Tech

PayPal Launches Cryptocurrency Transactions In The UK

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PayPal, the online payment platform, has announced that its crypto currency buying, selling and custody operations, which it started in the USA, will also be launched in the UK. With transactions starting this week, users will be able to transact in Bitcoin, Bitcoin Cash, Ethereum and Litecoin.

PayPal, which offers online payment and sending/receiving money, gave big news for the cryptocurrency world today. In its announcement, the platform announced that it will start the buying, selling and custody operations of cryptocurrencies in the United Kingdom as well. Currently, only selected cryptocurrencies will be available to those wishing to transact cryptocurrencies on PayPal.

Those who want to make crypto money transactions on PayPal will be able to make their transactions through the leading units of the industry Bitcoin, Bitcoin Cash, Ethereum and Litecoin. PayPal users in the UK will be able to transact from this week. Users will be able to open trades with as low as 1 pound. They will also be able to instantly follow the values ​​of cryptocurrencies and access educational content.

The service, which was first launched in the USA, has successfully progressed:

paypal

PayPal first launched its cryptocurrency buying, selling, and custody operations in the United States in October 2020. Making a statement about the opening of transactions in the UK, PayPal’s Blockchain General Manager Jose Fernandez de Ponte stated that the service was successful in the USA and they expect the same success to be seen in the UK.

Transactions to be made via PayPal will take place thanks to the New York-based crypto money company Paxos. PayPal stated that it has obtained the necessary permissions from the authorities of the country to open the transactions in the United Kingdom.

  • This content is not investment advice.

Source :
https://www.cnbc.com/2021/08/22/paypal-crypto-service-launches-in-the-uk.html

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