It’s Time To Take Crypto Services Global. PayPal Expands Into The UK

Payment platform PayPal has started expanding its cryptocurrency trading services to other parts of the world, and it begins with the United Kingdom.

PayPal’s Crypto Service Now Available In The UK

PayPal, one of the leading online payment companies in the world, announced earlier today that it has rolled out its cryptocurrency trading services to its customers in the UK. The service will allow UK customers to buy, hold and sell Bitcoin and a few other cryptos using PayPal.

In a blog post earlier today, PayPal said UK traders can now gain access to a wide range of cryptocurrencies on its platform. PayPal said, “Customers can choose from four types of cryptocurrencies—Bitcoin, Ethereum, Litecoin and Bitcoin Cash. By accessing their PayPal account via the website or the mobile app, they can view real-time crypto prices, access educational content to help answer commonly asked questions, and learn more about cryptocurrencies, including the opportunities and risks.”

PayPal launched its crypto trading service in 2020. However, the company had limited it to only traders living in the United States. PayPal has now started to expand the service to its millions of customers in other parts of the world.

At the moment, PayPal has over 400 million customers globally, and it wants to ensure they find it easy to buy, sell and hold cryptocurrencies. The payment giant revealed a few weeks ago that it is working on ensuring its customers can withdraw their bitcoins and other cryptocurrencies to external wallets.

PayPal’s payment app Venmo also launched a crypto trading service, but it is currently limited to traders in the US.

Bitcoin reaches $50k

Bitcoin and the broader cryptocurrency market have been experiencing massive growth in recent months. The market is recovering from the slump that had affected prices in the previous three months.

BTC is now up by 2.2% over the past 24 hours and is trading above the $50k level for the first time since May. The leading cryptocurrency would now be looking to recapture its all-time high of $65,000 over the next few weeks or months if the current market condition is maintained.