Topic: Will you buy BTC from PayPal now that they are letting people do it? - page 3. (Read 1408 times)

I am happy when paypal accepted bitcoin and altcoin but I think if we can buy bitcoin and altcoin trough bank what for have to use paypal, do you know how complicated with using paypal and how many member got problem their paypal account limit? I never buy bitcoin and altcoin trough paypal because very bad way and we can buy using band or convert our money with local exchange to buy and hold bitcoin. Good impact to make bitcoin to the top price if paypal accepted bitcoin and know every one can buy bitcoin with paypal purchase.

I think i will wait and see,i am purchasing some items from Ebay using paypal but i am not sure about how and what is the benefits from this so i decide sooner when the operation and success comes enter.
i don't wanna go with the flow in things that i don't really support and understand that well.
ops have just checked it now and yeah there is still no option,Maybe Asian region still waiting for the green light to start and acquire from this.

What can you do in an exchange, though?  Stop and think about it.  What are you really doing?  

After you deposit funds to an exchange, no transactions are taking place on any blockchains.  You aren't the owner of the tokens that are being "traded".  You're moving representations of coins.  You're playing with IOUs and paying for the privilege.  None of it is a genuine transaction.  Every number you see on your screen that you think belongs to you, in practice, belongs to them.  They own all of it.  They hold the keys.  Until the point where you choose to withdraw some coins (assuming they let you) and once again they'll charge you for the privilege.

Every single thing you "do" on an exchange is the exact opposite of the way Bitcoin was designed to be used.  Attempting to make the everyday use of Bitcoin more like an exchange is not an "upgrade".  It's a perversion.

The beauty of Bitcoin is that no one can block your transaction.  You are waiving that right by handing over control of your money to strangers on the internet.

Wrong because those who regularly uses Paypal in their online transaction will surely benefits from this and they will be the first to use this system.
And besides there is no forcing if we will use exchange or not but for sure sooner there will be upgrading that will happen and we can do in paypal what we can do in exchange.
Anyway there are many way on how we need our Bitcoin and other altcoins so this is not a one way thing.
Just wait for a short period of time and you will see what will be the benefits of all this.

I doubt that will happen. Many users who have never transacted with Bitcoin before could make mistakes that result in them losing their coins. They can send them to the wrong address and blame PayPal. This would create additional customer tickets that support would have to handle, and users would be bashing PayPal all over the Internet and social media. None of this is in their best interest.

The option to buy goods and services is going to be added eventually and that is an interesting feature. It would be even better if they allowed Bitcoin to be transferred from external wallets into your PayPal account, and using those funds to purchase goods and services. But I don't think that is going to happen either as they would be losing out on fees when doing the coversions.

It is not available to anyone expect citizens from the United States. They will extend to other regions during 2021.

actually it is really good for me to do a hodl.

If all I ever do is buy and hodl for 15 months or what ever

when I do sell it would be really simple to figure taxes.

ie spend 1000 usd over 1 year hodl 3 ,5,10,15 years. and cash.

simple easy to do on my usa tax return.

Maybe I will consider if only there's not much option to buy BTC.

But today, lots of options here in my country to buy BTC in a much convenient way.

I have a Paypal account. The only thing that might consider me to buy BTC there if I found their rates are good. Not checking it yet (or not sure if my account is now eligible for crypto-related purchase) and still not learned the whole Terms of Service related to that.

I want to perticipate buying bitcoin from paypal but Paypal account still doesn't showing any buying option from any other country but u.s. Although we can't withdraw btc from their website but can trade there & possible to make huge profit through that .but if anyone want to hodl btc in their wallet then Paypal is not correct option for them

Well, I voted ^{[I will wait and see]} because I know there is quite an adjustment on the feature of buying they had.
If they allow users can transfer bitcoin to another wallet which is a noncustodial wallet, I will choose paypal and buy bitcoin. But if not, -- why I choose them to trust my bitcoin if I can't even send to exchange. Perhaps, the feature they had is to buy and sell bitcoin and use this to pay in the merchant that supported by them, nothing else matter. Not just because you buy just for holding, that is impossible.

There are too many exchanges where to buy bitcoin that you will own keys, not like paypal you don't even transfer your bought bitcoin in or out of paypal account. The only thing that makes paypal have good benefits to bitcoin is only awareness. Those people who know how to buy bitcoin that they own the keys for sure they will not choose paypal.

I won't buy Bitcoin through Paypal because I know there are simpler ways to own Bitcoin.
Paypal has ridiculously high fees while I can participate in P2P transactions at reputable CEXs like Binance, Houbi, Okex ...
Currently, Paypal just supports Bitcoin for US citizens, when reaching the world, they will need more laws.

I voted no. I am glad that PayPal has introduced this option of purchasing and holding Bitcoin for US citizens, and hopefully the rest of the world within the next couple of years. I would have no reason to not trust them with my Bitcoin because I have a verified account that I use to wire money to myself almost every month. It is a good way to attract millions of new Bitcoin users, but for those of us who have tried out P2P exchanges, meetings between sellers and buyers, it is not the ideal way to go about it. The Bitcoin can't be moved to external wallets or used to purchase any goods or services. It's their crypto until you decide to convert it to fiat on their terms. It's not what hardcore Bitcoiners believe in, but I welcome the initiative and I hope it will show positive results.

I am going to check their new TOS in more detail to see what exactly the users agree to in relation to the crypto that PayPal holds. I expect they will hit you with high fees when you decide to convert your coins back to fiat.     

