Topic: PayPal created crypto checkout service!! (Read 683 times)
I have never purchased transactions using paypal, now I'm excited because paypal already supports checkout with crypto payments. That is very easy in terms of safe transactions and certainly not complicated. Hopefully not only paypal supports crypto, but similar payments will also support it someday.
Something that should've been done in the past. Though I believe in the saying that it's better late than never. With this update, we expect that more and more people, especially those using paypal services, are going to invest their money into crypto. Which means more people adopting bitcoin, altogether helping bitcoin's price to increase, and maybe just maybe, further bitcoin's advance in becoming a currency that can top the conventional fiat currency we came to know.
As you said, it's better to be late than never, that's what happened to Paypal after providing the crypto checkout service. It's a little late what Paypal
has done, I don't know the real reason why Paypal didn't make the checkout service from the start. Maybe Paypal wants to know feedback from Paypal
users first, it turns out that Paypal user enthusiasm is quite high with Paypal adopting crypto. This is positive news that can trigger the price of Bitcoin
to rise, hopefully more and more Paypal users will invest in crypto now, after Paypal provides crypto checkout service.
Something that should've been done in the past. Though I believe in the saying that it's better late than never. With this update, we expect that more and more people, especially those using paypal services, are going to invest their money into crypto. Which means more people adopting bitcoin, altogether helping bitcoin's price to increase, and maybe just maybe, further bitcoin's advance in becoming a currency that can top the conventional fiat currency we came to know.
Many people criticized Paypal when it first adopted crypto, because Paypal users who had bought crypto but couldn't checkout. But I'm sure Paypal
wants to do some research first before finally providing the current checkout service. Even though it's a little late in my opinion what Paypal has done,
but it's better late than never. And I believe positive news like this will make the Bitcoin price go up even more, because all the positive news related
to crypto will contribute to the increase in Bitcoin price.
I can understand why some people see this with good eyes and if you have some use for this then by all means go for it but you cannot still withdraw your coins, think about this, there is no way to tell at all if the bitcoin that you supposedly bought in their platform is in fact there, this could be an attempt to try to slow down the growth in the price of bitcoin while at the same time bringing more clients to their platform.wants to do some research first before finally providing the current checkout service. Even though it's a little late in my opinion what Paypal has done,
but it's better late than never. And I believe positive news like this will make the Bitcoin price go up even more, because all the positive news related
to crypto will contribute to the increase in Bitcoin price.
So as long as they do not allow you to withdraw your coins then the old classic proverb of "not your keys not your coins" is still true to this day.
I wonder if the cost of electronic money transactions in Paypal is too high compared to the P2P cryptocurrency transaction or not?
If Paypal has a reasonable cost then I believe their service will be very attractive to users. Cryptocurrencies will have an additional money market and that helps promote the development of the cryptocurrency market in a more stable, long-term way.
If Paypal has a reasonable cost then I believe their service will be very attractive to users. Cryptocurrencies will have an additional money market and that helps promote the development of the cryptocurrency market in a more stable, long-term way.
Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said.
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
That's actually nice to have that kind of option especially in PayPal, hopefully, it could be used in a lot of cryptocurrency platform as well because we all use Paypal and we really need that fiat sometimes when we need to convert that cryptocurrency.
I hope it doesn't turn out to be a delay or something like what happened when the cryptocurrency was launch in Paypal where people cannot buy and sell or something.
As a widely used platform like Paypal, I have hopes that they have a lot of plans when the cryptocurrency in their platform. This could actually push the cryptocurrency a step to adaptation if Paypal continues to deliver and obviously a lot more companies and gonna be interested in sure in the future if this is recognized.
Centralized exchanges voids the anonymity but Paypal stealing the crypto access itself, because no withdrawal or send option is available for the cryptos purchased using Paypal so they are having the access to the funds which is also limited should not be encouraged in the long term goals.
From what I have heard, PayPal will enable withdrawals to third party wallets in a few months. It doesn't make much difference for ordinary people who want to invest small amounts such as $100 or $200 in Bitcoin. They will purchase their coins using PayPal and then when the time comes they will sell their coins there and withdraw the amount in USD or any other fiat currency. Obviously for experienced cryptocurrency users, that is an unsatisfactory proposition.
But if they allow people to withdraw cryptos then it will become on of the highly traded crypto exchange in the next few months.
Centralized exchanges voids the anonymity but Paypal stealing the crypto access itself, because no withdrawal or send option is available for the cryptos purchased using Paypal so they are having the access to the funds which is also limited should not be encouraged in the long term goals.
From what I have heard, PayPal will enable withdrawals to third party wallets in a few months. It doesn't make much difference for ordinary people who want to invest small amounts such as $100 or $200 in Bitcoin. They will purchase their coins using PayPal and then when the time comes they will sell their coins there and withdraw the amount in USD or any other fiat currency. Obviously for experienced cryptocurrency users, that is an unsatisfactory proposition.
