Topic: PayPal customers will be able to use BTC, ETH and other cryptos to pay merchants (Read 1097 times)

It's like the same way as our local app here in the Philippines wherein we used Coins PH.  Though I am not sure if it already allowed crypto holdings but I just kinda remembered that I was using digital wallet when I saw that they also allow the purchase of Bitcoin.
Would Paypal consider extension of this though? Like allowing it for payment to certain reputated merchants?

Same. This would boost crypto's demand in the mainstream world like never before. Already, we're seeing the positive effects of PayPal's adoption of crypto. Bitcoin has soared to $18k in a matter of months after COVID-19 took the world by storm in March 2020. With how fast Bitcoin and other cryptocurrencies are gaining traction in the mainstream world, it seems to me that the best is yet to come. Now that we have a renowned company providing crypto services to the world, it shouldn't be long enough before other companies follow. Imagine being able to use crypto directly at a grocery store through a renowned payment processor like VISA or Mastercard. This will further increase mainstream adoption of crypto/Blockchain tech as we speak.

Despite PayPal's recent announcement, crypto still has a long way to go before it becomes fully adopted by people in the mainstream world. What's "haunting" crypto is price volatility and limited transaction capacity. If crypto was scalable and stable at the same time, things would've been different. As long as it has its limitations, it'll never be able to replace Fiat in its entirety. For now, crypto will serve as an alternative to the current monetary system. The more companies, merchants, and businesses adopt crypto, the better it'll be for crypto's prominence in the mainstream world. With how far crypto has reached since its inception, it seems to me that it won't be going anywhere anytime soon. Just my thoughts

Yes, this will definitely add new money, new volumes and increase the overall market cap of the crypto market.
New mass money will be able to enter crypto in a legal and compliant way which will do wonders for the crypto market.
So after paypal activate this service for real i expect market to react positively and bullishly.

paypal already run its own financial service from the beginning, but not with facebook libra,
so, there is something different, paypal team already have an experience with financial institutions, thats why i believe the story will be different
regards

Exactly. It'll be quite challenging for PayPal to retain its crypto business due to fierce regulations from mainstream governments. After all, governments want a piece of the pie. Either PayPal complies with heavy-handed regulations by the government, or stops its operations altogether. My guess is that PayPal will comply with regulations by ramping up its ID verification requirements. For instance, PayPal can set limits to unverified customers for the amount of crypto they can buy or sell. The payment processor could ask you for more information in order to be able to use their services. This goes against what crypto was created for in the first place. But at least, it brings the average person into the world of crypto. Mainstream adoption is what ultimately matters in order to make crypto land a better place.

Nonetheless, PayPal adopting crypto is very exciting news. This was to be expected due to the ever-increasing popularity of crypto/Blockchain tech in the mainstream world. Now that PayPal has joined the game, it should only be a matter of time before other companies do the same. The more businesses and companies adopt crypto, the better it'll be for its long-term growth. Both BTC and ETH will benefit the most as they're the largest cryptocurrencies in the world. Hopefully, they'll be able to reach new ATHs in price during the course of 2021. Just my thoughts

From what I have heard about this news, it looks good for the cryptocurrency users. The user may be making the payment in BTC or ETH, but PayPal will be making the payment on their behalf in fiat currency. That means that they don't need to pay $10 or $15 as fee for a single transaction. Anyway, details are not revealed yet and we may need to wait for a few more months until PayPal makes cryptocurrency available for all of their users.

One of the things that helps bitcoin become bullish is that paypal adopts bitcoin and other cryptocurrencies as you mentioned in your thread.
Although it is from before paypal adopted bitcoin, crypto, no one is already bullish.
This situation makes public enthusiasm and confidence in crypto more positive. Because we know that paypal is a very reliable world-class payment gateway.
Paypal has indirectly been educating the world community about the benefits of cryptocurrencies.
I think cryptocurrencies will become increasingly popular in the coming years. Although bitcoin is now popular too.

I stopped using paypal for a long time and as i know paypal transaction fee is so high, so try to imagine with bitcoin and ethereum fee+ paypal fee because they add the option add Bitcoin, Ethereum and other also for proftis or course will make the fee more expensive

Or maybe Paypal will bankrupt because many people will immigrate to crypto, which is so simple to use if compare with PayPal

I like PayPal, but I travel often, and the service is not allowed in some countries. Using VPN here is not the way out — the IP looks "suspicious". However, I am very glad that PayPal is adopting crypto; it will be very convenient in future, I am sure.

Exact news from paypal is only used from the beginning and continued by some of the major overlays around the world. That will create a certain direction, CBDC is one of the issues that any country needs to have a topic. I think if major countries adopt blockchain or participate in cryptocurrency, there will be many very interesting progress. I also think that in 2020 there must be large consortium confirming participation in this school, and will have the effect for more corporations to join.

