Bitcoin’s price has jumped this morning with news that Paypal will enable crypto trading to its users for the first time. Paypal has more than 300 million consumers and 26 million retail merchants across 200 global markets. Paypal announced that they’ve received the first virtual currency conditional license from the New York State Department of Financial Services through its partner Paxos.
Their release also emphasized the importance of expanding crypto’s use case: “the launch of a new service enabling its customers to buy, hold and sell cryptocurrency directly from their PayPal account, and signaled its plans to significantly increase cryptocurrency’s utility by making it available as a funding source for purchases at its 26 million merchants worldwide.”
Their service will launch in early 2021, and at launch, it will provide trading services for Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). The adoption of cryptocurrencies is happening. Consider adding crypto to your retirement before Paypal officially launches.