Topic: Why PayPal does not like BitCoin sellers? (Read 3117 times)
Because they are the middlemen. Bitcoin want to remove that and I hope you haven't still forgotten about that.
Bitcoin is risen day by day and it is the major competitors of paypal.For this reason paypal does not like bitcoin sellers.
You are right that bitcoin's popularity and user are dramatically increased day by day and paypal see bitcoin as its rival in terms of payment/trading. But there's a big difference between the two.- Exchange rate or fee varies on the market/which service or exchanger you use
- (transaction)Pretty fast on the first couple of years its released but now its slow
- There's no maximum or minimum amount of per transaction
- You can trade Bitcoin or sell it all across country
- Everyone can use it anonymously
- Transaction fee's varies which country you are on
- Paypal exchange rate charges 2.5% currency conversion fee
- Speed of transaction is as soon as next bussiness day
- There's a maximum and minimum amount you can do per transaction
- It needs your banking account/creditcard info/debit before you can transact or send money to anyone
And much more
Bitcoin is risen day by day and it is the major competitors of paypal.For this reason paypal does not like bitcoin sellers.
None of the businesses like competitors. Until 2016/17, Bitcoin was regarded as one of the major competitors of Paypal. And it was quite natural for the PayPal guys to do whatever they could to harass the Bitcoin users. Moreover, Bitcoin is not much favored by the governments. So even if PayPal bans users for Bitcoin trade, the users are not going to get any legal help.
Paypal is in a partnership with Coinbase, letting their users cash out their bitcoin with Paypal. Additionally, behind the scenes, PayPal’s been showing signs of interest in virtual currencies. A recently published patent application from PayPal shows the company has explored integrating bitcoin and other virtual currencies like LiteCoin and Dogecoin into physical smartphone payments. The patent application was filed in December 2015.
The payments giant recently added Wences Casares, CEO of bitcoin wallet Xapo and a renowned bitcoin advocate, to its board of directors in January 2016.
Also, PayPal also held a hackathon in December, according to multiple sources with knowledge of the event. The purpose? To find out new ways for PayPal to use bitcoin and blockchain technology. The attendees included Snapcard, a B2B bitcoin payments company, Coinbase, and Chain. Developers tested things like cross border payments, merchant processing, and creating a digital wallet using bitcoin.
Depending on how well paypal can integrate the lightning network into its structure, Litecoin seems more viable right now but bitcoin will never be really far behind with all the development being poured into the lightning network.
Different things and different concept between bitcoin and paypal. Paypal you can use for online payment, but don't have a investment.
But bitcoin can do online payment, but can do investment in bitcoin. Invest in bitcoin more profitable than gold. So demand and supply in bitcoin is high.
But paypal just only solutions for online payment you can use in worldwide.
But bitcoin can do online payment, but can do investment in bitcoin. Invest in bitcoin more profitable than gold. So demand and supply in bitcoin is high.
But paypal just only solutions for online payment you can use in worldwide.
That is a very normal way of rivalry in business and also to safe guard from falling.
Simple. Bitcoin sellers are the competition of PayPal in the electronic payment industry. Actually PayPal does not like the concept of the Bitcoin as it is now being uaed worldwide for electronic payment. Unlike before, PayPal dominates the whole electric payment industry in the international setting.
But in local setting, for example here in the Philippines, the competition for electronic payment is a lot bigger. There are companies like gcash, who was actually recently established and 45% owned by Jack Ma, that deals electronic payments in the goods and services purchased.
Although thses electronic payment service companies competes with Bitcoin, Bitcoin has a lot more to offer as it has it's own currency. Bitcoin is the boss of it's own.
Yeah it seems paypal had found the a good competitor, higher charges of paypal is sometimes due to monopoly or lack of competitor, even if they will ask higher service still people opted to pay because of needs, aside from that every services they offered has a corresponding taxes including value added taxesBut in local setting, for example here in the Philippines, the competition for electronic payment is a lot bigger. There are companies like gcash, who was actually recently established and 45% owned by Jack Ma, that deals electronic payments in the goods and services purchased.
Although thses electronic payment service companies competes with Bitcoin, Bitcoin has a lot more to offer as it has it's own currency. Bitcoin is the boss of it's own.
and the bad things it will be charged to you included in the service payment.
PayPal has controller over currency any get some money for transactions, I think in case of bitcoin it's decentralized so it's is more convenient in nature without third party so PayPal not like it.
They are really aware on what are the capabilities of bitcoin which they would really see these things for sure. They might like it or not but bitcoin would really be used as it should be. Simple. Bitcoin sellers are the competition of PayPal in the electronic payment industry. Actually PayPal does not like the concept of the Bitcoin as it is now being uaed worldwide for electronic payment. Unlike before, PayPal dominates the whole electric payment industry in the international setting.
But in local setting, for example here in the Philippines, the competition for electronic payment is a lot bigger. There are companies like gcash, who was actually recently established and 45% owned by Jack Ma, that deals electronic payments in the goods and services purchased.
