Topic: PayPal Reaches 85% of Binance.US Volume - page 2. (Read 968 times)

If PayPal clarified that they will allow withdrawal by mid 2021 then it is a good news as i did not hear about this clarity when the news was published initially and i am surprised that the volume has increased this much for just trading and not having the ability to hold the coins and by second quarter next year we are expecting the price to reach new levels we have not seen, only time will tell how this will develop and till then we can wait and watch.

It seems that since Binance.us closed its office,
their members moved from Binance to Paypal, moreover paypal is also the best platform there,
this shows that paypal might be a competitor to Binance,
in the next 3-6 months there will definitely be more users using paypal.

Paypal surely made it easier for large portion of US citizens to buy bitcoins. Many people are not easy with the concept of crypto and crypto exchanges but they use and trust Paypal. Though their were direct ways to deposit your bank money on an exchange to buy bitcoin, it was still a two step job and a small learning curve. Paypal makes it easier.

Now I understand why bitcoin moved up strongly today. It made me shocked because it touch the 18K dollar mark. This is a great catalyst for bitcoin. Paypal's launched of bitcoin to their platform really affect bitcoin price. And now, it seems like bitcoin price is performing well and anytime, a new all time high may appear in bitcoin chart. I think PayPal will start the global use of bitcoin since this e-wallet is very popular.

i see this btc news has made PayPal even more famous than before, that is quite a huge volume they have there, already paypal has a huge user base from all over the world now with the introduction of btc to their service i can imagine how their patronage will be high,
especially now that btc is on a bull run of its own, fomo is getting to some people, and PayPal seem to be the ideal place for people in the usa to buy btc and enjoy this btc spike in price.

They have already clarified about this. Right now the functionality is limited and you can't withdraw your BTC, or make payments. By mid-2021 they will make full functionality available for the American users and hopefully you will be able to do payments and withdraw BTC to other wallets. So right now, it can be used only for purchasing and storing your coins.

So from what I have heard the PayPal doesn’t let people move their bitcoins to another wallet, and that it’s not an actual Bitcoin we will be buying from it, it’s just going to be like some token or something and they will be lying to the people that it’s real Bitcoin while they won’t be able to send their bitcoins to another person or a different wallet that they own.

The only thing people will be doing is just HODL it on the PayPal platform and nothing more, you can’t do anything with it. With that I would say that it all doesn’t make any sense, because it would have been best if they allowed people to do more with it, that would have also helped in the adoption.

Hmm.. so a lot of people are going to invest small amounts (such as $25 or $50) through their PayPal accounts. It is going to create a chain-reaction. The demand will increase and the prices will go up. Those who invested in Bitcoin, and profited out of this investment will start bragging about their profits, which is going to result in even more investment. And the exchange rates will again go up. But at one point, the chain will snap and the prices will crash. I want to know at which level the snapping is going to occur.

Do you realize how stupid this is?
So, ignoring the fact about bitcoin transactions and investment being illegal in the US, where the f* word did you pull that crap out from? , how would in those conditions PayPal be allowed to buy bitcoins on behalf of its customers, and how it was granted a license?
And if those were illegal, how did Binance.us even operate before and why would people use Paypal and not Binance?
I know you have to make four lines to make your bounty quota but does it have to be pure bs with no real information?


And it can go even higher quite easily.
There are a lot of people in the US with money sitting around in their Paypal account, the average us users has around $500 in there, just a few thousands deciding to change it into BTC would cause another spike, Paypal holds moe funds than a lot of banks in the US, just wait until people start moving their money to BTC, 25mil will look like peanuts.

Moonshot won't happen. That kind of massive trading will destroy the Internet infrastructure if 5G isn't deployed first.

This only means that PayPal has build it's reputation already and many of it's users are trusting PayPal upon their acceptance of bitcoin.

If this will to continue, I am sure that there is no stopage for bitcoin price to go to moon but I am hoping that it will also trigger the bull season so we can experience again the bull season in 2021 if it will happen to this year. It is pretty clear that the spike of Paxos volume is because of the effect of PayPal partnership, less than 5$ million volume to nearly 25$ million volume what a spike.

