When you want to make online transactions, financial security is of utmost importance. PayPal and cryptocurrencies ensure transactions to be made that see a limit on the amount of personal information revealed.
It’s good news therefore that PayPal have now announced that their payment system can be used to transfer, send and receive several key cryptocurrencies. This will apply to Bitcoin, Litecoin, Ethereum and Bitcoin Cash.
A growing number of online sites have accepted PayPal as a payment method. It took a little while for this to happen but as they saw the plus sides on its use re financial security. Their use makes customers more at ease as no one wants to be the victim of any online fraud.
One reason this safety is increased is because of the amount of personal information that is available to the potential fraudsters.
All that is required to be given to the online casino is the email address used for the PayPal account. If fraud does occur, then those looking to steal your personal details are going to be in for some disappointment.
The swiftness of transactions when using PayPal is also important. Cash flow is important and if making a deposit or withdrawal, the funds are transferred very quickly rather than a few days when using other payment methods.
That’s very useful when you play at an online casino. Both with PayPal and now with cryptocurrencies, every element of your financial transaction is completed swiftly. It’s good therefore to look for a list of Paypal casinos that accept these payment methods.
PayPal has been established for a fair while now. Cryptocurrencies are still relatively new and have had to battle for acceptance as a payment method that can be used safely.
As the years have passed, companies have carried out that research and concluded that they are safe to offer as a payment method. There are still concerns over the volatility of cryptocurrencies and that’s something a very close eye will be kept on by online sites.
It was in October 2020 that PayPal began allowing the use of some cryptocurrencies. There’s been a long wait since then for the news that came on June 7, 2022. Although the cryptocurrencies could be used on PayPal, it was not possible to move those digital assets away from the platform.
Now that’s all changing. It will now be possible for US customers to be able to make such transfers. PayPal made the decision after paying attention to what their users were telling them.
Being able to make such transfers had been one of the most requested enhancements they’d received since beginning to offer crypto purchases. The fact they have gone and made these changes shows respect for their users. News of the change saw the share price of PayPal show a slight increase.
Eligible US customers will be able to transfer coins supported by them into PayPal. They will be able also to send crypto to their family and friends. Those transactions will be completed in a matter of seconds and there’ll be no fees charged.
That’s one of the key reasons that PayPal and cryptocurrencies are so popular with those who want to make financial transactions online. Cash flow is so important, and these payment methods are ideal for that.
PayPal is a company that never wants to be caught standing still. They realize that crypto assets are becoming increasingly popular, and they need to be able to make it easier for customers to use them. They also love being the first to do something and PayPal has become the first company to turn a conditional Bitlicense into a full one.
That is now the case after being granted the full Bitlicense by the New York Department of Financial Services. PayPal is always keen on innovation, especially if it also happens to be achieved in a responsible manner.
They want to improve the accessibility and utility of digital currencies but will ensure that they have the best practices and don’t break any regulations. It’s another step in their desire to create a “more inclusive and effective financial system.”
With these transfers of cryptocurrencies at PayPal now available, companies will hopefully be more prepared to use them as a payment method. The news that PayPal is also introducing an additional identity verification process will also be welcomed by online customers.
This will see even more protection of personal details and again no fees will be incurred, though there might be a sender and network ones to pay.
It seems then that the future looks bright for both PayPal and cryptocurrencies. This and other changes that are likely in the future will see more companies accepting them as payment methods. If the values of cryptocurrencies were to be more stable, then that future would be even rosier.