PayPal Adds Bitcoin Support to Its Mobile App

The payments company PayPal has added the ability to buy, sell, and transfer cryptocurrencies via its mobile app.

Now you can easily use your crypto with PayPal. Bring it into PayPal and send some to friends and family—all in one place. https://t.co/k24TVHoSYh pic.twitter.com/v0CeV9dNXa

— PayPal (@PayPal) August 15, 2022

The service supports Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. The minimum transaction amount is $1.

Users have access to internal and external transfers, as well as the ability to pay for purchases with digital currencies in “millions” of online stores, that support PayPal.

The company’s app provides access to educational content about cryptocurrencies.

«Note that we cannot protect you from losses resulting from market volatility. Transferring cryptocurrency on the blockchain also carries risk, and a transaction may be delayed or lost. Ensure you have thoroughly studied how to buy and sell properly» — warned customers.

In November 2020, PayPal opened access to cryptocurrencies directly through user accounts in the United States.

In April 2021, the company added support for Bitcoin, Ethereum, Litecoin, and Bitcoin Cash in its mobile payments service Venmo. That same month, PayPal CEO Dan Schulman noted that demand for digital assets exceeded expectations.

Earlier, the head of PayPal expressed confidence that cryptocurrencies and blockchain would revolutionize the financial system.

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