Coinbase Adds PayPal As Payment Option For U.S. Users - page 2.

electronicash

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Quote from: fladnaG on April 30, 2021, 07:39:21 AM

Have Binance already done this or are they just going to do it?

not sure. credit and debit cards are already given but not paypal. they only allow it p2p.

well now that coinbase started it binance might also add it so paypal users will have the chance to withdraw their btc to their btc wallets. its what is needed for paypal users. i agree that this is targetting the retail investors, small investors.

fladnaG

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Have Binance already done this or are they just going to do it?

Wind_FURY

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Quote from: elda34b on April 30, 2021, 06:58:38 AM

The target is definitely new retail investors who want to buy and sell crypto easily, without even learning about the market. Those fees are really ridiculous. It's more like a move to earn as much money as possible while the market is still bullish.

Although that’s true, you can’t reject the fact that PayPal, a giant in the online-payments industry is building path-ways for its users to connect to an open source project, that probably started in someone’s basement. That’s definitely. Cool

Obito

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Quote from: elda34b on April 30, 2021, 06:58:38 AM

The target is definitely new retail investors who want to buy and sell crypto easily, without even learning about the market. Those fees are really ridiculous. It's more like a move to earn as much money as possible while the market is still bullish.

It doesn't matter, a business being established in US are there because of the profit so of course they are going to mark up the prices, I mean what can the users do? There is little to no option in that place so they have to make do with what is on the table and the businesses know this.

DaveF

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Crypto Swap Exchange

The other advantage I see, and it's a small one, are those people who want to buy crypto though Coinbase but do not want to give them their banking information.
Yes it costs you a bit, but unless they changed something you are still getting a buffer that Coinbase never sees your banking information.
Also, if you sell on eBay and have funds sitting in your PP account you can now get BTC without moving it to your bank 1st so that is good.

Looking at the currency exchange section here the 3.99% that CB / PP charge is a lot less then the cut that traders want here for buying with PP.
So there is that too.

Yes I know some people do 1:1 but that is rare. Most are in the 5%+ range.

-Dave

elda34b

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The target is definitely new retail investors who want to buy and sell crypto easily, without even learning about the market. Those fees are really ridiculous. It's more like a move to earn as much money as possible while the market is still bullish.

Wind_FURY

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Quote from: Yaunfitda on April 30, 2021, 05:45:34 AM

Nah, I don't think this is a bullish sign, smart investors know what is noise behind this and I doubt that they will used Paypal. Although this could be an eye opener for Paypal users, but not for serious and smart bitcoiners. They would rather used other methods, in any case for those who wanted to try crypto then maybe they will dab their hands into this options.

I believe it IS a bullish sign. The act of the partnership between Paypal and Coinbase is showing that increasing “fiat-medium”/money-processors go towards Bitcoin. Bitcoin is a blackhole for fiat, sucking everything it can in its path.

Yaunfitda

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Nah, I don't think this is a bullish sign, smart investors know what is noise behind this and I doubt that they will used Paypal. Although this could be an eye opener for Paypal users, but not for serious and smart bitcoiners. They would rather used other methods, in any case for those who wanted to try crypto then maybe they will dab their hands into this options.

dkbit98

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People who are longer than few months in crypto will never use Paypal to buy Bitcoin on Coinbase because they would put that BTC in custodial black hole, and you can't spend or send that coins anywhere from your Paypal account.
Second problem I see here is limitation for Paypal/Coinbase to buy maximum $25,000 worth coins per day, that is around 0.46 BTC currently, not enough for many serious investors, and fees could also be lower than they are now.
Paypal needs to change their policy and give more power and private keys to customers if they want to see the real growth, make more profit and see wider crypto adoption, but I guess they don't care about that so much.

ConnerDalfino

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"Coinbase now allows users in the US to buy and sell bitcoin and other cryptocurrencies via an integrated PayPal account. Previously, users could only purchase bitcoin from the exchange using either ACH or wire transfer via a connected bank account. PayPal-linked credit cards can’t be used, there’s a purchase limit of $25,000 per day for PayPal users and the exchange will charge 3.99% fees."

-It's hilarious to see PayPal come full circle. They banned buying bitcoin from their platform really early on, but it's now apparently too lucrative to ignore.
-Those fees are insane. (2.5% for deposits, 4% for direct purchases).

What do you think is bullish? Will people be using it?

As I have seen a lot of people complaining about the fees and not letting middleman(PayPal) handle the transactions.

Topic: Coinbase Adds PayPal As Payment Option For U.S. Users - page 2. (Read 248 times)