The arrival of PayPal in the crypto sector had the effect of a bomb in the ecosystem. And it seems that the bet is justified, since the vast majority of users of the service would be ready to settle their purchases with Bitcoin (BTC).
PayPal users particularly hungry for Bitcoin (BTC) and cryptocurrencies
The crypto services of PayPal, which now offers the purchase of Bitcoin (BTC) and altcoins , had seen considerable and unexpected success . So much so that the payments giant had in haste opened the service to all users in the United States.
Will PayPal unblock Bitcoin (BTC) payments?
Will PayPal’s limitations be sufficient to prevent new users from turning to these services? It seems not, according to a study by Mizuho Securities USA . 65% of crypto holders on PayPal would thus be ready to use Bitcoin as a currency, with the 28 million merchants connected to the service.
Notably, 17% of PayPal users have reportedly used their accounts to buy and sell Bitcoin in the past. And funds are important: PayPal users who have cryptocurrency do indeed handle a higher volume than fiat currencies. Half of them also report having used the PayPal application more since it enabled the purchase and sale of cryptocurrencies.
It would therefore seem that the limitations reported by users of PayPal’s crypto services will not therefore slow down a possible adoption , if the company unblocks the use of Bitcoin (BTC) as a means of payment. If this were the case, PayPal could carve out a substantial slice of the pie within the crypto ecosystem.