PayPal has already activated its service to buy and sell crypto-currencies from the app. While this removes the waiting list, it is only available to eligible accounts in the United States.
And to capture the users’ attention, this option to “Buy, hold and sell crypto currencies with PayPal” is displayed at the top of the main screen, as mentioned in The Verge. The user can choose between Bitcoin Cash, Bitcoin, Ethereum and Litecoin, along with a small amount of information about their rating and the option to buy.
Let’s remember that PayPal was already operating with a small group of users who were taken from a waiting list, but now it’s available to all US users. And to make sure everyone receives this information, PayPal will notify users via email over the next few days.
As mentioned in TC, PayPal is extending the weekly limit for buying cryptomoney from $10,000 to $20,000 due to high user demand. Maintaining a crypto-currency account will not require paying any fees, but users will have to pay the corresponding fee for transactions. However, PayPal will not collect these fees until December 31, 2020.
PayPal plans to extend the ability to make purchases and pay with crypto-currency from the app in early 2021, and then extend transactions to some international markets.