SAN FRANCISCO—PayPal has launched a new crypto service called Cryptocurrencies Hub, which allows a select group of users to hold, trade, receive, and purchase Bitcoin and altcoins within their PayPal accounts.
According to PayPal’s latest updates in terms and conditions, apart from crypto sale and purchase, users can convert between PYUSD and other crypto assets, and access market information and content, CoinTelegraph reported.
The firm also noted that when you buy cryptocurrency, you are not holding digital coins or tokens. Instead, consumers buying a record of ownership of those coins or tokens, the company said.
Conditions Must Be Met
To use PayPal Cryptocurrencies Hub, consumers must meet several conditions, including personal account and balance account in good standing, verified identifying information, and only in select locations.
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