One frequently repeated phrase in the crypto space has been “global adoption.” More than ever before, we have seen people quit their jobs to become full-time investors. Crypto.com reports that the number of people who have joined the advances of cryptocurrencies doubled in the first half of 2021.
The involvement of institutional investors, central banks, and financial institutions in the crypto space has been said to be driving the global adoption of cryptos. PayPal is one such institution to have facilitated the adoption of cryptocurrencies.
Crypto Buying and Selling Is Now Available in the UK
PayPal is expanding its crypto services, which were first announced in October 2020, to include the United Kingdom. Initially only in the United States, the payments giant announced that it would be allowing its customers to buy, sell, and hold digital currencies through their PayPal accounts.
Ten months on, PayPal, which has over 403 million active accounts globally, is now embracing customers with verified identities in the UK. PayPal has recorded its highest activity in Europe, with over 2 million monthly active users in the UK.
This expansion will grant PayPal users in the UK the ability to buy Bitcoin, Ethereum, Litecoin, and Bitcoin Cash through their PayPal wallets both online and through the mobile app.
Skimming through the reactions of users on Twitter (NYSE:TWTR), DailyCoin has found that many had expected the addition of the UK to PayPal’s crypto services. In reaction to the news, Cameron, a crypto analyst, wrote;
“PayPal is finally allowing the purchase of #Bitcoin through its services in the UK. Even the payment dinosaurs know they need to be involved as much as they can be.”
GAINS Associates opined that it’s;
“Another massive win for @Bitcoin and the #crypto industry. Congratulations @PayPal
Source: Cryptocurrency - investing.com
