PayPal Introduces New Way to Use Crypto as Payment
American clients of web3 stores may now use PayPal, a global leader in online payments, to buy bitcoins and other cryptocurrencies.
PayPal On and Off Ramps is an addition to PayPal’s current service that facilitates the purchase and sale of PayPal-backed cryptocurrencies by users in the United States.
Customers in the United States will soon have an easier and more streamlined method to purchase and trade cryptocurrencies thanks to the PayPal On and Off Ramps that will allow wallets, dApps, and NFT markets to interact with PayPal’s payment network. In addition, the functionality will be protected by PayPal’s fraud prevention, chargeback, and dispute resolution features.
According to PayPal, Web3 stores may benefit from this by linking to PayPal’s secure payment platform and expanding their customer base. In addition, Americans with cryptocurrency wallets may now instantly change their holdings into fiat currency and add the funds to their PayPal accounts or other supported payment methods.
Here’s what PayPal had to say about the update: “By integrating Off Ramps, U.S. residents can exchange their cryptocurrency for fiat currency and transfer the funds to their PayPal account or other supported payment method.”
Merchants on Web3 may now use the PayPal On and Off Ramps, which are supported by MetaMask, a popular cryptocurrency wallet and browser extension.