Yesterday, PayPal made an announcement in a tweet that they have finally decided to enable the whole world to use its Checkout With Crypto service. This privilege allows crypto payments at the near 29 million traders worldwide who accept PayPal as a payment bridge.
This new app on PayPal allows you new ways to explore crypto. If you want to buy, sell, hold or even use it to checkout with millions of PayPal trades, Paypal leads the way.
PayPal payments using Checkout With Crypto
This year, in March, PayPal made public the upcoming release of its “Checkout With Crypto” payments service. This new update allows American users to make payments to millions of traders using cryptocurrencies from their PayPal wallets.
The CEO of Paypal said:
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your Paypal wallet”.
For now, payments can only be transferred by four main cryptocurrencies, as you are familiar with; Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
Dan Schulman, president and CEO of PayPal, mentioned:
“The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access. Efficiency, speed and resilience of the payments system. And the ability for governments to disburse funds to citizens quickly”.
“Our global reach, digital payments expertise, two-sided network, and rigorous security. Also, compliance controls provide us with the opportunity. In addition to the responsibility, to help facilitate the understanding, redemption and interoperability of these new instruments of exchange. We are eager to work with central banks and regulators around the world to offer our support. And also to meaningfully contribute to shaping the role. That digital currencies will play in the future of global finance and commerce”.
What happened in Paypal in last year
Last year in October, PayPal had also allowed some features to grow. Like the ability to sell, buy or hold cryptocurrencies through its PayPal wallet, in the US only. Now, at the end of October 2021, this unique service is also enabled for European users.
PayPal, has the most downloaded crypto app record
Based on the famous mobile app research company App Annie, Paypal crypto app is amongst the fifth most downloaded cryptocurrency apps in worldwide downloads. They reached 46 million downloads in the third quarter. These statistics shows an increase of 75% in comparing with the same period of last year.
As, we mentioned PayPal was the most downloaded cryptocurrency app worldwide. App Annie rated that about half of the total global downloads among the top five cryptocurrency apps was from PayPal in the September quarter alone. And this makes Paypal payment system very popular.