PayPal customers in the USA can now pay with BTC, LTC, ETH and BCH at millions of online stores around the world. The Checkout with Crypto feature converts users' crypto holdings to fiat currency at checkout and no additional transaction fees.
The option will automatically appear in the PayPal wallet at checkout for customers with sufficient cryptocurrency balance to pay for the corresponding purchase. PayPal says Checkout with Crypto is providing a new way for businesses to receive payment. All transactions are made in US dollars and are converted to the applicable currency.
This feature came about shortly after PayPal started offering its users the ability to buy, store and sell cryptocurrency directly from their PayPal account. According to PayPal CEO Dan SCHULMAN, the implementation of Checkout with Crypto gives PayPal customers choice and flexibility in their payment methods. The introduction of the new PayPal feature has triggered a rise in the price of bitcoin by more than $1,000. At the time of this writing, the price of bitcoin was $58,317.