PayPal is one of the biggest digital payment platforms which is now getting more popular as people are doing more international transactions. It is a very secure platform through which people can transfer funds and exchange currencies. This platform has been constantly improving since its inception and now it is proving to be more useful than ever. The increase in its popularity could be because of people being more aware of the security aspect of digital payments or because of an increase in international transactions and shopping.
Paypal As A Giant In Funds Transfer
In recent days, PayPal is being used as an alternative method to withdraw funds from various exchanges worldwide. With consistent evolution and new methods of transaction, PayPal has become the first online payment platform that is going to offer direct sales of cryptocurrency. Information is coming from plenty of news sources that PayPal is going to allow buying and selling of cryptocurrency which is going to be implemented with its full functionality very soon. Sources also say that they may have a specialized built-in wallet functionality that will help users to store their records as well as cryptocurrencies.
The amount and other details of how many cryptocurrencies would be available on PayPal are still unknown. According to sources, they are working with multiple exchanges in order to source liquidity through it. The buying and selling options of cryptocurrencies through PayPal can be expected in as soon as three months or even sooner.
There Are No Comments On This From PayPal And Their Long Term Crypto Partners CoinBase
Neither PayPal nor CoinBase has said anything about this news. There might be some confirmation in days to come. If users will be able to buy and sell bitcoin on PayPal then it will be a huge jump for the cryptocurrency market. Also, with the increase of Blockchain technology, the use of this currency is going to increase, and hence users will soon need a platform through which they can easily do the transactions.
One more important thing to note is that cryptocurrencies are entities in which more and more people want to invest. The change in the value of these coins makes them a potential investment entity. There was a wave when people wanted to invest in cryptocurrencies, especially in bitcoins.
PayPal Hiring For Research On Blockchain Technology
At the start of this year, PayPal decided to hire workers who can work for them and ramp up their Blockchain Research Group. They are the ones who have always wanted to create a platform that allows users to have an open digital payment platform that can serve them.
Though PayPal’s Chief Technology Officer was not able to make any comment on the future plans of PayPal, he made it clear that PayPal believes in the potential of blockchain, and that digitization of currency can bring wonders to the transaction system all around the world. This might be a decision that will change the way crypto and digital payments are being used right now. Blockchain is coming to the forefront and now it is all about the future.