PayPal May Start Accepting BitCoin Payments Soon

The virtual currency, BitCoins, has been around for a while. But it didn’t gain a lot of traction, until quite recently. An increasingly large number of vendors seem ready to start making use of BitCoins. In what may be a major win for BitCoins, PayPal is now considering the option of accepting BitCoin payments.


BitCoins

According to PayPal’s CEO, John Donahoe, he is currently watching BitCoins very closely. Donahoe apparently wants to confirm that BitCoins is not a temporary phenomenon and that it is here for the long-term. From the looks of it, he does seem fairly confident of the virtual currency.

In a recent interview, Donahoe stated that within the next five years, BitCoins could be converted into hard cash. If his speculation proves true, BitCoins will become a very significant global phenomenon. And if the likes of PayPal start accepting BitCoins payments, this would give the virtual currency a huge boost.

Donahoe says that PayPal plans to do something new with BitCoins – use the virtual currency to persuade real-world retailers to start using PayPal’s payment system. If this goes as planned, at one side this would give PayPal a very prominent real-world presence while at the other hand, it would let BitCoins become as common as the actual currency.

However, for now, Donahoe hasn’t decided whether or not PayPal will use the virtual currency. He is weighing the options and trying to discern the future of BitCoins. If he eventually decides to use it, we can expect PayPal to start supporting the virtual currency within the next one year.

Courtesy: Slashgear

[ttjad]

Salman

Salman Latif is a software engineer with a specific interest in social media, big data and real-world solutions using the two.Other than that, he is a bit of a gypsy. He also writes in his own blog. You can find him on Google+ and Twitter .

This Post Has One Comment

  1. Antonio Martini

    Most people don’t understand the concept of “buying the dip” buying the dip is all about buying digital assets when their prices are down and selling off when the price rises. Holding is profitable, although trading is far more profitable. I was able to grasp the knowledge of trading crypto assets early enough, but i was still limited due to my lack of technical understanding on how to analyse the digital market, all that changed when I encountered Mark’s services. Although i have been into numerous services but Mark stands out with experience and expertise playing in his favor. I must confess it wasn’t an easy task to learning the routes on trading but with the assistance of Mark St Jean it was more easier to understand, Here are his details on :Tel:egram: @Markjean247 Remember a bullish market is reversed bearish market.

Leave a Reply