PayPal to open up network to cryptocurrencies

exstasie

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Quote from: jaberwock on November 06, 2020, 03:11:28 AM

I can't believe this all started with Paypal getting involved.

It didn't. BTC was trading around $12K when the Paypal news broke. $12K to $16K is a 33% increase, but the increase from the $3,800s in March to $12K (~210%) was much bigger.

This is why technical analysts get so annoyed with the attitude that price only moves because of news and fundamental changes. What really happened is that BTC has already been in a raging bull market for months, particularly after forming the first structural higher high since 2019 (> $10.5K) this past July. The Paypal news may have catalyzed another leg up, but the bull trend was already very well established, and that leg up was bound to happen anyway. It was only a matter of when.

Reatim

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Quote from: DustyRah on October 21, 2020, 09:53:40 AM

https://www.reuters.com/article/us-paypal-cryptocurrency/paypal-to-open-up-network-to-cryptocurrencies-idUSKBN2761L6?il=0
https://www.marketwatch.com/story/paypal-will-let-customers-buy-cryptocurrencies-and-use-them-for-online-payments-11603283352

PayPal is going to allow buying/selling and even holding crypto on their platform. They will also allow merchants to accept payments with crypto.

I don't know if this is something Crypto community will be glad because as i read replies in topics similar to this?it has been PayPal is the most will benefits from this and crypto users not that advantageous.
Specially when we can find more options than using this payment method.
There are others that we are using before this binding happens and i don't think that this is the settings we have been waiting for long.

Quote from: DustyRah on November 05, 2020, 01:08:16 AM

The upward trend of the price indicates that PayPal getting comfy with crypto has really helped legitimize and open a wall of investment into it. We can look forward to moving towards the $1 trillion mark.

Do you really think that this trend now are because of that PayPal crypto bonding?or this is about the Effect of US election?

matchi2011

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Quote from: shoreno on November 06, 2020, 01:17:36 AM

Quote from: DustyRah on November 05, 2020, 01:08:16 AM

The upward trend of the price indicates that PayPal getting comfy with crypto has really helped legitimize and open a wall of investment into it. We can look forward to moving towards the $1 trillion mark.

is that true that paypal is behind of the bull that we felt in btc ? or maybe it has nothing to do with paypal but history are just repeating itself for btc . there are big hodlers that can manipulate the price to move like this but paypal joins with crypto are still a good news . its not important if this news brings an uptrend on the price or not but what important is that we can now use our crypto and paypal more conviniently . the news was on october and we are now on november , its old and the latest from paypal was they are said to create thier own crypto .

Both are correct, we can't assume that Paypal really bring this hypes but possibilities that it's open the door of much bigger
pumped to expect within the next coming years.

The good thing for now is because of that adoption many people will see and learn about this investment currency and once
more adoptions take place expect that it will bring stronger run.

SirLancelot

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I wonder if paypal has made any profit with bitcoin thanks to these increases as well since they got in. I don't know their system, it doesn't look like an exchange situation, which means they need to have some bitcoin in order to credit that to people and even though there are things lacking in their system like withdrawal and all, they must have some bitcoins to their names.

Considering they started fairly recently and price went up even in this quick period, I would say they probably realized this was one of the best decisions they have made regarding accepting crypto. Plus this means if paypal deals with crypto and profits, that will be a proof how awesome bitcoin can be towards other companies as well, if other huge digital companies start accepting crypto it could be really life changing for us.

3meek

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Quote from: jaberwock on November 06, 2020, 03:11:28 AM

I can't believe this all started with Paypal getting involved. For starters there are so many people who moved to crypto from accepting paypal payments in their online shops because there are so many troubles with paypal. You could literally sell something and the person who bought it from you could make a chargeback and you would lose both the item you sold but also not get the money for it AND charged with fee on top of that, so it is like a kick in the nuts and because of this situation a lot of people moved towards crypto instead of using paypal.

I however feel like this paypal deal is a great thing for the price (obviously) of bitcoin but I feel like as long as paypal do not stop bad practices in business, it will be a short termed hype that will die down eventually in a month or two.

That's right, PayPal has a lot of negative cases with its users... For example, PayPal can unreasonably block an account with your funds...

Then I have one question - if PayPal doesn't give out private keys to its users, BTC transfers aren't allowed either, maybe your wallet number will also be unknown? Then is PayPal going to buy bitcoins to provide users' funds?

jaberwock

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I can't believe this all started with Paypal getting involved. For starters there are so many people who moved to crypto from accepting paypal payments in their online shops because there are so many troubles with paypal. You could literally sell something and the person who bought it from you could make a chargeback and you would lose both the item you sold but also not get the money for it AND charged with fee on top of that, so it is like a kick in the nuts and because of this situation a lot of people moved towards crypto instead of using paypal.

I however feel like this paypal deal is a great thing for the price (obviously) of bitcoin but I feel like as long as paypal do not stop bad practices in business, it will be a short termed hype that will die down eventually in a month or two.

shoreno

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Quote from: DustyRah on November 05, 2020, 01:08:16 AM

The upward trend of the price indicates that PayPal getting comfy with crypto has really helped legitimize and open a wall of investment into it. We can look forward to moving towards the $1 trillion mark.

is that true that paypal is behind of the bull that we felt in btc ? or maybe it has nothing to do with paypal but history are just repeating itself for btc . there are big hodlers that can manipulate the price to move like this but paypal joins with crypto are still a good news . its not important if this news brings an uptrend on the price or not but what important is that we can now use our crypto and paypal more conviniently . the news was on october and we are now on november , its old and the latest from paypal was they are said to create thier own crypto .

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Quote from: Finestream on October 30, 2020, 06:26:13 AM

This is one of the big reasons why we should be bullish on bitcoin, and the recent surge of bitcoin could be a great start already.
We have one of the biggest news this year so far, the adoption that we are hoping are slowly coming with the help of big centralized payment system.

Good luck to us, continue to hold and hope that there will be more big news to come.

In spite of being accepted by one of the biggest companies operating worldwide online payments, the rise in the price of bitcoin does not have anything related to it, from my perspective. First, Paypal only lets people buy and hold their bitcoin within their system. Without sending or receiving bitcoin or even having an address, it is useless to use bitcoin. Second, bitcoin enthusiasts do not like centralization (like me) and there is no point buying bitcoin blindly whenever we hear a nonsense news

Bitcoin deserves better adoption in our daily life. However, this is fine with me. Moreover, I can't stand the congestion in the blockchain network. There will be many updates must be done so as to increase the number of transaction daily. People do not like it when their money gets stuck in the middle of the road

Paypal needs to improve its network for bitcoin and allow users to send their bitcoin whenever they want and wherever they like. If they want to compete with other platforms and companies, they have to look at bitcoin as a real concern.

