PayPal Launches Crypto Service For UK Clients

Payment company PayPal for the first time entered the cryptocurrency offering outside the US market, providingaccess to the service for users from the UK.PayPal began expanding into the cryptocurrency space last October, giving its US customers the ability to buy, sell and store Bitcoin, Ether, Litecoin, and Bitcoin Cash.

As in the US, service in the UK will becarried out through the mediation of Paxos. Withdrawing cryptocurrencies from PayPal to third-party wallets is still not possible, but the company has already said it is working on it. Investments are available from £ 1 or $ 1. British clients will not be able to invest more than £ 15k per week and £ 35k per year. In the US, the limit is $ 100,000 per week.

Against the background of the launch of PayPal crypto services in the UK, the digital asset market continued to grow, as a result, the price of BTC crossed the psychologically significant mark of $ 50,000:

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On the cryptocurrency service PayPal earns foraccount of commissions charged from users. For transactions over a thousand dollars in the United States, customers have to pay 1.5%, while purchases under $ 25 are subject to a 50 cents charge.

The manager of the cryptocurrency department of PayPal, Jose Fernandez da Ponte, noted that one of the main motivations for the creation of such a service was the "digitalization of money" during the pandemic.

“The global reach of our company, experience in digitalpayments and consumer knowledge, coupled with robust security and compliance measures, have given us the unique opportunity and responsibility to help people in the UK embrace the cryptocurrency space. "- he added.

Connecting UK PayPal customers toCryptocurrencies kicks off this week and is expected to be completed within a few weeks. To take advantage of the offer, the client must have a verified account.

Against the background of the release of news about the expansion of PayPal crypto services, the company's shares went up in the premarket.

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We will remind, earlier representatives of the payment system noted that they plan to earn $ 2 billion in cryptocurrencies by 2023.

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	FTX	https://ftx.com	7.5
3	Bybit	https://bybit.com	7.2
4	OKEx	https://okex.com	7.1
5	Exmo	https://exmo.me	6.9

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

• Work reliability&#8212; 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.
• Platform capabilities- availability of additional features: futures, options, staking, NFT, etc.
• 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.
• final grade– the average number of points for all indicators determines the place in the ranking.

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