(Disapprove for Terrible writing) PayPal interest in cryptocurrency can increase the price of Bitcoin to $500,000
In June, one of the most popular payment methods, PayPal, was rumored to list cryptocurrency on its platform. This might mean a lot to cryptocurrency investors, as more than 325 million active PayPal users will be able to use Bitcoin as a payment method. This can attract investors to be interested in cryptocurrency. Although due to Bitcoin's slow transaction confirmation, Ethereum might be the coin to take full advantage of PayPal listing, the Ethereum 2.0 upgrade plans to enable a faster transaction of ~2000 - 3000 transactions per second.
The company is currently hiring blockchain and cryptocurrency specialists, this means that the cryptocurrency features could be launched soon.
PayPal allows users to buy cryptocurrency with Pundi X POS
Pundi X is a Singapore based blockchain firm, they are responsible for the creation of Xpos and NPXS cryptocurrency. Paypal has become the first mobile PayPal gateways to be integrated with Xpos.
Not only Xpos that PayPal has gotten integrated with but, last week PayPal was added KuCoin P2P Fiat Market, they also introduced a payment gateway to buy cryptocurrency with PayPal using your PayPal balance.
Why PayPal involving in cryptocurrency means a lot
PayPal is one of the most used payment methods online, it supports multiple countries and has many active users. If PayPal is able to successfully integrate Bitcoin and other cryptocurrencies as payment methods, we should be expecting a sudden spike in the number of daily transactions on Bitcoin or Ethereum. Cryptocurrency might also become demanding as many PayPal users might want to credit their PayPal account with Cryptocurrency. More than 10,000 websites that integrate PayPal as a payment method or payment gateway should be able to use Bitcoin as a payment method if possible.
Disclaimer
The views and opinions expressed in this article are those of the contributor and do not necessarily reflect the view of Blockchain. News. Investors should be well aware of the volatility of cryptocurrencies and conduct their own research before making investment decisions.