• PayPal Now Offers Cryptocurrency Services to Customers in the United Kingdom

  • PayPal is expanding its cryptocurrency service to the United Kingdom, allowing customers to buy, sell, and store four different cryptocurrencies on its platform.

    PayPal announced that users will be able to transact in bitcoin, ether, litecoin, and bitcoin cash for as little as £1 ($1.40).

    The rollout marks the first time PayPal’s crypto offering has been expanded outside of the United States.
    The process will begin this week and should be completed within the next few weeks for all eligible customers.

    In order to be eligible, customers must have verified their identity. PayPal business accounts will be ineligible for support.

    Last October, PayPal began offering crypto buying, selling, and holding to US customers, a move that was closely followed by bitcoin reaching new highs for 2020 and was one of the sparks that ignited the subsequent crypto bull market.

    The company has not yet allowed users to move their crypto holdings off-platform, but this may change in the future. At Consensus 2021 in May, Jose Fernandez da Ponte, vice president of blockchain, crypto, and digital currencies, stated that a withdrawal function is in the works.

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