MINNEAPOLIS (WCCO) — Online shoppers now have a new way to spend digital money. Tuesday, PayPal announced it will allow customers to use cryptocurrency, like Bitcoin, as a form of payment.
The unique step had us wondering: How will spending cryptocurrency online work? And what is the future of e-commerce? Good Question.
When we’re not shopping in a brick and mortar store we’re often spending our dollars online via credit cards or payment platforms like PayPal.
According to spendmenot.com, 361 million people use PayPal. That’s more than the U.S. population. And one-fifth of all online transactions in the country go through PayPal.
And now instead of just linking a bank account or credit card, PayPal users can link their cryptocurrency account.
How big of an announcement is this for PayPal?
“I think it’s pretty impactful,” said Vivian Fang, an accounting professor at the University …