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Amazon started accepting cryptocurrencies as payment

Amazon started accepting cryptocurrencies as payment

The Amazon Marketplace website makes it possible to pay for goods in Ethereum, Litecoin, and Bitcoin Cash, thanks to a successful collaboration with the PayPal-owned Venmo mobile payment service.

Venmo's customer base exceeds 80 million users. Starting from next year, all of them will get access to Amazon shopping, even in cryptocurrencies.

Just to recap, Venmo allows U.S. citizens to make instant p2p money transfers by cell phone number simply by selecting the recipient from phone contacts. Besides, this mobile app allows you to pay for taxicab and laundry services and tip waiters at restaurants and coffee shops.

What is curious is that the official press releases do not mention payment with cryptocurrencies. Still, it is true, since recently, Venmo has added such cryptocurrencies as Ethereum, Litecoin, and Bitcoin Cash as payment tools.

PayPal is trying to improve its operating performance by partnering with Amazon in the face of sharp declines in sales on eBay, another major marketplace. According to the results of the last quarter, eBay sales fell by 45%, which negatively impacted PayPal's share price.

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