PayPal Brings Crypto Service to UK Customers

Rollout of PayPal's first expansion of its crypto offering outside the U.S. will begin this week.

AccessTimeIconAug 22, 2021 at 11:01 p.m. UTC
Updated Sep 14, 2021 at 1:43 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

PayPal is extending its crypto service to the U.K., allowing customers to buy, sell and hold four different cryptocurrencies on its platform.

  • Users will be able transact in bitcoin, ether, litecoin and bitcoin cash for as little as £1 ($1.40), PayPal said.
  • The rollout is the first expansion of PayPal's crypto offering outside the U.S.
  • The process will begin this week and should be available to all eligible customers within the next few weeks.
  • Customers must have verified their identity in order to be eligible. PayPal business accounts will not be supported.
  • PayPal introduced crypto buying, selling and holding to U.S. customers last October, a move closely followed by bitcoin attaining new highs for 2020 and one of the sparks that ignited the subsequent crypto bull market.
  • The company has not yet allowed users to move crypto holdings off-platform, though this stance may change. Jose Fernandez da Ponte, vice president of blockchain, crypto and digital currencies, said at Consensus 2021 in May that a withdrawal function is in the works.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


Read more about