Paypal allows trade in crypto currency, Bitcoin extends its gains

07:11 Tue, 24 May

GEO

USD

$ 2.8767

EUR

€ 3.0677

GBP

£ 3.6172

RUB

₽ 0.0493

TRY

₺ 0.0018

AZN

₼ 0.0170

Bitcoin

29,263.4000

Ethereum

1,986.2100

Bitchoin Cash

192.4680

Litecoin

69.8300

XRP

0.4110

21.Oct .2020 17:30

Paypal allows trade in crypto currency, Bitcoin extends its gains

521

Back

Bitcoin extended its gains on Wednesday after PayPal Holdings Inc. said it will allow customers to buy, sell and hold crypto currencies – Reuters reports. It was last up 3.2% at $12,305, just below its highest this year.

Fintech giant PayPal has already agreed to roll out direct sales of crypto currency to its 325 million users. Currently, PayPal can be used as an alternative means for withdrawing funds from exchanges such as Coinbase, but this seems to be a first in terms of offering direct sales of crypto.

Meanwhile, according to Coindesk, Fintech apps that offer crypto are making money. Square, the payments unicorn launched by Twitter CEO Jack Dorsey, rolled out bitcoin purchases in its Cash App in mid-2018. Cash App reported $306 million in bitcoin revenue in its most recent earnings report. London-based Revolut, which began offering crypto to users following a 2017 partnership with Bitstamp, raised $500 million in February, valuing the platform at $5.5 billion. Robinhood, the fintech app thought to be fueling the recent retail boom in equities day trading, first offered crypto in February 2018.

Bitcoin