PayPal’s Game-Chaning Cryptocurrency Checkout Service Launched In The United States

In the first week of April, PayPal Holdings Inc. is going to introduce their new feature in which you can convert the cryptocurrency via digital wallets credit and debit cards into regular money. The feature rolled out yesterday and is called “checkout with crypto”. The service is available for the users in the United States for now.

Now the PayPal users who are also bitcoin investors can change and utilize their cryptocurrency including Bitcoin, Ethereum, Litecoin, or Bitcoin Cash to US dollars and directly buy products.

Though it’s a bit risky, turning cryptocurrency into flat real money, but with PayPal having 375 million users, around the globe it will take no time. Although it’s probably the first step toward the new era which may have cryptocurrency instead of regular money, a few years are still required to set the trend.

The current price of bitcoin is going around 60 thousand dollars and will continue to rise for sure. But there also a greater chance that these get banned by the U.S government due to various reasons.

As said by Schulman "We think it is the high time where crypto currencies change from being merely an asset class that you buy, hold and or sell to now being an authorized source to make transactions at millions of merchants around the globe,"

The bitcoin market has climbed rapidly during the last year almost 800 percent and recently in the few weeks after the Tesla owner and CEO Elon musk announced that people can buy their electric cars via the cryptocurrency.

The feature will be visible to the PayPal users who have “sufficient cryptocurrency balance to cover an eligible purchase,” in their PayPal wallet.

For now, the company will not charge a checkout fee for the crypto transaction and a single type of coin can be used for one action.

Apart from PayPal, back in 2018, Square, an American financial services, and mobile payment company based in San Francisco, owned by Jack Dorsey, came up with a feature to support the cryptocurrency using a digital wallet. Reportedly, Square has a total of 377 million active user accounts.
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