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PayPal will start supporting bitcoin and other cryptocurrencies on its platform

PayPal will begin supporting Bitcoin and other cryptocurrencies, allowing users to buy, hold, and sell cryptocurrency directly from their PayPal account, the company announced on Wednesday. There are however, two potential caveats: users, at least for now, cannot use those cryptocurrencies outside of PayPal, and paying for things using cryptocurrencies even within PayPal’s ecosystem will only be possible early next year. PayPal is not the first payments company to support cryptocurrencies, but it is arguably the most significant one so far. Jack Dorsey-backed payments company Square added support for Bitcoin in 2018. However, PayPal supports more currencies than just that. Aside from Bitcoin, Paypal also supports other popular cryptocurrencies such as Ethereum, Bitcoin Cash, and Litecoin. Also, there are no service fees when buying or selling cryptocurrency until December 31, 2020, and there are no fees for holding cryptocurrency in…

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