PayPal officially rolls out crypto service to UK customers

PayPal officially rolls out crypto service to UK customers

By Onose Enaholo - min read
Updated 26 January 2023

Users can buy Bitcoin, Ethereum, Litecoin, Bitcoin Cash for as little as £1 via the PayPal website or app

All eligible PayPal users in the UK now have the opportunity to buy, hold and sell four major cryptocurrencies directly from their PayPal accounts, the US-based online payments giant has announced.

According to PayPal UK, the company's customers in the country now have access to a crypto service supporting Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).

"We are delighted to share that all eligible customers in the UK can now buy, hold and sell #Cryptocurrencies #Bitcoin, #Ethereum, #Bitcoin Cash & #Litecoin from their PayPal account. Look out for it in the PayPal app," the company tweeted.

While PayPal has only just added the crypto buying services to its platform in the UK, the original press release of the rollout came in August. This was almost a year after the company launched the service for its US market in October 2020.

The availability of the service to crypto users across the United Kingdom sees the firm fulfil the first phase of its planned expansion across the globe.

Apart from supporting the buying, selling or hodling of the four supported cryptocurrencies, the crypto feature also gives customers the chance to monitor and track prices in real time.

Customers can also use the application for due diligence, with the interface allowing one to access educational resources about the digital assets.

The company will offer the crypto service in partnership with Paxos Trust Company, a New York-based platform-as-a-service (PAAS) provider.