Topic: PayPal Vs Bitcoin: Who is the Big Guy? - page 2. (Read 450 times)

Bitcoin can be applied to e-commerce, actually.
I have seen jewellery shops which also take Bitcoin and others altcoins in exchange for their products. The thing is that Paypal sucks for many people who live in unsupported territories and do not have access to regular banking, credit cards and identity documents, my country is an example of it.

Bitcoin could also be approached because some people may like to have power on the fees they pay to the network, instead being taxed by Paypal in an aggressive manner, with decentralized systems we can balance the urgency of our money transfers with the money we are comfortable paying for the transference itself. 

PayPal and Bitcoin are two different payment systems with different features and use cases. PayPal is a centralized payment system. Bitcoin, on the other hand, is a decentralized digital currency. In terms of market cap, Bitcoin is currently the bigger player, with a market capitalization of over $1 trillion as of April 2023. PayPal's market cap is around $300 billion. However, this comparison is not entirely accurate because, as mention above, Bitcoin is a cryptocurrency while PayPal is a payment processor. The choice between using PayPal or Bitcoin depends on the specific use case. PayPal is more widely accepted and easier to use for online transactions, while Bitcoin offers more privacy and security for those who value those features.

Paypal is a money remittance system. Bitcoin is a whole and bona fide currency with its own economy, trade, supply and circulation. Don't misconstrue them for being similar just because you could send money with both.

With Paypal, you don't need to convert your money into a different currency to transfer it to someone. It's a straightforward process, and your recipient's gonna get their money in a day or two depending on bank schedules and whatever scheduling Paypal follows when sending money.

With bitcoin, the same could be said, although you have to convert the money you'd like to transfer into corresponding amounts in bitcoin, and only from there will you be able to send it to your recipient, who also has to convert it back to USD or whichever currency they'd like to be able to use them.

Furthermore, bitcoin is tradeable, money from Paypal is not. You can swap it for different currencies yes, but what it only does is convert you money, therefore not yielding you any profits. It's a different story with bitcoin, wherein trades made with it could yield you profits.

By now, the OP should realize that bitcoin is significantly more powerful than PayPal. Their comparison goes beyond the complication of not knowing who the big guy is. Bitcoin offers many more advantages than PayPal, one of which being the security and ability of bitcoin to function in a decentralised form free of government laws.

Bitcoin is easily adaptable and accessible for cross-border payments, but PayPal is only available in some parts of the world. In a few years, bitcoin will be universal, surpassing PayPal in terms of trust and ease of use worldwide. Let’s just watch out the space soon.

Apples and oranges. Bitcoin is a currency, first and foremost. Would you compare PayPal with Japanese Yen? Secondly, define "Big Guy". The one that's worth the most? The one with the biggest volume?

All in all, they are quite the opposite. Bitcoin is censorship-resistant. Paypal is not. Bitcoin is decentralized. Paypal isn't. Bitcoin charges less than Paypal does overseas. Bitcoin transactions are irreversible. Paypal's, nope. And last but not least, Bitcoin comes with some decent levels of anonymity. Paypal? Haha.

Paypal was up and running years ago, whereas Bitcoin just got going. Of course, Paypal is a big company, but that won't stop Bitcoin from becoming as big as Paypal. We will see Bitcoin surpass Paypal one day, and at the moment, the process is still going well.

But you have to distinguish between Paypal and Bitcoin where Paypal is like your bank account in the real world, and Paypal can help you buy things from the internet. Even though Bitcoin can be used to buy goods from the internet, it still takes time for it to be accepted by all countries. Bitcoin will be big in the future, and we will see it soon.

Paypal is good and fast, but why many people don't like using the payment method is because of the charge back feature. Many people didn't understand how it was being operated. The chances of winning the case is higher for the buyer over the seller, except the seller provides much evidence. Additionally, at the course of that, the seller's account can be suspended if their services or business boycotts the term and conditions of paypal. Consequently, internet marketers learnt to use paypal despite its numerous rules, until bitcoin was birthed. It took years before many Internet marketers started migrating from paypal to bitcoin despite its no reversal risks. Paypal as a centralized payment system, Elon musk, when he was in-charge, was blamed for all the money seized by Paypal unlike bitcoin, I've never seen anybody blame Satoshi over any dispute they've faced in the bitcoin network or market. Power of being decentralized, which has kept Bitcoin atop of Paypal in the online money game. Paypal is about 10 years older than bitcoin, but bitcoin has surpassed it and now compared amongst Gold and Fiat, argued over when it'll take over fiat. Bitcoin has generated wealth for many people and made lots of men rich unlike paypal that ended many businesses due their strict rules and money seizure policy. In your terms, bitcoin is the big guy.

There's no amount of big content you could published about PayPal that makes it more preferred to bitcoin despite they both have a unique application and acceptance in making payments, you will have to first consider PayPal as a centralized gateway while bitcoin a decentralized network which are two different entire entity, bitcoin is a digital currency on blockchain while it can still be used as an asset for a store of value, PayPal cones in with it's own dimensions offering a secured payment services for fiat currency and not a currency itself.

I remember getting my first PayPal account in 2019, it took me this long because it was not supported in my country, and people who used VPN to bypass the restriction got dealt with later, they seized all their money and that's it.

