A couple of weeks ago, PayPal announced a new cryptocurrency feature that will be introduced to its PayPal platform which will allow users to buy, hold, and sell cryptocurrencies directly from their PayPal account.
The feature is currently rolling out to the US customers, after which it will roll out internationally. The Cryptocurrencies in Paypal accounts can also be used to pay for purchases at 28 million stores worldwide.
According to the latest information obtained from Paypal via bitcoin news, PayPal reveals that they’ve only rolled out to 10% of their database as seen below;
We’ve only rolled this out to 10% of our base. We did that a couple of days ago. But our waiting list is 2 to 3 times what our expectations were. We are going to take up our $10,000 limit per day to $15,000 per day based on the demand that we are seeing.
“We’ll roll out to 100% in the U.S. in the next two to three weeks. Then we are going to expand internationally and we will expand into Venmo in the first half of next year,” he continued. “That’s what we starting with.”
For your information, people who have received this feature are already buying crypto directly from their PayPal account, testing the authenticity of the feature according to what PayPal reported.
Finally, the report also claims that cryptocurrency transactions are “immediately settled into fiat,” and you should see more integration and interesting things PayPal can do with cryptocurrencies.
Hopefully, by next year various countries should receive the crypto feature which is going to save a lot of stress in conversion and withdrawal of funds.