You mean like Christmas presents? It is too early to think about it as they just started trading Bitcoin.
Would be great to see a day when PayPal allows bought bitcoins to transfer outside their system (to other wallets). User does pass KYC for creating an account...So this turns them as a regular exchange, then why limit users just to sell/buy/transfer in just PayPal echo system. But...They are still young with crypto.

Okay, so what happens in a few months? Maybe PayPal is preparing something bizarre for us?

I think the information you provide is very good because the more people who know bitcoin, the more people will buy it, paypal is a very important bridge to make it easier to buy, seeing from the trading volume I am very sure the price of bitcoin can penetrate to the price of $20k at the end of this year.

Do you know why PayPal could reaches more than 85% of Binance US volume transaction? I think the only one reason because in United State bitcoin and altcoin is illegal currency as payment transaction or investment assets, there are many United State people wanna invest money in bitcoin or altcoin but government not allow for this, then have PayPal accepted for United State to buy and sell bitcoin trough PayPal way and I think many United State people use PayPal right now and buy bitcoin with using PayPal as payment method, good looking when PayPal become the way to buy and sell bitcoin without have claim illegal by government.

As long as Bitcoin is in front of paypal, everything is fine  


Source: https://companiesmarketcap.com/financial-services/largest-financial-service-companies-by-market-cap/

I wouldn't be surprised if Paypal's volume beat Binance US's volume. Because Paypal is a large platform that has been established
since 1998. It is certain to have users above Binance US, that way the Paypal volume can be statistically above Binance US volume.
Even though now Paypal only gives access to buy Bitcoin for American users only, if Paypal opens Bitcoin purchases for global users
it is certain that the volume will be much higher. And there is a possibility that Paypal will become a centralized exchange in the future
if the demand for Bitcoin on Paypal continues to increase in volume.

Paypal has been doing quite good in the past few months after it announces that the platform can accept to buy bitcoin directly from them. If the post is true about the current surge of buying bitcoin or crypto using paypal then high chance that this is the reason for the bitcoin bullish. We all know that binance is one of the exchanges that had been doing huge market for cryptocurrency. However, there are other things to be cosider for bitcoin bullish and not only this one. Hopefully we can get a record breaking bull run this coming few days.

Yes and no.
Paypal will become the number one (maybe!?) to buy cryptos but it will not become the number one in terms of trading, at least not with a 1.5% minimal fee for orders over 1000+ and 2% for 200$. This is not suited for trading at all. So my guess is that we're going to have what we now know as exchanges focus solely on trading and far less on people buying/selling once and withdrawing their coins.


Sorry but this made me laugh, a bit rude from me since I'm sure you were honest about your good intentions.
But educate? The ones that would have been A+ college material have already educated themselves, the ones that will come after this will not give a single damn about those, they will care about how much % they can gain, you'll be doing them a greater favor by educating about Ponzi schemes, cloud mining scams, fake exchanges offering above-market prices and many many other first.
Right now we're still quite safe as this is available only in the US, but wait till it hits the world, there will be an avalanche of scams.


But if they don't, and I'm quite sure they are doing this with Paxos, then when users might want to sell, they will be the ones needing to buy back those CFD at 3 times the prices they have sold them. Worth the risks? I doubt it. They charge users enough in fees for it, running not even a fractional reserve but a clear Ponzi scheme with a public listed company is something that will win all Darwin's Awards this century.

Most of the ordinary users doesn't care about the restrictiveness of PayPal unless they are directly affected. It is the ease of use which matters to them. And this is exactly the reason why PayPal is witnessing such large volumes right now. Most of the critics still refuse to acknowledge the fact that it is quite difficult to purchase and hold Bitcoins on your own. The current bunch of cryptocurrency exchanges are not that user friendly. I know about this because when I started with cryptocurrency 4 years back, it was really difficult to purchase Bitcoins through exchanges, at least in my country (India).

But I don't think that PayPal will come up with their own cryptocurrency or exchange token. In a way, Bitcoins that are being stored in the PayPal platform are exchange tokens, as the users are not having access to the private keys.