Topic: Now Paypal allows us to withdraw BTC to third party wallets - page 2. (Read 312 times)
Since Paypal is really strict, not only for crypto but for anything else, i wouldn't think i do anything crypto related in there. But not means it is bad, i mean every adoption will be good for crypto, but as long my local exchanges still allowing me to do anything common that we do in crypto, i prefer to choose it.
Despite that we don’t have the full custody of Bitcoin and other cryptocurrencies stored on Paypal, this latest move from them is likely a big move!
Source: https://gadgets.ndtv.com/internet/news/paypal-cryptocurrency-wallet-third-party-bitcoin-price-withdraw-digital-coin-allow-users-2450112
But the real question are the withdrawal fees from Paypal to third party wallets. And will they freeze our account if we withdraw a large amount of Bitcoin to our third party wallet? Although this news is a bit of a big news for Bitcoiners out there, it’s still “not your keys, not your coins”.
Any thoughts on this one guys?
Source: https://gadgets.ndtv.com/internet/news/paypal-cryptocurrency-wallet-third-party-bitcoin-price-withdraw-digital-coin-allow-users-2450112
But the real question are the withdrawal fees from Paypal to third party wallets. And will they freeze our account if we withdraw a large amount of Bitcoin to our third party wallet? Although this news is a bit of a big news for Bitcoiners out there, it’s still “not your keys, not your coins”.
Any thoughts on this one guys?
Lol! Finally! But yes, the risk of banning your withdrawal is still there. It was always there with any centralized wallet service providers, and it's the same with Paypal as well. Especially when Paypal was very stringent in all their actions and policy formations.
Unfortunately, I couldn't find anything official from Paypal's website yet. All I am getting this news from different news websites. Is there anyone who can share an official link of this news?
PayPal is now less bad, but it's still pretty bad, their fees are horrendous and make centralized exchanges look like charity. I think most people who would trade crypto via PayPal are existing PayPal users who have balance, and newcomers who want to buy Bitcoin would almost always choose an exchange.
Well, now this neutralizes my earlier fears of PayPal selling fake BTC. But I suppose they're gonna charge fees so high people would rather not take their money off the platform..
Anyway, glad to know they at least offer this option - high fees or not, it's much better than selling something you can't claim.
Anyway, glad to know they at least offer this option - high fees or not, it's much better than selling something you can't claim.
that will probably the case. its still like stealing from users who are withdrawing their coins. they already got spread from them buying coins and after it the withdrawal fees too. this will force users not withdrawing but youd be surprise as well when they ask fees for storing coins on paypal lol i overthink it this time. 😄
these are just posibilities. its still good to have them on board.
PayPal black hole is finally opening slightly, maybe because lot of people asked them for Bitcoin withdrawal option, but they are probably still worse than average centralized exchanges,
and I think they are doing this only because they want to attract more crypto users as there are some rumors that they are working on their own centralized stablecoin, maybe called PayPal coin.
I can't find more information about this and how much are fees going to be for withdrawing Bitcoin, but I am sure they will be premium high and this option will only be available to citizens of United States.
Better read their terms carefully before using your PayPal account for anything crypto related.
and I think they are doing this only because they want to attract more crypto users as there are some rumors that they are working on their own centralized stablecoin, maybe called PayPal coin.
I can't find more information about this and how much are fees going to be for withdrawing Bitcoin, but I am sure they will be premium high and this option will only be available to citizens of United States.
Better read their terms carefully before using your PayPal account for anything crypto related.
Well, now this neutralizes my earlier fears of PayPal selling fake BTC. But I suppose they're gonna charge fees so high people would rather not take their money off the platform..
Anyway, glad to know they at least offer this option - high fees or not, it's much better than selling something you can't claim.
Anyway, glad to know they at least offer this option - high fees or not, it's much better than selling something you can't claim.
ever since before there's a bunch of news about paypal will add bitcoin on their platform but so far this one seems legit.. But there's no difference with some wallet out there that implement bitcoin wherein the same as usual, so im wondering what will be a big move on this? Perhaps this cannot give a big contribution even its been a decentralised trusted wallet for how many years as well.. Just saying correct me if i'm wrong guys.
Despite that we don’t have the full custody of Bitcoin and other cryptocurrencies stored on Paypal, this latest move from them is likely a big move!
What a big move? I do not use PayPal and I can not use PayPal to buy or sell cryptocurrencies. When PayPal has no option is the reason for the move. But the best way to buy and sell cryptocurrencies still remain using decentralized platforms. Although, people are using centralized platforms but not privacy oriented. 
Does this mean that PayPal is now part of the crypto ecosystem?
You could say that.
If you are aware of the ROBINHOOD incident, PayPal is pretty much a similar entity, being run as a traditional corporation that might pull any tricks if the markets become too volatile against its interests.
Does anyone know if crypto services are still only available for U.S citizens? and whether it's soon coming to the rest of the world?
My understanding is that they need to do a lot of paperwork and formalities if they want to make cryptocurrency available for the other countries. Still, looking at the pace at which they are adding new features to their cryptocurrency services, I won't be surprised if they make their service available to users in cryptocurrency friendly jurisdictions such as Japan, Canada and European Union within the next few months. For users in more restrictive countries (such as Indonesia and Philippines), it may take some more time.
Does anyone know if crypto services are still only available for U.S citizens? and whether it's soon coming to the rest of the world?
Looks like its still exclusive to the US for now. We might see gradual expansion by the end of 2021 and beyond.
Quote
Currently, buying, selling, holding, and checkout with Crypto on PayPal is available in the U.S. (excluding Hawaii) and U.S. territories. All trades must be executed in USD. We plan to expand this service to select global markets in 2021.
https://www.paypal.com/us/smarthelp/article/cryptocurrency-on-paypal-faq-faq4398?app=searchAutoComplete 
But the real question are the withdrawal fees from Paypal to third party wallets.
It'll probably charge a high fee, because he-he, it's PayPal.And will they freeze our account if we withdraw a large amount of Bitcoin to our third party wallet?
Why would they freeze your account for such reason? They literally say that you're free to send your bitcoins to other custodial wallets. They surely have a limit of withdrawal, although it shouldn't be smaller than your current BTC balance. This may be an improvement, if you didn't want your
But the real question are the withdrawal fees from Paypal to third party wallets. And will they freeze our account if we withdraw a large amount of Bitcoin to our third party wallet? Although this news is a bit of a big news for Bitcoiners out there, it’s still “not your keys, not your coins”.
That's no different than what centralized exchanges do, there is always that risk. Still, letting their users withdraw their crypto is a big step forward. I was actually expecting it since Skrill did the same thing not a long time ago.
Does anyone know if crypto services are still only available for U.S citizens? and whether it's soon coming to the rest of the world?
Despite that we don’t have the full custody of Bitcoin and other cryptocurrencies stored on Paypal, this latest move from them is likely a big move!
Source: https://gadgets.ndtv.com/internet/news/paypal-cryptocurrency-wallet-third-party-bitcoin-price-withdraw-digital-coin-allow-users-2450112
But the real question are the withdrawal fees from Paypal to third party wallets. And will they freeze our account if we withdraw a large amount of Bitcoin to our third party wallet? Although this news is a bit of a big news for Bitcoiners out there, it’s still “not your keys, not your coins”.
Any thoughts on this one guys?
Source: https://gadgets.ndtv.com/internet/news/paypal-cryptocurrency-wallet-third-party-bitcoin-price-withdraw-digital-coin-allow-users-2450112
But the real question are the withdrawal fees from Paypal to third party wallets. And will they freeze our account if we withdraw a large amount of Bitcoin to our third party wallet? Although this news is a bit of a big news for Bitcoiners out there, it’s still “not your keys, not your coins”.
Any thoughts on this one guys?
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