DustyRah

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The upward trend of the price indicates that PayPal getting comfy with crypto has really helped legitimize and open a wall of investment into it. We can look forward to moving towards the $1 trillion mark.

redsun114

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People are focusing on the bad parts of this paypal deal and not enough with the good parts of the deal.

I understand that you can't exchange it with other people like the way you can do on binance, I understand that you can't withdraw bitcoins wherever you want which should be an easy option for paypal to add if they want to. I understand that this is not a pure exchange that you can trade however you want.

I am not denying that there are tons of stuff lacking in paypals acceptance of bitcoin, there is a big room for improvement in paypal right now when it comes to crypto.

However what people are missing out is the fact that the small things you have right now that paypal offers didn't existed a month ago, and now they are there, even those small and lacking additions mean a lot more than not having anything at all like last month and before.

3meek

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God, save BTC!

The fact that PayPal has added bitcoin to its service is undoubtedly great news for the whole crypto industry! However, please note that so far you will not be able to send or recieve your bitcoins to different addresses and you will not be allowed to know your private keys...
There are plans to introduce payment for bitcoins in the future, but it will only be a conversion to fiat, and payment by fiat...

davinchi

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What I have seen so far from a lot of people who are buying bitcoin from paypal is the fact that it is easier to do that compared to anywhere else. That is the thing about paypal being so important in the crypto world right now, and maybe why it even caused the price to skyrocket to over $13.5k as well with this news, I do not know where they get the bitcoin from or if people buy and sell from each other like an exchange because I haven't used paypal in years and haven't checked the situation, but I can see that ever since they started this, tons of people bought bitcoin from paypal because it was easy to do.

This shows us that "invest into bitcoin" is still something not too easy, if paypal makes it so easy that means other methods weren't this easy and we need to focus on that.

jrrsparkles

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Quote from: rodskee on October 30, 2020, 06:19:18 AM

Quote from: smyslov on October 27, 2020, 03:19:44 AM

This is going to be a long term effect this is just a confirmation that they are going to add Cryptocurrency to their platform but once the platform roll up and once there are Cryptocurrencies transactions on going and PayPal is adding more Cryptocurrencies expect the market to react to that situation, this is the best time to buy for future reaction of the market that this news will bring.

Paypal users trusting their platform for many years now and opening their door for crypto will add investors and users to crypto world .
Imagine how many of those PayPal users will surely study about this market and they might found this as another mode of investment and not just like traditional payment method used in paypal.
so all in all this is one of the best thing we are waiting for years now.

Paypal users may hear about the word bitcoin and also they starts to realize that bitcoin is something can be used by everyone for anything based on our needs on such perspective this is really good for adoption but from the community side, paypal is trying to take advantage of their user's crypto portfolio by controlling their funds and not giving the freedom of decentralized money.

Finestream

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This is one of the big reasons why we should be bullish on bitcoin, and the recent surge of bitcoin could be a great start already.
We have one of the biggest news this year so far, the adoption that we are hoping are slowly coming with the help of big centralized payment system.

Good luck to us, continue to hold and hope that there will be more big news to come.

rodskee

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Quote from: smyslov on October 27, 2020, 03:19:44 AM

This is going to be a long term effect this is just a confirmation that they are going to add Cryptocurrency to their platform but once the platform roll up and once there are Cryptocurrencies transactions on going and PayPal is adding more Cryptocurrencies expect the market to react to that situation, this is the best time to buy for future reaction of the market that this news will bring.

Paypal users trusting their platform for many years now and opening their door for crypto will add investors and users to crypto world .
Imagine how many of those PayPal users will surely study about this market and they might found this as another mode of investment and not just like traditional payment method used in paypal.
so all in all this is one of the best thing we are waiting for years now.

supine

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Great news for crypto enthusiast that are using Paypal now they could easily Buy crypto at Paypal.
But as a fellow crypto holder would you use it or would you still prefer trading sites to buy crypto?
Thanks to Paypal crypto would be easier to buy for those who would like to start earning in cryptocurrency.

justdimin

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Quote from: DustyRah on October 29, 2020, 03:34:37 PM

Their intention is to support Bitcoin and other cryptos as means of payment for their merchants which they currently do not. The merchants don't want Bitcoin and prefer getting paid in fiat. Their intention is also to allow their users to trade crypto on their platform (very bad idea IMHO since the clowns will lose their money left and right) or send/receive it as form of payment with other users.

They will never get into actual crypto ownership for their users because it will be a huge threat to themselves so they are trying to control the crypto space by allowing limited functionality which satisfies most non-technical users.

If they could just focus on the part where merchants could accept crypto, that would be enough all by itself because that is opening the whole world up to something a lot bigger for bitcoin. Think about it, if one day paypal comes out and says "anyone who wants to buy with bitcoin can do so and if shop owners do not want bitcoin, it will be automatically turn to fiat on their account" that is the only logical step we have left.

If that could be done, that means we are going to see something special, we are going to actually get millions upon millions of shops all around the world "accept" bitcoin as in we can spend it even if they want fiat which will result with something crazy, it would be unreal and it would be adoption in a massive scale that we can't even dream about right now.

DustyRah

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Quote from: beerlover on October 29, 2020, 02:10:00 PM

Quote from: BChydro on October 28, 2020, 05:02:34 PM

Quote from: DustyRah on October 21, 2020, 09:53:40 AM

PayPal is going to allow buying/selling and even holding crypto on their platform. They will also allow merchants to accept payments with crypto.

PayPal is accepting cryptocurrencies but you cannot withdraw those coins as per the users who used them and the PayPal team has not answered to the queries whether they will be allowing them to withdraw in the future. When you purchase cryptocurrencies in their platform you can only hold them or sell them.

I didn't know about the withdrawal issue, I researched and paypal has a page that specifically states that you have to cash it to fiat in order to withdraw your money, you can't withdraw bitcoin directly. That is actually a big deal if you ask me, why would I want to cash out when I have bitcoin?

If my bitcoins are mine, I should be able to do whatever I want with it, including taking it to some place else, why force people to use fiat if they do not want to? At the end of the day this is still an addition, paypal wasn't involved at all and now it is involved, that alone itself is a big deal and I feel like we could totally see this as a positive sign, from zero to bad is still an improvement and I believe it will move bigger and better in the years to come as well.

Their intention is to support Bitcoin and other cryptos as means of payment for their merchants which they currently do not. The merchants don't want Bitcoin and prefer getting paid in fiat. Their intention is also to allow their users to trade crypto on their platform (very bad idea IMHO since the clowns will lose their money left and right) or send/receive it as form of payment with other users.

