Is PayPal About to Enter the Bitcoin Trading Market?

In what could be a huge boost for Bitcoin, global payments giant PayPal has started recruiting blockchain experts to develop crypto products.

According to various sources online, PayPal is planning to allow direct cryptocurrency purchases on its platform, potentially opening up the world of bitcoin and other coins to its 300+ million users.

Two public job adverts have been posted over recent days. The first is for a ‘Technical Lead – Crypto Engineer’, while the second is for a ‘Blockchain Research Engineer’.

Although many experts have linked the move specifically to Bitcoin, there’s always a chance that PayPal is looking to develop its own crypto to offer to its customers.

The rumours sparked a wave of speculation that the move could lead to a surge in the price of Bitcoin, but at the time of writing this had yet to materialize.

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PayPal has declined to confirm or deny the plans.

Another source on social media has said the service could be available within the next three months, but again this hasn’t been confirmed.

PayPal already has a partnership with crypto exchange Coinbase where its users in Europe and the United States can make withdrawals and deposits across the two platforms.

If the plan does go ahead, Bitcoin advocates can feel rightly smug as PayPal has previously been a critic of Bitcoin and cryptocurrency in general.

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