Topic: PayPal vs Bitcoin Comparison of online payment methods (Read 1998 times)

We all know bitcoin security is better for online shop tham paypal,and also fee of nitcoin transaction is smaller than paypal,its why bitcoin better than paypal for online shopping

That would be tough for me but currently would choose btc because I need more xD right now.

this is decentralization system, that why no one can controll bitcoin,
if you can refund your transaction bitcoinis not a "private wallet and decentralization system "

I think that scammers are profiting more scamming PayPal and charge backing people all around the world than what people will get scammed by using Bitcoin since the transactions are irreversible. If you take precautions and stay careful, Bitcoin being irreversible is not such a big of a deal!

I kinda see it as fiat vs bitcoin because paypal could use bitcoin, there will still be a need to paypal just like people use coinbase currently with bitcoin.

In the future if we can remove fiat things could be different.

if you deal with a  big merchant i do not see this problem, they can issue a refund for you in case you need tor eturn the item

One thing I hate about bitcoin

Don't forget that any transaction with BTC there is no refund so scammer will profit it.

Definitely choosing Bitcoin over Paypal anyday! There are quite a number of reasons for this :
1.Transaction fees : Being from a native country where dollars is not the mode of currency, paypal rips the hell out of my money in transaction fees if I have to in cash my money to bank transfers.

2. Verification : Like I have to submit too many details fro my country including PAN(Permanent Account Number).

3.Time : Takes forever to have the cash transferred to my actual bank account .Maybe just a couple of hours but still bitcoin exchanges do it in seconds.
 Considering this,its obvious why to choose bitcoin.

That's a good point and I like the link (https://blockchain.info/wallet/paypal-vs-bitcoin) I wasn't aware of this comparison its a good one.

I disagree with this. I definitely think that the 2 can be compared. They are both used for online transactions but Paypal is definitely more widespread compared to Bitcoin. But the 2 are definitely in the same league.

Wow. That's really nice that you went to all the effort of making this whole list. I agree with everything you said. Great work.

BTC is accepted in all countries not paypal but Paypal is accepted everywhere.

The fact that Bitcoin has very little customer / consumer protection when they do not work through legitimate payment processors, will put the risk squarely on top of the clients

shoulders. I usually do not like to work through 3rd parties, but when it's a bigger purchase and a lot of money is involved... I would seek out the payment processors with customer

protection. The small fee's being paid for peace of mind, is more than worth it. That said... legit operations can also be fooled, with fake verification and falsified documents.   

they say that paypal is for the buyers and bitcoin for the seller, so you choose based on what you have to do, buying or selling


well bitcoin is not only a currency, it's only a payment system, but i can agree that it need to be compared more to visa and other big circuits

I think that in this thread and on its aim is forgotten something very important. To tell that this comparison help to understand the main characteristics of both subjects but that this comparison made here (as it is) cannot give an clear and full idea about the utility of everyone of those. Needed other data to see who is the best in the times we live.

First have no meaning to be compared a currency with a service. Bitcoin is a currency and Pa Pal is one service. Cannot be compared an apple with a banana. Anyhow, this maybe can be made to tell that this service can be substituted because is outdated and it is not necessary to be used (if so). So can be used directly the currency and not the service invented to use it (offering something that is needed from the users of it).

But the important things is to know what can be realized using both the subjects (even being different from each other). Because one of those must be much more effective and convenient to be used compared to the other but if have no spread serve practically for nothing. Cannot be bought with him if it is not accepted or known by the merchants. So, even being a fan of bitcoin, I think that bitcoin is yet years away to compete with PayPal (if is the winner from the "match" "played" at the main post).

But Bitcoin security is the worst, You shouldn't use Bitcoin to transfer big money if If you are not good at computer technologies, hacker is everywhere in Bitcoin community, even the programer and coder could be hacked.

Besides, the Bitcoin transaction is irrevocable.

one more thing that bitcoin better than paypal for online payment methods,its small fee
bitcoin have a small fee if used at online transaction,but paypal is depending of amount transacted.

That's the big idea with Bitcoin vs. PayPal transactions is the fees that PayPal collects. If I was the head guy in charge of what PayPal is doing, I would immediately start drastically cutting down the fees, because there are other alternatives now that people can start avoiding these fees.

Most PayPal hacks are from phishing and the hacked payments can fairly easily be reversed. With Bitcoin, this is impossible. However, PayPal being centralised expose them to more threats. Compared to Bitcoin which is irreversible, PayPal does provide a security for the customers if the account gets hacked.
If PayPal were to ever integrate Bitcoin payments, the fee would be very high and would possibly present no significant benefits for merchants other than its acceptance rates.