They will never get into actual crypto ownership for their users because it will be a huge threat to themselves so they are trying to control the crypto space by allowing limited functionality which satisfies most non-technical users.

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Quote from: BChydro on October 28, 2020, 05:02:34 PM

Quote from: DustyRah on October 21, 2020, 09:53:40 AM

PayPal is going to allow buying/selling and even holding crypto on their platform. They will also allow merchants to accept payments with crypto.

PayPal is accepting cryptocurrencies but you cannot withdraw those coins as per the users who used them and the PayPal team has not answered to the queries whether they will be allowing them to withdraw in the future. When you purchase cryptocurrencies in their platform you can only hold them or sell them.

I didn't know about the withdrawal issue, I researched and paypal has a page that specifically states that you have to cash it to fiat in order to withdraw your money, you can't withdraw bitcoin directly. That is actually a big deal if you ask me, why would I want to cash out when I have bitcoin?

If my bitcoins are mine, I should be able to do whatever I want with it, including taking it to some place else, why force people to use fiat if they do not want to? At the end of the day this is still an addition, paypal wasn't involved at all and now it is involved, that alone itself is a big deal and I feel like we could totally see this as a positive sign, from zero to bad is still an improvement and I believe it will move bigger and better in the years to come as well.

darewaller

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Quote from: ?? on ??

I read an article recently, by launching crypto buying and selling features 350 million Paypal users just got access to crypto, that's really huge. Adoption is on the way as we have needed. More people will show their interest which make more buying possibility and we're already experienced it.

I would be grateful if someone who uses the paypal can confirm what features have they allowed. Like can we withdraw the BTC we bought through paypal to our own address? Or are we only allowed to keep them in the balance on paypal and sell them for USD.

Paypal being the biggest platform for electronic payments must bring a large user base into bitcoins indirectly and when a new feature is launched by such platforms the users on the particular platform buy some coins in excitement.

I haven't been able to understand what all paypal is going to offer about BTC but from what I have heard and seen from people it seems like a great and positive move.

barbara44

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Quote from: smyslov on October 27, 2020, 03:19:44 AM

This is going to be a long term effect this is just a confirmation that they are going to add Cryptocurrency to their platform but once the platform roll up and once there are Cryptocurrencies transactions on going and PayPal is adding more Cryptocurrencies expect the market to react to that situation, this is the best time to buy for future reaction of the market that this news will bring.

I don't use Paypal personally but I am glad they made such a move because if anything it will at least bring a hike in the price of bitcoins as a lot of Paypal users who might not be aware of what are cryptocurrencies and how they work will now get into our market and the price should jump when new investors come and demand increases. Also there were guys who were worried if Bitcoins is just a bubble and if they should invest or not, with Paypal acceptance of Bitcoins they should be confident now and even more investors.

I hope this move from Paypal is followed by other dominant payment processors because really this is the big step towards mass adoption of Bitcoins we all often talk about.

Viscore

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Well, I hope people could have some insights about this event talking about PayPay collaboration to crypto as it was been discuss in HERE

yeah, the news was so interesting to see and many where happy because it boost the price to increase. But we can't just ignore how the owner of this company changes his mind and have a good approach to crypto as he was seeing bad against Bitcoin, could'nt find a reason to this. We don't know as well the seriousness of this as PayPal once decline crypto before.

BChydro

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Quote from: DustyRah on October 21, 2020, 09:53:40 AM

PayPal is going to allow buying/selling and even holding crypto on their platform. They will also allow merchants to accept payments with crypto.

PayPal is accepting cryptocurrencies but you cannot withdraw those coins as per the users who used them and the PayPal team has not answered to the queries whether they will be allowing them to withdraw in the future. When you purchase cryptocurrencies in their platform you can only hold them or sell them.

darewaller

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I believe this increase in attention towards bitcoin could be the reason why bitcoin is increasing and at a new high right now, not because paypal added and suddenly paypal already made the price go up, that wasn't the case, the reason why bitcoin went up was because of paypal but not directly, it was people who thought this would make a big change that bought bitcoin because of the "news" that made it go up.

Remember bitcoin only goes up when there is a big buying spree and without that bitcoin can't go up, and paypal itself didn't bought any coins which means other people bought it due to the news and that's it. Which is why I believe all these increases will eventually lead to more and more news like this and more and more increases like this as well.

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Quote from: thuyvy2207 on October 28, 2020, 02:21:56 AM

Quote from: ?? on ??

I read an article recently, by launching crypto buying and selling features 350 million Paypal users just got access to crypto, that's really huge. Adoption is on the way as we have needed. More people will show their interest which make more buying possibility and we're already experienced it.

Yes, that's really huge. Paypal with a large user base will create momentum for the market in the near future. Most people who pay online have a Paypal account, they will be more interested in cryptocurrencies and and join this market.

The fact that PayPal accepts Bitcoin and several other cryptocurrencies is certainly very good to improve recognition on financial market. However, it does not introduce much (at least for the time being) to increase the liquidity. The reason is, that Bitcoin can only be bought and sold via PayPal, but cannot be withdrawn from there. Until this changes, PayPal will be for Bitcoin just a good advertisement.
But of course I really appreciate this cooperation and for sure, thanks to PayPal, there will be many more companies that would like to accept cryptocurrencies, so it's very good.

thuyvy2207

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Quote from: ?? on ??

I read an article recently, by launching crypto buying and selling features 350 million Paypal users just got access to crypto, that's really huge. Adoption is on the way as we have needed. More people will show their interest which make more buying possibility and we're already experienced it.

Yes, that's really huge. Paypal with a large user base will create momentum for the market in the near future. Most people who pay online have a Paypal account, they will be more interested in cryptocurrencies and and join this market.

Reid

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Quote from: smyslov on October 27, 2020, 03:19:44 AM

This is going to be a long term effect this is just a confirmation that they are going to add Cryptocurrency to their platform but once the platform roll up and once there are Cryptocurrencies transactions on going and PayPal is adding more Cryptocurrencies expect the market to react to that situation, this is the best time to buy for future reaction of the market that this news will bring.

Ain't it already reacting to what is happening right now?
Been a week and I think we saw what a big company can do to hype something.

I am sure there is still something behind this and not just plain adding buy and sell of cryptocurrencies.
What could it be? We will find out soon. Wink

Also, I may try to buy some with my Paypal funds. Curiosity strikes.

STT

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Quote from: beerlover on October 26, 2020, 12:58:55 PM

huuuuge connection between paypal accepting crypto now and the increase in price as well, people trust paypal more than they should and that could cause them to use it a lot more than they normally would.

