Investing in digital currencies has become increasingly popular in recent years, and this latest development will allow consumers another way to do it. Cryptocurrencies are renowned for their volatility, and PayPal has already provided information about the risks involved with trading crypto. Afraid of the potential problems that customers may encounter despite PayPal’s cautions, Mr. Khalaf is apprehensive. He said:
UK investors taking risks
When it comes to investing in crypto, many UK investors are skipping traditional ways of saving and jumping in headfirst. Six out of 10 crypto investors do not have an ISA, and half do not have a pension, Mr. Khalaf noted, according to an AJ Bell poll. As a result, Khalaf is skeptical about the validity of crypto transactions between customers and sellers. Substantiating his argument is the fact it was revealed that 14% of UK crypto purchasers used loans to fund their purchases, according to FCA data released in June. Khalaf continued: Overall, Mr. Khalaf feels that the launch of the new PayPal service has both its pros and cons. Also, the fact that PayPal is a well-known, publicly-traded corporation already subject to regulatory scrutiny makes its position on the crypto market a good one. [coinbase] [robinhood]
