The world’s largest online payment gateway announced yesterday that all eligible PayPal account holders in the United States can now buy, HODL (hold their cryptocurrency) or sell currency tokens directly with PayPal.
The update states that users can connect to digital assets through the PayPal app or through their desktop accounts. However, digital currency associations do not agree on whether this will be to the benefit or detriment of Bitcoin in the long run.
It is worth mentioning that while eligible US users can buy or sell crypto assets, this is the whole facilities they can use at the moment. According to the terms and conditions of this payment gateway, you are currently unable to send crypto assets to your family or friends. At the moment, it is only possible to use crypto assets to pay for goods or services, or withdraw assets and send them to the user’s own wallets.
Although the society has been divided into two groups, the price of bitcoin seems to be rising significantly. BTC has grown by more than $ 6000 since its initial announcement and is at its highest annual figure since yesterday’s $ 18500 update.
All in all, it remains to be seen what effect this will have on Bitcoin in the long run, and whether PayPal will succeed in taking Bitcoin to its true place.