PayPal Will Begin Accepting Bitcoin Payments from US Customers at Global Suppliers
By Luke F - Crypto Broker - 30-03-2021
PayPal's president and CEO announced on Tuesday that the finance giant is incorporating and investing in cryptocurrency as a means of exchange. Ahead of an official release, it was reported that the company's millions of global merchants will soon have the capability to receive and accept cryptocurrency as a means of payment.
On March 30, news broke about PayPal's reported decision to embrace buying and sellingBitcoin (BTC) and other crypto. Later that same day, the company's CEO, Dan Schulman, stated to Reuters that the reports were real and that an official statement will be issued soon.
The new system is supposed to provide a crypto checkout service where consumers can use their coins in their coin storage to pay for products and services at licensed vendors. According to reports, the system would enable merchants to equally transfer funds from crypto to GBP and other fiat currencies after coins are subjected to a fast transfer at the time of sale.
When it launches, the checkout feature will be offered for all four of PayPal's approved cryptocurrencies, so you can trade Bitcoin, Ethereum (ETH),Litecoin (LTC), and Bitcoin Cash (BCH) as payment in place of fiat currencies. Consumers who pay with coins would not be charged any transaction fee on transactions, but in order to transfer crypto to fiat, you can only do it 1 coin at a time.
When PayPal's plan to enter the crypto space was first revealed in October 2020, Galaxy Digital CEO Mike Novogratz referred to it as “the shot heard around the world” when talking about how Wall Street will respond to the latest announcement. PayPal made further move forwards into the crypto trading industry in early March, when they obtained the crypto protection company Curv in a $200 million transaction.
If you’re not sure where to buy Bitcoin online, just head over to BC Bitcoin where you can easily register an account to start making your Bitcoin investments.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards