PayPal and Mastercard are very close to integrate crypto’s payments!!!

goldade

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Quote from: Juggy777 on July 20, 2020, 12:31:19 PM

According to Coindesk latest article PayPal has selected Paxos to manage PayPal crypto’s transactions, and in my personal opinion this is a big development as PayPal is used by million people all over the globe, and soon they all will be able to buy and sell crypto’s using PayPal.

Furthermore another positive news i.e. Mastercard will allow wirex to issue crypto based cards, and it’s quiet possible that people maybe able to exchange their crypto’s for fiat instantly using those crypto based cards.

Lastly I believe that these two news shall motivate people to buy and hodl bitcoins, but then again it’s quiet possible that they may quickly sell it too, however what do you’ll think of these two news?.

Sources:

https://www.coindesk.com/blockchain-bites-paypal-mastercard

https://www.paypal.com/uk/webapps/mpp/paypal-popup

This is an awesome news for the crypto space. Using PayPal and MasterCard to buy bitcoins shows these two are endorsing cryptocurrencies and this is telling the people using these two platforms that crypto can be trusted.
I trust that there'll be massive adoption of bitcoin, if not crypto in general, by the public because of the reputation these two platforms have built over the years

Detrix

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These are great news since there are millions of people globally using PayPal, so it will be easier to sell and buy bitcoins. The crypto-based cards will allow instant crypto transactions. Many people already trust the two systems, hence it could bring a positive im[act on cryptocurrencies.

bitcoinst

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I think it's better for people to have the opportunity to use this "crutch" from PayPal. It is obvious that everything will happen there through verification and blah blah blah.
But, the main point that I see in all this is that there will be more trust in bitcoin and cryptocurrency after this function is implemented.
I am sure PayPal will somehow advertise it, which may push people to use cryptocurrency.

Sebas.tian

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Quote from: ?? on ??

The easier it is the more people will use it, so I see this as a big win. They have a good repuation (well most of) and giving people access in a uncomplicated manner can just be good to support the global acceptance rate

Are you referring to PayPal as a company? Unfortunately this company has no single reputation when talking about companies about to venture into cryptocurrency, this company had done evil to her customers including myself about my pending transactions. Their support service is the worst among all others. MasterCard is what am happy for coming into the cryptocurrency space because they actually have their reputation built solidly and their presence will help grow global adoption.

Twentyonepaylots

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Quote from: 20kevin20 on July 21, 2020, 07:08:32 AM

Quote from: hd49728 on July 21, 2020, 07:00:20 AM

It is a good news for crypto adoption worldwide and I see opportunities that cryptocurrency can solve the charge back problems on PayPal.

Is it a good news for worldwide crypto adoption or is it good news for PayPal adoption? Because it doesn't really look like we're helping crypto much in this case..

It is good for both paypal and crypto I guess since there will be people that would look for crypto in paypal if this happens, more likely we will be seeing a bunch of newbies in the crypto scene, the opening would be the paypal. The most negative I can think of about this is that scammers now will use paypal as their front, so we need to spread awareness as early as now to prevent any conflicts between paypal and user/new user. This might also be the eye opener for those who are using conventional currency such as fiat, once a known and giant company opens this, it would be trending.

Quote from: 20kevin20 on July 21, 2020, 07:08:32 AM

The only positive side is that you'll most likely be able to purchase BTC even as a complete newbie, and way easier than having to go through the pretty high amount of hassle you have to go through when learning about wallets, seeds, keys etc. But otherwise, this piece of information doesn't get me excited even a bit.

I think we already have enough people for this, knows what the importance of wallet, hardware and software etc. We are just expecting a bunch of newbies that will probably use paypal for storing crypto they will offer. As much of a local wallet, what do you think?

yhiaali3

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This will be really great news in the event that Paypal and MasterCard did not request verification via KYC, in the event that it will be, this will not be good news, especially as the companies are banning many countries.
For me, I live in a country that is banned from the services of the two companies, so it will not really matter to me whether they accept Bitcoin or not. These are central companies and they like to control and therefore I think they will enforce verification through KYC.

yazher

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This is the most important news you can get this year. we are talking about Paypal here dude, this is the first time I heard that they will gonna make their own version of crypto payments. then our access into the other method of payments online will become wide like that of PayPal. this is because most of the company who partnership with Paypal might accept bitcoin as a means of payments. I'm very excited because some of the online games I'm currently playing are not accepting crypto payment yet but they will gonna accept it soon because of what about to happen. Thanks, Paypal.

dothebeats

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Depends on how you look at it. It's not new for Paypal to be linked with cryptocurrencies, although it was never explicitly stated anywhere that they are working with bitcoin specifically, just now. While this technically opens up a new avenue for new players in the game to discover cryptocurrencies, I just don't think that this will be enough as a fuel for the next possible bull run since most of the people are still struggling. Paypal and Mastercard are both huge and trusted institutions, though we still don't know how things would pan out in the end.

