PayPal, for the most part, supports using credit cards to make payments. Users can also reload their wallets and store it in PayPal, and link their bank accounts. All those are more or less to be expected and are somewhat traditional forms of payment. However, it seems that PayPal is looking to embrace a future in which cryptocurrency could become the new standard.
The company has recently announced that they will now allow its customers to buy, sell, and hold cryptocurrency like bitcoin. This means that if you’re a buyer or seller, you can choose to make payment using bitcoin or receive payment in the form of bitcoin, although the former might be a bit limited as not all retail platforms accept bitcoin or cryptocurrencies for now, but at the least option is there for those who are interested.
Speaking to Reuters in an interview, PayPal’s President and Chief Executive Dan Schulman said, “We are working with central banks and thinking of all forms of digital currencies and how PayPal can play a role.” Right now, the feature will be made available to US account holders over the coming weeks, but PayPal expects to expand to more countries in the first half of 2021, as well as bringing the feature to Venmo.