PayPal launches cryptocurrency trading feature! Circle CEO: I bought 100 dollars' worth of Bitcoin

On the 22nd, PayPal announced that it will open up its online wallet to support the buying, selling, and holding of cryptocurrencies, sparking heated discussions. It has now achieved its first goal: in the coming weeks, the PayPal wallet for "U.S. accounts" will be able to buy, sell, and hold cryptocurrencies.

CEO: A New Milestone for the Market

Circle CEO Jeremy Allaire recently announced that he had just purchased $100 worth of Bitcoin, considering it a significant milestone for the market.

Jeremy Allaire bought $100 worth of Bitcoin at a price of $13,265 and did not incur any transaction fees. Some netizens joked that "there are no transaction fees because there are no actual transactions taking place" due to the fact that the four cryptocurrencies available for purchase on PayPal can only be held or bought and sold, but not transferred out.

Bought $100 in BTC on @PayPal ! Great milestone for the market! pic.twitter.com/jsxAxTpGgK

— Jeremy Allaire (@jerallaire) October 28, 2020

Next, PayPal has several stages to complete:

1. In the first half of 2021, PayPal will introduce cryptocurrency payment functionality, allowing users to shop at merchants that support PayPal and planning to open to users in other countries.

2. In the first half of 2021, PayPal will seek to integrate payment functionality into the U.S.-based electronic payment app Venmo. June reports: 300 million users at your fingertips! PayPal and Venmo rumored to launch cryptocurrency trading services.

3. Cryptocurrency payments will be converted into cash and directly provided to merchants to avoid volatility.