earn from bitcoin

UK Residents Can Now Use PayPal To Buy and Sell Cryptocurrencies

Advertisements

Residents of the United Kingdom can now buy and sell cryptocurrencies starting this week, a press release by the global payment platform said Monday, August 23, 2021

The announcement is the first international expansion of PayPal’s cryptocurrencies services following the launching of the same system in the United States early this year.

With over 403 million active accounts globally, the California-based payment platform enables customers to use their digital coin to make purchases at the millions of merchants on its network.

Advertisements

This means customers will be able to buy Bitcoin, Ethereum, Litecoin, and Bitcoin Cash through their PayPal wallets online or on the mobile app.

Bitcoin price in the UK as of August 23 was £ 36,597.4; while Litecoin price was £138.55.

What does this mean to the digital world?

The expansion of PayPal digital holdings to the UK came the same day bitcoin price pushed above $50,000, meaning this could spur the interest of other mainstream to adopt the new asset class.

It also means its expansion will most likely encourage global use of virtual coins and prepare its network for new digital currencies.

The Vice President and General Manager for Blockchain, Crypto and Digital Currencies at PayPal,  Jose Fernandez da Ponte, in a statement, said:

“We are committed to continue working closely with regulators in the UK, and around the world, to offer our support — and meaningfully contribute to shaping the role digital currencies will play in the future of global finance and commerce.”

With PayPal in-round into the United Kingdom, it means Coinbase Global will have to step up its game in the country.

Also Read:  Why Breet Is The Best App To Convert Bitcoin To Naira

 

Author

  • Opeyemi Quadri

    Ope is a finance writer and researcher with 10+ years of experience in content creation. His interests cut across decentralized finance, investment, foreign exchange, government policies and politics.

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Scroll to Top