their bank account or debit card. If customers choose to sell crypto, funds are normally available quickly to spend in their PayPal account.
The company states there are no fees to hold cryptocurrency in a PayPal account. However, there are transaction fees and currency conversion fees for buying and selling applicable cryptocurrencies.
We’ve reported that the linking platform teamed up with PayPal to enable direct payments.