Although thses electronic payment service companies competes with Bitcoin, Bitcoin has a lot more to offer as it has it's own currency. Bitcoin is the boss of it's own.
Yeah it seems paypal had found the a good competitor, higher charges of paypal is sometimes due to monopoly or lack of competitor, even if they will ask higher service still people opted to pay because of needs, aside from that every services they offered has a corresponding taxes including value added taxesBut in local setting, for example here in the Philippines, the competition for electronic payment is a lot bigger. There are companies like gcash, who was actually recently established and 45% owned by Jack Ma, that deals electronic payments in the goods and services purchased.
Although thses electronic payment service companies competes with Bitcoin, Bitcoin has a lot more to offer as it has it's own currency. Bitcoin is the boss of it's own.
and the bad things it will be charged to you included in the service payment.
The given experience really wishes to be better. And who knows exactly how the things regarding this are going today?
Simple. Bitcoin sellers are the competition of PayPal in the electronic payment industry. Actually PayPal does not like the concept of the Bitcoin as it is now being uaed worldwide for electronic payment. Unlike before, PayPal dominates the whole electric payment industry in the international setting.
But in local setting, for example here in the Philippines, the competition for electronic payment is a lot bigger. There are companies like gcash, who was actually recently established and 45% owned by Jack Ma, that deals electronic payments in the goods and services purchased.
Although thses electronic payment service companies competes with Bitcoin, Bitcoin has a lot more to offer as it has it's own currency. Bitcoin is the boss of it's own.
But in local setting, for example here in the Philippines, the competition for electronic payment is a lot bigger. There are companies like gcash, who was actually recently established and 45% owned by Jack Ma, that deals electronic payments in the goods and services purchased.
Although thses electronic payment service companies competes with Bitcoin, Bitcoin has a lot more to offer as it has it's own currency. Bitcoin is the boss of it's own.
I think the problem is that there's so much scamming with Bitcoin. It's really ridiculous how rampant the scamming is. If you try to sell Bitcoin for PayPal there's like a fifty percent chance you're going to get scammed so they want no part if it. It sours people's idea of PayPal. Like, I never had any problem with PayPal until I sold some for PayPal and found out what charge backs and disputes were. I'm not saying Bitcoin is bad, I like it and it has its uses, but it's not really compatible with PayPal.
One of the major reasons for this is bitcoin is their competitor, and if they accept to do business with bitcoin sellers openly they just might lose their paypal product which has taken many years to brand and bring up to where it is today.
I think one other reason they do not like bitcoin sellers its because it is almost impossible to implement the buyer protection which is something that paypal prides itself about.
I think one other reason they do not like bitcoin sellers its because it is almost impossible to implement the buyer protection which is something that paypal prides itself about.
I always think about that that paypal saw bitcoin as a rival to their business model so they would not or will never accept it for any reason whatsoever.
Who knows only time will tell
Its not actually a rival since not all merchants do consider or decided to be adopted on their payment options specially seeing now the current situation regarding on fees and confirmation times. Paypal is confident enough for sure that Bitcoin would just really have its own field than on worrying too much for it to be replaced but well it cant really be avoided for paypal to think up on that way. Lets talk back why paypal doesn't like bitcoin sellers then I would say this is mot likely on personal reasons. Who knows only time will tell
I always think about that that paypal saw bitcoin as a rival to their business model so they would not or will never accept it for any reason whatsoever.
Who knows only time will tell
Who knows only time will tell
Really I sell my Bitcoins all the time to Paypal with my coinbase account and it's less a hassle then with my bank in fact i did a instant sell to paypal a few hours ago.They work properly.
Because paypal and bitcoin have similar functions but in the case of bitcoin transaction costs much cheaper than paypal and bitcoin have more value for example bitcoin can be a very profitable investment, bitcoin also provides convenience in transactions between countries so that paypal feels will be dropped by bitcoin . and it happens the competition between paypal and bitcoin.
If your payment is anonymous you can pay through bitcoin instead of paypal.If someone is asking you for payment through bitcoin than you cannot go for chargeback or refunds.Bank will not be responsible for the payment you made through bitcoin
Obviously because bitcoin is a threat to PayPal .
Since the popularity and value of Bitcoin has risen , it has started affecting the market of many exchanges including PayPal . PayPal is very complicated in terms of attaching your bank details , verifications and so on which makes Bitcoin easy to use and operate without any questions and taxes other than the miner fees .
That is why PayPal may never be able to accept bitcoin as its mode even though that will positively influence PayPal.
Because Paypal is run by thieves who will forcefully destroy your financial life when a criminal asks them to back charge you for work you actually did, and can prove you did; but Paypal doesn’t care… The same isn’t true for BitCoin where that isn’t possible.So, the answer is that Paypal can’t keep up with BTC because BTC is made for truth and clarity; Paypal is just another thieving bank!!!
I support you. But I thought that after the emergence of bitcoin PayPal to splurge. It's amazing that they still exist. Perhaps in this world a lot of people who think otherwise and continue to use their services. After problems with the transaction price of bitcoin will be solved such as PayPal will not. Jump to: