It was very big news recently that Paypal will allow the use of Bitcoin, Ethereum and Bitcoin cash and other cryptos on its platform. However, the devil is in the detail. Initially at least, users will only be able to buy crypto on Paypal and use it to buy products and services. It will not yet allow the transfer of crypto holdings from other wallets, nor will it allow the merchants to receive crypto, instead they will receive the equivalent amount of fiat currency. Note too that Paypal will be charging a reasonably high fee for this service, at around 2%.

Hopefully, Paypal will become more open to crypto transfers and use of other wallets in the future. Plus lower their fees to use crypto. But it is most certainly a step forward for crypto and has most certainly raised the profile of crypto with the average person on the street.