{"id":2279,"date":"2023-08-14T12:57:20","date_gmt":"2023-08-14T12:57:20","guid":{"rendered":"https:\/\/www.cryptometer.io\/news\/?p=2279"},"modified":"2023-08-14T12:57:22","modified_gmt":"2023-08-14T12:57:22","slug":"paypal-launches-new-crypto-hub-for-selected-users","status":"publish","type":"post","link":"https:\/\/www.cryptometer.io\/news\/paypal-launches-new-crypto-hub-for-selected-users\/","title":{"rendered":"PayPal Launches New Crypto Hub for Selected Users"},"content":{"rendered":"\n<p>PayPal, a major player in the payments sector, has rolled out a new feature named the Cryptocurrencies Hub. This development follows the recent launch of their dollar-backed stablecoin, PayPal USD (PYUSD). The hub empowers users to hold and engage with Bitcoin, which is currently valued at $29,300, and other cryptocurrencies within their PayPal accounts.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-new-terms-and-conditions-unveiled\">New Terms and Conditions Unveiled<\/h2>\n\n\n\n<p>PayPal&#8217;s updated terms offer a clearer picture of what crypto users can anticipate when utilizing the platform. The Cryptocurrencies Hub will cater to buying and selling cryptocurrencies and enable users to make purchases on PayPal using the proceeds from their crypto sales.<\/p>\n\n\n\n<p>As per the sources from PayPal&#8217;s terms and conditions: \u201cThe balance in your Cryptocurrencies Hub denotes the ownership of the indicated amount of each crypto asset. However, users won&#8217;t hold the actual digital crypto assets in their crypto asset balance.&#8221;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Eligibility and Restrictions<\/h2>\n\n\n\n<p>While this feature promises a new dimension of convenience, it won&#8217;t be universally available to all PayPal users. The company will selectively grant access. Initially, to be eligible, one needs a personal PayPal account in good standing and a Balance Account. Furthermore, the user must furnish identifying information like name, address, birth date, and taxpayer identification number.<\/p>\n\n\n\n<p>The company states: \u201cYour Cryptocurrencies Hub can only be accessed via your personal PayPal account, and at this time, residents of Hawaii won\u2019t be able to establish a Cryptocurrencies Hub.\u201d<\/p>\n\n\n\n<p>Once activated, users can seamlessly access the Cryptocurrencies Hub using their standard PayPal login details.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Mixed Reactions Over PayPal USD Launch<\/h2>\n\n\n\n<p>The PayPal USD stablecoin has ignited varied opinions in the crypto community. Many foresee PYUSD accelerating mainstream adoption of Ether. Yet, some express concerns about the potential undermining of decentralization and personal asset control. Notably, multiple smart contract reviewers have pinpointed functions like \u201cfreezefunds\u201d and \u201cwipefrozenfunds\u201d in PYUSD&#8217;s smart contract, labeling them as potential centralization threats in Solidity contracts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PayPal, a major player in the payments sector, has rolled out a new feature named the Cryptocurrencies Hub. This development follows the recent launch of their dollar-backed stablecoin, PayPal USD (PYUSD). The hub empowers users to hold and engage with Bitcoin, which is currently valued at $29,300, and other cryptocurrencies within their PayPal accounts. New [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":2267,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-2279","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-general-news"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PayPal Launches New Crypto Hub for Selected Users<\/title>\n<meta name=\"description\" content=\"PayPal, a major player in the payments sector, has rolled out a new feature named the Cryptocurrencies Hub. This development follows the recent launch of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cryptometer.io\/news\/paypal-launches-new-crypto-hub-for-selected-users\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PayPal Launches New Crypto Hub for Selected Users\" \/>\n<meta property=\"og:description\" content=\"PayPal, a major player in the payments sector, has rolled out a new feature named the Cryptocurrencies Hub. This development follows the recent launch of\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.cryptometer.io\/news\/paypal-launches-new-crypto-hub-for-selected-users\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoMeter.io\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-14T12:57:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-14T12:57:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2023\/08\/PayPal_stablecoin.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"2200\" \/>\n\t<meta property=\"og:image:height\" content=\"1650\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Raj Sharma\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CryptoMeterIO\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoMeterIO\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Raj Sharma\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/paypal-launches-new-crypto-hub-for-selected-users\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/paypal-launches-new-crypto-hub-for-selected-users\/\"},\"author\":{\"name\":\"Raj Sharma\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/#\/schema\/person\/bbfe4a2efa58e681b4208612112f3149\"},\"headline\":\"PayPal Launches New Crypto Hub for Selected Users\",\"datePublished\":\"2023-08-14T12:57:20+00:00\",\"dateModified\":\"2023-08-14T12:57:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/paypal-launches-new-crypto-hub-for-selected-users\/\"},\"wordCount\":324,\"publisher\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/paypal-launches-new-crypto-hub-for-selected-users\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/www.cryptometer.io\/news\/wp-content\/uploads\/2023\/08\/PayPal_stablecoin.jpeg?fit=800%2C600&ssl=1\",\"articleSection\":[\"General News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/paypal-launches-new-crypto-hub-for-selected-users\/\",\"url\":\"https:\/\/www.cryptometer.io\/news\/paypal-launches-new-crypto-hub-for-selected-users\/\",\"name\":\"PayPal Launches New Crypto Hub for Selected Users\",\"isPartOf\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/paypal-launches-new-crypto-hub-for-selected-users\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/paypal-launches-new-crypto-hub-for-selected-users\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/www.cryptometer.io\/news\/wp-content\/uploads\/2023\/08\/PayPal_stablecoin.jpeg?fit=800%2C600&ssl=1\",\"datePublished\":\"2023-08-14T12:57:20+00:00\",\"dateModified\":\"2023-08-14T12:57:22+00:00\",\"description\":\"PayPal, a major player in the payments sector, has rolled out a new feature named the Cryptocurrencies Hub. 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