FTX Exchange Adds PayPal Support
FTX users can now instantly add money through PayPal.
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Another big update from the FTX team: PayPal has now been added to the exchange.
FTX Adds PayPal
FTX users will now be able to make instant fiat deposits through PayPal, the cryptocurrency exchange has announced.
1) you can now get *instant* fiat deposits on FTX
2) you can now deposit *any currency*, more or less. Paypal converts for you.
3) Paypal charges are fees! If you're doing a large transfer, wires are slower but cheaper.
4) credit card deposits work through it! https://t.co/yrzqbJdtQ4
— FTX – Built By Traders, For Traders (@FTX_Official) March 2, 2021
The exchange confirmed that PayPal supports deposits for “*any currency*, more or less,” as PayPal has a currency converter. The payments service also allows card deposits. There’ll also be a fee to use it.
The exchange’s CEO Sam Bankman-Fried hinted at the news yesterday when he tweeted an image of the PayPal logo. His followers quickly began to speculate over what the post could mean. Some thought it could reference FTX’s tokenized PayPal stocks; the exchange has listed several big companies in recent months. Apart from PayPal, some of Silicon Valley’s big tech giants, and others like Airbnb, FTX also added GME, Dogecoin, and silver amid the WallStreetBets-led GameStop drama.
PayPal’s involvement with FTX isn’t a huge surprise, either.
The payments company has been making clear moves towards adopting cryptocurrencies recently, adding support for BTC, ETH, and others late last year. In December, the company’s CEO, Dan Schulman, said that he was “bullish on digital currencies of all kinds.”
Disclosure: At the time of writing, the author of this feature owned ETH and several other cryptocurrencies.