TechFlow news — On October 29, Beijing time, online payment company PayPal officially launched its Bitcoin buying and selling service. Users can purchase Bitcoin using their PayPal account balance, linked bank accounts, or debit cards. Credit cards or other credit products are not supported at this time.
When users buy or sell cryptocurrency assets, PayPal will charge the spread (or margin) between the market price obtained from its transaction service provider and the exchange rate displayed to users between U.S. dollars and cryptocurrencies.
On October 21, PayPal announced that it would follow global industry trends by launching cryptocurrency payment services. Users will be able to buy, hold, and sell cryptocurrencies through their PayPal accounts and use them for purchases at approximately 26 million merchants worldwide. The company stated that its digital wallet will initially support trading of Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
