Bitcoin Forum

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.

Paypal fees are much higher. Google told me it is about 3% + $0.30 but may vary.

based on uk prices

bitcoin to bitcoin transactions are about 6 pence right now
paypal to paypal transactions are free

bitcoin to bitpay are 1%(merchant pays) + 6pence tx fee(sender pays)
paypal to ebay are 3.4%+20p(merchant pays)

moving from a bank account to bitcoin usually involves a spread of upto 4%
moving from a bank account to paypal usually free

moving from a credit card to bitcoin usually involves a spread of upto 8%
moving from a credit card to paypal usually 3.4%+20p

so lets say its a £5 transaction
user to user
bitcoin=6pence
paypal=0

user to merchant
bitcoin=6p(sender) + 5p(merchant)
paypal=37p(merchant)

bank wire
bitcoin= 12p spread loss
paypal=0

credit card
bitcoin= 24p spread loss
paypal=37p

I have to pay banking fee's on top of PayPal services and if you add these two together, I pay about $5+ extra for fees on every transaction. My banking package include some bundled free transactions, but those free transactions are absorbed in the total package. < I just took a average for all the transactions I make >

So yes, PayPal is more expensive, but some Bitcoin payment processors also ask added fees for some transactions. You seldom find online merchants willing to work directly, without going through payment processors.

From the transactions that I have made involving bitcoin and PayPal, I believe PayPal fees are much higher compared to bitcoin in similar transactions.

i don't know if you mean service exchange of bitcoin, or simply the bitcoin client, because the latter is very cheap under 5 cent

where paypal is at least 1 euro for everything related to fee, for recharging your credit card for example it's 1 euro under 100 euro of recharge, with bitcoin i don't pay 1 euro to send my money to another wallet...

yes cool story, but everybody around using paypal with linked debit card and it is going directly from your bank without any fees at all..convenience and speed (for BFU) is also incomparable..

transaction is instant so yes is incomparable bitcoin is faster, confirmation are up to 180 day with paypal if you don't know

i know that you can use directly your funds in your bank account via paypal, but if you need to recharge a new added credit card using the funds from your bank account, it not comes without fee

users don't give a shit, how long processing or some backend takes. for them is important, how long takes the transaction on front-end. you should know this..

adding and removing card is free. they just ask you for some dollars to verify, if cards exists and this fee is refunded. please realize, that majority of users here also known paypal, so no need to lie here...and hey...how often you are adding and removing card from paypal? cards are usually issued with 2 years validity, so even if you have 2 of them it is about 5 minutes operations once per year. well, I can survive this..

For sending cash to a friend in the same country then yeah paypal is the way to go, its free.  However if that friend is using a different currency or you are a merchant then bitcoin is a no brainer........ ;D

i'm not talking about adding or removing, i'm talking about recharging a new added credit card, under 100 euro it is 1 euro of fee, already tried multiple times, you can even see this under their "rates page"

Of course paypal is higher. They take around 3%, but this is also due to the fact they need the employees, so they must make money. Bitcoin on the other hand takes only about 0.0001BTC to pay the miners.

PayPal charges their custommers much higher fees for transactions than Bitcoin does. Here where I live PayPal charges 3.4% of the total amount and €0.35 per transaction!!! Bitcoin allows me to send any amount for just $0.04 and even lower.

Paypal fees are a lot higher than Bitcoin transaction feess

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.

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

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.

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.

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.

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.

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.

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.

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.

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

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 $.

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.

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.

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.

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.

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

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.

of course paypal has higher fees than bitcoin, thats the main thing why i actually like bitcoin

Not exactly true as PayPal is recognized by the government and it allows bank withdrawals for most countries while bitcoins dont have such an option (leaving alone coinbase that allows US bank withdrawals only).
If we take into account bitcoin debit cards, the fee is higher than PayPal which make them almost the same but I do agree that bitcoins are worth more and it's easier to send and receive them.

It is not about exchanging the bitcoins to fiat but the fees required for the transaction of yours.I think 0.0005 is nothing when you are sending/receiving huge sum of btc and it might be a lot when the same amount of money is sent via PayPal cause it will be some percent of the amount being sent (depending on many other factors) where as it is completely dependent on the user for Bitcoin transactions.

Paypal, i thinks takes more transaction fees. Paypal is using more than bitcoin wallets !

Paypal takes more, but it also refunds your money if you are scammed.

