The bandwagon cryptocurrency industry is unstoppable and so do the crypto-focused firms. In the latest update, bitFlyer cryptocurrency exchange joins the military of Paypal to facilitate crypto investors while removing the barrier to entry.
The spot trading crypto exchange is headquartered in Tokyo, Japan, and reportedly, securing approx. 1.25% market share in terms of trading volumes.
bitFlyer’s Europe arm is ready to provide its crypto payment services while integrating with a global payments platform Paypal. Meaning, bitFlyer Europe is allowing users to deposit Euro via Paypal accounts and get benefits of the crypto transactions in their local currency.
While sticking to its mission to make cryptocurrency widely accessible to every customer, bitFlyer has taken the step and enabling European customers to buy cryptocurrencies in a much safer and robust payment-focused environment.
Also, this service is empowering professionals as well as newbies to escalate almost instant payment and get the benefits while securing their portfolios due to the long-standing perseverance of Paypal in the payments sector.
The direct integration with PayPal provides an immediate solution to bitFlyer Europe users. The users can transfer funds directly from PayPal to the platform when buying crypto unlike P2P crypto marketplaces like LocalBitcoins and Paxful.
bitFlyer’s Europe business strategy manager Bastin Jacek mentioned that LocalBitcoins and Paxful provide indirect integration to Paypal wherein users get services in a C2C (customer-to-customer) process. However, bitFlyer Europe is supporting its users in the B2C (business-to-customer) process without any intermediary.
Interesting to note, at present, out of all the other cryptocurrency exchanges only bitFlyer has allowed its customers to deposit funds in PayPal accounts and buy cryptocurrency from bitFlyer. Coinbase is another crypto exchange which is enabling its customers to “either withdraw cash to PayPal or sell their crypto to their PayPal account,” though not given buying facility, as per the official website.
Andy Bryant, COO, bitFlyer Europe expressed his gusto on offering the opportunity to users to use their PayPal accounts for crypto-related transactions both for buying and withdrawal facility.
Established in Luxembourg, bitFlyer Europe is a fully owned subsidiary of bitFlyer, launched in Jan 2018. The company is offering crypto trading services to European traders.
Currently, bitFlyer is ranking on #8 position on coinMarketCap and dealing in 5 pairs BTC/JPY, ETH/JPY, BTC/EUR, BTC/USD, ETH/BTC in an active market.