Rumors suggest PayPal and Venmo may add support for cryptocurrency via exchange integration
https://cryptobriefing.com/paypal-venmo-planning-introduce-bitcoin-trading/
For those of us who use PayPal and who also hold Bitcoin, there are rumors we may soon be able to attach a bitcoin wallet address to our paypal accounts!
That would sure help with adoption.
I don't often actually use my BTC because as of now it is too costly and annoying to get fiat into crypto. Sounds like that all could be changing soon.
The report said..
How the Feature Might Work
The feature would allow users to buy Bitcoin and other altcoins directly from their online account by connecting to a third-party exchange such as Coinbase or Bitstamp. One of Coindesk’s sources stated:
QuoteMy understanding is that they are going to allow [buying and selling] of crypto directly from PayPal and Venmo…They are going to have some sort of a built-in wallet functionality so you can store it there.
QuotePayPal could source its liquidity from multiple cryptocurrency exchanges, one source reported. Another source suggested that PayPal and Venmo may add the feature within the next three months.
I am sure looking forward to see how this develops and here is how the rumors impacted the BITCOIN price today.
Crypto needs some energizing news and so do I.
That would be an interesting development... it would certainly solve a lot of the "barriers to access" issue. I like the idea. Coinbase already allows KYC (confirmed) accounts to cash out to PayPal, which I have used dozens of time... but being able to buy would be cool!
I haven't read into this yet. I wonder will we be able to buy goods and services with bitcoin instead of exchanging it for fiat first. I would like to bypass the exchange rate altogether.
You don't spend it because of...
Gresham's law is a monetary principle stating that "bad money drives out good".
Interesting point