Paypal has so many users all over the world and this is really good news that they have now accepted the crypto checkout service or the feature wherein you can bow cash it out into fiat currency, this is a good step for making the crypto community bigger, step by step, little by little and soon we could see that bitcoin will be adopted by so many companies and businesses around the world.
sometimes this news can bring positive news for a coin, I think now with the big name paypal with this news can be used as one of the best options to increase crypto, because since the popularity of crypto paypal has always been made as one of the options that have always been rumored with crypto
yes the good news about paypal since this year has continued to come out and work together to fix the cryptocurency system in their company, hopefully many companies will follow and support bitcoin such as paypal and Tesla good news, when Paypal opens a checkout service for bitcoin it will make bitcoin prices even higher, and bitcoion holders will also increase
but this service cannot be enjoyed by the wider community, not only certain countries can use it?
doubt it's gonna create any significant pump to the market since things like this that allows people to checkout with cryptocurrency and the seller receives it in form of fiat already exists like for years so it won't be as impactful.but this service cannot be enjoyed by the wider community, not only certain countries can use it?
However, when it comes to their crypto checkout service I think it's gonna be limited to certain countries as you said, due to regulatory problem, paypal is too big to be under radar.
Paypal adoption is not actually a great thing happened to the crypto community because they try to create the centralized payment system even with the bitcoin and the only positive thing is more people will hear the name bitcoin due to paypal adoption.
most people (at least in my opinion) use centralized exchanges, use centralized websites to buy bitcoin through bank cards, and use centralized services to withdraw bitcoin to the bank. so the issue of decentralization has been "weakened" for a long time and we have to accept that this was something predictable and inevitable to happen. People can enjoy their anonymity and decentralization when they do hodl because the coins are in the wallet where the person has control of the private keys, at least still have this great advantage, but when it comes to making trade and withdrawing funds for the bank the person will have to forget anonymity and decentralization
Paypal adoption is not actually a great thing happened to the crypto community because they try to create the centralized payment system even with the bitcoin and the only positive thing is more people will hear the name bitcoin due to paypal adoption.
most people (at least in my opinion) use centralized exchanges, use centralized websites to buy bitcoin through bank cards, and use centralized services to withdraw bitcoin to the bank. so the issue of decentralization has been "weakened" for a long time and we have to accept that this was something predictable and inevitable to happen. People can enjoy their anonymity and decentralization when they do hodl because the coins are in the wallet where the person has control of the private keys, at least still have this great advantage, but when it comes to making trade and withdrawing funds for the bank the person will have to forget anonymity and decentralization
The news recently are very encouraging. BNY Mellon, VISA, Paypal, etc. There must be an upcoming surge in the price of Bitcoin related to all these very bullish news. Well, it has already started right now. The price is already reacting, surging past $58,000 very quickly. $60,000 within the day is very possible.
At least Paypal's treatment of Bitcoin has improved because of this. Bitcoin (BTC), Etherum (ETH), and Litecoin (LTC) are now real currencies with this fresh Paypal decision.
slowly but surely this happens, the price of bitcoin is currently experiencing a significant increase. So I think the issue is making crypto users happy and also the crypto market is volatile. maybe because the use of credit cards for crypto is getting bigger, making crypto an option for credit card companies to raise the issue At least Paypal's treatment of Bitcoin has improved because of this. Bitcoin (BTC), Etherum (ETH), and Litecoin (LTC) are now real currencies with this fresh Paypal decision.
Paypal adoption is not actually a great thing happened to the crypto community because they try to create the centralized payment system even with the bitcoin and the only positive thing is more people will hear the name bitcoin due to paypal adoption.
most people (at least in my opinion) use centralized exchanges, use centralized websites to buy bitcoin through bank cards, and use centralized services to withdraw bitcoin to the bank. so the issue of decentralization has been "weakened" for a long time and we have to accept that this was something predictable and inevitable to happen. People can enjoy their anonymity and decentralization when they do hodl because the coins are in the wallet where the person has control of the private keys, at least still have this great advantage, but when it comes to making trade and withdrawing funds for the bank the person will have to forget anonymity and decentralization
But people who really wanted to spend their cryptos for purchases will be happy about the news but who is going to spend it when everyone interested on holding?
I asked myself the same question
It already is as easy as using fiat, there's this thing called crypto debit card that allows you make payment in so many websites and direct crypto payment gateway also available, even if you want to buy things from your local store you can simlpy buy gift card or just use physical crypto debit card.
only a few countries have the privilege of using this option, in Africa for example it does not have this possibility
This news is a good move and I very much welcome PayPal news that allows new users to buy crypto from them.
~
Paypal has a very large user and spread all over the world, with the integration with cryptocurrency will give a new view to ordinary people that cryptocurrency is not "scary" like many reported in the media. This is a pretty good step to make crypto even more popular and easier to use.~
thus the interoperability of this ecosystem is getting better, we will be more flexible in using crypto for our daily needs, isn't that fun?
I wish that amazon will join and start to accept bitcoin. Amazon marketplace contains a variety types of people and the richest man (both richest men) on the earth will make bitcoin more well-known
This news is a good move and I very much welcome PayPal news that allows new users to buy crypto from them.
~
Paypal has a very large user and spread all over the world, with the integration with cryptocurrency will give a new view to ordinary people that cryptocurrency is not "scary" like many reported in the media. This is a pretty good step to make crypto even more popular and easier to use.~
thus the interoperability of this ecosystem is getting better, we will be more flexible in using crypto for our daily needs, isn't that fun?
