PayPal begins to accept Bitcoin

PayPal has begun to offer limited support for Bitcoin paving the way for one of the largest market places and its associated payment processing provider to become a prolific component for international virtual currency users. PayPal has entered into strategic partnerships with three large Bitcoin payment processing companies. The three payment processing companies are Coinbase, BitPay (which is backed by Virgin mogul Richard Branson) and GoCoin.
Merchants in North America which provide many items which can be purchased online and downloaded, such as music, games, and cellular phone ringtones may now accept bitcoin through PayPal Payments Hub, the company’s service for digital goods retailers. The company says it is “giving our digital goods merchants an easy, one-stop way to test the waters with this new form of payment.”
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