“Our global reach, digital payments expertise, and knowledge of consumers and businesses, combined with rigorous security and compliance controls, provides us the unique opportunity, and the responsibility, to help people in the UK to explore cryptocurrency.” How can using PayPal help me to buy bitcoin? “ The pandemic has accelerated digital change and innovation across all aspects of our lives- including the digitisation of money and greater consumer adoption of digital financial services. There are an estimated 2 million regular monthly PayPal users in the UK, which means that the change could cause more people to start investing in crypto.Īccording to Jose Fernandez da Ponte, vice president and general manager of blockchain, crypto, and digital currencies at PayPal, this was because: It is likely that, with the support PayPal is offering to the crypto market, there may be further interest in cryptocurrency trading. They have partnered with the Paxos Crypto Brokerage to offer these services.įor people who are familiar with PayPal and the secure payment service they offer, crypto traders will be pleased to see that this company wants to meaningfully contribute to this innovative new sector. Why is PayPal getting involved in cryptocurrency trading?Īs you may have seen, PayPal recently announced in August 2021 that it will offer UK users the ability to buy, hold and sell four cryptocurrencies: bitcoin, ethereum, litecoin, and bitcoin cash. That’s why many investors are concerned about trading in crypto. With the large amounts of money being traded in bitcoin, the anonymity of accounts, and cryptocurrency’s decentralised nature, these markets can be a haven for scammers. The threat of scamsĪs I mentioned in my guide about how to buy cryptocurrency, one of the biggest problems with the lack of central control is that if you fall victim to a crypto scam, there’s very little you can do to get your money back. If you are unlucky, a market downturn could wipe out a large portion of your investments and this loss of wealth could impact your progress towards your life goals. While there is the potential for the value of your investment to rise significantly, there is also the chance for it to fall. The price fluctuations that make crypto attractive can also be a bit of a double-edged sword. Two of the biggest ones are: Price fluctuations Of course, while there can be major opportunities when buying and selling cryptocurrency, there can also be significant downsides too. What are the risks of buying cryptocurrency? Of course, if you want to get involved then it’s important to ensure that you’re using the best cryptocurrency platform for your needs. Of course, the reverse is also true as a market downturn could cost you a large amount of money if you aren’t careful. If you manage to time the market right, you could make a significant profit by buying and selling bitcoin. One of the most obvious reasons why people buy, hold, and sell bitcoin is that there is the potential to make a lot of money. According to the Guardian, bitcoin is now the world’s largest digital currency, with a market value of more than $1.1 trillion.Īnyone with a credit or debit card can explore cryptocurrency investment options and potentially make large profits. Since then, there has been a large rise in its value as many investors have seen its potential for significant gains. However, it was only really in 2017 that many people became aware of the role digital currencies could play in the modern economy when an investing boom caused the price of a bitcoin to surge to more than £12,000 each. With many people losing faith in global finance, some have turned to alternative ways to invest and transfer money. If you’ve seen any headlines in recent years, you can hardly have missed the rise of digital currencies such as bitcoin, ethereum, and litecoin. To find out more about how to buy bitcoin with PayPal, read this comprehensive guide for everything you may need to know. UK investors now have a valuable opportunity to decrease their risk exposure using this payment platform and you could benefit from this. If you’re interested in trading digital currencies, you might now be wondering how to buy bitcoin with PayPal. Thankfully, in August 2021, PayPal announced that they are now allowing UK users to buy Bitcoin and other cryptocurrencies, as they partner with the Paxos Crypto Brokerage. As you may know, there has been a significant rise in the number of bitcoin scams in recent months. Of course, while buying and selling digital currencies on crypto exchanges can be potentially very lucrative, many people have anxieties over how safe it really is. This bitcoin cash made many investors very rich and so garnered a significant amount of attention from the mainstream media. In recent years, there has been an explosion of interest in how to buy and sell bitcoin as the cryptocurrency saw strong growth.
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