After getting my Paypal account in 2019 I was so excited to use Paypal to make some purchases online but today it's not important to me anymore, I hardly even use the service again because there are many problems affecting Paypal, this shouldn't be compared to Bitcoin in any way, I now use Bitcoin to make purchases online and I never had any issues with payment so far.

PayPal has high charges and they sometimes remove money from my account without having any auto payment active, Paypal is an example of why centralized payment sucks so much.

Deciding between Bitcoin and PayPal really comes down to what you're looking for in a payment system. If you're all about that decentralized life and you want to keep your transactions anonymous and fees low, then Bitcoin is the way to go. For a ecommerce business I would always prefer Paypal.

The difference between PayPal and Bitcoin is quite clear. While the former stands as a banking system that most companies use, it is restricted to most nations like Nigeria. Bitcoin on the other hand isn't country restricted and can stand as a payment option during commerce and trade.
PayPal is also stable compared to Bitcoin which is affected by market fluctuations of price.
PayPal is a centralized system which can effect users funds by freezing or performing some restricted services on it. Bitcoin is decentralized and is more or less controlled by its user.
PayPal can sell Bitcoin but with tax inclusivity, while Bitcoin offers P2P with just a click away.
One most important difference is that Bitcoin is money. It is and can be adopted as a legal tender by a country, whereas PayPal is more of a payment platform and cannot be a legal tender or be used in place of money for transactions.
Bitcoin is the big guy here, because it can absorb and perform many of the function that PayPal is meant for.

It's a lame comparison, paypal is just a company that provides services to its users, while bitcoin is a new monetary system, a superior asset to gold and fiat. Bitcoin is much bigger than paypal so it can't be compared. I even think that once bitcoin becomes popular, companies like paypal will soon disappear.

I'm not sure where the comparison are of there are comparisons, two different entities as obviously, Paypal is very centralized and is a public company. Maybe both can be used as a payment system though, but bitcoin offers more flexibility as we have total control of our wallet, and we can set our own fees if we do our transactions.

And there was one time that Paypal is against bitcoin until they change their tune.

So in any case, I will still stick with bitcoin whenever I can specially if I will do some payments. Paypal is just another option for us.

Both have their benefits and drawbacks, I personally still say Bitcoin is better than PayPal. PayPal has the advantage of being a centralized company that can provide stronger customer support and security. However, PayPal can also be blocked by governments or restricted by law. Meanwhile, Bitcoin has the advantage of being decentralized, meaning it is not controlled by one party. However, Bitcoin also has drawbacks such as high price volatility and higher security risks if someone does not hold their private key securely.

So, For me it's not a matter of who is the bigger figure behind the two technologies, but a matter of how the technology can be used to meet your needs. PayPal and Bitcoin can both be used for online payments, but each has different characteristics.

if you compare it in the past, maybe many people will say that paypal is bigger than bitcoin, but it's different for now, bitcoin is much bigger than paypal and its adoption will continue to grow. Even to be able to compete with bitcoin, paypal must monopolize the market and provide innovation that is far better than bitcoin and that certainly will not be possible for paypal to do.

I was a long-time user of Paypal, For almost 7 years I was restricted 3 times not because of my fault but because of projects and individuals I transacted, they are (Paypal) hard to deal with you need to submit all the requirements and you even need to call them for an interview and it will take several weeks to two months to get access to your funds, all Paypal users can relate to my story

The big breather for buyers and sellers is the discovery of Bitcoin, after I discovered and first made my first transaction on Bitcoin that's the time I dumped Paypal, so when it comes to comparison, on stats, volume, popularity, and adoption, Bitcoin has a big edge and considered a Big Guy.

I'm sure everyone will agree.

Being regulated and relying on the banking system, etc. are the secondary disadvantages of PayPal while the main and biggest reason why PayPal fails is that it is centralized. That means THEY control YOUR money fully and can decide to do with it whatever they want. Whether it is to use it in another market or to freeze (steal) it.
That is one of many things that bitcoin solves. Bitcoin cuts any third parties hands that used to be in your pocket and gives you back full control over your own money.

Against a service provider and a currency, Bitcoin is for me 10 times bigger than Paypal, Paypal is only a regulated company and there are countries that they cannot serve because of restrictions, while Bitcoin is a currency fully adopted by so many countries already, and in fact, Paypal already supported Bitcoin,  in terms of adoption, volume, and number of users Bitcoin is the big guy.
People are choosing Bitcoin over Paypal because of the too many requirements.
And besides, there are a lot of complaints against Paypal, while Bitcoin has established its reputation not only for peer-to-peer transactions but for investors as well.

PayPal offers a service, bitcoin is a currency. They made have some similar benefits that they offer to some customers, but they are not the same. IMO bitcoin is the bigger guy if you choose to compare these two that you should not be comparing on a regular day.

Bitcoin is the bigger guy because the benefits it offers overshadows and make any benefit that PayPal offers to be like Childs play. In terms of transactional reach, bitcoin can be sent to any part of the world unlike PayPal that has some restrictions. It terms of anonymity, you cannot also compare. PayPal does not offer anonymity.

Paypal to me is dated tech, I dunno how to convey exactly what I mean but it just feels like AOL internet to me. I think it’s peaked & will soon be surplus.

The fees on Paypal are insane, all the verification & ID docs required once you hit a certain limit on there are ridiculous.

There are far better ways to send money before you even get to bitcoin but once you do you’ll never use Paypal again if you can help it. Bitcoin bests Paypal in all ways.