Many people criticized Paypal when it first adopted crypto, because Paypal users who had bought crypto but couldn't checkout. But I'm sure Paypal
wants to do some research first before finally providing the current checkout service. Even though it's a little late in my opinion what Paypal has done,
but it's better late than never. And I believe positive news like this will make the Bitcoin price go up even more, because all the positive news related
to crypto will contribute to the increase in Bitcoin price.
wants to do some research first before finally providing the current checkout service. Even though it's a little late in my opinion what Paypal has done,
but it's better late than never. And I believe positive news like this will make the Bitcoin price go up even more, because all the positive news related
to crypto will contribute to the increase in Bitcoin price.
good news, when Paypal opens a checkout service for bitcoin it will make bitcoin prices even higher, and bitcoion holders will also increase
but this service cannot be enjoyed by the wider community, not only certain countries can use it?
but this service cannot be enjoyed by the wider community, not only certain countries can use it?
This news is a good move and I very much welcome PayPal news that allows new users to buy crypto from them.
So more and more crypto users are finally being able to push crypto to another level higher in mass adoption.
It is that PayPal is correct in its statement because crypto is an asset that cannot be underestimated.
So more and more crypto users are finally being able to push crypto to another level higher in mass adoption.
It is that PayPal is correct in its statement because crypto is an asset that cannot be underestimated.
sometimes this news can bring positive news for a coin, I think now with the big name paypal with this news can be used as one of the best options to increase crypto, because since the popularity of crypto paypal has always been made as one of the options that have always been rumored with crypto
Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said.
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
29 million merchants is a lot. With this move, Paypal is opening up the door to online purchases through cryptocurrencies.
This can be huge depending on the number of crypto users Paypal has and that number is bound to increase through this move.
May be this can even start another bull run. <3
With the current restrictions that US citizens have, seeing that Paypal gives them this option is one of the best solutions for them, therefore, the price must go up, it is not surprising that today, tomorrow or this week we see a new ATH in Bitcoin. Much has been speculated that one of the greats is taking the reins in Crypto, Paypal, Elon Musk with the powerful Tweets of him causing Doge to rise again, with all this activity it is likely to see new ATHs with great magnitude.
The market capitalization has gone up a lot to almost $ 1.9Trillion, these are really big numbers, which is good to see this kind of thing happen in the market.
Quote
The market cap of all cryptocurrencies surpassed $1.9 trillion on March 31, according to data from major crypto monitoring resources like CoinGecko and CoinMarketCap. The total market cap reached as high as $1.99 trillion earlier on the day, hitting a new all-time record.
Source: https://cointelegraph.com/news/total-crypto-market-capitalization-posts-new-all-time-high-above-1-9t
Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said.
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
29 million merchants is a lot. With this move, Paypal is opening up the door to online purchases through cryptocurrencies.
This can be huge depending on the number of crypto users Paypal has and that number is bound to increase through this move.
May be this can even start another bull run. <3
So is it like a bitcoin payment gateway? Will the customers covers the network fees, plus paypal fees?
Or it’s only available for paypal users who already converted their fiat to bitcoin on their paypal app before?
Also, paypal is legally accepted in countries where cryptocurrecy was banned as a medium of transactions, how it will works?
Edited:
“Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies...”
Or it’s only available for paypal users who already converted their fiat to bitcoin on their paypal app before?
Also, paypal is legally accepted in countries where cryptocurrecy was banned as a medium of transactions, how it will works?
Edited:
“Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies...”
Yes, news are cool at first glance before you starting the analysis of this situation. There are more questions than answers as usual. When the PayPal announced their acceptance of Bitcoin everyone really was pleasantly surprised till first users learning the question deeper. Let's wait and will see. The nuance with countries where crypto is forbidden but PayPal works really is unclear. Something tells me that news sounds brighter than the reality will be.
The other day it was Visa and now, Paypal! This is big news for the whole crypto space! Honesty, I wouldn't use Paypal for crypto just because we all know PayPal already but for newbies, this is great news! Massive adoption incoming! On the other hand, do you guys this will also be possible for stocks like this? I mean using Paypal to buy stocks?
We hope so. This year can be the time for the massive adoption incoming to cryptocurrency. Many big companies announce they are integrating into the crypto or investing in bitcoin, which will convince people to follow their step. We hope they can learn more about bitcoin before they invest in bitcoin because if they do not learn, they will panic if they see the bitcoin price is too volatile. That will be the next regulation from Paypal if they will allow their members to buy stocks, but I am not sure about that.For what PayPal had to do now and their plan towards Bitcoin is a big influence for other platforms to do the same. Bitcoin could stay many years and these business owners will clearly be seeing the potentiality of it. And this serves as a big opportunity for all PayPal users to know more about Bitcoin and appreciate its role in today's economic situation.
Paypal, Visa, Tesla, Mastercard is a sample of the big company that integrated their payment with bitcoin, making people see bitcoin become more popular this year. It can help the adoption still work and invite the other big company and people to buy bitcoin.
The news recently are very encouraging. BNY Mellon, VISA, Paypal, etc. There must be an upcoming surge in the price of Bitcoin related to all these very bullish news. Well, it has already started right now. The price is already reacting, surging past $58,000 very quickly. $60,000 within the day is very possible.
