PayPal Adapts Bitcoin; The Expansion Of Crypto Into The Finance Industry

Bitcoin

It’s no surprise how blockchain seems to be adopted by every industry there is. The world has completely accepted this decentralised way of life, and it is only growing stronger by the day. Newer, more secure, and much more versatile applications of blockchain are being developed every day, and it only signifies the importance of blockchain in our lives and just how much ease it stands to provide us. So, as more and more people embrace cryptocurrencies, it’s no shock that the high-frequency field of finance has started to adopt this technology. Major financial companies have started to realise the immense benefits blockchain has to offer, and PayPal is among the latest financial companies to do just that! 

We’re all familiar with the PayPal application and its diverse range of functionalities that are incredibly easy to use. But what’s changed is that users can now use the PayPal application to purchase, transfer, and sell BTC, BTH, ETH, as well as LTC. At this stage, you might be wondering why we’re highlighting the fact that there’s now an application where you can buy, sell and trade crypto when there are hundreds of applications and services on the internet that have been doing it for longer. But, a major financial entity like PayPal, which has existed for decades, catering to customers for years, has accepted the decentralised currency. That is exactly what we’re trying to highlight, the normalisation of crypto at this scale and by a major company that the entire world has entrusted for decades. 

PayPal is advertising security more than any other aspect of its crypto adaption. The finance giant is offering reimbursement to its customers for up to $50,000 in case of any unauthorised transactions. On top of that, PayPal is taking the initiative in teaching its users about crypto directly through the PayPal application. All of this is tied up neatly in a package, the PayPal application. The ease of use allows PayPal users to transfer crypto to their friends and family in simple steps, that too without any service charges. But, of course, if the crypto is being transferred to someone outside the network, it would deduct some service fees, which is normal for any crypto transfer. 

Everything is, of course, fully licensed by the concerned authorities, and that is what allows millions to trust PayPal. But, perhaps the most advertised feature of the PayPal application is the “checkout with Crypto” option. Users can shop online and simply use PayPal to pay with their crypto coins. Everything seems perfect, doesn’t it? Wait, there’s more.

Bitcoin

The problem with these massive finance companies, like, of course, PayPal, is that they have to be reliant on a lot of different, and let’s face it, often unnecessary regulations bodies that vary based on countries and origins. This puts a lot of different restrictions on the platform and hinders the usage of the service. That is why PayPal is only offering this particular service in the US. People outside the US cannot avail of this service. That presents an issue for citizens outside the US because they simply do not have the option to buy, sell, transfer or pay with crypto. So, if you’re located outside the US, you won’t get to experience PayPal’s crypto debut. A bit anti-climatic, isn’t it?

There’s no denying the fact that cryptocurrencies are the future of all things money, so it stands to reason that crypto bears a lot of importance in the finance world. Even though the decision might be deemed “bold” by the majority, PayPals initiative significantly normalises the use of cryptocurrencies in the finance world. A major finance company entrusting the use of crypto is bound to make the public realise the immense benefits of blockchain. But it’s not all sunshine and roses. 

PayPal’s “pay using crypto” is based on the concept of keeping crypto short-term, and crypto experts always focus on the fact that crypto is meant to be a long-term investment. Another thing to highlight is that the PayPal application is just making it too easy to buy this highly volatile currency. This might prove to be harmful, seeing as we are tempted to do this without any financial advice or safety net to fall on. So, is there a safer way to do this?

A trusted, experienced and diversified third-party crypto platform might be the answer to your problems. A trusted service like Voltcoins allows crypto trading on a global scale and makes it that much more professional. Voltcoins offers an incredibly fast KYC process and transactional execution. Offering payments using Credit Cards, Bank Wire Transfers, and Interac, Voltcoin is a bespoke crypto trading platform. Offering a wide range of cryptocurrencies to buy from, you can pick between Bitcoin (BTC), LiteCoin (LTC), Tether (USDT), and Ethereum (ETH). The order process Voltcoins offers is straightforward and designed to offer maximal ease of use for crypto buyers!