Reflected glory, paypal becoming involved adds some reputation and assurance to the crypto equation. Of course Paypal wants this because it believes crypto represents some source of growth and revenue with a percentage cut for them in trading it. Its so locked down in its usage that I'm not quite as optimistic but someone else mentioned how the no withdraw to BTC with paypal could be a security bonus for new entrants. The rise on the news is speculative, if it counts as much as people hope we'll have to see.

smyslov

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This is going to be a long term effect this is just a confirmation that they are going to add Cryptocurrency to their platform but once the platform roll up and once there are Cryptocurrencies transactions on going and PayPal is adding more Cryptocurrencies expect the market to react to that situation, this is the best time to buy for future reaction of the market that this news will bring.

exstasie

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Quote from: adaseb on October 26, 2020, 10:29:24 PM

I don't think any millionaires are going to aquire bitcoin by paypal. The fees are just way too high. If I recall the fees are like 2%, maybe even both ways. The fees might be waved temporarily but eventually they will start charging. So if someone wants to buy $1 million worth of bitcoin on paypal they will lose at least $40,000 in fees alone. No millionaire will do this.

At higher volumes the fees drop to 1.5% but still, there is obviously no excuse for using retail services or even spot exchanges at all if you're buying $1 million worth of BTC. This is Kraken's OTC desk for comparison:

Quote

No fees

We do not charge you any fees for this service and will always quote a competitive price near the spot rate, regardless of the size of the order.

This is definitely aimed at small retail investors, the same core market Coinbase and Square are vying for.

onecall123

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Quote from: adaseb on October 26, 2020, 10:29:24 PM

I don't think any millionaires are going to aquire bitcoin by paypal. The fees are just way too high. If I recall the fees are like 2%, maybe even both ways. The fees might be waved temporarily but eventually they will start charging. So if someone wants to buy $1 million worth of bitcoin on paypal they will lose at least $40,000 in fees alone. No millionaire will do this.

Most retail might use Paypal to get small 4-5 figure sums of bitcoin but never 7 figures worth. You can use an OTC broker or even an exchange like Binanace which charges like 0.10% in fees. This is similar to bitcoin ATMs. The fees are like 10% but if you are buying $100 worth then $10 fee doesn't sound so bad. But nobody would go to bitcoin ATMs to exchange more than 4-5 figures worth of crypto due to the huge fees.

You call attention to beneficial things that went unreported and most people just believe that it's very good news for crypto investor. Smart investors might know that paypal are a bunch of crooks, they wouldn't let them touch their crypto. Right now the crypto on your account can not be transferred to other accounts and even transaction fees are also just ridiculous as you've described.

adaseb

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Quote from: beerlover on October 26, 2020, 12:58:55 PM

This is a brand new thing and I believe there is a huuuuge connection between paypal accepting crypto now and the increase in price as well, people trust paypal more than they should and that could cause them to use it a lot more than they normally would.

All these rich people who were afraid of going into bitcoin but didn't because they weren't sure about whats going to happen, might do that now due to paypal, buying millions of dollars worth of bitcoin from coinbase when you never did any bitcoin related work before could be a daunting experience whereas if you have millions of dollars and used paypal before and want to buy bitcoin you could now just do that on paypal. This is why I believe price of bitcoin is going up now, not because of anything else like hype or whatever.

I don't think any millionaires are going to aquire bitcoin by paypal. The fees are just way too high. If I recall the fees are like 2%, maybe even both ways. The fees might be waved temporarily but eventually they will start charging. So if someone wants to buy $1 million worth of bitcoin on paypal they will lose at least $40,000 in fees alone. No millionaire will do this.

Most retail might use Paypal to get small 4-5 figure sums of bitcoin but never 7 figures worth. You can use an OTC broker or even an exchange like Binanace which charges like 0.10% in fees. This is similar to bitcoin ATMs. The fees are like 10% but if you are buying $100 worth then $10 fee doesn't sound so bad. But nobody would go to bitcoin ATMs to exchange more than 4-5 figures worth of crypto due to the huge fees.

beerlover

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This is a brand new thing and I believe there is a huuuuge connection between paypal accepting crypto now and the increase in price as well, people trust paypal more than they should and that could cause them to use it a lot more than they normally would.

All these rich people who were afraid of going into bitcoin but didn't because they weren't sure about whats going to happen, might do that now due to paypal, buying millions of dollars worth of bitcoin from coinbase when you never did any bitcoin related work before could be a daunting experience whereas if you have millions of dollars and used paypal before and want to buy bitcoin you could now just do that on paypal. This is why I believe price of bitcoin is going up now, not because of anything else like hype or whatever.

plr

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Quote from: Yurkov on October 26, 2020, 06:15:53 AM

Each cryptocurrency expansion is another step to the mainstream.
With this integration, PayPal is sure to gain many customers interested in cryptocurrencies, as well as many PayPal customers will interest in cryptocurrencies. It is a win-win situation for both parties.
However, I also think PayPal is testing the market with Bitcoin and is very serious about introducing its own cryptocurrency. I think we'll find out about it in a few months.

This is the kind of news that I want to discuss to my friends because PayPal is mainstream company and not only mainstream but the biggest in the payment processor, it made things easy to promote Cryptocurrency because they have a ways to use it with PayPal introduction to their millions of merchants.

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Quote from: DustyRah on October 21, 2020, 09:53:40 AM

https://www.reuters.com/article/us-paypal-cryptocurrency/paypal-to-open-up-network-to-cryptocurrencies-idUSKBN2761L6?il=0
https://www.marketwatch.com/story/paypal-will-let-customers-buy-cryptocurrencies-and-use-them-for-online-payments-11603283352

PayPal is going to allow buying/selling and even holding crypto on their platform. They will also allow merchants to accept payments with crypto.

Looks like this is the 3rd thread i visited with Paypal accepting Crypto topic but all are active as this is one of the greatest News we have this year aside from Halving of Bitcoin and the incoming Ethereum Version 2.0 release.

Quote from: Fortify on October 24, 2020, 03:26:28 PM

Definitely an interesting development and will give bitcoin a lot more long term credibility. I wonder if Paypal will eventually expand into other cryptocurrencies, like Bitcoin cash, Litecoin or Ethereum? I think that people will start flocking to bitcoin as an alternative development if a large international payment provider like Paypal starts protecting their wallet. People are tired of holding their money in bank accounts and bitcoin is essentially a form of virtual gold right now.

yeah for years of waiting at last the adoption happens and this pushes the market why Bitcoin reached $13,100+ value this week,the highest we have so far.

