PayPal Opens Cryptocurrency Trading For UK Residents

This is the first extension of the service to work with digital assets of a payment company. Previously organizationallowed only US residents to work with cryptoassets.

Payment company PayPal announced admissiontheir UK clients to trade and hold cryptocurrencies. Starting September 17, UK residents can use the PayPal mobile app to work with Bitcoin, Bitcoin Cash, Ethereum and Litecoin. This is the first expansion of a payment company's cryptocurrency service. Until this point, the payment company only provided access to digital assets to its US customers.

At the end of August, PayPal announced that it would expandthe action of its cryptocurrency service on UK citizens. Then the payment company reported that UK users will also have access to educational content and will be able to track the rates of digital assets in real time.

In July, PayPal increased the weekly limit bypurchase of cryptocurrency for some US clients up to $ 100 thousand. Previously, users could purchase digital assets for an amount not exceeding $ 20 thousand. In May, the payment company allowed users to withdraw cryptocurrency to third-party wallets.

US PayPal customers now have the option topay with cryptocurrency back in March of this year. Digital coins are converted to fiat at the time of payment. US users gained access to cryptocurrency through PayPal services in November 2020.

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