Coinimal Users Can Now Trade Bitcoin via Paypal

Coinimal is an online trading platform that supports the exchange of Bitcoin, Ethereum and Futurecoin for multiple fiat currencies. Previously, the platform only had two payment options: online electronic wallet Neteller and SEPA (Single Euro Payments Area). Now the platform has added PayPal payment because consumers prefer to use PayPal. A spokesperson for Coinimal said: "The reason for adding PayPal is the strong demand of consumers."

In addition to PayPal, Coinimal has added Sofortüberweisung, Giropay and EPS (Electronic Payment Standard) to meet the needs of more consumers around the world. The company was founded in 2014 by艾瑞克•德穆思,保罗•克兰斯凯克and克里斯蒂安• 塔姆, who said they created the company because they experienced the difficulty of buying Bitcoin in Europe. Coinimal currently offers a 1 euro reward to users who undergo real-name authentication. The company has restrictions on the amount of Bitcoin that can be bought and sold to companies that have not undergone real-name authentication.

Coinimal pointed out that traders who use PayPal as a payment method still have to pay a certain transaction fee. In the past, we often saw news about Bitcoin and PayPal's cooperation, but in the end, nothing happened. A spokesperson for Coinimal said on Reddit: "Our cooperation with PayPal is real, and people have to believe that our cooperation will continue."

The topic of Bitcoin and PayPal has indeed caused a huge stir in the past. For example, merchants can accept Bitcoin payments through their PayPal accounts. PayPal's policy prohibits those who do not have approved "business accounts" from paying or accepting digital currencies, and merchants must only sell "digital goods." Coinimal happens to fall into the "only sell digital goods" category.

The company has its own digital currency ATMs in Vienna and Australia, selling Bitcoin and NXT. Vienna is also a city with a good development of Bitcoin ATMs. According to CoinATMRadar, the number of Bitcoin ATMs in the city is increasing.

Coinimal is one of many companies that offer bitcoin payment services. Some call these trading companies "closing the loop," meaning that no fiat currency is needed in this cycle. To this end, traders and entrepreneurs are constantly competing to find new trading solutions.

In the past, people would withdraw their digital currencies on the Coinimal platform, and the exchange platform would act like a bank, paying users with fiat currency. But as more and more retailers begin to accept Bitcoin, fewer and fewer people are exchanging digital currencies for fiat currency. News of large companies accepting Bitcoin usually attracts more attention, but smaller retailers are also constantly joining the ranks of Bitcoin payments.

When asked if they plan to support multiple cryptocurrencies in the future through platforms like Shapeshift, a Coinimal spokesperson said they do not want to make such predictions as it could disrupt the market.

Original article: https://news.bitcoin.com/coinimal-adds-paypal-crypto-fiat-services/
By Amanda Johnson
Translator: printemps
Editor: printemps
Source (translation): Babbitt Information