PayPal Will Now Let You Pay For Goods Online With Bitcoin, Ethereum, And Litecoin
PayPal is letting people in the United States make payments via Bitcoin, Ethereum, and Litecoin as of today. People can use the “Checkout with Crypto” option that’s rolling out right now.
PayPal’s new “Checkout with Crypto” option allows users to instantly convert crypto like Bitcoin, Ethereum, and Litecoin to US dollars.
There are no transaction fees and even those paying merchants that don’t accept USD are good – PayPal says that it will simply convert the crypto into whatever currency they use using the standard conversion rates available.
According to a report by The Verge, users will see a new option automatically appear in their wallets when the feature is available to them.
The feature will automatically appear in the PayPal wallet if a user has a “sufficient cryptocurrency balance to cover an eligible purchase,” and you’ll be able to see your crypto balances for each kind of coin in the app. However, you can only use one type of cryptocurrency for each purchase you make.
Following the news that Tesla is now accepting Bitcoin for car purchases, this is just the latest example of crypto becoming more and more mainstream, regardless of the volatilities associated with it.