Recent reports indicate that Fintech giant PayPal plans to roll out direct sales of cryptocurrency to its 325 million users within the next few months.
Currently, PayPal can be used as an alternative means for withdrawing funds from exchanges such as Coinbase, but this would be a first in terms of offering direct sales of cryptocurrency. Industry sources reported that the company plans to allow the buying and selling of crypto directly from PayPal and Venmo, as well as a built-in wallet functionality so users can store crypto on the platform.
Statments On PayPal Offering Direct Sales Of Cryptocurrency
Nicholas Pelecanos, Head of Trading at NEM:
“Bitcoin's adoption rate has always been hindered by two main factors: a lack of understanding of the asset and a lack of understanding on how to gain exposure. If PayPal does list Bitcoin to its user base, this will help solve the latter, while the buzz created by this news will address the former.....
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