I agree. I already posted about VISA and Paypal checkout service for crypto and it is great to see that it catches momentum. Perhaps, there's something in line for BTC and crypto in general that we don't yet know about...Either way, getting this news out there can only be +ve for the crypto holders and enthusiasts alike.
im wondering how they will handle payments done with btc for tax purposes. like do you get a 1099 or something? do you have to keep track of your cost basis and such yourself?
Any income coming from cryptocurrency payments are settled in fiat. PayPal users may choose to pay their purchases using cryptocurrencies but the merchants tied up with PayPal will not be receiving payments in cryptocurrencies. They will get funds in fiat. So I guess they will still fill out 1099 forms for tax purposes. But everything will be fiat-denominated. In this case, the US dollar.
The US government will not easily release all transactions in Crypto without any taxes, and this is the most effective way that Paypal uses to accommodate all the needs of its customers. Consumers are facilitated by the existence of crypto and users still have to obey taxes, namely by facilitating Paypal in its conversion policy to fiat. It's very easy for everything I think other big companies will soon imitate. This could be a big example of implementing crypto transactions in the world ..
Impressive! More companies are working with crypto these days. That gives me hope.
Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said.
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
Yes, this is pretty good news and I think it will have a positive impact on the market and a positive response from consumers. I am personally pleased with this fact. I just hope there are no fees for these transactions or at least they will be affordable.
Since the start of the pandemic many people are leaning towards digital payments (contactless transactions) it's the perfect time for cryptocurrencies to step into the spotlight. This year has been great to crypto, Elon Musk with bitcoin, the value increase, and now paypal. Paypal is the perfect way for newbies to get to know the three leading coins in the market which is bitcoin, litecoin, and ethereum. Moreover, it will be more easy for people to use these three coins in transactions, since paypal is the digital wallet that is usually required to do online payments.
- Pandemic times are truly a financial door opening to the crypto world for people all over the world as it serves as an income earning solution in times of crisis, many famous people have created the springboard for it, typically Tesla, Elon Musk, most recently PayPal and Visa have official announcements about the services. These contributions are great but are corporations that are regulated and taxed by the government, Bitcoin users should also avoid using these services, the concept of crypto taxation is still vague and quite high
Paypal is embarking on cryptocurrencies to avoid losing their brand value as most big businesses have jumped into this market. Providing electronic money payment services will help the crypto market expand and retain value and liquidity in the long run. I'm thinking about the long-term uptrend of this bull run in the crypto market.
The other day it was Visa and now, Paypal! This is big news for the whole crypto space! Honesty, I wouldn't use Paypal for crypto just because we all know PayPal already but for newbies, this is great news! Massive adoption incoming! On the other hand, do you guys this will also be possible for stocks like this? I mean using Paypal to buy stocks?
We hope so. This year can be the time for the massive adoption incoming to cryptocurrency. Many big companies announce they are integrating into the crypto or investing in bitcoin, which will convince people to follow their step. We hope they can learn more about bitcoin before they invest in bitcoin because if they do not learn, they will panic if they see the bitcoin price is too volatile. That will be the next regulation from Paypal if they will allow their members to buy stocks, but I am not sure about that.For what PayPal had to do now and their plan towards Bitcoin is a big influence for other platforms to do the same. Bitcoin could stay many years and these business owners will clearly be seeing the potentiality of it. And this serves as a big opportunity for all PayPal users to know more about Bitcoin and appreciate its role in today's economic situation.
im wondering how they will handle payments done with btc for tax purposes. like do you get a 1099 or something? do you have to keep track of your cost basis and such yourself?
Any income coming from cryptocurrency payments are settled in fiat. PayPal users may choose to pay their purchases using cryptocurrencies but the merchants tied up with PayPal will not be receiving payments in cryptocurrencies. They will get funds in fiat. So I guess they will still fill out 1099 forms for tax purposes. But everything will be fiat-denominated. In this case, the US dollar.
The user will be selling his PayPal BTC to PayPal USD, so there may be a need to mention this in the tax returns. And the IRS has made it mandatory to report all the cryptocurrency transactions (irrespective of their size) in the tax return. So if you have hundreds of smaller payments, then it may turn out to be a huge hassle when you file your returns. But there is a chance that by the end of the financial year PayPal may provide you a summary of all such transactions, and you may use the data directly to file the return.
A huge hassle for sure. There are records of course but if you are a regular user of PayPal, by the end of the year you will definitely have a long list of transactions which you need to go over. For sure you need to get back from the time when you purchased your Bitcoin until those moments when you made the purchases. The price of Bitcoin, after all, varies per purchase.
im wondering how they will handle payments done with btc for tax purposes. like do you get a 1099 or something? do you have to keep track of your cost basis and such yourself?
Any income coming from cryptocurrency payments are settled in fiat. PayPal users may choose to pay their purchases using cryptocurrencies but the merchants tied up with PayPal will not be receiving payments in cryptocurrencies. They will get funds in fiat. So I guess they will still fill out 1099 forms for tax purposes. But everything will be fiat-denominated. In this case, the US dollar.
