Paypal is doing it - page 5. | Bitcointalksearch.org

DougM

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I was wondering what caused the jump especially with the wall of sell orders around $12,000 to prevent a but this news appeared to have punched right through that. Currently over 13K Cool

Anyway I am not a big fan of large jumps because the quicker the climb the quicker the fall in the past...slow and steady (upward) is my preference, but I don't count Wink

Bitcoin blasts through $13K following PayPal’s entrance into crypto
https://cointelegraph.com/news/bitcoin-blasts-through-13k-following-paypal-s-entrance-into-crypto

Quote

...
BTC is up 10% over the past 24 hours, while ETH is up 8%, BCH is up 9%, and LTC is up more than 15% today.

While Ethereum has rallied alongside Bitcoin, ETH has failed to maintain its strength relative to Bitcoin since rallying into the low-mid $400s amid the decentralized finance boom in August. Ether is currently testing resistance at $400.

In response to the news from PayPal, Alex Mashinsky, CEO of crypto lending platform Celsius, said:

“This is definitely a bullish sign for Bitcoin and other cryptocurrencies. Crypto is all about trust, and PayPal has a very high level of trust with its users [...] If the UI/UX of the service is done right, we will see millions of new users join each month.”

Inkdatar

hero member

Activity: 1582

Merit: 523

This is great adoption that PayPal has entered the cryptocurrency market. I just read this good news in social media announcing to their users that they could able to buy and sell bitcoin and other virtual currencies using PayPal account. Since PayPal has million of users globally, crypto will have a good movement it's price in the market.

Rengga Jati

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Activity: 2156

Merit: 670

Hire Bitcointalk Camp. Manager @ r7promotions.com

Finally, after guessing the rumor, it is officially confirmed.
Well, after letting us buy crypto with PayPal on certain websites or platforms, now, we can buy it directly using it more easily in wider platforms and also merchants. It is very good news when many more payment methods are available to trade cryptocurrencies. although it is still limited in certain coins such as BTC, ETH, BCH, and LTC, it can be said as a good beginning

Adhar

jr. member

Activity: 966

Merit: 1

wow, such a great news for crypto lovers.i think crypto get more popularity from this news & as a result more peoples comes to crypto for investing their money . this is very good side & i am thinking about price of bitcoin will pump day by day. good luck.

Oilacris

hero member

Activity: 2996

Merit: 609

Quote from: Stedsm on October 21, 2020, 04:39:23 PM

Quote from: jubalix on October 21, 2020, 04:27:04 PM

--snip--

Yeah right, they're doing it like that. Like they're allowing you to transact the "contracts" of BTC but not the BTC itself, that too into their platform. But seriously, we've been waiting for this since long time and when PayPal did this, it doesn't matter to me a lot whether they allow us to withdraw BTC or not atm because they transact in fiat since their beginning and so, I believe they won't stop doing that for some more time. Though, this step by PayPal has finally done the job by kicking up BTC above $12900.

The only thing that matters now is, at what price will they allow us to buy BTC? I mean will it be same as the exchanges, or will PayPal once again be criticized to "sell" BTC at their expensive rates just like they charge us fees? Wink

No one can tell until everything would be put up into the table.Lots of questions had been asked but lets see on how this collaboration will work between crypto and paypal itself.

I cant really just believe that this is the main reason on why bitcoin did soar up that high at this moment and do even able to hit up 13k price
in preev.com.

Majority hadnt anticipated for this thing to happen and its good if we do sell out now for those who do trade earlier.This is the sweetest spot to make out some moves.

verita1

member

Activity: 1358

Merit: 81

Today has been a good day for Bitcoin, the market is creating a great demand also it is a trend in the searches for coins in Coingecko. On the news of Paypal accepting Bitcoin, I think it occurred that the price of Bitcoin will increase more than it has been doing for a few days.
This new conquest of Bitcoin makes me think that when using Paypal the payment of commissions could be high and that the purchase and sale price of Bitcoin would be very different. The positive in all this that Bitcoin will be available to Paypal users in 2021.

BuNga_cute

full member

Activity: 1736

Merit: 116

I was quite surprised when I read the article in the opening post, because to my knowledge PayPal is anti-bitcoin.
And now PayPal is facilitating its users to buy or sell Bitcoin on their platform. This is a good move to start for another
payment gate, because as a large number of businesses that accept payments via PayPal. So with PayPal starting to
accept cryptocurrency, it will make mass adoption of Bitcoin even faster.

