PayPal Users Begin Adopting Bitcoin (BTC)
As coinputin.com mentioned about PayPal yesterday, there are fresh news about PayPal users opinion about Bitcoin.
According to a survey, 17% of PayPal’s users in the United States have purchased Bitcoin.
A significant proportion of PayPal users benefit from the payment giant’s service to support cryptocurrency, a new study shows. Investment bank Mizuho Securities USA said it surveyed 380 PayPal users in the US to determine their level of interest in using the platform to buy Bitcoin. The Street said 17% of respondents had already purchased BTC using their PayPal accounts.
As for whether they would spend their bitcoins buying goods and services from PayPal’s 28 million online traders, 65% of those already trading BTC using the payment giant’s platform said they would consider doing so.
In addition, people who use PayPal to make Bitcoin Trade use the payment platform at a rate three times higher than users who do not trade with the largest cryptocurrency.
It can provide a 20 %increase
Dan Dolev, senior analyst at Mizuho, said he believes PayPal’s adoption of the cryptocurrency could deliver a 20% increase in revenue next year.
PayPal first began allowing its users in the US to purchase Bitcoin, Ethereum, Bitcoin Cash and Litecoin on November 13. Users are allowed to buy crypto up to $ 15,000 daily with a weekly limit of $ 20,000.
PayPal will expand its cryptocurrency services to Venmo in the first half of 2021. The company is working with fintech firm Paxos Trust Company to enable crypto trading and retention services.