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Quote from: adaseb on October 25, 2020, 10:41:13 PM

Quote from: Fundamentals Of on October 25, 2020, 10:19:42 PM

The bad news is that even if Paypal users are allowed to buy stuff using their cryptocurrencies in their Paypal wallets, the transactions are all going to be converted into fiat first so that the merchants will be receiving fiat instead of cryptocurrencies. This is not what Bitcoin and other cryptocurrencies probably want because this is hardly an adoption.

Merchants have always been converting crypto into fiat for as long as any type of bitcoin processors came out. Many sites use (used) Bitpay in the past and it lets you buy anything from the merchant, it automatically converts the US required into BTC and you send BTC and later it converts it into US for the merchant.

Merchants are usually in the business of selling goods, they aren't interested in speculation whether Bitcoin will go up next week, next month or next year. Plus it can also go down since the transaction took place and they will hardly make a profit selling their goods. Generally a private person might want to get paid in crypto and they might hold that for "fun or hobby" however its different for most businesses.

Probably not all businesses are sharing the same lack of interest or indifference to Bitcoin. Of course it is somehow good enough that businesses are amenable to Bitpay-like arrangements but it is a much better scenario, if not the best, if the businesses themselves would accept Bitcoin as a form of money and that commercial transactions between them and their clients or customers are done through the blockchain.

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Quote from: Harlot on October 26, 2020, 06:06:53 AM

Quote from: Fortify on October 24, 2020, 03:26:28 PM

Definitely an interesting development and will give bitcoin a lot more long term credibility. I wonder if Paypal will eventually expand into other cryptocurrencies, like Bitcoin cash, Litecoin or Ethereum? I think that people will start flocking to bitcoin as an alternative development if a large international payment provider like Paypal starts protecting their wallet. People are tired of holding their money in bank accounts and bitcoin is essentially a form of virtual gold right now.

I would expect that before they start doing any kind of expansion towards adding more cryptocurrencies in their platform they would first monitor the conditions within the acceptance of Bitcoin, Eth, and Litecoin and and start on how they can expand on their. Also from the news provided you will see that they have integrated this system on their VENMO payment system which I think is a good start as it is a popular app payment method for the younger generation which I think will be a great fit for crypto payments.

Each cryptocurrency expansion is another step to the mainstream.
With this integration, PayPal is sure to gain many customers interested in cryptocurrencies, as well as many PayPal customers will interest in cryptocurrencies. It is a win-win situation for both parties.
However, I also think PayPal is testing the market with Bitcoin and is very serious about introducing its own cryptocurrency. I think we'll find out about it in a few months.

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Quote from: Fortify on October 24, 2020, 03:26:28 PM

Definitely an interesting development and will give bitcoin a lot more long term credibility. I wonder if Paypal will eventually expand into other cryptocurrencies, like Bitcoin cash, Litecoin or Ethereum? I think that people will start flocking to bitcoin as an alternative development if a large international payment provider like Paypal starts protecting their wallet. People are tired of holding their money in bank accounts and bitcoin is essentially a form of virtual gold right now.

I would expect that before they start doing any kind of expansion towards adding more cryptocurrencies in their platform they would first monitor the conditions within the acceptance of Bitcoin, Eth, and Litecoin and and start on how they can expand on their. Also from the news provided you will see that they have integrated this system on their VENMO payment system which I think is a good start as it is a popular app payment method for the younger generation which I think will be a great fit for crypto payments.

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Quote from: Wulan_maniez on October 21, 2020, 06:52:06 PM

Paypal users are very much with 346 million active accounts, which is one of the largest global payment providers. So it is only natural that the news from PayPal makes the price of bitcoin surge drastically and unexpectedly, which now the price of bitcoin reaches almost $13000. It’s one achievement we all expect. But the price of bitcoin often undergoes sudden changes like this. But it’s time for bitcoin to move on. People can’t wait to welcome the bitcoin party.

So far this is one of the biggest company that adopt Cryptocurrency, it's hard to ignore this news the condition and the health of the market largely depends on the good news that's coming in, we will have more coming in because one things leads to another, all the road leading to this news it's because many things happen positively in the past, we keep the positive news coming and it will snowball into something big.

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Quote from: Fundamentals Of on October 25, 2020, 10:19:42 PM

The bad news is that even if Paypal users are allowed to buy stuff using their cryptocurrencies in their Paypal wallets, the transactions are all going to be converted into fiat first so that the merchants will be receiving fiat instead of cryptocurrencies. This is not what Bitcoin and other cryptocurrencies probably want because this is hardly an adoption.

Merchants have always been converting crypto into fiat for as long as any type of bitcoin processors came out. Many sites use (used) Bitpay in the past and it lets you buy anything from the merchant, it automatically converts the US required into BTC and you send BTC and later it converts it into US for the merchant.

Merchants are usually in the business of selling goods, they aren't interested in speculation whether Bitcoin will go up next week, next month or next year. Plus it can also go down since the transaction took place and they will hardly make a profit selling their goods. Generally a private person might want to get paid in crypto and they might hold that for "fun or hobby" however its different for most businesses.

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Quote from: Fortify on October 24, 2020, 03:26:28 PM

Definitely an interesting development and will give bitcoin a lot more long term credibility. I wonder if Paypal will eventually expand into other cryptocurrencies, like Bitcoin cash, Litecoin or Ethereum? I think that people will start flocking to bitcoin as an alternative development if a large international payment provider like Paypal starts protecting their wallet. People are tired of holding their money in bank accounts and bitcoin is essentially a form of virtual gold right now.

They are taking steps slowly but surely and hopefully they will successfully launch this one next year and introduce more good options for us, hopefully not a shitcoin. Paypal announcement made a huge impact in the market, we finally reach the level of $13k but fell short today, hopefully more good companies will finally accept bitcoin as a legal digital currency, and for me they need to adopt now or else Paypal will dominate the market. Cheesy

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Quote from: DustyRah on October 25, 2020, 10:00:59 PM

Quote from: Fortify on October 24, 2020, 03:26:28 PM

Definitely an interesting development and will give bitcoin a lot more long term credibility. I wonder if Paypal will eventually expand into other cryptocurrencies, like Bitcoin cash, Litecoin or Ethereum? I think that people will start flocking to bitcoin as an alternative development if a large international payment provider like Paypal starts protecting their wallet. People are tired of holding their money in bank accounts and bitcoin is essentially a form of virtual gold right now.

They do plan to include Bitcoin Cash, Etherium and Litecoin. I have a feeling they will eventually come up with their own coin to milk it out. Merchants love Bitcoin payments because there is essentially no chargeback and the seller pays commissions to send it out instead of the merchant paying it. But PayPal will take their cut though.