CarnagexD

sr. member

Activity: 1498

Merit: 374

Leading Crypto Sports Betting & Casino Platform

Quote from: Chris Barth on October 21, 2020, 04:06:55 PM

Splendid! This is the greatest news I've heard today. Considering that bitcoin is a competitor to Paypal, I never thought they'll do this. If actually, this happens, it's gonna be massive because according to what I saw online, "In the second quarter of 2020, there were 346 million active PayPal accounts" 346 million? Damn!

You also should consider the fact that it's founder, Elon Musk shows great interest and has publicly mentioned the fact that he is supportive of cryptocurrencies, particularly bitcoin. This will cash in more money to him considering how big t.fees are right now. Or he can do a game-breaking move that would entice all people to buy cryptos on Paypal like lowering the transaction fees at a certain purchase point.

hatshepsut93

legendary

Activity: 3038

Merit: 2162

Remember how people were asking "will there be Bitcoin banks"? This is pretty close to it, you will own a digital "Bitcoin banknote" in PayPal's system, with no way to redeem it for actual Bitcoin. And this sounds bad to any experienced bitcoiner, but maybe it will have some positive effects, like bringing more people to crypto who were otherwise scared to try it before. To me the most disappointing part is that they choose to add bcash to the list of their coins, it will only cause confusion since newcomers will see two "bitcoins".

Stedsm

legendary

Activity: 3052

Merit: 1273

Quote from: jubalix on October 21, 2020, 04:27:04 PM

--snip--

Yeah right, they're doing it like that. Like they're allowing you to transact the "contracts" of BTC but not the BTC itself, that too into their platform. But seriously, we've been waiting for this since long time and when PayPal did this, it doesn't matter to me a lot whether they allow us to withdraw BTC or not atm because they transact in fiat since their beginning and so, I believe they won't stop doing that for some more time. Though, this step by PayPal has finally done the job by kicking up BTC above $12900.

The only thing that matters now is, at what price will they allow us to buy BTC? I mean will it be same as the exchanges, or will PayPal once again be criticized to "sell" BTC at their expensive rates just like they charge us fees? Wink

jubalix

legendary

Activity: 2660

Merit: 1023

So as I understand it, Paypal will not allow you to withdraw or send BTC to your Paypal account.

You can only buy or sell BTC at their rate.

I can understand why they are doing this, it avoids a lot of complications and customer support issues as well as compliance, eg where did that 10BTC come from that is now cashed out?

It a good first step for a mainstream payment gateway.

In the future, they will allow BTC withdrawals for sophisticated users or some such under other terms.

The downside is your in a Paypal Fishbowl and at their mercy, also there is no way to tell if PayPal BTC is fully backed<<<< Orgs have a long reputation of fractional reserve.

AmoreJaz

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Leading Crypto Sports Betting & Casino Platform

Quote from: gleisson05 on October 21, 2020, 03:18:40 PM

Relax, it's just a big PayPal nothing burger.

"Currently, you can only hold the cryptocurrencies that you buy on PayPal in your account. Additionally, the Cryptocurrency in your account cannot be transferred to other accounts on or off PayPal."

Basically, crypto just entries in a central PayPal database, that's it. Although, I can't deny it's a big step towards mass adoption and everything.

i believe there will be more developments on the way. and regarding the statement - "Additionally, the Cryptocurrency in your account cannot be transferred to other accounts on or off PayPal" , i think what they mean by this is that the receiving end will not receive the crypto you are sending but the corresponding amount in fiat (in terms of their fiat currency). so you are still talking about the price of the item or services in US$ or whatever it is in fiat currency. it will be their internal exchange to convert your crypto to equivalent fiat. so the crypto you are paying will be received by PayPal and they are the ones sending your payment in terms of US$ or any other fiat currency. the other end will not see your crypto.

Quote from: Chris Barth on October 21, 2020, 04:06:55 PM

Splendid! This is the greatest news I've heard today. Considering that bitcoin is a competitor to Paypal, I never thought they'll do this. If actually, this happens, it's gonna be massive because according to what I saw online, "In the second quarter of 2020, there were 346 million active PayPal accounts" 346 million? Damn!

the good thing out of this - they will push thru mainstream adoption. that number will have significant impact in crypto market.

