Crypto Mining Blog

PayPal as one of the largest online payment processors in the world is seeing the potential that Bitcoin and crypto currencies in general have and they do want to take advantage of the Bitcoin and the technology that comes with it. So it is no wonder that PayPal is interested in supporting Bitcoin payments as well, but today there are more interesting news regarding the Bitcoin support from PayPal. Earlier this month the company has announced that businesses working with Braintree, a PayPal company, will soon be able to accept Bitcoin as a payment option through their partnership with Coinbase, a BTC payment processor. Today however came another big announcement from PayPal as the “next step in helping merchants accept Bitcoin payments”. PayPal has entered into agreements with leading Bitcoin payment processors BitPay, Coinbase and GoCoin. Starting today, these agreements let PayPal digital goods merchants accept Bitcoin with a simple integration through the PayPal Payments Hub. This will be available to merchants in North America first.

“To be clear, today’s news does not mean that PayPal has added Bitcoin as a currency in our digital wallet or that Bitcoin payments will be processed on our secure payments platform. PayPal has always embraced innovation, but always in ways that make payments safer and more reliable for our customers. Our approach to Bitcoin is no different. That’s why we’re proceeding gradually, supporting Bitcoin in some ways today and holding off on other ways until we see how things develop.”

The reaction of the crypto currency market to this announcement has caused a spike in the prices that were keeping quite low for a few days already, we’ll see if the upwards trend continues or it will be followed by another dump of coins.

– To read the full announcement from PayPal about their new support for Bitcoin payments…