Mainstream Crypto Adoption Just Got Closer
PayPal (NASDAQ: PYPL), the global leader in online payments, made headlines when it announced its entry into the cryptocurrency market in October 2020. That move was widely celebrated by the crypto community as a major step toward mainstream adoption. But just last week, PayPal took things a step further by integrating cryptocurrency payments and transfers into its popular Venmo mobile payment app.
The new integration will allow users to not only buy and sell cryptocurrencies and allow them to send crypto to other Venmo accounts, but brings added functionality to support transfers between wallets on different platforms and exchanges. Essentially, Venmo is now a one-stop shop for (almost) all of your crypto needs.
The downside is that only four cryptocurrencies are supported currently. Perhaps in the future, this will change, but as of today, the only cryptocurrencies you can move via Venmo are Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
Source Fool.com
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