PayPal Users Can Now Receive Bitcoin Payments Through Bitwala

Bitwala, the Bitcoin payment company that made its reputation as the one-stop solution for paying bills and sending money to any account in any Single Euro Payments Area (SEPA) has now enabled its users to send Bitcoin payments to any PayPal account, anywhere in the world.

Yesterday, in a blog announcement, Bitwala said that “Starting from today you can send Bitcoin to Paypal accounts worldwide.” “For only 0.5% fee we transfer Bitcoin to PayPal accounts you want. You don’t need a bank account or a credit card. Bitcoin makes services like PayPal accessible for anyone worldwide,” they added.

Before November 3, Bitwala allowed users to pay monthly bills from their Bitcoin wallet to any SEPA account with an International Bank Account Number (IBAN) number. However, it did not support sending money to the most widely used third party payment processor, PayPal.

However, with this announcement, any Bitcoin user can send money to anyone with a PayPal account. All they would require is the registered email address of the PayPal user and Bitwala will handle the rest of the process.

With Bitwala, someone who wants to cash out Bitcoin via PayPal would now have a legitimate way to do so. Commenting on this possibility, Jörg von Minckwitz, the Chief Executive of Bitwala, said that “That’s what we have in mind, giving people the choice to use to their own PayPal account[s].”

Last year, PayPal’s total transaction value was worth $228 billion and the company handled 26 currencies in around 190 countries. PayPal currently has around 230 million users and considered to be the most popular digital wallet provider in the world. Hence, by enabling users to send money to PayPal accounts, Bitwala has not only expanded its potential uses, but they would likely attract a lot of new users who would use Bitwala for this sole purpose.