PayPal Now Lets You Buy and Sell Cryptocurrency
Here's how to get started
If you're interested in buying cryptocurrency, PayPal is now offering a new service that makes it easy to do so. The company announced the launch of its new service on Tuesday, which allows users to buy, sell, and hold four different cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
Getting started is easy
To get started, you'll need to create a PayPal account and link it to your bank account or debit card. Once your account is set up, you can start buying cryptocurrency by clicking on the "Buy and Sell" tab in the PayPal app or website. You'll then be able to select the cryptocurrency you want to buy and enter the amount you want to spend.
PayPal will then convert your funds into cryptocurrency and add it to your PayPal wallet. You can then hold your cryptocurrency in your wallet or sell it back to PayPal at a later date. There are no fees to buy or sell cryptocurrency with PayPal, but there is a spread that PayPal charges on each transaction.
PayPal only offers four cryptocurrencies for purchase
It's important to note that PayPal only offers four cryptocurrencies for purchase: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. This is a limited selection compared to other cryptocurrency exchanges, but it's still a good option for those who are new to cryptocurrency or who just want to buy and sell the most popular cryptocurrencies.
You'll be subject to a transaction fee
Another thing to keep in mind is that you'll be subject to a transaction fee when you buy or sell cryptocurrency with PayPal. The fee is 0.5% of the transaction amount, with a minimum fee of $0.99. This fee is higher than what some other cryptocurrency exchanges charge, but it's still relatively low compared to the fees charged by traditional banks.
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