bitFlyer Europe adds ability to buy Bitcoin with PayPal

The European arm of the cryptocurrency exchange bitFlyer announced an integration with the PayPal payment system. PayPal account holders can now fund in euros to purchase cryptocurrencies.

We have some exciting news! 💥
Making the jump into #cryptocurrency is now easier and faster.
You can now use your @PayPal account to deposit funds to purchase cryptocurrencies via #bitFlyer.

Start trading today: https://t.co/c1tIKyDSe8 pic.twitter.com/JxPGpyvJtT

— bitFlyer Europe (@bitFlyerEU) September 21, 2020

bitFlyer Europe has become the only exchange to date offering such a capability.

Coinbase only allows withdrawals to PayPal accounts. P2P platforms LocalBitcoins and Paxful allow their customers to pay with PayPal, but the integration is not direct — trades occur using personal accounts. On the investment platform eToro, such a service is available only to residents of the United States.

PayPal will be added as an option on bitFlyer Europe’s deposit page. The transfer will be carried out almost instantly, whereas the current options may require waiting up to three days.

The Japanese cryptocurrency exchange bitFlyer opened its European unit in January 2018 after obtaining a payment operator license to operate in the EU. In November 2017 the company began operations in the United States, having obtained a BitLicense. bitFlyer has been included in Bitwise’s list of ten Bitcoin exchanges worthy of trust.

In July, PayPal selected Paxos to manage cryptocurrency assets within the new service. In June, media reports indicated plans for PayPal and Venmo to add the ability to buy and sell cryptocurrency in the coming months.

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