In fact, their announcement also includes Bitcoin Cash, Litecoin, and Ethereum. But the opportunity for the users to buy stuff from Paypal's merchants will not happen until next year.

The bad news is that even if Paypal users are allowed to buy stuff using their cryptocurrencies in their Paypal wallets, the transactions are all going to be converted into fiat first so that the merchants will be receiving fiat instead of cryptocurrencies. This is not what Bitcoin and other cryptocurrencies probably want because this is hardly an adoption.

Bitcoin, Litecoin, Bitcoin Cash, and Ethereum are not going to be used as they are. They are just used as a sort of a reserve for Paypal's users.

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Quote from: Fortify on October 24, 2020, 03:26:28 PM

Definitely an interesting development and will give bitcoin a lot more long term credibility. I wonder if Paypal will eventually expand into other cryptocurrencies, like Bitcoin cash, Litecoin or Ethereum? I think that people will start flocking to bitcoin as an alternative development if a large international payment provider like Paypal starts protecting their wallet. People are tired of holding their money in bank accounts and bitcoin is essentially a form of virtual gold right now.

They do plan to include Bitcoin Cash, Etherium and Litecoin. I have a feeling they will eventually come up with their own coin to milk it out. Merchants love Bitcoin payments because there is essentially no chargeback and the seller pays commissions to send it out instead of the merchant paying it. But PayPal will take their cut though.

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Definitely an interesting development and will give bitcoin a lot more long term credibility. I wonder if Paypal will eventually expand into other cryptocurrencies, like Bitcoin cash, Litecoin or Ethereum? I think that people will start flocking to bitcoin as an alternative development if a large international payment provider like Paypal starts protecting their wallet. People are tired of holding their money in bank accounts and bitcoin is essentially a form of virtual gold right now.

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Quote from: LUCKMCFLY on October 21, 2020, 12:07:51 PM

I understand that they will start in 2021, for now they are closing all the negotiations with Paxos since they got the license with BitLicense, it is an opportunity to be able to expand with Bitcoin, Litecoin, Ethereum, BCH. It's all a matter of waiting, so far it has been published in a reliable source known as Cointelegraph.

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

But this is also good news in the future. If it is true that it happens with negotiations with their license then I think it's still under consideration so in 2021 there is still time whether accepting cryptocurrency will be a tremendous advantage because this can also be said to be an asset. valuable at this time then paypal announced it too.

Lots of info about this but I will take the good side where this will be a strong response to the existing commodities and the community will welcome it well.

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Quote from: Fortify on October 24, 2020, 09:16:24 AM

Once you see a giant like Paypal start to allow cryptocurrency selling/purchasing/trading, you know there is quite a seismic shift taking place. This is certainly going to have a positive effect on the value of bitcoin and will probably end up taking a large chunk of business away from all of the other exchanges. I know a lot of people who trust Paypal for day to day transactions, but would never dream of going through the application process at somewhere like Coinbase.

That something boosts the hypes in the future, not today. I know that other merchants and big companies will have their adoption into crypto but seems to in the level of trials and yet, undecided.

Anyway, it is the PayPlay that has prompted to take this, and what they did is making a way to help other companies to realize and see crypto potentials in today's generation and probably for the incoming. I see the success of this integration, PayPal will surely find its way to make it prolific.

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Once you see a giant like Paypal start to allow cryptocurrency selling/purchasing/trading, you know there is quite a seismic shift taking place. This is certainly going to have a positive effect on the value of bitcoin and will probably end up taking a large chunk of business away from all of the other exchanges. I know a lot of people who trust Paypal for day to day transactions, but would never dream of going through the application process at somewhere like Coinbase.

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Quote from: adaseb on October 21, 2020, 11:11:09 PM

For many old people who got tons of money and aren't too technical then Paypal would be perfect. They would just open their app, buy it on there and just keep it as an investment. Much easier than having to open a Coinbase account or go to a bitcoin ATM. So since they got such a huge audience this is pretty bullish event in my opinion. Just as big as the BTC futures annoucement a few years back.

It's always funny when people bitch about stuff like this, like they expect the executives of giant dinosaur companies to immediately become cypherpunks or something.

This is obviously good for adoption, just in the sense of legitimacy. And it's possible Paypal adds BTC transfers in the future. That's what Etoro did. And it's definitely good for price. Paypal and Paxos need to source the BTC their customers buy from somewhere, even if their customers can't withdraw it.

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Quote from: DustyRah on October 21, 2020, 09:53:40 AM

https://www.reuters.com/article/us-paypal-cryptocurrency/paypal-to-open-up-network-to-cryptocurrencies-idUSKBN2761L6?il=0
https://www.marketwatch.com/story/paypal-will-let-customers-buy-cryptocurrencies-and-use-them-for-online-payments-11603283352

PayPal is going to allow buying/selling and even holding crypto on their platform. They will also allow merchants to accept payments with crypto.

There's so many similar threads like this here in speculations, altcoins, trading and Bitcoin sections, it's the biggest news so far this month and maybe this year, there's no news as big like this, this year we can possibly reach an all time high with over two months to go expect unexpected things to happen.

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Quote from: aioc on October 23, 2020, 12:35:58 AM

It's not yet implemented I log in in my Paypal account and I cannot see additional feratures or links about Cryptocurrency, they just have been granted license and it's a work in progress

it's already live in the USA, at least for some folks. check out @philipma1957's thread, he's already bought some BTC with his account: https://bitcointalksearch.org/topic/my-vast-btc-hodl-on-paypal-5283723

this is what i see when i log in, so i guess it's being rolled out state by state or something:

apparently it's not coming to other countries until sometime in 2021.

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Quote from: BrewMaster on October 22, 2020, 01:41:18 PM

Quote from: DustyRah on October 21, 2020, 09:53:40 AM

PayPal is going to allow buying/selling and even holding crypto on their platform. They will also allow merchants to accept payments with crypto.

but they are not allowing the most important thing: to withdraw bitcoin from their website.
the way i understand the news is that you can buy bitcoin and you can store it on Paypal and you can sell it again there but you will not be able to cash it out which makes no sense!
it is like an exchange that only works with fiat.

It's not yet implemented I log in in my Paypal account and I cannot see additional features or links about Cryptocurrency, they just been granted license and it's still a work in progress, there could be a lot of changes, once they launch, all Paypal users will be notified through emails, that's what they do when they are adding features and giving a big update.

