The crypto world has been buzzing with excitement over the last couple of days, and rightfully so. Bitcoin (BTC) is currently hovering around the $13,000 mark, while Ether (ETH) has once again safely tread past the $400 threshold in spite of the KuCoin exchange hack and the unfortunate legal events that recently unfolded around BitMEX. That being said, this latest surge can largely be attributed to the decision of online payments processor PayPal to finally enter the crypto arena.
Come 2021, PayPal will be allowing its customers to use a number of popular digital currencies such as Bitcoin, Ethereum, Bitcoin Cash (BCH) and Litecoin (LTC) in order to shop seamlessly across its massive network of affiliated merchants. While transactions can be initiated in crypto, payments will only be settled in fiat, meaning that merchants will only receive money in their local currency.