Paypal charges nearly 3% for transactions if individual send money to individual.  If you were using eBay to sell/buying an item and had to take Paypal as payment, you also lost 9% of your amount to a final value fee.Paypal charges additional fees if currency conversion needs to take place, which usually happens in international transfers. So use bitcoin if you want to pay less fee, bitcoin fee is much lesser.

Really? PayPal charges currency convertion? I didn't know that...

Anyway btc is much better than PayPal on any aspect that's for sure.

Paypal charges 4% on most transactions. Bitcoin just 0.0001/ 0.0002, so here clearly bitcon is the winner. Also bitcoin is freedom where paypal is a private company whom you should trust with your assets.

I guess it's 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!

Of course Bitcoin is the cheaper one, you can even send a transaction without any fee with Bitcoin.

Untrue and false information. There is always a fee when sending BTC p2p, it is small but it is there. It could be even higher when your BTC is composed from dust transactions.
But in contrary users PayPal to PayPal transactions are actually totally free - and you don't pay anything while buying from merchants - it is merchant who pays the fee.

yeah that is true. special of paypal is protection to buyer or something like that, if you account get hacked and your money stolen, you can refund it. if you have evidence that your account has been compromised

Bitcoin is cheaper than paypal in transaction fees.

Paypal protects its users if got scammed tho.

Who and when did this happen? I've mostly seen the victims losing their money and the scammers earns his money back with chargebacks. I've been using PayPal since 5 years and still I say that it is the least secure payment processor due to their chargeback policy.
Their fee is also very high and hence bitcoins are considered the safest option for users who don't want to get scammed and most don't deal with PayPal unless the buyer is trusted.

Your information is also not completly true.PayPal does deduct fee if sender sends money using his credit card.It is free only if sender uses his PayPal balance or upload funds from bank account in which case PayPal deduct conversion fee.
" It's always free to send money to
friends and family when you use your
PayPal balance or bank account. Fees
apply only if the sender uses a credit
or debit card, or if you receive any
payment for goods or services. There
are also:
https://www.paypal.com/pt/cgi-bin/webscr?cmd=_display-receiving-fees-outside

Neither. I've never paid a transaction fee on either so you must be occupying some higher transaction fees I suppose.

Are you saying that information given on PayPal official website is false?You must be someone special for being exemption

you can use free cost transaction with paypal. if you choose pay service options in sending money

Fees on paypal is more more high and ridiculous and fee on bitcoins is quite small though than paypal. And i prefer using bitcoin for transaction than paypal.

yeah true. whatever amount bitcoin you send. costs remain the same fee 0.0001, different with paypal more expensive

That is the main benefit of Paypal. I use paypal to pay for goods. It makes me feel safe, will not be scammed.

Every payment processor charges 3-4% currency conversion fee as they are also charged for the same. It may be an online payment processor or a bank in that respect and none convert for free.

Paypal/creditcard gives some fraud protection, which is part of the fee. If you divide the total bitcoin fraud by the total bitcoin transaction volume, you get a much higher "fee".

I'm actuaoly not all that certain. I think they're both the same. Doesn't matter which one you use.

Obviously bitcoins fees is lower and paypal fees is higher . Paypal can also reverse your money if you are scammed by someone and paypal have high security that is why it costs more fees than bitcoin .

Paypal's fee is higher than bitcoin, but almost every site on the web support Paypal and bitcoin as payment system, both of type, shopping sites and earning sites. But, obviously bitcoin has better advantages than paypal.

Yes almost every earning and shopping sites support bitcoin as well as paypal. But it doesn't mean both are equal, Bitcoin transactions charges are better than paypal and becoming more popular every day. I hope bitcoin is going to replace Paypal.

Paypal is not only insanely expensive, but offers no decentralization whatsoever, which would justify increased fee. On-chain transactions on Bitcoin are cheap as hell compared to everything else (that's why people complaining about small block size because its "too expensive" are clowns) and when we have LN, there will be 0 competition against Bitcoin because it will be the best way to move money fast and cheap period.

First of all, on bitcoin you can decide witch fee you want to pay (or if you want to send without any fee) , on paypal you can't decide this the fees are fixed. And normal fees that most users pay are from 10.000 to 20.000 satoshis is lower than paypal fees.

For the time being, the fee of bitcoin is much lower than the paypal. But if the bitcoin block size does not increase, the fee will be higher.

almost every site, I don't think more than 2% of the sites accept it.

Why should it ? both have their own uses and purposes.

Why would it be ? there is no increase in block size going on right now but the fees could be as low as 0.0001.It depends on the number input's and outputs involved in the transaction and there should be no sudden increase in the fees in any case.