These things are still subject to speculation, since Paypal hasn't really acted much on this subject with certainty.

elisabetheva

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actually, even if paypal no longer uses bitcoin is not an issue that needs to be raised. even though we know that paypal users are very large and clearly very potential potential.
but bitcoin is has its own base and is recognized, so there is no need to doubt that there will be many who accept bitcoin in any form of change in electronic payment instruments.

bitcoin does not need to be searched for to be used as a payment tool but it will certainly come in person like the mastercard told by the op who ultimately recommended it to be used as a direct exchange tool.
because with advances in technology, it is natural that what is known will be sought to be used to smooth out what they have, because they need bitcoin, not vice versa. because there are many transactions that will also be profitable.

Harlot

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If this is true then really it would start a ripple effect in the big billion dollar companies out there to be inside the crypto industry and I'm glad that it's finally happening that Bitcoin and cryptocurrencies are finally catching up to the blockchain technology whom the companies have noticed and exploited now a big company like Paypal has set in and I think not only big companies will enter the market but also make mass adoption a little bit realistic for us.

gentlemand

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Quote from: pixie85 on July 21, 2020, 04:46:06 PM

The youtube pumpers are talking about it in their videos saying that it might be a trigger for another bull run but they used to say it when the first paypal news came out and as we all could see there was no significant move up, even a move down to 9000 dollars instead of a run up.

I'm bullish long term but I don't think these news can take us above 10 thousand again. It's justa nother gateway for buyers. Bakkt was supposed to be such gateway and we are where we used to be.

No service introduction has ever created a bull run and it never will. I wish people would stop billing stuff that way. We have years and years of non track record to draw on now. Demand does not meekly wait for one particular portal to open up. It pours in however it can.

What they can do is make future bull runs more powerful. Every new gateway adds to the fire.

The truly important message it sends is that this makes it clear that Bitcoin and pals are not going anywhere and are only going to grow. Countries that ban it are going to look increasingly dim.

Lucius

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Quote from: https://www.coindesk.com/blockchain-bites-paypal-mastercard

It’s unknown what cryptocurrencies PayPal intends to offer, though its entry into the space makes it one of the most mainstream companies to do so.

This is not the first time that PayPal has been linked to cryptocurrencies, and two years ago things were presented this way :

Quote from: https://www.pymnts.com/blockchain/bitcoin/2018/paypal-bitcoin-cryptocurrency-blockchain/

Digital payment company PayPal is not betting on bitcoin as of now. In an interview with TheStreet.com, PayPal chief executive officer Dan Schulman said that while PayPal is focused on innovating in the payment market, it’s not focused specifically on the digital currency.

“I think right now, and we’re seeing this maybe more than ever, the volatility of the cryptocurrency makes it actually unsuitable to be a real currency that retailers can accept,” Schulman said in the interview. “[That’s] because retailers have very narrow margins, and when you have a bitcoin bouncing up and down by 15 percent over a couple weeks period, that can be the difference between profits and losing money on every sale.”

While Schulman is skeptical about bitcoin, he did says blockchain technology is a “real breakthrough” for any technologies that are founded on distributed trust. PayPal has a lot of room to innovate with blockchain technology.

No one actually mentions Bitcoin in relation to PayPal, nor should it be expected that end users can profit by the fact that PP may in some way enter the world of cryptocurrencies. For me, these are two different worlds and I don't see how to connect them in a way that makes sense - unless someone wants to pay a miner fee first to send BTC to PP, and then another fee to spend that same BTC on something + extra fee to PP for serving as escrow?

pixie85

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The youtube pumpers are talking about it in their videos saying that it might be a trigger for another bull run but they used to say it when the first paypal news came out and as we all could see there was no significant move up, even a move down to 9000 dollars instead of a run up.

I'm bullish long term but I don't think these news can take us above 10 thousand again. It's justa nother gateway for buyers. Bakkt was supposed to be such gateway and we are where we used to be.

sheenshane

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This a good news to us as crypto enthusiasts, because it will surely have a good impact on the price because of these two giant companies that might lead to Bitcoin having mass adoption. PayPal currently has 286 million active users while Mastercard will surely countless of users they have(trillions maybe), if these number of users will hold Bitcoin and or use Bitcoin for a daily transaction, for sure there will be a huge pump of the price.

They must prepare to have multiple security levels at this point to avoid security breaches, we had heard different hacking of crypto and we don't want to discredit again the name of Bitcoin or in crypto in general.

Rengga Jati

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Quote from: Juggy777 on July 20, 2020, 12:31:19 PM

snip..

PayPal and Mastercard, well, are two very popular and trusted payment methods. These two things are mostly done or conducetd by most people in the world. The way and mechanism are also very simple and globally conducted. So, we will face any big difficulties in using this.
Whe the PayPal integrated with crypto, I'm thinking about what kind of mechanism will payPal use? Is it only the blockchain technology or even the cryptocurrency itself by PayPal?

Quote from: Slow death on July 20, 2020, 01:09:31 PM

..
I clicked on this link and didn't see anything
..

Probably you need to referesh your internet connection or probably it as the worng link before edited. Sorry.
Aside form this, Paypal will be welcomed so warmly in the crypto world. Moreover it no needs to use this as payment, it is so easy in only some steps.

smyslov

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Quote from: Juggy777 on July 20, 2020, 12:31:19 PM

According to Coindesk latest article PayPal has selected Paxos to manage PayPal crypto’s transactions, and in my personal opinion this is a big development as PayPal is used by million people all over the globe, and soon they all will be able to buy and sell crypto’s using PayPal.

