PayPal, the leading payment processor, now allows U.S. customers to check out using cryptocurrencies.
Before the official announcement, Reuters announced that the payment solution Bitcoin, Ether, Bitcoin Cash and Litecoin will be enabled by the PayPal giant.. Customers with enough encryption holdings to cover the cost of the transaction will be provided with the new feature. It works without additional costs by converting encryptions to US dollars. It has some additional costs, however, which turn dollars into another currency.. In addition, only one digital asset type can be used per transaction, which means that clients cannot combine their cryptographic holdings to pay for a single item.
After the new feature, Bitcoin and other cryptos can be used by customers to check out at 29 million retail locations.
Advantage of first mover
The supremacy of cryptography among conventional payments seems a continuous war. On Monday, Visa (NYSE:V) launched their initiative to help Bitcoin buy from banks to settle transactions on the Visa payment network, announcing that they will start using digital assets.
A further payment giant, Mastercard (NYSE:MA), also suggested support for Bitcins and crypto in over 35 million trading sites.