Paypal is expanding its service for buying and selling cryptocurrencies. In the coming weeks, British customers will be able to trade bitcoin in the app and online.
Now UK Paypal customers will also have the opportunity to trade cryptocurrency through the company’s app and website.
Cryptocurrency trading via Paypal began in the US earlier this year, and the company says on Monday that it will take a few weeks to roll out to all users in the UK.
The pandemic has accelerated digital transformation and innovation throughout our lives, including the digitization of money. More consumers are also using digital financial services, says Jose Fernandez da Ponte at Paypal.
In addition to bitcoin, cryptocurrencies Ethereum, Litecoin and bitcoin cash will be available.
Baker $50,000
On Monday, the price of Bitcoin surged above $50,000 for the first time since May. After an increase of about 2 percent, bitcoin reached an initial peak of $50,249.15 – just over 453,000 kronor.
In addition to the news from PayPal, crypto exchange Coinbase announced last week that the company will buy cryptocurrency for $500 million and that it will put ten percent of its profits into a cryptocurrency wallet, According to CNBC.
However, there is still a way to reach the record of over $64,000 from April.
Fears of increased regulation and tightening, including from China, hampered the market earlier this summer.
Bitcoin exchange rate over the past year.
Bitcoin surpasses $50,000, hitting a 3-month high
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