PayPal added cryptocurrency payment functionality

PayPal has allowed US customers to use cryptocurrency to pay for goods and services.Users whokeep Bitcoin, Ethereum, Bitcoin Cash and Litecoin on their wallets, will be able to convert them into fiat currencies at the time of purchase in 29 million outlets that work with the payment system.

PayPal's announcement marks another milestone inglobal acceptance of cryptocurrency as a means of payment and strengthening its fundamental importance. This development follows a string of other announcements - Tesla's recent announcement and Visa's latest - but it is different in that it covers a huge number of merchants (29 million, according to PayPal's announcement) and therefore potentially customers around the world - subject to appropriate country legislation and having access to full functionality.

The solution is implemented through conversioncrypto assets at the time of payment. In other words, when a user transfers funds, the required amount of cryptocurrency is debited from his account and automatically converted into fiat. It is the fiat currency that the seller receives.

This functionality will be available in 29 million retail outlets in the next few months. The service is called Checkout with Crypto.

“For the first time, we are opening the possibility of the free use of cryptocurrencies. You can use them to pay for purchases in the same way as with a credit or debit card,— PayPal CEO Dan Shulman said.

In our opinion, cryptocurrencies are experiencing nowtipping point: they are no longer just an asset class that you buy, hold or sell, they are now legal tender. ”

The company will not charge any fees for paymentgoods and services with cryptocurrency. The Checkout with Crypto function will automatically appear in the user's wallet if he has the required amount of crypto assets to pay.

Let us remind you that in October 2020PayPal has added functionality for buying, selling and storing cryptocurrencies. In its fourth quarter 2020 report, the company announced plans for the future. Thus, Shulman announced the imminent launch of a service that allows you to pay sellers with cryptocurrency. Checkout with Crypto is that service.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Bybit	https://bybit.com	7.5
3	OKEx	https://okex.com	7.1
4	Exmo	https://exmo.me	6.9
5	Huobi	https://huobi.com	6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• Platform Features– availability of additional features — futures, options, staking, etc.
• final grade– the average number of points for all indicators determines the place in the ranking.

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