The user will be selling his PayPal BTC to PayPal USD, so there may be a need to mention this in the tax returns. And the IRS has made it mandatory to report all the cryptocurrency transactions (irrespective of their size) in the tax return. So if you have hundreds of smaller payments, then it may turn out to be a huge hassle when you file your returns. But there is a chance that by the end of the financial year PayPal may provide you a summary of all such transactions, and you may use the data directly to file the return.
Since the start of the pandemic many people are leaning towards digital payments (contactless transactions) it's the perfect time for cryptocurrencies to step into the spotlight. This year has been great to crypto, Elon Musk with bitcoin, the value increase, and now paypal. Paypal is the perfect way for newbies to get to know the three leading coins in the market which is bitcoin, litecoin, and ethereum. Moreover, it will be more easy for people to use these three coins in transactions, since paypal is the digital wallet that is usually required to do online payments.
im wondering how they will handle payments done with btc for tax purposes. like do you get a 1099 or something? do you have to keep track of your cost basis and such yourself?
Any income coming from cryptocurrency payments are settled in fiat. PayPal users may choose to pay their purchases using cryptocurrencies but the merchants tied up with PayPal will not be receiving payments in cryptocurrencies. They will get funds in fiat. So I guess they will still fill out 1099 forms for tax purposes. But everything will be fiat-denominated. In this case, the US dollar.
The other day it was Visa and now, Paypal! This is big news for the whole crypto space! Honesty, I wouldn't use Paypal for crypto just because we all know PayPal already but for newbies, this is great news! Massive adoption incoming! On the other hand, do you guys this will also be possible for stocks like this? I mean using Paypal to buy stocks?
We hope so. This year can be the time for the massive adoption incoming to cryptocurrency. Many big companies announce they are integrating into the crypto or investing in bitcoin, which will convince people to follow their step. We hope they can learn more about bitcoin before they invest in bitcoin because if they do not learn, they will panic if they see the bitcoin price is too volatile. That will be the next regulation from Paypal if they will allow their members to buy stocks, but I am not sure about that. 
The other day it was Visa and now, Paypal! This is big news for the whole crypto space! Honesty, I wouldn't use Paypal for crypto just because we all know PayPal already but for newbies, this is great news! Massive adoption incoming! On the other hand, do you guys this will also be possible for stocks like this? I mean using Paypal to buy stocks?
Strictly speaking, I don't think it'd be possible. Crypto was possible since, in the first place, crypto is a type of currency. Stocks, on the other hand, is a part of the company, no matter how small. It'd be quite odd if they ever did something like that. Not to mention that Paypal's crypto payments is basically them holding the funds of literally everyone, meaning only numbers are shown on the user's accounts, and they hold the real assets, which makes it easier for them to do the conversion (so as to avoid fees probably?) Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said.
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
Its already cool they announced that they are creating a way to integrate Cryptocurrencies within PayPal but now that they have implemented it, people will now learn or be interested in learning about Cryptocurrencies because most people wants to know what they are using and not just use it for being hassle-free. PayPal should at least launch an informative subject regarding Cryptocurrencies so people would have knowledge regarding it.
The other day it was Visa and now, Paypal! This is big news for the whole crypto space! Honesty, I wouldn't use Paypal for crypto just because we all know PayPal already but for newbies, this is great news! Massive adoption incoming! On the other hand, do you guys this will also be possible for stocks like this? I mean using Paypal to buy stocks?
I think this is good news and I support it. Because, with this step, many PayPal users will know what bitcoin and cryptocurrency are. and this will increase the adoption of bitcoin. but unfortunately, PayPal does not provide a bitcoin withdrawal feature from their service.
I was negative when I first heard about them because PayPal's reputation was never pristine and I thought this would be a way for them to get more customers and gain more popularity. When you couldn't withdraw it really looked bad for their clients.
Now I see they're going the right way and it could really mean they mean business and are trying to get more involved. Let's see what happens but for now it looks promising.
I think that it is the only direction that Paypal as a business should be going the moment that they started supporting bitcoin and other cryptocurrencies in their system, any hiccups or stagnation is going to be bad for them because most people in the cryptocurrency community is smart enough to see that they are still not ready yet but now that they added this, I think that they are going to be on the good side of the community. Now I see they're going the right way and it could really mean they mean business and are trying to get more involved. Let's see what happens but for now it looks promising.
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I hope in the near future to use crypto as a payment will be as easy as fiat.
It already is as easy as using fiat, there's this thing called crypto debit card that allows you make payment in so many websites and direct crypto payment gateway also available, even if you want to buy things from your local store you can simlpy buy gift card or just use physical crypto debit card.Now that paypal also accept crypto for check out,could means bitcoin is already widely accepted enough to be used around the world regardless the country.
im wondering how they will handle payments done with btc for tax purposes. like do you get a 1099 or something? do you have to keep track of your cost basis and such yourself?
I was negative when I first heard about them because PayPal's reputation was never pristine and I thought this would be a way for them to get more customers and gain more popularity. When you couldn't withdraw it really looked bad for their clients.
Now I see they're going the right way and it could really mean they mean business and are trying to get more involved. Let's see what happens but for now it looks promising.
Now I see they're going the right way and it could really mean they mean business and are trying to get more involved. Let's see what happens but for now it looks promising.
I think it would be a better idea if it's not only convertible into fiat but also withdrawal from PayPal to another wallet. It's like giving a feature that's lack of the better ones.