Turns out most of people still care about paypal LOL. I must admit that the year of 2020 right now is out of my expectation despite having all the corona stuff we instead have massive boost in crypto adoption. I'm just waiting some government starts to accept crypto more or atleast legalize it.

Crypto and stocks in term of volatility aren't far off so it better get legalized.

This is excellent news!

And this is just the beginning, more surprises to come soon!

New prices are coming for the whole crypto world ...

Government regulations can be a tough obstacle to overcome. Remember what happened to the Libra project of Facebook. When they made the initial announcement, there was a lot of hype in the cryptocurrency market and even the exchange rates of Bitcoin went up by quite a bit. But then, they were forced to abandon the project after the lawmakers made it clear that it won't be allowed to proceed. I just hope that the same won't repeat with PayPal.

Still a good thing though I'm pretty sure that they gonna just go with the plan in the future, so many untouched "profit" potential by implementing crypto which is now seen as the norm or instrument of investment.
Not to mention that there's a rumour revolving around stating that paypal already have a plan for their own digital currency.
At the very least paypal is not gonna banned paypal account that was made for buying or selling crypto out of the blue like they used before.

I'm stoked by this news not because of the bullish influence it had on BTC and cryptocurrency generally but because it shows that blockchain is moving gradually towards mass adoption. As we all know, PayPal is a popular global payment provider trusted by individuals and businesses, the fact that users can buy and store BTC and other crypto on it means that users now have an additional option of payment.

I hope they allow users transfer crypto to others soon as this will really be another fuel to power adoption.

PayPal adopting crypto is the best thing it has happened to the entire Blockchain industry. This should give prominent cryptocurrencies like Bitcoin and Ethereum a greater level of exposure to people in the mainstream world. If PayPal continues providing crypto services during and after 2021, it's expected other big companies will join the game. Imagine VISA or Mastercard providing people the ability to use Bitcoin at any business or merchant's POS (Point of Sale) system. It will be totally revolutionary.

While PayPal has finally announced its adoption of crypto, it's yet to be determined if it can keep up with the competition. Coinbase, Bittrex, Kraken, and Binance.US are already-established crypto companies with a lot of prominence in the US. Competition will become fierce for PayPal as the aforementioned companies already have a large number of customers supporting it. If PayPal wants to stay ahead of the game, it's going to need to offer lower fees while expanding the number of cryptocurrencies people can buy or sell on the platform. At least, PayPal has joined the crypto train. All that is left is for other companies to do the same. My guess is that with this announcement, prices for both BTC and ETH will rise towards new ATHs. 2021 may be crypto's biggest year yet as people adopt crypto massively like never before. As long as COVID-19 continues to harm the mainstream economy, the crypto/Blockchain industry will experience exponential grow in demand and adoption. Time will tell us what lies ahead with the future of crypto as governments devise new regulations and laws that could either stifle or stimulate the growth of the industry in general. Just my thoughts

thats right and the best things from this news is mass adoption of cryptocurrency is on its way
maybe next years a lot of giant company will be competing to enter this crypto space

I think it's still in the planning stage. The truth can be ascertained by 2021 according to the information presented on the site. If this goes well, I think international purchases will be easy.

of course, one of the biggest service companies adopted bitcoin as their payment.
even when this news first came out bitcoin immediately rose quite high.
I think in the future there will be more good news if there is no bad news regarding crypto.

This is very good news indeed. Since PayPal is the world's largest payment processor, its adoption of crypto will be further increase awareness of the Blockchain industry. I'd expect demand for Bitcoin and other prominent cryptocurrencies on the market to increase at a fast pace after this positive announcement by PayPal. If mainstream companies continue to adopt crypto and Blockchain technology, then the crypto market will be valued in $1 Trillion USD in the future. Imagine VISA and Mastercard making use of Blockchain technology for their own benefit. Mainstream adoption for cryptocurrencies will increase at an accelerated rate.

With PayPal joining the crypto train, it shouldn't be long enough before other payment processors and banks start doing the same. Governments have become increasingly aware of crypto's exponential growth in the mainstream world, leading them to devise new regulations for the industry. With a proper regulatory framework, the crypto/Blockchain space will be legitimized. All that's left is for institutional investors and serious traders to join the game for the crypto market to grow towards new heights. If the pace continues, Bitcoin's market cap might be even greater than Gold's market cap. Time will tell us, if PayPal will be able to maintain its newly-established crypto business or not. With Coinbase being the leader in crypto trades throughout the US, the competition becomes fierce for PayPal. In these uncertain times, anything can happen. Just my thoughts