California-based fintech giant PayPal adds cryptocurrency features to its mobile app. Starting from August 15, the application users can easily buy, sell, and transfer several cryptocurrencies: Ethereum, Bitcoin, Bitcoin Cash, and Litecoin.
According to the official website, the funds remain protected without any digital key. The mobile version will only support internal transfers and does not require a MetaMask account. Despite frequent hacks within the Web3 sphere, beginner cryptocurrency holders might be content with PayPal’s familiar interface.
On a side note, the website provides educational articles about cryptocurrency, volatility, and tax regulations.
It’s worth noting that the mobile app allows users to start with a $1 balance. However, the company applies network fees when transferring crypto to or from PayPal accounts. Speaking of which, PayPal has been open to cryptocurrencies for two years now. The platform first introduced the option to buy, sell, and hold digital assets in October 2020.
"Keep in mind that we cannot protect you fromlosses due to market volatility. The transfer of cryptocurrencies on the blockchain is also risky and the transaction can be delayed or lost. Make sure you study carefully to buy and sell correctly,” the company warned customers.
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source https://www.reddit.com/r/btc/comments/wqymv0/paypal_adds_support_for_bitcoin_in_mobile_app/
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