$6.12 billion in the last q4 last year! congrats.
i took a peek at the pdf file but it bore me. after all the 34 pages of pdf, we still can't identify how much BTC they have collected since the time they joined the fintech investments. since they openly admit they are actively investing it would be interesting to see how much they have. and will they soon allow their users to withdraw BTC from Paypal platform.
Topic: PayPal cryptocurrency trading volume beyond expectations - page 6. (Read 919 times)
I think this is the result because most of the people who have heard of Bitcoin and want to be part of it has no time to understand and learn about how you can get involved in crypto. So if they are PayPal users themselves, it's relatively easy to be participating in it with just a few clicks on your mobile phone or browser. It's just that it makes the access easy, and they can call themselves now crypto users.
That's probably the reason why there's an increase in volume, and of course, the price also has its parameter. Hopefully, we will see a retrace so we could accumulate more.
That's probably the reason why there's an increase in volume, and of course, the price also has its parameter. Hopefully, we will see a retrace so we could accumulate more.
It would be best if PayPal would allow people who trade on their platform to actually get the coins that they 'assume' is theirs. But unfortunately, if that happens we know that there'll be a shortage of coins, so right now what people are actually holding is the promise of PayPal that they are indeed trading bitcoins and not some privately-issued air that they aren't getting no matter what.
I don't think PayPal is unique; I just think that they are the first giant in the institutional side of things to make these things possible to the retail investor.
PayPal's declares its uniqueness and therefore inevitably leads to profit, but whether this is really so in the end we will decide
I don't think PayPal is unique; I just think that they are the first giant in the institutional side of things to make these things possible to the retail investor.
Don't get it wrong guys, but Paypal doesn't really care about Bitcoin. The only thing that matters is the profit it can bring to the company. They just noticed Bitcoin could be a good cash cow and there is a ton of money to make out of it.
I didn't read the whole PDF but there is a need to make things separate. What comes from the addition of Bitcoin and what comes from the other part. Do you think the percentage increase is only due to the addition of Bitcoin? Not at all.
Even the free cash flow decreased starting at Q2 2020, the same for the number of active accounts but not the number of payment transactions.
What does it mean? It means there is the same number of people using Paypal but they are using it more frequently. Hence the profits' increase.
But why?
Because online shopping has increased drastically in the last year with covid and as Paypal is the most popular payment method people use, it makes sense.
Amazon has also doubled its profits but they have not added Bitcoin.
For your information, there is no decentralization in Payal. People are simply buying a token backed by BTC, they don't own BTC, Paypal does
I didn't read the whole PDF but there is a need to make things separate. What comes from the addition of Bitcoin and what comes from the other part. Do you think the percentage increase is only due to the addition of Bitcoin? Not at all.
Even the free cash flow decreased starting at Q2 2020, the same for the number of active accounts but not the number of payment transactions.
What does it mean? It means there is the same number of people using Paypal but they are using it more frequently. Hence the profits' increase.
But why?
Because online shopping has increased drastically in the last year with covid and as Paypal is the most popular payment method people use, it makes sense.
Amazon has also doubled its profits but they have not added Bitcoin.
This only means to me that there's a great demand for decentralized transactions
For your information, there is no decentralization in Payal. People are simply buying a token backed by BTC, they don't own BTC, Paypal does
I meant to jump on this earnings call. I also wish they would have been more specific about how much they actually made, or how much business they actually did dealing with cryptocurrency directly. I read some of the highlights and I saw how bullish they were on bitcoin and crypto, and as much as I absolutely hate this company, I know that it is good for the mass adoptions for bitcoin and I couldn't be happier about that.
I saw Visa's CEO on CNBC yesterday and he was very high on bitcoin and crypto himself..
It's a new day boys and girls!
I saw Visa's CEO on CNBC yesterday and he was very high on bitcoin and crypto himself..
It's a new day boys and girls!
From the initial steps Paypal expanding their business to Bitcoin has provided a very positive value for the price of Bitcoin, until now Paypal has proven a very good achievement by increasing revenue for transactions therein. I think this will give positive vibes to the current and future Bitcoin price. With the absorption of Bitcoin by Paypal, it will educate more users to get to know Bitcoin and receive the benefits of this digital Gold. And it is possible that Paypal's steps will be followed by many other large companies, and educate more ordinary people to get closer to Bitcoin, so that it will eventually be absorbed as a legalized currency by all countries. Just a hope.
This only means to me that there's a great demand for a decentralized transactions and it can add profit to those companies who will start to adopt. Many companies should see this experience of Paypal and I'm sure it will continue to grow since many are trusting the platform and Paypal and they feel their security here. I'm not into Paypal since we also have our local wallet to transact, but to those who are using this for sure they are enjoying this services using their own cryptocurrency.
In the fourth quarter, payment giant PayPal attracted 16 million new customers and processed payments worth $277 billion. According to CEO Dan Shulman, the company is actively investing in the cryptocurrency division, which more than met expectations.
PayPal's total revenue for the fourth quarter increased by 23% to $6.12 billion in the fourth quarter. The financial results were positively impacted by the support for cryptocurrencies, which appeared for PayPal customers in the United States on November 12.
PayPal's declares its uniqueness and therefore inevitably leads to profit, but whether this is really so in the end we will decide
Now: Centralization reports on profit and decentralization shows a growing volume and on which side you will decide
PayPal's total revenue for the fourth quarter increased by 23% to $6.12 billion in the fourth quarter. The financial results were positively impacted by the support for cryptocurrencies, which appeared for PayPal customers in the United States on November 12.
Quote from: https://s1.q4cdn.com/633035571/files/doc_financials/2020/q4/PYPL_Q4-20_Investor_Update-(1).pdf
PayPal's declares its uniqueness and therefore inevitably leads to profit, but whether this is really so in the end we will decide
Now: Centralization reports on profit and decentralization shows a growing volume and on which side you will decide
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