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Money Bitcoin rises sharply after PayPal's entry

14:20  22 october  2020
14:20  22 october  2020 Source:   finanzen.net

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Bitcoin and cryptocurrencies are often derided for their inadequacies compared to the giant traditional payment systems Visa, Mastercard, and PayPal , but an eventual challenge from bitcoin and crypto to the incumbents is not impossible The bitcoin price rose sharply in 2017 but has since fallen back.

That said, buying Bitcoin with PayPal isn’t impossible. You can make purchases using a third-party service, but it adds fees to your transaction. Furthermore, cryptocurrency transactions through PayPal are prone to scams, so you need to pay more attention to transaction details and whom you’re doing

The digital currency Bitcoin rose to its highest level since July 2019 on Wednesday. The payment service provider PayPal wants to make the purchase and sale of so-called cryptocurrencies possible.

Paypal-Kunden in den USA können künftig über die Paypal-Plattform Bitcoin und andere Kryptowährungen handeln und aufbewahren. © Jens Kalaene / zb / dpa Paypal customers in the USA will in future be able to trade and store Bitcoin and other cryptocurrencies via the Paypal platform.

The price of the oldest and most famous cryptocurrency rose 8 percent to $ 12,854. At the beginning of the week, Bitcoin had cost around $ 11,500.

PayPal customers in the USA will in future be able to trade and store Bitcoin and other cryptocurrencies via the PayPal platform. From January 2021, it should also be possible to pay with Bitcoin at merchants via PayPal.

“The starting shot for a year-end rally should have been given today at the latest,” explained Timo Emden, analysts at Emden Research. "For the industry, PayPal's entry into the crypto business could have a signal effect for other companies that have been pondering the implementation of digital currencies for a long time."

Soaring: Bitcoin rises to more than 14,000 US dollars .
As recently as March, the digital currency suffered severely from the pandemic. The payment service provider PayPal could have provided for the upturn. © Reuters In the spring, the price briefly fell below the $ 4,000 mark. The digital currency Bitcoin continues to soar. For the first time since the beginning of 2018, the oldest and best-known digital currency exceeded the mark of 14,000 US dollars (12,000 euros).

usr: 1
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