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#TECHNEWS: PayPal to let UK users buy, hold and sell cryptocurrencies


Online payment company PayPal is to allow users in the UK to buy, hold and sell cryptocurrencies using its platform. Available on both its app and website, the service will initially be limited to four cryptocurrencies: Bitcoin, Ethereum, Litecoin and Bitcoin Cash.


It comes after the launch of the same service in the US which was then followed by a Checkout with Crypto feature, enabling PayPal users to actually spend their crypto when making purchases with online merchants.

The volatility and lack of regulation around cryptocurrencies, which are considered private money under English law, has often been seen as an impediment to their adoption by large payment companies such as PayPal.

Critics have often flagged how the potential anonymity offered by using crypto online has empowered cyber criminals and fraudsters operating on the internet.


Jose Fernandez da Ponte, vice president and general manager for blockchain, crypto and digital currencies at PayPal, said his company's new service could help introduce more people to cryptocurrency.


Read more / Reference: The Sun article


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