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Cash, credit, or crypto?INTL

Cash, credit, or crypto?

If you needed another excuse to consider cryptocurrencies as mainstream — PayPal (PYPL) is adding a new checkout feature that will allow customers to use cryptocurrencies to pay for products at millions of online businesses.

The feature, called Checkout with Crypto, is currently being rolled out in the US (don’t worry, though, it will be rolled out globally in the coming months). At checkout, customers will “sell” their crypto holdings, allowing PayPal to settle the actual payment in US dollars. Need more convincing? There will be no additional fees — win-win!

For now, customers can choose from the following digital currencies: bitcoin, Litecoin, Ethereum, and Bitcoin Cash. The option will automatically appear alongside traditional payment methods, such as PayPal balance and debit card (for you old-school people out there!).

why it matters
PayPal is serious about crypto! Its previous investments include the acquisition of cryptocurrency security startup Curv and partnership with regulated blockchain infrastructure platform Paxos. Others are also making moves — Tesla (TSLA) now accepts bitcoin payments and Visa (VS) now allows payment settlements using cryptocurrency.