Online payment company PayPal is to allow users in the UK to buy, hold and sell cryptocurrencies using its platform.
Customers can choose from four crypto Bitcoin, Ethereum, Litecoin and Bitcoin Cash.
By accessing their PayPal account via the website or the mobile app, they can view real-time crypto prices, access educational content to help answer commonly asked questions, and learn more about cryptocurrencies, including the opportunities and risks.
This announcement marks the first international expansion of the company’s cryptocurrency offering outside of the United States. With a trusted brand like PayPal now making an entry, access, knowledge, and the exploration of cryptocurrency has the potential to become mainstream in the UK.
Vice President and General Manager, Blockchain, Crypto and Digital Currencies at PayPal, Jose Fernandez da Ponte said:
“The pandemic has accelerated digital change and innovation across all aspects of our lives— including the digitisation of money and greater consumer adoption of digital financial services.
Our global reach, digital payments expertise provides us the unique opportunity, and the responsibility, to help people in the UK to explore cryptocurrency. We are committed to continue working closely with regulators in the UK, to offer our support and meaningfully contribute to shaping the role digital currencies will play in the future of global finance and commerce.”
Buy, hold and sell cryptocurrency with PayPal
The introduction of this service offers customers a new way to explore cryptocurrency in the PayPal. Customers can start by buying as little as £1 of cryptocurrency through PayPal. To purchase cryptocurrency, eligible customers can log into their PayPal 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.
Create greater understanding and enable access
As part of this offering, PayPal provides account holders with educational content to help them understand the cryptocurrency ecosystem, the volatility, risks, and opportunities related to purchasing crypto.
In the UK, PayPal’s new crypto offering which covers buying, holding and selling cryptocurrency will start to roll out this week and will be available within the next few weeks for all eligible customers directly in their PayPal account via the website and their mobile app.
To learn more, visit www.paypal.com/uk/crypto