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PayPal & Paxos Bring Crypto to Millions of Users
I am very excited to announce that Paxos is powering PayPal’s new service enabling its US users to buy, hold and sell cryptocurrency directly from their PayPal digital wallet. This news includes many firsts and has huge implications for the PayPal community, the crypto industry and, of course, Paxos.
For the PayPal community, today is the first time its users can purchase crypto assets directly from PayPal. PayPal is introducing the ability for its users to buy, hold and sell Bitcoin, Ethereum, Bitcoin Cash and Litecoin. To start, PayPal is offering this service to its US customers, then plans to add more geographies and features over time.
https://www.paxos.com/paypal-paxos-bring-crypto-to-millions-of-users/?utm_medium=email&_hsmi=98015516&utm_content=98015516I am very excited to announce that Paxos is powering PayPal’s new service enabling its US users to buy, hold and sell cryptocurrency directly from their PayPal digital wallet. This news includes many firsts and has huge implications for the PayPal community, the crypto industry and, of course, Paxos.
For the PayPal community, today is the first time its users can purchase crypto assets directly from PayPal. PayPal is introducing the ability for its users to buy, hold and sell Bitcoin, Ethereum, Bitcoin Cash and Litecoin. To start, PayPal is offering this service to its US customers, then plans to add more geographies and features over time.
So, after all, PayPal Bitcoin service will just be an integration with an exchange. Your coins will be in Paxos.
I didn't know about that. PayPal is taking some risks here, especially its reputation is on the line.
Exchanges can be hacked. Exchanges are sometimes shady. I don`t trust any of them my bitcoins, and now I see that I wouldn't trust PayPal as well.
So, holding bitcoin in PayPal you are literally holding in Paxos.