Let’s take a look at some hard facts!
1. Towards the end of October 2020, PayPal briefly outlined its vision for a whole new service that will allow its users to purchase, hold, and sell several cryptocurrencies such as [Bitcoin](https://nowpayments.io/supported-coins/bitcoin-payments/?utm_source=reddit&utm_medium=social&utm_campaign=accept_bitcoin), [Ethereum](https://nowpayments.io/supported-coins/ethereum-payments/?utm_source=reddit&utm_medium=social&utm_campaign=accept_ethereum), [Bitcoin Cash](https://nowpayments.io/supported-coins/bitcoin-cash-payments/?utm_source=reddit&utm_medium=social&utm_campaign=accept_bitcoin_cash), and [Litecoin](https://nowpayments.io/supported-coins/litecoin-payments/?utm_source=reddit&utm_medium=social&utm_campaign=accept_litecoin).
2. The core strength of PayPal as a payment company is the number of global merchants (26 million) and users (346 million). Soon, PayPal wants to empower its merchants to [accept Bitcoin as payment](https://nowpayments.io/supported-coins/?utm_source=reddit&utm_medium=social&utm_campaign=coins) from its users.
3. All crypto trades must be executed in USD, and users will not be able to deposit and withdraw their funds or send them to other PayPal individuals as of now.
So, the main problem is – you can’t withdraw your crypto, actually. Read more in our blog: [https://nowpayments.io/blog/paypal-cryptocurrencies](https://nowpayments.io/blog/paypal-cryptocurrencies)
Paypal exploring crypto is a big step, but just a step nevertheless.
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