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bitFlyer Europe, the European branch of bitFlyer Inc., based in Japan and one of the largest cryptocurrency exchanges with over 2.5 million users, announced last September the integration with the global payment platform Paypal.
Removing barriers to buying crypto
bitFlyer is the only cryptocurrency exchange regulated in Japan, the United States and Europe put together and has also been recognized as one of only 10 exchanges that does not falsify exchange volumes.
The European office is located in Luxembourg and operates an exchange platform for European traders to buy and sell virtual currencies.
According to the press release, dated 21 September 2020, with this integration bitFlyer Europe will allow its nearly 3 million users to use PayPal as a payment method and, at the same time, will allow PayPal’s millions of European users to deposit funds on its platform. and buy cryptocurrencies in a safe and secure way. The partnership should strengthen the mission of making cryptocurrency trading accessible to anyone.
Andy Bryant, the bitFlyer Europe COO, said: “We are proud to offer users the ability to use their PayPal accounts to deposit funds dedicated to the purchase of cryptocurrencies. Thanks to the integration with PayPal, bitFlyer adds a new source of funding to its users,” – he says. “Thousands of bitFlyer users already use PayPal for fiat transactions. Now, users can buy bitcoins and other crypto currencies in the same way”.
From today, therefore, bitFlyer users will have an alternative to traditional deposit payment methods, including wire transfers, since the latter can take up to three working days for their liquidation. Partnering with PayPal should exponentially speed up the deposit process, as deposits are almost instant.
Jacek Bastin, Business Strategy Manager at bitFlyer Europe, added: “The world of cryptocurrency is still in its infancy and, despite the growing ecosystem, the industry is still daunting for non-experts. About a third of e-commerce payments in Europe are processed through PayPal, so we are more than thrilled to provide users with a deposit method they know and rely on. The PayPal deposit process is straightforward, secure and reliable, and users can be credited almost instantly”.