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Sunday, February 28, 2021

bitFlyer integrates PayPal, allowing users to buy crypto seamlessly

  • This integration will let bitFlyer Europe users purchase crypto securely.
  • Through PayPal, the exchange’s users will be able to make near-instant deposits.
  • Per bitFlyer’s COO, purchasing crypto via PayPal will be similar to making fiat transactions.

bitFlyer, a leading crypto exchange has joined hands with PayPal to introduce PayPal payments on its platform. A press release unveiled this news on September 21, noting that this move means that PayPal’s European users can now deposit funds to bitFlyer’s Europe platform to buy cryptocurrencies securely. By integrating PayPal payments, bitFlyer has the potential to onboard millions of PayPal users onto the crypto bandwagon.

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Per the press release, this is the most recent step by bitFlyer toward delivering its mission of ensuring crypto trading is safe and secure across the globe while supporting and protecting users that may be new to crypto as well as experienced traders.

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Commenting on this development, Andy Bryant, the COO of bitFlyer Europe said that a large number of bitFlyer users are already using PayPal as a medium of fiat transactions. Following the same way, they are now able to buy bitcoin as well as other crypto coins.

He added,

“We’re proud to offer users the opportunity to use their PayPal accounts to deposit funds for purchasing crypto. The integration of PayPal adds a new funding source for bitFlyer users.”

Providing users with a reliable and nearly-instant payment method

This integration is set to provide bitFlyer users with an additional deposit method apart from the traditional payment methods that are currently available on the platform, including wire transfers. While these methods have served the exchange’s users, they are often slow and might take up to three banking days for deposits to clear. By introducing PayPal payments, bitFlyer has offered its customers access to nearly-instant transactions.

Jacek Bastin, bitFlyer’s business strategy manager noted that although the crypto sector is growing rapidly, it is still in an infancy stage. As such, it is still daunting for newcomers. However, Bastin believes that integrating PayPal will help ease the process of onboarding new crypto adopters. This is because the payment platform processes almost a third of European e-commerce payments. Bastin added that PayPal’s reputation of being fast, secure, and reliable will ensure crypto enthusiasts make deposits seamlessly.

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