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Cryptos More Mainstream; New Paypal Feature Lets Users Pay with Bitcoin, Ethereum, and More

posted by martyb on Tuesday March 30 2021, @09:06PM   Printer-friendly

MrPlow writes:

Submitted via IRC for TheMightyBuzzard

Cryptos Stride Further Into Mainstream As New Paypal Feature Lets Users Pay With Bitcoin, Ethereum & More:

The online payments giant has added a new 'Checkout with Crypto' feature, which is set to become available for US users from Tuesday. The service will allow those holding bitcoin, ethereum, bitcoin cash, and litecoin in their wallets to convert their tokens into US dollars or other fiat currencies while making purchases, with no additional transaction fees.

The option is set to automatically appear in people's PayPal wallets, but only one type of coin can be used for each purchase, according to the company. The fintech giant reportedly plans to enable the option at all of its 29 million merchants.

According to coinbase (as of 2021-03-30 20:35 UTC), Bitcoin was at $58,466 (+1.95%), Ethereum was at $1,840 (+2.04%), and BitCoin Cash was at $528 (+1.95%).

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  • (Score: 2, Informative) by Anonymous Coward on Wednesday March 31 2021, @04:51AM (1 child)

    by Anonymous Coward on Wednesday March 31 2021, @04:51AM (#1131529)

    Reported here: https://runningwithmiles.boardingarea.com/paypal-payment-network-reporting-stimulus-bill/ [boardingarea.com]

    Starting Score:    0  points
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  • (Score: 0) by Anonymous Coward on Wednesday March 31 2021, @09:23PM

    by Anonymous Coward on Wednesday March 31 2021, @09:23PM (#1131829)

    Thanks! From that page--
    > 1) IN GENERAL.—The amendment made by subsection (a) shall apply to returns for calendar years beginning after December 31, 2021.

    This advance notice gives me plenty of time to prepare, really appreciated.