The latest research report on Bitcoin indicates that a considerable percentage of PayPal’s clients have already used the platform for purchasing the numero uno crypto.
The US branch of investment bank Mizuho Securities stated that it conducted a poll to assess PayPal users’ interest in Bitcoins and 380 of the latter’s clients participated in the poll.
The survey, published by The Street, revealed that 17% of the poll participants have already purchased Bitcoin (BTC) using their PayPal accounts.
For a query on whether the purchased Bitcoin would be used for shopping (goods and services) at PayPal’s 28 million online vendors, 65% of poll participants responded affirmative.
Furthermore, people who utilize PayPal to buy and sell Bitcoin are utilizing the payments platform three times more than the users who are not involved in trading the king of crypto.
Dan Dolev, Mizuho senior analyst, states that he trusts PayPal’s support for crypto could result in a 20% revenue growth in the forthcoming year.
PayPal started facilitating its clients in the US to purchase Bitcoin, Bitcoin Cash, Ethereum and Litecoin on November 13. However, users were restricted in terms of the value of purchase. Currently, the US based clients of PayPal are allowed to buy $15,000 worth Bitcoin per day, with $20,000 being the maximum amount that can be invested in a week.
In the first-half of 2021, PayPal will start offering its cryptocurrency services to Venmo. Additionally, the payment processor is working with financial solutions provider Paxos Trust Company to facilitate cryptocurrency trading and custody services.
