Bitcoin exchange Coinizy launches Bitcoin to PayPal redemption service

Bitcoin exchange Coinizy launches Bitcoin to PayPal redemption service

Bitcoin exchange Coinizy Financial Services, Inc. has launched what it claims to be the world’s first one way Bitcoin to PayPal redemption service.

The service allows users to redeem their Bitcoin into a payment via PayPal, Inc.’s payment service whereas traditionally Bitcoin exchanges have primarily only offered redemption services via wire transfer, although as we’ve seen recently with Coinbase debit cards are also emerging as another way to access Bitcoin wallets.

Given some issues in the past with Bitcoin exchanges that have tried to provide PayPal support (be it two way) who have had the ability to do so canceled or blocked by the uber payment processing giant, Coinizy isn’t dealing with PayPal directly and is instead routing payments through an intermediary financial institution in Hong Kong to handle the payments.

Along with the option of redemption by Bitcoin, Coinizy also supports more traditional payment methods

Read more ... source: TheBitcoinNews

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