Chris Barth

member

Activity: 569

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Credibility: 999

Splendid! This is the greatest news I've heard today. Considering that bitcoin is a competitor to Paypal, I never thought they'll do this. If actually, this happens, it's gonna be massive because according to what I saw online, "In the second quarter of 2020, there were 346 million active PayPal accounts" 346 million? Damn!

seoincorporation

legendary

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Quote from: Twentyonepaylots on October 21, 2020, 08:56:21 AM

Paypal officially announced that they are going to let their users to buy, sell and shop cryptocurrencies on their platform starting in 2021adding services such as this will become a domino effect that might trigger banks to do the same. I can feel it already, next year will be another blast for crypto!

source : https://cointelegraph.com/news/paypal-to-offer-crypto-payments-starting-in-2021

Confirmed!

Wow, these are some great news, i think most of the crypto users have been waiting for this moment in the past years. And for a moment we think this will never happen, but is awesome to read they are doing it. I would like to understand how well they manage the charge back feature they have, we know bitcoin is only one way, so let's see whit what solution they come to us.

gleisson05

jr. member

Activity: 66

Merit: 1

Relax, it's just a big PayPal nothing burger.

"Currently, you can only hold the cryptocurrencies that you buy on PayPal in your account. Additionally, the Cryptocurrency in your account cannot be transferred to other accounts on or off PayPal."

Basically, crypto just entries in a central PayPal database, that's it. Although, I can't deny it's a big step towards mass adoption and everything.

SaShiRaJaVu

hero member

Activity: 1694

Merit: 541

Quote from: Krislaw on October 21, 2020, 01:41:02 PM

This is a huge adoption and I believe it's the reason for the massive pump in BTC price. I just hope PayPal would be able to improvise their service with the complain and bad reviews they already have on ground.

May be this is a news that is lacking the entire year and the market jumped over 6% with this single news is fascinating as the news of Paypal integrating bitcoin helped break the resistance we were waiting to break for a very long time, i am not sure and lets see how long this rally will last and the month end is coming and lets see how the options expiry will make any changes.

ChiBitCTy

legendary

Activity: 2282

Merit: 3014

We have been hearing about PayPal using cryptocurrency/bitcoin for the longest time. It at first seemed like something that would absolutely never happen. The fact that PayPal FINALLY did actually add cyrpto shows you how big bitcoin has become. Trust me, PayPal NEVER wanted to actually add bitcoin or crypto functionality. They are such a corrupt scumbag company, this actually does make them look a bit better.

blockman

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Activity: 3066

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IIRC, a few years ago there were discussions about PayPal accepting crypto and here we go. That discussion came into reality because it's been known that Paypal is one of the competitor of bitcoin or any cryptocurrency as a payment processor. But as a large corporation, they've realized the huge market that they are taking after adopting it. They cannot beat it and that is the reason why they just have to adopt and accept it. We will more of these good news for other big and reputable payment processors soon.

uray

hero member

Activity: 1400

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Quote from: Xxmodded on October 21, 2020, 10:43:10 AM

Now have chance for United State people to join on ICO or cryptocurrency project because they have allow to use PayPal buy cryptocurrency like bitcoin and altcoin,

Paypal giving the users the freedom to invest in cryptocurrency does not mean that the people from United States will be able to invest in ICO. It is a closed chapter and the authorities will not allow any payment solutions to provide that opportunity. When it comes to the valuation i do not think it has anything to do with the current rally either.

matchi2011

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Buy $BGL before it's too late!

Quote from: Twentyonepaylots on October 21, 2020, 01:38:49 PM

Quote from: Dsdaq on October 21, 2020, 11:43:03 AM

We can ignore, we know this kind of changes will come with time because of the potential and opportunities that crypto has especially by next, huge changes are waiting.

We can't just ignore a huge news in crypto like this one, I mean few years ago a lot of us talking about the potential of cryptocurrencies to be adopted by these giant companies especially the money transfer/ online payment company, Paypal. I already anticipated this events to crypto, a real huge potential it holds but to be honest I think it was sped up by the pandemic, I maybe wrong but I feel it is due to the pandemic, what you guys think about it?

It will bring everything to a much wider adoptions, people who used Paypal that doesn't have any idea about bitcoin will start to notice this chain, it's a good sign to have more new investors around the market.

We all knew how big Paypal was and with them joining the adoption then for sure there's something much bigger than this that awaits crypto adoptions. We should all looking for more positive though be very vigilant to make sure not being trapped around.

Topic: Paypal is doing it - page 5. (Read 1368 times)