PayPal will allow US users to pay with Bitcoin, Ethereum and Litecoin starting today

We already knew that PayPal plans to support cryptocurrency in the form of payment. And now, the online payment application announced that American customers can roll out their “Crypto with Crypto” feature today.

After rolling out the ability for US users to directly buy and sell cryptocurrencies directly from their accounts, PayPal’s new “Crypto with Crypto” allows users to quickly convert their Bitcoin, Ethereum, Litecoin, or Bitcoin cash into US dollars. Allows (with no additional) transaction fees) that PayPal then uses to complete the transaction. If a trader does not take US dollars, PayPal converts those dollars into local currency at the standard conversion rates set by PayPal.

If the user has “enough cryptocurrency balance to cover an eligible purchase” then this feature will automatically appear in the PayPal wallet, and you will be able to see your crypto balance for each type of coin in the app. However, you can use only one type of cryptocurrency for each purchase.

PayPal is not the first payment app to offer support for cryptocurrency. In 2018, its competitor, Square, launched support for bitcoin on the cash app. But the launch of cryptocurrency as a payment makes PayPal both a major digital wallet and a cryptocurrency exchange, which could streamline the use of cryptocurrency as a more common payment method. Last week during its Investors Day, the company reported that it was 377 million active accounts.