The blockchain technology is changing the world! Many in the world of tech have hailed it as ‘Web 3.0’ and as the biggest innovative factor that is going to bring forward a massive change in the way we know technology. PayPal is the latest name to invest in Blockchain tech.
Having shown its interest in blockchain technology for quite some time, PayPal has finally made an investment in the sector. The payments processing giant has invested in Cambridge Blockchain: a startup working toward developing digital identity management software.
PayPal Interested in Blockchain: But What About Bitcoins?
PayPal has invested in a blockchain startup. What does that mean about the company’s interest in cryptocurrencies? Is this a positive sign of things to come? Only time can tell. For now, however, we must understand that while Bitcoins function over the blockchain network, it is not the only major feature of the blockchain tech.
Blockchain has applications beyond Bitcoins. Having found use in governance, agriculture, healthcare, retail management, food processing and several other sectors, the potential of blockchain tech is limitless!
Can You Buy Bitcoins Using PayPal?
The answer to this question is rather complex: it is yes as well as no. While you cannot directly buy Bitcoins on the PayPal website – but there are some cryptocurrency exchanges which facilitate PayPal payments for buying cryptocurrencies.
However, the additional charges for PayPal-purchased crypto are quite high. Some users prefer buying virtual gaming tokens using PayPal and then exchanging them for Bitcoins later on. Nevertheless, with PayPal showing an active interest in blockchain – who knows, Bitcoins might be next!