PayPal Serves Cryptocurrency Trading on its Platform, in the UK

In August 2021, PayPal declared and took an initiative to allow the United Kingdom customers to trade and transact cryptocurrency on their platform. Software updates and platforms were being renovated for this new service.

UK PayPal Customers can Utilise PayPal as a Crypto Trading Platform

In August, PayPal declared that it will get into the British Crypto market and will soon devise a system to provide Crypto services. 

They tweeted regarding this on August 23, 2021. The post stated, “The service starts rolling out this week and will be available to all eligible customers in the coming weeks. It will feature Bitcoin, Ethereum, Bitcoin Cash, and Litecoin directly within the PayPal digital wallet…”

PayPal Vice President and General Manager of Blockchain and Cryptocurrency – Jose Fernandez da Ponte said that the “move was doing well in the US”. He also mentioned that the company’s reach across the globe will provide an incentive for the people in the UK and it could be a ” Unique opportunity ” for them to explore Cryptocurrency. 

PayPal has activated crypto services on its platform for UK users and plans to proliferate this. Source: Ledger Insights

Jose Fernandez da Ponte further added, “The pandemic has accelerated digital change and innovation across all aspects of our lives including the digitization of money and greater consumer adoption of digital finance services.”

The UK-based customers of PayPal will now purchase cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, and Litecoin for as little as £1.

The official website mentions, “customers can buy, sell and hold Cryptocurrency throughput PayPal’s cryptocurrency service, but they can’t use it to send cryptocurrency. Purchases and sales of cryptocurrency aren’t reversible and cannot be changed.”

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Also Read: PayPal Embracing Defi, Launching Crypto Trading In The UK

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