They should make it also available that their users can withdraw bitcoin to another bitcoin wallet and so on.
They should make it also available that their users can withdraw bitcoin to another bitcoin wallet and so on.
I hope they will soon add this feature as many users may like this one. But for now, we can see that they are evolving with their crypto services so I believe we will get there. Also, they are realizing that crypto users really don't use their platform because there are better trading platforms that they can use for the same service. However, this is a stepping stone for newcomers in crypto, at least an introductory phase for them to be well-versed in crypto transactions. Once they realized that what PayPal is offering is very different from what crypto-exchanges are offering, they will move to another platform.
Too bad it is only a custodial service. I don't think you can even deposit bitcoin on PayPal yet.I don't really see the point of buying what is supposed to represent bitcoin only to spend it as USD. It is much simpler to just use your USD balance directly and avoid any exchange fees.
Now to the point: Checkout with Crypto is the game changer.
Unfortunately not in the EU yet, but the PayPal acceptance is an extreme stepping stone in my opinion. A transaction fee is not due, the hammernews in the news and for PayPal merchants there are no additional fees. In the terms of use, however, PayPal makes it clear that it also earns money from the sale of cryptocurrencies on its platform with "Checkout with Crypto". For users, the advantage lies not least in the security promises made by PayPal, including protection against fraud and the ability to return purchased goods. It's changing so many people now, it's a Senasation.
Unfortunately not in the EU yet, but the PayPal acceptance is an extreme stepping stone in my opinion. A transaction fee is not due, the hammernews in the news and for PayPal merchants there are no additional fees. In the terms of use, however, PayPal makes it clear that it also earns money from the sale of cryptocurrencies on its platform with "Checkout with Crypto". For users, the advantage lies not least in the security promises made by PayPal, including protection against fraud and the ability to return purchased goods. It's changing so many people now, it's a Senasation.
Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said.
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
Seems like good news have started to pour in in crypto space. I also read this news just few minutes back in my feed and I got into pleasant surprise.The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
My guess in soon PayPal will allow conversion aof btc/eth to fiat and vice versa also very soon.
If someone send you btc, no need to send it to exchange yo convert to fiat, just convert it on PayPal and get fiat into your bank account.
Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said.
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
You can use your bitcoin while purchasing something and that is well and good but i would like to know when they are planning to allow their customers to withdraw the coins and that is the only feature majority of them are waiting. If PayPal could add that basic function of any service then i would accept them as a revolution as it could attract massive adoption if they allow withdrawal function. The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
It is very good that the use of cryptocurrencies is as easy as using the dollar through a Paypal card, this will make it very easy to buy cryptocurrencies or convert them into dollars via Paypal.
Visa also aims to use cryptocurrencies through its card, the news was announced on Reuters two days ago, where users will be able to transfer their crypto assets in their balance on the Crypto.com site via Visa Crypto.com card.
The entry of the two largest money transfer companies in the world to cryptoworld will have a great positive impact and will make the transfer of money around the world happen very easily.
Visa also aims to use cryptocurrencies through its card, the news was announced on Reuters two days ago, where users will be able to transfer their crypto assets in their balance on the Crypto.com site via Visa Crypto.com card.
The entry of the two largest money transfer companies in the world to cryptoworld will have a great positive impact and will make the transfer of money around the world happen very easily.
I think it would be a better idea if it's not only convertible into fiat but also withdrawal from PayPal to another wallet. It's like giving a feature that's lack of the better ones.
They should make it also available that their users can withdraw bitcoin to another bitcoin wallet and so on.
They should make it also available that their users can withdraw bitcoin to another bitcoin wallet and so on.
This option is first available only for US customers and one part I don't like at all and that is the fact that settling of transactions will still be in fiat currencies, and that means that Paypal is still a black hole for Bitcoin and crypto.
I can't withdraw Bitcoin I have on my Paypal account to my own wallet and it will be converted to fiat currencies probably at higher Paypal rates.
While this may help with Bitcoin adoption, I think that it may be one of the the reasons why many people will not learn anything about real importance of Bitcoin and non-custodial wallets.
I can't withdraw Bitcoin I have on my Paypal account to my own wallet and it will be converted to fiat currencies probably at higher Paypal rates.
While this may help with Bitcoin adoption, I think that it may be one of the the reasons why many people will not learn anything about real importance of Bitcoin and non-custodial wallets.
Step by step paypal just let people entering the new era of cryptocurrency. Paypal just build a condition where there's no people in the world asking for 'what is bitcoin?" anytime soon.
Now don't let your hand out of buy button, price reaction is real.
We have been talking about this for years, we knew that PayPal will eventually adopt bitcoin not because they had some change of heart, they will do it because if they didn't and they started to compete against bitcoin they will lose, so I can understand why they made this move, it is basically a self-preservation kind of strategy to try to avoid becoming irrelevant because of bitcoin.Now don't let your hand out of buy button, price reaction is real.
However while I can understand the enthusiasm that people have over this news the fact that you cannot still withdraw any bitcoin or any other cryptocurrency that you can buy in PayPal is a huge drawback, huge enough that I still refuse to use anything that has to do with PayPal and cryptocurrencies.
