which takes more transaction fees-paypal or bitcoin? - page 4.

erikalui

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Quote from: xslugx on February 17, 2016, 01:48:54 PM

Yeah but can you give me an advantage of PayPal? ^^

Cause as far as I can see, btc is faster and cheaper so I don't really see the advantage of PayPal...

Advantage of using PayPal is that it's legal, it holds our cash like a bank and you can withdraw the cash anytime for which no extra fee is charged. If anytime I need fiat, I need to convert BTC to PayPal and for me bank cash is more useful compared to bitcoins as most online portals don't accept bitcoins. They mostly accept PayPal.

DimensionZ

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Shit, did I leave the stove on?

PayPal has higher fees than Bitcoin but if you want to use one of the Bitcoin Debit Card the fees will rack up quickly.

xslugx

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Quote from: erikalui on February 17, 2016, 01:29:04 PM

PayPal charges 4.5%+ $0.35 fee for each transaction if a user chooses Goods and Services as a payment option. Over and above they charge a 4% currency conversion fee.

In comparison, Bitcoin charges 0.0001 BTC fee but converting into fiat costs about 10-15%. In addition if the price falls, we can lose 20-30% of our money or gain the same when the price increases.

The difference is that bitcoin is a currency and PayPal is a payment processor but both have their own advantages and disadvantages.
[/quote

Yeah but can you give me an advantage of PayPal? ^^

Cause as far as I can see, btc is faster and cheaper so I don't really see the advantage of PayPal...

el kaka22

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Definitely paypal has a higher fees, bitcoin fee is much lower than paypal. That is why I have left paypal forever for bitcoin. Now all my money and transactions and payments are in bitcoin. Also bitcoin is worldwide and paypal is limited to some countries.

erikalui

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PayPal charges 4.5%+ $0.35 fee for each transaction if a user chooses Goods and Services as a payment option. Over and above they charge a 4% currency conversion fee.

In comparison, Bitcoin charges 0.0001 BTC fee but converting into fiat costs about 10-15%. In addition if the price falls, we can lose 20-30% of our money or gain the same when the price increases.

The difference is that bitcoin is a currency and PayPal is a payment processor but both have their own advantages and disadvantages.

neonshium

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Quote from: Druze on February 17, 2016, 12:30:09 AM

paypal fees are much higher, the amount taken depends on the country of the reciever, if its a gift or payment, and a couple of other factors, plus paypal needs money to pay its employees.

You are right. Paypal fees are always higher then bitcoin. I do see mostly paypal and bitcoin are accepted by everywhere together. I believe bitcoin will remove paypal by showing it's potential and advantages very soon.

Dekker3D

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Quote from: nanonymousx on February 17, 2016, 07:50:59 AM

Definitely PayPal for most of the cases, I used both and I know it, PayPal takes +$0.30 Cents and a percentage from each business transaction and if you do more Personal "no fees" transactions you will get reviewed, Bitcoin fees is just around 4 cents.

You pay more but it takes a whole lot longer for the transaction to be completed but I guess that's for their charge-back advantage over bitcoin.

Wapinter

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If you want to send money outside your country I.e in other currency with PayPal,you have to pay heavy conversion fee also.Bitcoin conversion is worse.For 1 $ I get 65 inr while current exchange rate is 66 inr for 1 $.

socks435

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I'm looking for free spin.

I tried paypal service but i think every transaction i made to send to someone from paypal is high than bitcoin..
It's instant but the fee is high... unlike bitcoin you can only pay 10k satoshi for every transaction the problem in bitcoin you need to wait a minutes
For transaction before confirmed

Red-Apple

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who cares about the fees, when it comes to their rules. Paypal makes you jump through hoops in order to give you services. something that bitcoin does not.

nanonymousx

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Definitely PayPal for most of the cases, I used both and I know it, PayPal takes +$0.30 Cents and a percentage from each business transaction and if you do more Personal "no fees" transactions you will get reviewed, Bitcoin fees is just around 4 cents.

upsidedown75

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PayPal has been notorious for imposing hefty transaction fees on users of about 3%. While for the transactions fee through bitcoin would be 0.00001 or US$0.005. I think it is the values of fee, so in that bitcoin is better.

Kalder

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Quote from: jonathgb25 on February 17, 2016, 02:36:09 AM

Paypal because it has a minimum fee of $0.35 when sending to an account that is not same with your country compared to $0.04 mining fee of bitcoin.

I thought paypay also charge you certain percentage fee if you are selling something to somebody else.

jonathgb25

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Paypal because it has a minimum fee of $0.35 when sending to an account that is not same with your country compared to $0.04 mining fee of bitcoin.

Druze

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paypal fees are much higher, the amount taken depends on the country of the reciever, if its a gift or payment, and a couple of other factors, plus paypal needs money to pay its employees.

upsidedown75

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I have used both of them, I think both are charging in different way and based on different criteria. But I think Bitcoin charge less than paypal. Paypal charges fixed fee+percentage fee also.. But bitcoin is always good, not too expensive, in my experience.

ctlaltdefeat

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Quote from: mynameisdon on February 15, 2016, 10:14:17 PM

i have little dout in transaction fees of paypal and bitcoin.so if you hade made transaction in both then tell me your idea on it.

i'm pretty sure some people here has been post about this,comparing fee between western union,paypal and bitcoin. and of course,bitcoin have more small fee than that two.

Kalder

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When I sell on Ebay, depending on the value of the goods, Paypal can charge me up to 12% of the total revenue.

TastyChillySauce00

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If it for purchasing thing,bitcoin need less fee than paypal but if you'd exchange your coin to dollar it depend on how much exchanger will took fees every exchanging a currency

unamis76

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I've only done one transaction using a PayPal account and I've paid more in fees on this transaction than I've paid in fees in 2 or 3 months using Bitcoin... So there's that. PayPal is immesurably more expensive.

Topic: which takes more transaction fees-paypal or bitcoin? - page 4. (Read 3204 times)