No for now.i agree its a good news that paypal allows buy & sell bitcoin on their platform but not allow to withdraw it.so maybe newbie user will buy bitcoin by using Paypal, but as an advance user of crypto, i don't like, my assest stuck on their platform.rather i would like to see my bitcoin in my wallet & that's why i prefer to buy bitcoin from exchanges, not from on paypal platform

Looks pretty good, although I'm in the EU so I won't be using it. As for KYC, if I were to choose between a custodial exchange with KYC and a non-custodial with KYC, the choice would be obvious.

We have some ATMs and even F2F exchanges here, but they usually take a fee of 2-5% so a flat fee would be a very nice change At the moment I'm often using a F2F exchange service that doesn't require KYC. The fee is high but at least it's more or less anonymous.

We definitely need more competition and although PayPal isn't the best or the cheapest it's going to add the pressure those other businesses need to start being more competitive. This is how free market is supposed to work.

No, i will never buy BTC there. They banned my fiat account without reason. Hopefuly, i dont have money there. Anyway, its too shady centralized platfrom. There are better crypto exchanges in the world with better rates. I still prefer to buy crypto from my bank card on bitfinex

I will buy Bitcoin and Litecoin and maybe ETH (not a chance in hell I'm gonna buy Bitcoin Cash) ....for the following reasons:

I 'suspect' given some time like the old PayPal Viemo...that will become a crypto PayPal wallet now...in that  to PayPal did 'eventually' allow

Vimeo to let you take crypto in/out....so I am 'suspecting' the same here, eventually, with such options in PayPal.

It is NOT that big a stretch to see PayPal, IMHO...suddenly start to act like Coinbase and such. Indeed, cutting into BTC/Crypto Exchange

action via PayPal instead makes a lot of sense for PayPal to do. Not saying the fees would be any less...maybe even more...but they won't stop

with where they are now with crypto and PayPal actions, IMHO.

I also think that it is a 'matter of adoption'. IF PayPal did allow crypto actions in/out even with KYC and such that Coinbase has to do..I think they

will clean up....mostly to our benifit in the way of great inroads into adoption and hopefully HODL'ing to the masses via some 'toe-tipping' into the

waters of PayPal.

Just saying, IMHO, BTC/Crypto is 'virtual land. In Bitcoin's case 18.5 million or the 21 million coins are 'already' mined and out in the world..so

it all depends on adoption to build the 'infrasture' on top of this 'virtual land'. The internet backbone, you made NO $$$ on that, the $$$ were in

the apps like Facebook/Ebay/etc. With BTC/Crypto it is adoption and use, the $$$ are not mostly in the apps..they are mostly reflected eventually

in the BTC blockchain and reflected in BTC price (or as I think of it ..virtual land) so...anyway, how I see it. PayPal will 'evolve' into Coinbase in

some manner or another (good or bad) and Banks IMHO MAY never allow you to have access to your BTC/Crytpo holdings...I suspect they never

will go beyond in/out and never give you direct access to coins. As of 'virtual' type stuff like PayPal...well....I am more hopeful in that they did

eventually allow such with Viemo ...that is to become the wallet.

Of course, back to this thread...IF PayPal 'does' manage to buy BitGo...then they could do the above and use PayPal as it is 'as the in' with links

inside to further just use Bitgo....that would be from  PayPal's point of view the quick and easy way to land like an Elephant in the BTC/Crypto

Playground indeed!

again I know zip, at one time I believed in ButterFly Labs...so keep that in mind..but how I see things likely to play out one way or another

Brad

I have voted maybe on the poll you have created for the reason that I am still not sure if I would try buying Bitcoin using PayPal or not. Well, it is good that such a big and well-known electronic commerce is now allowing the purchase of Bitcoin on their platform, still I find it easy and more comfortable to purchase using an exchange. But maybe I can still think about it for a while if I would reconsider purchasing Bitcoin through the use of PayPal. But as of now, my answer would just be a maybe for I still do not find a concrete reason for me to try buying Bitcoin using such platform.

Lets hope that they would really go into that extent where btc deposits would already be available but I highly doubt that they will really be into that transition but who knows?

In the question if I would consider on making up some purchase? Yeah I might try but the same as op where I will test out for 20 bucks and never intend to go above that point.

Nothing beats if you do held up your coins into a wallet where you do possess its keys.

Simple answer is no as I have no use for "Paypal BTC" at this point.

However I'm a big user of PayPal, and a BTC enthusiast, so I hope PayPal can improve their offering over time. If they could accept BTC deposits, that could be used when buying goods and services, then that would be useful.

That's about where I am at.  I am glad PayPal has allowed a way to participate, imperfectly, with Bitcoin, but I have other methods I prefer.

Recently I signed on with LibertyX, they have a way to buy BTC for CA$H at almost all CVS stores and 7-Elevens.  You have to go through KYC, that's really the only drawback, but if you don't mind...  LibertyX currently offers BTC as below:

-- $20 - $500 limits IIRC
-- a $4.95 flat fee
-- They sell BTC at the "offer price", so a bit higher than, say, preev.com's BTC price.
-- Customer chooses "fast" or "slow" confirmation/miner's fee
-- LibertyX may end this October 31, check!  

libertyx.com

The above works out to about 1.8% TOTAL premium -- with "fast" confirmation for a $500 purchase, which is pretty good!  Note the $4.95 flat fee, obviously premium would be a higher percent for smaller BTC purchases.  I have done this a few times now, it's a cheap way to buy BTC without messing with exchanges.


edited for clarity