PayPal opens transactions with four cryptocurrencies in Luxembourg

PayPal users in Luxembourg can now buy, sell and store bitcoins, Ethereum, litecoins and Bitcoin Cash.
As reports PayPal, for its customers in Luxembourg, the payment giant is opening up the possibility of buying, selling, and storing four cryptocurrencies: bitcoin, Ethereum, Litecoin, and Bitcoin Cash. PayPal also intends to provide users of its system with educational content that will answer the most frequently asked questions about cryptocurrencies so that they can understand the risks and opportunities that are associated with digital assets.
To make transactions with cryptocurrencies, customers in Luxembourg will need to have accounts in PayPal and manage them either through a mobile app or through the regular version of the site. To start buying, it is sufficient to have at least one euro in the account, and both the balance of the client account in PayPal and the bank account entered in the client account PayPal or debit cards that were issued in the European Union can be used for purchases. When selling cryptocurrencies through PayPal, funds will “arrive quickly” to the customer’s account, the organization said.
Previously, PayPal launched cryptocurrency services for customers in the U.S. (2020) and the U.K. (2021), and now the payment operator has come to one of the European Union countries with the same services.
PayPal, commenting on its new move, said that “it has become important in PayPal’s mission to make digital assets more accessible. We promise to continue to be in close collaboration with regulators and decision makers in Luxembourg to ultimately participate consciously in how digital assets will play a role in the future of global finance and commerce.”

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