PayPal took a new step to expand its services related to Bitcoin (BTC). The online payment platform activated the “Checkout with Crypto “function today, March 30, which will allow its users to pay in online establishments and in the United States with their crypto currencies.
The option will only be available, for the moment, among US consumers who will be able to pay with Bitcoin (BTC) or other crypto currencies such as litecoin (LTC), ethers (ETH) or Bitcoin cash (BCH). PayPal said through a statement that the service will expand in the coming months to reach its 29 million affiliated merchants.
The company explained that users can use the available balance in crypto currencies that they have in their portfolio, but that merchants will receive national currency (fiat), that is, dollars. The platform is in charge of carrying out the conversion and settling the transaction.
«Customers who use “Checkout with Crypto ”will be able to make payments safely and easily, converting their crypto currency holdings into fiat currency at the time of purchase, with the certainty of their value and without (charging) additional fees », Explained the company.
The application will automatically display the available balance in crypto currencies on the screen, along with the rest of the options, so that the user can decide whether to pay with Bitcoin, for example, or send dollars directly. PayPal clarified that it is only possible to use one crypto currency per purchase.
Although the company highlighted that purchases with crypto currencies are free of commission payments, PayPal indicated that it will incorporate a convertibility margin when exchanging the BTC to US dollars.