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This is a big change for bit[Suspicious link removed]d job Paypal

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Quote from: DustyRah on October 21, 2020, 09:53:40 AM

PayPal is going to allow buying/selling and even holding crypto on their platform. They will also allow merchants to accept payments with crypto.

but they are not allowing the most important thing: to withdraw bitcoin from their website.
the way i understand the news is that you can buy bitcoin and you can store it on Paypal and you can sell it again there but you will not be able to cash it out which makes no sense!
it is like an exchange that only works with fiat.

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I honestly think when you are as big as paypal there is no way that "not your keys not your coins" would apply, sure if they get hacked that could be a trouble and if the keys are taken from them and some other person takes the charge of the wallets that could end up very bad.

But, this is one of the biggest companies in the entire world so I am pretty sure they both have a great security, think of all the hacking that could hurt them without crypto as well, and that is why they would be ready and make it very very secure, when you worth tens of billions of dollars as a company you can hire the best people for that. Also on top of that they would have some cold storage as well, so only the hot wallets could be hacked and if a hacker withdraws everything or gets noticed, cold will be locked and until everything is fixed only the hot wallet will be gone.

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Well that's how BTC is getting popularity day by day, PayPal has millions of users on its network and this new service will definitely help BTC and other crypto currencies to gain more adoption as payment method. This is definitely a good news for crypto community because one of a biggest digital payment company across the world has stepped in crypto currency is a great sign for Happy days are coming back Cool

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Quote from: pilosopotasyo on October 22, 2020, 08:29:56 AM

Quote from: DustyRah on October 21, 2020, 09:53:40 AM

https://www.reuters.com/article/us-paypal-cryptocurrency/paypal-to-open-up-network-to-cryptocurrencies-idUSKBN2761L6?il=0
https://www.marketwatch.com/story/paypal-will-let-customers-buy-cryptocurrencies-and-use-them-for-online-payments-11603283352

PayPal is going to allow buying/selling and even holding crypto on their platform. They will also allow merchants to accept payments with crypto.

This proves the saying that if you can't beat them join them, Paypal is going to be one of the big company that will help Cryptocurrency adoption even those who are not using Cryptocurrency will have an idea how Cryptocurrency works, and even those who doubt about Cryptocurency will have a new perception of Cryptocurrency.

Things are not yet guaranteed.
The news regarding PayPal and its acceptance of cryptos, is indeed something to celebrate but we should keep in mind that possibilities will then be clarified once this 'plan' started. Once it started, the influence will determine either progress to the mass adaptation or negative image (if and only if there would be issues eventually). Cryptocurrencies are not yet accepted across majority of the countries for a reason, which is more likely concerned with doubts. And those doubts has basis, ofcourse. So once everything starts, changes may occur afterwards and that is something we should patiently wait nd hope that it will be in favor for this industry. For now, let us all enjoy the good news.

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One way or another, this is still a very big step towards the legalization of Bitcoin and the possibility of using Bitcoin as a means of payment. Moreover, PayPal is a payment system that is used by half the world, and I consider this a positive phenomenon, which will provoke a very expected effect on the growth of the cryptocurrency rate. But nevertheless, I believe that not only PayPal's decisions are the result of the current growth, since today many other factors affect the prices of cryptocurrencies, including the search for deflationary assets.
In 2016, WebMoney also introduced the use of Bitcoin, on an equal basis with other national fiat currencies, but this fact coincided with the beginning of the bull run of that period. By the way, WebMoney is also a payment system that is used by a huge number of people.

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Quote from: DustyRah on October 21, 2020, 09:53:40 AM

https://www.reuters.com/article/us-paypal-cryptocurrency/paypal-to-open-up-network-to-cryptocurrencies-idUSKBN2761L6?il=0
https://www.marketwatch.com/story/paypal-will-let-customers-buy-cryptocurrencies-and-use-them-for-online-payments-11603283352

PayPal is going to allow buying/selling and even holding crypto on their platform. They will also allow merchants to accept payments with crypto.

This proves the saying that if you can't beat them join them, Paypal is going to be one of the big company that will help Cryptocurrency adoption even those who are not using Cryptocurrency will have an idea how Cryptocurrency works, and even those who doubt about Cryptocurency will have a new perception of Cryptocurrency.

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Quote from: adaseb on October 21, 2020, 11:11:09 PM

I think too many people are making a big deal out of the fact that Paypal states that you cannot deposit/transfer/withdraw the cryptos in your account. Basically the entire "no your keys not your coins". Sure it is true however if you are smart enough to own a hardware wallet then you can buy your crypto in other ways.

For many old people who got tons of money and aren't too technical then Paypal would be perfect. They would just open their app, buy it on there and just keep it as an investment. Much easier than having to open a Coinbase account or go to a bitcoin ATM. So since they got such a huge audience this is pretty bullish event in my opinion. Just as big as the BTC futures annoucement a few years back.

Correct. Now can we appreciate how paypal can be a big gate into cryptocurrency mainstream era?
Maybe it was not the most ideal way to use bitcoin as the main big principal in bitcoin is a decentralized and the fact that paypal makes bitcoin there looks totally centralized disappointed us as a decentralized fighter.
I still found a place to appreciate this big occassion.

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^ There are a few big events right now and Paypal adopting crypto is apart of it which is a result of bitcoin price pumped in the market since yesterday in just an hour. Probably many investors jumped to crypto investment because the stock market was down recently. And now Paypal adding more impact to the bitcoin price. With a large number of Paypal users, for sure bitcoin will pump more until, at the end of this year, it is indeed good news to us. Do you think it is the right time to celebrate regarding the bull run?

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Quote from: LUCKMCFLY on October 21, 2020, 12:07:51 PM

I understand that they will start in 2021, for now they are closing all the negotiations with Paxos since they got the license with BitLicense, it is an opportunity to be able to expand with Bitcoin, Litecoin, Ethereum, BCH. It's all a matter of waiting, so far it has been published in a reliable source known as Cointelegraph.

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

Pretty much true. On most of the news websites titles look like PayPal already implemented crypto with full features. Right now, as it seems we will only be able to buy virtual bitcoins, not a real ones i.e. we own bitcoin on paypal and it's price will change like a real one but we won't be able to deposit/withdraw bitcoin. Also, there was an article on cointelegraph about paypal crypto and taxes. Seems we will have to pay and get charged again.

Btw without doubt, paypal is a reason of this rise in price but was it the result of the fact that people didn't understand that paypal hasn't really implemented it right now and what it offers to us is just virtual bitcoin? Or people understood it and it still caused positive vibes?

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Quote from: adaseb on October 21, 2020, 11:11:09 PM

For many old people who got tons of money and aren't too technical then Paypal would be perfect. They would just open their app, buy it on there and just keep it as an investment. Much easier than having to open a Coinbase account or go to a bitcoin ATM. So since they got such a huge audience this is pretty bullish event in my opinion. Just as big as the BTC futures annoucement a few years back.

