PayPal has become available to Coinbase customers, and BNY Mellon regrets not having invested in cryptocurrency
Coinbase customers will be able to buy cryptocurrency with PayPal
Crypto exchange Coinbase has allowed U.S. users to use PayPal to buy digital currencies. For those who already have an account on the Bitcoin platform, there is no need to add a new bank account information and debit card number to Coinbase — “You can continue to use PayPal.”
“We’re now offering customers in the USa simple and speedy way to buy crypto on Coinbase using PayPal. We’re now one step further in bringing everyone easy and secure access to the cryptoeconomy,” the company said in a statement.
Coinbase has set a daily limit of up to $25,000. The commission for operations with cryptocurrency will be 3.99%. Soon, the platform intends to connect clients from other countries to the service.
BNY Mellon regrets missed opportunities for investing in crypto market
Financial holding BNY Mellon, which manages $2 trillion in assets, explained the weak growth in one of its ETFs. According to the structure, this was significantly affected by the lack of access to companies investing in bitcoin.
Focused on investments in small-cap companies, BNY Mellon exchange-traded fund grew 35% from September 1, 2020 to February 28 this year. At the same time, its benchmark — the Russell 2000 index — increased by 41.7% over the same period.
“Fund performance was hurt as well by a decision not to own MicroStrategy, whose stock surged when it announced it had invested in Bitcoin,” BNY Mellon said.