Paypal is now 100% crypto supporter.
Not really. They allow for buying bitcoin, but you can't withdraw it from your account. They're typical corporate, centralized, proprietary crap. 
Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said.
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
As for me, it was predictable and more and more companies will allow cryptocurrencies due to the possibility of earning. Simple matter ... I would do the same to make Bitcoin a natural means of payment. Because, unfortunately, the official one will never be ...
Yes PayPal crypto fiat gateway is the pathway to full crypto adoption bitpay have a similar feature on their platform but what made PayPal own unique is due to it market reputations and number of users, at first PayPal made a crypto gateway attempt but was misquoted by those who does not have indept knowledge of how the technology works. I guess this is the reason for this market surge back to $59k and above.
This sounds like what most corporations are doing now.Creating their own gateway for processing payments interally.
I believe this is what Tesla is doing with their own bitcoins they receive for payments of their vehicles.
So this is what paypal was doing all this time with not allowing the purchased bitcoin on their platform to be withdrawn off their site before.
They wanted it to circulate only within their own infrastructure.
Clever company as now they are riding on the coat tail's of the crypto buzz like most of all of wall street corporations are now with it looming on the all time high being breached within the next few weeks.
Cryptocurrency is increasingly known to many people this will have a positive impact on crypto in the future, many big investment companies are also in the crypto world but the paypal impact of crypto adoption is really big
I hope in the near future to use crypto as a payment will be as easy as fiat.
the paying with bitcoin part has always been very easy, for example the merchant shows you a QR which you scan by your phone and confirm the payment. that's all you have to do and it doesn't get any easier than that.
the only problem has always been that not enough places accept bitcoin as payment and this news about paypal is not going to change that because they are still not accepting bitcoin but you can buy bitcoin in paypal then go to a place where it accepts paypal then sell your bitcoin to paypal for dollar then use the dollar to make the purchase (while paying a lot of fees to paypal).
there is nothing easy about this though.
But paypal isn't available in my country. Though bitcoin is not marked as legal currency in my country but it is available and other altcoin are also available. Then how we will take the benefits of PayPal's this feature?
If I am not wrong, you are from Bangladesh and I am also from that country. But there are many problems in Bangladesh as it is a developing country. Corruption is the main problem od such country. For the corrupted people, good work gets hampered all the time. PayPal is not supporting here and that's why many freelancer can't participate in all platforms through using it. We are deprived from many things and using PayPal is one of them. Step by step paypal just let people entering the new era of cryptocurrency. Paypal just build a condition where there's no people in the world asking for 'what is bitcoin?" anytime soon.
Now don't let your hand out of buy button, price reaction is real.
Now don't let your hand out of buy button, price reaction is real.
And I came across with this token on PayPal
https://coinmarketcap.com/currencies/paypal-tokenized-stock-ftx/
Is already of high value, the bitcoin connection with PayPal is going to get us woken up with unimaginable spike soon.
Is really a bull for btc hodlers.
Another bitpay like service is in the making it seems!
Not really, BitPay allows you to send them Bitcoin from your own wallet, while PayPal only allows you to spend Bitcoin from PayPal wallet, which you can only obtain by buying it on their platform, as you can't even deposit your own Bitcoin.
Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said.
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
But paypal isn't available in my country. Though bitcoin is not marked as legal currency in my country but it is available and other altcoin are also available. Then how we will take the benefits of PayPal's this feature? The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
It's good that they can covert their crypto to fiat now. Its not what crypto users really hope to happen but its still good for they could trade at least in their platform directly.
I don't think they will really allow users to withdraw BTC or LTC. Basically, this is sort of cheating the blockchain. They can add as many BTC they may like in PayPal but can't withdraw them.
Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said.
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
They have just updated their previous crypto policies and now letting users convert their Bitcoin,BCH,Litecoin holdings in paypal wallet in exchange for fiat at the time of shopping with merchants just like Debit or credit cards.This is indeed good decision made by them which is surely going to boost btc adoption because paypal have one of the largest user base globally but I think this service is only available to US citizens at current which is not right.They are just following their competitors like Visa and MasterCard.They will hold the supply of Bitcoin which people will convert into fiat as they need to store btc as their assest reserve as they want profits in the long run. The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
Paypal adoption is not actually a great thing happened to the crypto community because they try to create the centralized payment system even with the bitcoin and the only positive thing is more people will hear the name bitcoin due to paypal adoption. But people who really wanted to spend their cryptos for purchases will be happy about the news but who is going to spend it when everyone interested on holding?
The news recently are very encouraging. BNY Mellon, VISA, Paypal, etc. There must be an upcoming surge in the price of Bitcoin related to all these very bullish news. Well, it has already started right now. The price is already reacting, surging past $58,000 very quickly. $60,000 within the day is very possible.
At least Paypal's treatment of Bitcoin has improved because of this. Bitcoin (BTC), Etherum (ETH), and Litecoin (LTC) are now real currencies with this fresh Paypal decision.
