Just three weeks after PayPal (PYPL) – Get Report began allowing all of its U.S. users to trade Bitcoin, it looks like a substantial fraction of its user base has already taken the company up on its offer.
Mizuho Securities recently surveyed 380 U.S. PayPal users, and found that 17% of them have already traded Bitcoin via their PayPal accounts. In addition, 65% of those who had traded Bitcoin via PayPal said that they’re willing to use the cryptocurrency to buy goods and services.
What’s more — though this number is influenced by the fact that Bitcoin traders appear to be more active PayPal users to begin with — those trading Bitcoin via PayPal were said to be using the PayPal app more than three times as much as non Bitcoin-traders. And about half of the Bitcoin traders reported using other PayPal functions more after they started trading