PayPal Launches Its Cryptocurrency Service in the UK

PayPal is launching its cryptocurrency service in the U.K. From a report: The U.S. online payments giant said Monday it would let British customers buy, hold and sell digital currencies, starting this week. It marks the the first international expansion of PayPal's crypto product, which first launched in the U.S. in October last year. "It has been doing really well in the U.S.," Jose Fernandez da Ponte, PayPal's general manager for blockchain, crypto and digital currencies, told CNBC. "We expect it's going to do well in the U.K." PayPal's crypto feature lets customers buy or sell bitcoin, bitcoin cash, ethereum or litecoin with as little as 1 pound. Users can also track crypto prices in real-time, and find educational content on the market. Like the U.S. version of the product, PayPal is relying on Paxos, a New York-regulated digital currency company, to enable crypto buying and selling in the U.K. PayPal said it has engaged with relevant U.K. regulators to launch the service.

expecting

[etash]

the btc prices to go up a bit in frontrunning the paypal "investors" and then dumping on them, as they see losses of anywhere from 5%-20%

What I wanted

[DarkRookie2]

More horeshit and ads with Paypal.
If it wasn't for the one idiot friend I have, I would've termed the account long ago.
I want less stuff, not more.

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[account_deleted]

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Re:

[MrL0G1C]

Article confirms that, which makes the whole deal pure speculation only and how do you know if Paypal are really even buying any bitcoin when you give them some money. I bet they charge you a hefty transaction fee but they will only buy or sell the currencies the amount they hold differs from the amount customers bought by a large enough amount.

What even is the point other than speculation or criminal purchases, the transaction fees are high, the transactions are slow and it's an additional transaction laye

Oh great... (eyeroll)

[bumblebees]

So x years after banning me, my family and businesses for life for me selling some bitcoin via pp (bad idea in so many ways yes..) you suddenly turn around and start doing it your self. Any trust i ever had in that company is long gone.

Running the exchange

[cygnusvis]

Running the exchange is always profitable.

Why?

[jythie]

I really do not get PayPal's service. You can't move any coins from your own wallet into their service, you can't move them out, and it is really unclear if you can even use them to buy things without first 'selling' them back to PayPal first. I guess it shows that while they are hoping to cash in on speculation, the are really not taking them serious as a way to actually buy and sell anything other than money.