Bitcoin reaches $13k following PayPal’s entrance into crypto

2020-10-22 14:00

News of PayPal entering the cryptocurrency market triggered a rally in the markets, with Bitcoin surpassing the $13,000 benchmark for the first time since July

PayPal confirmed yesterday that it is entering the cryptocurrency market. The global payment service provider stated that it would allow customers to buy, hold and sell select cryptocurrencies. Initially, PayPal would only support Bitcoin, Ethereum, Bitcoin Cash and Litecoin. These cryptocurrencies can be purchased, sold or saved directly within the PayPal digital wallet.

The cryptocurrency service would initially be available to customers in the United States over the coming weeks. PayPal will be working on expanding the services to Venmo and other international markets in the first half of the next year. The cryptocurrency service via PayPal is made available thanks to its partnership with Paxos Trust Company, a regulated crypto services and products provider.

PayPal revealed that the increasing need for digital payments was the key reason behind its entrance into the market. The company intends to make it easy for people to use cryptocurrencies to pay for goods and services in various parts of the world. “PayPal Holdings, Inc. (NASDAQ: PYPL) today announced the launch of a new service enabling its customers to buy, hold and sell cryptocurrency directly from their PayPal account, and signalled its plans to significantly increase cryptocurrency’s utility by making it available as a funding source for purchases at its 26 million merchants worldwide”, the blog post added.

PayPal added that customers would easily be able to convert their selected cryptocurrency balance to fiat currency. They would enjoy the certainty of value and no incremental fees. The PayPal merchants will not be burdened with additional integrations or fees since all transactions will be settled with fiat currency at their current PayPal rates.

Bitcoin rallies past $13k

The announcement by PayPal propelled Bitcoin to surpass the $13k level for the first time since July and only the third time since the bull run of late 2017. Bitcoin has been trading in the five – figure region for the past twelve weeks, and the move above $13,000 solidifies its position in this region.

Following the PayPal announcement, Bitcoin went up by 10%, while Ethereum, Litecoin and Bitcoin Cash were also up by 8%, 15% and 9%, respectively. The Bitcoin price has lost its momentum and is now trading around the $12,700 region.

Although the rally didn’t last, some experts believe that PayPal’s entry into the market is a bullish sign as millions of new users will enter the crypto space through the company.

The post Bitcoin reaches $13k following PayPal’s entrance into crypto appeared first on Coin Journal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0070658 (-100%)

paypal bitcoin crypto entrance 13k reaches following

paypal bitcoin → Результатов: 126


Что значит сегодняшнее объявление PayPal для крипторынка?

PayPal разрешила клиентам из США использовать криптовалюту для оплаты. Пользователи, которые держат на своих кошельках биткоины, Ethereum, Bitcoin Cash и Litecoin, смогут конвертировать их в фиатные валюты в момент покупки в 29 млн торговых точек, которые работают с платежной системой.

2021-3-31 20:59


PayPal Says It’s a ‘Little Early’ To Embrace Bitcoin (With Its 125,000% Gains)

PayPal CFO John Rainey says it is “too early” for the company to invest in Bitcoin – despite the fact the cryptocurrency has appreciated 125,000 percent in 7 years. PayPal: We Love Blockchain Speaking in an interview with Yahoo! Finance this week, John Rainey said that the merchant experience of accepting Bitcoin payments was suboptimal due to market volatility.

2019-5-11 20:00


Основатель PayPal назвал bitcoin бесполезным платежным инструментом

Основатель и бывший CEO PayPal Билл Харрис заявил, что bitcoin — бесполезное и неэффективное платежное средство. По его прогнозу курс первой криптовалюты продолжит снижаться до тех пор, пока не достигнет нуля.

2018-8-16 21:02


Экс-глава PayPal: как средство платежа биткоин бесполезен

Бывший генеральный директор PayPal Билл Харрис полагает, что биткоин не может использоваться как средство платежа, и первую криптовалюту ждёт падение к значениям, близким к нулю. «Культ биткоина утверждает — btc мгновенен, свободен, масштабируем, эффективен, безопасен, глобально принят и полезен — он не соответствует ни одной из этих характеристик».

2018-8-16 14:53


Фото:

AMA With Origin Team Reveals Plans for Decentralized Sharing Economy

Matt Liu, Josh Fraser and former PayPal head Yu Pan want to bring the blockchain to the sharing economy. The trio is devising a platform with an emphasis on inclusive, peer-to-peer service hubs designed to decentralize the same consumer cost-friendly business models that have made companies like Airbnb, Uber and Lyft so popular in recent years.

2018-8-16 23:25


Экс-директор PayPal считает биткойн «бесполезным культом»

Бывший генеральный директор PayPal, Билл Харрис, заявил в Fast Money CNBC, что криптовалюта биткойн - бесполезный культ. Сообщение Экс-директор PayPal считает биткойн «бесполезным культом» появились сначала на Freedman.

2018-8-15 16:36


Фото:

Ex-Paypal CEO Labels Cryptocurrency ‘A Cult’ That’s ‘Headed Straight to Zero’

Today, PayPal CEO Bill Harris debuted on CNBC’s Fast Money where he provided a no holds barred lambast of bitcoin and other cryptocurrencies. Bitcoin is a “Cult” The world hasn’t heard much from Bill Harris since April 24th, when his inflammatory claims of Bitcoin being “the greatest scam in history” and “a colossal pump-and-dump scheme, the likes of which the world has never seen.

2018-8-15 15:00


Фото:

Square Crypto Trading App Beats PayPal’s Venmo With 3x Growth

Square Cash, a cryptocurrency-enabled trading app, is growing three times faster than PayPal’s fiat-based Venmo, trading giant Nomura has revealed. ‘More Than Just A Bitcoin Play’ The company’s Square Cash app, which added cryptocurrency functionality in January, has defied Bitcoin price trends ever since, growing its user base despite overall Bitcoin market activity decreasing.

2018-7-13 20:00


PayPal купил Hyperwallet за Ripple XRP?

PayPal согласилась заключить сделку стоимостью 400 миллионов долларов на приобретение компании Fintech Hyperwallet Systems Inc. Но заплатила ли компания по обработке платежей за приобретение с использованием наличных средств или с помощью криптовалюты Ripple (XRP)? Сообщение PayPal купил Hyperwallet за Ripple XRP? появились сначала на Freedman.

2018-6-29 17:20