Paypal Subsidiary Braintree To Use Bitcoin
The Paypal subsidiary of Braintree has announced that it will be working alongside Coinbase and allowing merchants to accept payments in Bitcoin. Braintree CEO Bill Ready stated that, "Today we're announcing PayPal's first foray into Bitcoin, the Coinbase wallet will be easily presented for consumers to pay in a highly adaptive, mobile-optimized experience." This is a big step for the crypto currency and simply by being linked with the giant online payment processor of Paypal is a major move. Braintree is also the payments facilitator for businesses such as Uber and Airbnb meaning that soon, they too will be able to accept Bitcoin as a payment method, however there has been no word as to whether the currency will be accepted directly by Paypal or its owners Ebay.
Braintree itself was purchased by Paypal in September 2013 for around $800 Million, mainly due to Braintree's huge role in mobile payments management, and a Wedbush Securities analyst said of this latest move that it was a "very substantial development" adding that it could very well lead to Paypal directly accepting the digital currency, meaning, "millions of retailers will de facto be accepting bitcoin overnight".
Bitcoin is slowly starting to increase its presence in the world of online gambling too, however maybe not at the rate that was once expected. While initially we saw a number of small Bitcoin online casinos become available it wasn't until quite recently that we saw real quality Bitcoin operations arise, with Bitstars being one of the very best around. In theory Bitcoin is the perfect payment and withdrawal method for US online casino games players as it has a 100% acceptance rate, is totally anonymous and funds accounts instantly, however maybe a great number of players are still either unaware of it, or just as likely, still have their doubts as to how the currency actually works.