Good news, you can now buy, sell and hold crytocurrency in Paypal. You can choose from Bitcoin, Ethereum, Litecoin, and Bitcoin Cash
Below are information obtained from Paypal.
Secure with PayPal
Just like with other payment options, PayPal provide fraud protection and PayPal Purchase Protection on eligible purchases from millions of online stores where PayPal is accepted.
Checking out with crypto is a taxable transaction
Because it’s an asset, it will first be sold whenever you checkout with crypto and the cash will be used to pay the merchant. You have to report any gains or losses on the crypto sale on your taxes. PayPal will provide necessary 1099 forms when you sell cryptocurrency.
Crypto is considered volatile because of how much and how quickly its value can change. Like all currencies, there’s potential for gains and losses.