PayPal as a potential trigger for mass adaptation of cryptocurrencies worldwide

PayPal as a potential trigger for mass adaptation of cryptocurrencies worldwide

Today is one of the most important days for cryptocurrencies, thanks to PayPal and their decision to accept cryptocurrencies.


21 Oct 2020 , 17:31 @ Matey Salt

PayPal as a potential trigger for mass adaptation of cryptocurrencies worldwide

Today is one of the most important days for cryptocurrencies, thanks to PayPal and their decision to accept cryptocurrencies.

Reuters was the first to report today, saying Paypal Holdings Inc. allows its customers to use cryptocurrencies. Paypal will probably soon become the most important factor that can trigger the mass adaptation of cryptocurrencies worldwide.

We are working with central banks and thinking of all forms of digital currencies and how PayPal can play a role

President and Chief Executive Dan Schulman

Let’s look at the important facts:

  • Paypal is currently used in more than 200 countries around the world
  • The company has 346 million active accounts around the world and processed $ 222 billion in payments in the second quarter
  • If it were a bank, PayPal would be the 21st largest bank in the US
  • The average PayPal user conducts 36.9 transactions per year
  • 87.5% of online buyers use PayPal
  • PayPal employs around 23,000 workers worldwide

The fact that PayPal decided to support the global use of cryptocurrencies was immediately reflected in the price of Bitcoin, which has risen by almost $ 1K today and is probably not over yet.

One thing is therefore more than certain at the moment, and that is the fact that this report is just the beginning of a real and massive increase in interest in cryptocurrencies, which will only begin when this service enters into force and is used by more and more customers every day.

Read also: The Biggest players in the Swiss private banking sector are investing in digital assets

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    Matey Salt

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