Using it as a means of purchase is a positive as they have a wide customer base and it connects merchants to consumers of their service. I would however not recommend anyone store their funds on a centralized platform, the risk of; 'not your keys, not your coins' applies in exchanges (CEX) and would also apply in PayPal. Anyone who stores a decentralized currency on a centralized platform undermines the purpose of holding it, and is subject to risk of their funds being seized or their details being sold.
Downloading a Bitcoin wallet for storing your funds is pretty easy, and if the private keys are generated on an air-gapped device it can hold much larger funds, without the need for a hardware wallet (although this is recommended).

This is definitely big news for overall adoption and promotion of Bitcoin and in the long run centralized platforms would contribute to making Bitcoin mainstream, this does not however have to come at the cost of orivace and financial freedom.

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I think too many people are making a big deal out of the fact that Paypal states that you cannot deposit/transfer/withdraw the cryptos in your account. Basically the entire "no your keys not your coins". Sure it is true however if you are smart enough to own a hardware wallet then you can buy your crypto in other ways.

For many old people who got tons of money and aren't too technical then Paypal would be perfect. They would just open their app, buy it on there and just keep it as an investment. Much easier than having to open a Coinbase account or go to a bitcoin ATM. So since they got such a huge audience this is pretty bullish event in my opinion. Just as big as the BTC futures annoucement a few years back.

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Cryptocurrency would be open to more users and even the non-tech savvy people who has PayPal would be applicable now. It's going to be easier now to get a hold of it and it's just going to expose more and more people. That's what we want as a user of BTC, right? More adoptions!

Quote from: exstasie on October 21, 2020, 09:41:18 PM

Libra is dead. Even if it isn't, I don't see it hurting BTC. It'll just trade against it.

Like most of the coins, it's still BTC that is being used as the traded currency. Nothing will ever replace that for sure.

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Quote from: DustyRah on October 21, 2020, 06:03:26 PM

Did some digging around and found out that merchants won't even have to do much to accept payments with crypto, the button to pay with it will automatically show up on the websites similar to how Venmo and other buttons show up. The merchants will have an option to immediately sell the crypto after receiving it as a form of payment though so it may not really affect the price and in fact may support a reduction in price.

Essentially what Bitpay has been doing for a long time.

Paypal must be setting up relationships with several major exchanges or OTC brokers to handle the liquidity. Most of their merchants are probably going to want fiat, so one would expect the payment processing side to be a net negative for price.

Their brokering service may be a net positive for price though.

Quote from: DustyRah on October 21, 2020, 06:03:26 PM

The next hoopla will be when Facebook gets its act together and actually makes Libra possible and that may actually hurt BTC though.

Libra is dead. Even if it isn't, I don't see it hurting BTC. It'll just trade against it.

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Paypal users are very much with 346 million active accounts, which is one of the largest global payment providers. So it is only natural that the news from PayPal makes the price of bitcoin surge drastically and unexpectedly, which now the price of bitcoin reaches almost $13000. It’s one achievement we all expect. But the price of bitcoin often undergoes sudden changes like this. But it’s time for bitcoin to move on. People can’t wait to welcome the bitcoin party.

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Quote from: DustyRah on October 21, 2020, 06:03:26 PM

Did some digging around and found out that merchants won't even have to do much to accept payments with crypto, the button to pay with it will automatically show up on the websites similar to how Venmo and other buttons show up. The merchants will have an option to immediately sell the crypto after receiving it as a form of payment though so it may not really affect the price and in fact may support a reduction in price.

The next hoopla will be when Facebook gets its act together and actually makes Libra possible and that may actually hurt BTC though.

Ah so this is a big deal for a future where people actually spend Bitcoin. That's cool.
Just another sign post in the continuing onward march of Bitcoin's ascension.

If Libra finally ever does happen it won't hurt bitcoin, it isn't designed to compete with bitcoin, it's just another stable coin. If anything it will help bitcoin by legitimizing crypto payments even more.

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Did some digging around and found out that merchants won't even have to do much to accept payments with crypto, the button to pay with it will automatically show up on the websites similar to how Venmo and other buttons show up. The merchants will have an option to immediately sell the crypto after receiving it as a form of payment though so it may not really affect the price and in fact may support a reduction in price.

The next hoopla will be when Facebook gets its act together and actually makes Libra possible and that may actually hurt BTC though.

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Quote from: DustyRah on October 21, 2020, 09:53:40 AM

https://www.reuters.com/article/us-paypal-cryptocurrency/paypal-to-open-up-network-to-cryptocurrencies-idUSKBN2761L6?il=0
https://www.marketwatch.com/story/paypal-will-let-customers-buy-cryptocurrencies-and-use-them-for-online-payments-11603283352

PayPal is going to allow buying/selling and even holding crypto on their platform. They will also allow merchants to accept payments with crypto.

Ah, so they actually followed through on those rumors. Robinhood and Coinbase, watch out!

Heck of a pump today. That's a $1,000 candle. I figured that $12K would act as more reliable resistance, then something like this happens. Fortunately didn't sell anything, but unfortunately I'm still sitting on a little cash too.

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It’s just the beginning, these are only baby steps on the route to mainstream adoption. Please don’t sell anything, this time next year the price is going to be out of this worldly high.

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Its on Coindesk as well and there I read that the feature to buy/sell will be available in a few weeks (for some users its already there it seems). If PayPal helps merchants accept BTC, it will drive a large amount of ca$h into BTC from consumers who want privacy. We can expect more news next year about this to drive BTC and other crypto prices up.

https://www.coindesk.com/paypal-new-york-conditional-bitlicense-paxos-cryptocurrency

LUCKMCFLY

legendary

Activity: 2590

Merit: 1882

Leading Crypto Sports Betting & Casino Platform

I understand that they will start in 2021, for now they are closing all the negotiations with Paxos since they got the license with BitLicense, it is an opportunity to be able to expand with Bitcoin, Litecoin, Ethereum, BCH. It's all a matter of waiting, so far it has been published in a reliable source known as Cointelegraph.

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

DustyRah

sr. member

Activity: 533

Merit: 251

https://www.reuters.com/article/us-paypal-cryptocurrency/paypal-to-open-up-network-to-cryptocurrencies-idUSKBN2761L6?il=0
https://www.marketwatch.com/story/paypal-will-let-customers-buy-cryptocurrencies-and-use-them-for-online-payments-11603283352

PayPal is going to allow buying/selling and even holding crypto on their platform. They will also allow merchants to accept payments with crypto.

Topic: PayPal to open up network to cryptocurrencies (Read 817 times)