Furthermore another positive news i.e. Mastercard will allow wirex to issue crypto based cards, and it’s quiet possible that people maybe able to exchange their crypto’s for fiat instantly using those crypto based cards.

Lastly I believe that these two news shall motivate people to buy and hodl bitcoins, but then again it’s quiet possible that they may quickly sell it too, however what do you’ll think of these two news?.

Sources:

https://www.coindesk.com/blockchain-bites-paypal-mastercard

https://www.paypal.com/uk/webapps/mpp/paypal-popup

Two major companies adopting and integrating Cryptocurrency will make a huge difference, I am comfortable to where we are now, this is the reason why even the pandemic cannot take down Cryptocurrency, this has been what we all we want easy payment and buying of Cryptocurrency this will make people easy to get in, it will generate interest to Cryptocurrency.

hd49728

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Quote from: 20kevin20 on July 21, 2020, 07:08:32 AM

Is it a good news for worldwide crypto adoption or is it good news for PayPal adoption? Because it doesn't really look like we're helping crypto much in this case..

The only positive side is that you'll most likely be able to purchase BTC even as a complete newbie, and way easier than having to go through the pretty high amount of hassle you have to go through when learning about wallets, seeds, keys etc. But otherwise, this piece of information doesn't get me excited even a bit.

It help to spread the world Bitcoin out concurrently with PayPal. They are spred out together. I don't like that technical and financial implementation of this one on PayPal because of customer privacy problems. About adoption, I think it is good for both.

Quote from: Oasisman on July 21, 2020, 07:32:13 AM

More of like Paypal adoption than Bitcoin adoption as they are expanding the horizon on different kinds of currency payments. Infact PayPal has been chasing for this for quite some time already, there were rumors before that they even showed interest in blockchain at first and will create their own crypto.
However, this might also be an advantage for Bitcoin as this will give exposure specially to those people who are using PayPal, but not much into crypto. Though this might require your financial info linked to your crypto wallet for convenience.

PayPal is the same as others include local governments, all want to take advantage of Bitcoin and blockchain growth to misguide their locals. I don't have any belief in governments that they really want to build up a truly decentralized blockchain in their nations. If there are something they will build up for, it will be centralized.

Oasisman

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Quote from: 20kevin20 on July 21, 2020, 07:08:32 AM

Quote from: hd49728 on July 21, 2020, 07:00:20 AM

It is a good news for crypto adoption worldwide and I see opportunities that cryptocurrency can solve the charge back problems on PayPal.

Is it a good news for worldwide crypto adoption or is it good news for PayPal adoption? Because it doesn't really look like we're helping crypto much in this case..

More of like Paypal adoption than Bitcoin adoption as they are expanding the horizon on different kinds of currency payments. Infact PayPal has been chasing for this for quite some time already, there were rumors before that they even showed interest in blockchain at first and will create their own crypto.
However, this might also be an advantage for Bitcoin as this will give exposure specially to those people who are using PayPal, but not much into crypto. Though this might require your financial info linked to your crypto wallet for convenience.

20kevin20

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Quote from: hd49728 on July 21, 2020, 07:00:20 AM

It is a good news for crypto adoption worldwide and I see opportunities that cryptocurrency can solve the charge back problems on PayPal.

Is it a good news for worldwide crypto adoption or is it good news for PayPal adoption? Because it doesn't really look like we're helping crypto much in this case..

The only positive side is that you'll most likely be able to purchase BTC even as a complete newbie, and way easier than having to go through the pretty high amount of hassle you have to go through when learning about wallets, seeds, keys etc. But otherwise, this piece of information doesn't get me excited even a bit.

hd49728

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Not your keys, not your coins!

Quote from: Juggy777 on July 20, 2020, 12:31:19 PM

According to Coindesk latest article PayPal has selected Paxos to manage PayPal crypto’s transactions, and in my personal opinion this is a big development as PayPal is used by million people all over the globe, and soon they all will be able to buy and sell crypto’s using PayPal.

Furthermore another positive news i.e. Mastercard will allow wirex to issue crypto based cards, and it’s quiet possible that people maybe able to exchange their crypto’s for fiat instantly using those crypto based cards.

It is a good news for crypto adoption worldwide and I see opportunities that cryptocurrency can solve the charge back problems on PayPal. Crypto transactions are almost irreversible. There are odds for reversibility but it is extremely small and we should not care about it. Charge back on PayPal is very risky thing for their customers and it is more important for newbie customers who are lack of experience with PayPay's charge backs.

Personally, I don't like it because of privacy. I don't want to link my fiat to my crypto through any cards directly like that. Data can be required by governments and we don't know what will happen after that. Buying crypto on platform A, then use it to trade on other platforms that will be cool. "Don't store all eggs in a single bag" is better.

Topic: PayPal and Mastercard are very close to integrate crypto’s payments!!! (Read 520 times)