- bitFlyer exchange Europe has integrated PayPal into its platform.
- bitFlyer users can now use their PayPal accounts to deposit funds.
- PayPal integration is a move that aims to make crypto trading safer and accessible.
- bitFlyer Europe is the first crypto exchange to accept PayPal deposits.
Crypto exchange bitFlyer Europe has integrated international online payment gateway Paypal into its platform. bitFlyer users can now deposit funds into their accounts through their PayPal accounts.
bitFlyer Europe Integrates PayPal
The latest move of bitFlyer would allow millions of European users to easily buy cryptocurrencies through PayPal. Known as the only cryptocurrency exchange that is licensed in Japan, the US, and Europe, bitFlyer aims to make crypto trading safer and accessible around the world.
bitFlyer Europe COO Andy Bryant expressed his excitement to offer this opportunity to their users. According to him,
Thousands of bitFlyer users already use PayPal for fiat transactions. Now, users can purchase bitcoin and other cryptocurrencies in the same way too.
Encouraging new cryptocurrency users and even experienced traders to buy cryptos, bitFlyer opened up a new portal that ordinary people can comfortably access. bitFlyer Europe users will be redirected to PayPal’s official website once they select it as their payment method.
First Crypto Exchange to Allow PayPal Deposits
At present, no other crypto exchange allows users to deposit funds via PayPal. US-based crypto exchange Coinbase only accepts users’ withdrawals to their PayPal accounts. In bitFlyer Europe’s case, PayPal will be a secure and efficient intermediary between users and the exchange.
Unlike traditional payment methods that can take up to three business days to process, deposits done via PayPal would be seamless. bitFlyer Europe Business Strategy Manager Jacek Bastin expressed the importance of providing a deposit method that is known by existing customers.
He further explained that,
The process to deposit through PayPal is entirely frictionless, secure and reliable, with users to be credited near to instantly.
As Bastin revealed, approximately a third of European e-commerce payments are already being processed through PayPal. With bitFlyer Europe’s integration, a “new funding source” would be made available to the users.
Looking back in 2014, PayPal has made partnerships with bitcoin payment processors BitPay, Coinbase, and GoCoin in allowing merchants to accept bitcoin as payment. On the other hand, bitFlyer Europe is a subsidiary of its Japan-based parent company bitFlyer that has been trusted by millions since 2018.