Certainly those sounds good to drive value for this decision. In it, they seem to decide to add Bitcoin Cash (BCH) to their payment method. This is also something they cherished after discussing since 2020. I will continue to wait for Mastercard to announce its decision for the revolutionary new transformation we have always been waiting for.At least Paypal's treatment of Bitcoin has improved because of this. Bitcoin (BTC), Etherum (ETH), and Litecoin (LTC) are now real currencies with this fresh Paypal decision.
https://cointelegraph.com/news/paypal-to-start-letting-us-customers-pay-in-bitcoin-at-global-merchants
The news recently are very encouraging. BNY Mellon, VISA, Paypal, etc. There must be an upcoming surge in the price of Bitcoin related to all these very bullish news. Well, it has already started right now. The price is already reacting, surging past $58,000 very quickly. $60,000 within the day is very possible.
and the fact has been proven since yesterday when VISA made its first adoption and made the first transaction, which gave a surge in bitcoin prices. so this is likely to be a large influx triggered by large adoption. however, we don't always have to see what VISA will do in the future. besides that, we must immediately prepare all bitcoin holdings with great care. considering that in the future bitcoin will be increasingly very complicated to predict. keep your hands on your bitcoins and look forward to $ 100K in sight.
it seems like they just added the missing part of the duo to their platform. they had the "buy bitcoin" part and now they have added the "sell bitcoin" part.
i am waiting for the day they add the most important part that a service such as this should have already had from start which is to let users withdraw the bitcoins they buy on Paypal and transfer it to their cold storage.
i am waiting for the day they add the most important part that a service such as this should have already had from start which is to let users withdraw the bitcoins they buy on Paypal and transfer it to their cold storage.
Were feeling the news now, starting to pump its engine and go $65,000!
Paypal is now 100% crypto supporter.
Paypal is now 100% crypto supporter.
Also, paypal is legally accepted in countries where cryptocurrecy was banned as a medium of transactions, how it will works?
That's a bit of a concern. They will probably try to prohibit this service to countries that banned Bitcoin, like a separate app for a specific country. It's not like they can anything about it except to comply with the legalities. Nonetheless, it's a great news since they are actually making more ways for cryptocurrency to get recognize across different merchants.
So is it like a bitcoin payment gateway? Will the customers covers the network fees, plus paypal fees?
Or it’s only available for paypal users who already converted their fiat to bitcoin on their paypal app before?
Also, paypal is legally accepted in countries where cryptocurrecy was banned as a medium of transactions, how it will works?
Edited:
“Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies...”
Or it’s only available for paypal users who already converted their fiat to bitcoin on their paypal app before?
Also, paypal is legally accepted in countries where cryptocurrecy was banned as a medium of transactions, how it will works?
Edited:
“Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies...”
PayPal is really doing a great thing by helping the Bitcoin adoption. They were not very cool about Bitcoin before like many other companies etc. . But now, they are doing everything they can to be prepared for the future. And there is really a huge interest in Bitcoin among their users too.
This is a good thing man because Paypal connected to various MasterCard that is linked to the many countries in the world. We can now have access to this kind of service and this one is a trustworthy service that we can use. This is not just some alternative to some of the exchanges because they created this service for that purpose only. Paypal is doing their own service like what they have purpose last year and now we can finally try it.
Step by step paypal just let people entering the new era of cryptocurrency. Paypal just build a condition where there's no people in the world asking for 'what is bitcoin?" anytime soon.
Now don't let your hand out of buy button, price reaction is real.
Now don't let your hand out of buy button, price reaction is real.
Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said.
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
Another bitpay like service is in the making it seems! But considering the brand reputation and the merchant base, it can be a good move to push the crypto to another level higher in terma of mass adoption. So I will welcome thia move by Paypal especially after the mess they had created after enabling users to purchase cryptos from them.
Hopefully, they wouldn't come up with useless rules like they did last time and hopefully they would keep their fees low. Otherwise all will go into zapordy!
In fairness to Paypal, they didn't really made much of a mess the first time they introduced crypto on their system. It wasn't appreciated from the strong crypto supporters' end. It was even heavily criticized. But I don't think Paypal was thinking of the advanced crypto supporters at that time. They were thinking of the newbies in crypto. They were probably designing everything with the users who are unfamiliar with crypto in mind. In fact, they are also creating guides and information materials for their users the first time they introduced crypto. Right now is the second step.
Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said.
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
Another bitpay like service is in the making it seems! But considering the brand reputation and the merchant base, it can be a good move to push the crypto to another level higher in terma of mass adoption. So I will welcome thia move by Paypal especially after the mess they had created after enabling users to purchase cryptos from them.
Hopefully, they wouldn't come up with useless rules like they did last time and hopefully they would keep their fees low. Otherwise all will go into zapordy!
The news recently are very encouraging. BNY Mellon, VISA, Paypal, etc. There must be an upcoming surge in the price of Bitcoin related to all these very bullish news. Well, it has already started right now. The price is already reacting, surging past $58,000 very quickly. $60,000 within the day is very possible.
At least Paypal's treatment of Bitcoin has improved because of this. Bitcoin (BTC), Etherum (ETH), and Litecoin (LTC) are now real currencies with this fresh Paypal decision.
At least Paypal's treatment of Bitcoin has improved because of this. Bitcoin (BTC), Etherum (ETH), and Litecoin (LTC) are now real currencies with this fresh Paypal decision.
Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said.
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” President and CEO Dan Schulman told Reuters ahead of a formal announcement.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
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