PayPal has recently taken a huge step forward by providing customers with the option to use crypto assets at checkout. On March 30, 2021, PayPal announced that it has added an amazing feature to its platform that will undoubtedly revolutionise the way shoppers shop on the platform. Dubbed Checkout with Crypto, this feature is yet another way to expand the use and benefits of cryptocurrencies. Reaching millions of businesses around the world, PayPal is committed to providing users with the ability to make payments using cryptocurrencies. This feature has significantly changed the user experience, especially for businesses that operate through this payment platform.
The idea of paying for purchases with cryptocurrencies through PayPal
Users can pay with cryptocurrencies where they have the option to convert their cryptocurrency assets to fiat currency during checkout. It is worth noting here the fact that there is a guarantee of value, as well as the absence of hidden or additional fees. This feature is available to all PayPal customers and will be displayed at the time of ordering in the PayPal wallet, showing the presence of a cryptocurrency balance for the respective transactions.
While there are many ways to use digital currencies, there is a lot more behind the PayPal idea. It drives the adoption of digital currencies by providing flexibility to use the PayPal wallet. The step towards making purchases for businesses through cryptocurrencies is what is driving the massive adoption and ubiquity of digital assets.
An innovative way of transactions for business
Paying with cryptocurrency allows you to make transactions without worrying about additional PayPal fees for cryptocurrency or integration. All transactions are made in USD and then converted to the appropriate currency based on the PayPal conversion rate. If the user does not have enough funds to pay, PayPal comes to the rescue, as it allows customers to exchange their cryptocurrencies through this platform to pay off debts.
Here, the Checkout with Crypto feature has not overlooked PayPal’s desire to let users make their own decisions. This allows them to choose any payment method or currency.
Pay With Paypal Crypto Checkout
The Checkout with Crypto function is available to every user who has a sufficient amount of one type of cryptocurrency in their PayPal wallet. The balance must be sufficient to cover the purchase amount for the new PayPal feature to appear. It appears alongside other payment methods and allows users to act in the same way as other PayPal checkout methods.
The best part of Checkout with Crypto is that users can convert their digital currencies to fiat currencies like dollars and euros without paying a dime in commission. The feature will appear automatically during checkout, because the only thing it counts is that there are enough coins available to make the corresponding purchase.
As an alternative way to buy crypto such as Ripple (XRP) with PayPal is via a P2P Crypto exchange.
Conclusion
When it comes to working with cryptocurrency through PayPal, users can be sure that they will not face any kind of fraud or theft. However, if the user is still suspicious, they can contact PayPal customer support and report the problem immediately.
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