Yes there is an option. When paypal is considered it has got the return back policy which is best for the extra price you pay than the bitcoin transaction charge.

paypal fees are higher, damn bitcoin is like 5000 satoshi minimum for reasonable speed of 1-2 hours.

Thats like few cents

Bitcoin's conversion fee is even higher as people charge 8% minimum to convert into fiat on LBC and hence both are the same at the end. But in time, when we do not need to convert bitcoin into fiats, bitcoin will have very less to no fees. :)

It all depends on who your sending it to, your country of residence and whether you're using the gift option. BTC should be cheaper for large transactions.

The transaction fee of PayPal is "0" if we choose "Gift" option while bitcoins also have a "0" transaction fee when we use wallets like Xapo and Coinbase. If this doesn't answer your query and you are talking about converting bitcoin to PayPal cash and vice versa, that depends on whom are you exchanging with and how can they send you PP or bitcoins.

Yeah bitcoin is expensive if you are converting it to your local currency, but the scenario would change in future when would be able to make direct purchase by using bitcoins.

i think paypal has way more bigger fees than bitcoin, thats why i like bitcoin, they are free to use

Paypal fee, of course is much higher than Bit coins and using bitcoin is very convenient when we see it is very affordable and mind is blown away when we pay through this.

based on uk prices

bitcoin to bitcoin transactions are about 8 pence right now
paypal to paypal transactions are free

bitcoin to bitpay are 1%
paypal to ebay are 3.4%+20p

moving from a bank account to bitcoin usually involves a spread of upto 4%
moving…

When it comes to online remittances bitcoin is the best, but I still have a feeling that Paypal is a better option when it comes to online shopping, both have its advantages  and disadvantages.

Bitcoin has about a 3 us cent flat fee. PayPal to PayPal is free, but in most cases it's more expensive, like to eBay, Amazon, etc.

We got PP down to 2%, but it is still higher than most network fees.  When the fees add up is transferring from one wallet to another and then buying a different coin and then transferring back to the other wallet or another third location, all that to make a few coins along the way.  That is when I see the network fees adding up.  We stake a lot of Clams to a few sites and those can be a real pain to make happen.  It can take three different online wallets and a cold storage just to make a few BTC into Clams.  Shapeshift is a great help, but in the end their fees are about the same.  The problem with Clams is they can take forever to get confirmed in one place or another.

Bitcoins  transaction fees is very very less compared to any exchange fees or paypal thats the best part of bitcoins people are loving it.

It would be better if the Bitcoin is circulating between supplier, retailer and consumer. There is no need to go through the exchanges.

Bitcoin are way way better than paypal. That's from a consumer side, if you wanna sending cash to a friend or family in the same country, yeah paypal is the way to go, because its free, but Paypal fees are much higher if you wanna send your money to your friends in another country, and the good news is bitcoin more safety than paypal.  ::)

paypal have more and higher transaction fee,everybody knew it,some people post the proof on this forum. and i'm sure,if paypal user know about bitcoin,they will consider to replace their payment method.

Yes, bitcoin is good than paypal in not only with transaction fees, bitcoin has a good security, privacy than paypal, we can transfer bitcoin every where easily. But paypal is not available in many countries still.

hey I think you have to pay a fee. if you send money to pay for items or goods. even if you send money paypal to a paypal . you will still be charged. better use bitcoin

Neh, Paypal to paypal sent as gift is free of charge(fee) for United States' citizens, I'd guess.

I think so. It just cost a lot of fees when you are a seller of a goods. The paypal charges you a lot.

if you use paypal. and choose the option payment for services. you can. free of charge. but it is sometimes free and sometimes pay. I did not know how the fee calculation. but if you send a lot of money, the cost of the fee will be more expensive. different with bitcoin. whatever you send. you are only charged the 0.0001 btc

Yes very right paypal fees is too much, The transactions to family and friends, it is all equally charged in BTC transactions.
I future, we can expect fees free transaction with bitcoins, but never it is possible with Paypal.

paypal users already know about bitcoin. but they still use paypal. because they think the paypal is more reliable than bitcoin, there are many reasons for that. cost fee charges will not make users turn of paypal

I think Paypal since bitcoin is an anonymity kind of Currency but I think it depends on the site.. Sometimes site gives less fees on Paypal and sometimes on bitcoin..

I think if btc fly to 10k $ then surely fees will be nothing than Paypal's fees. We all know Bitcoin is much better and safer than Paypal not for just now but since ages.

i think bitcoin has less trx fees than paypal.

bitcoin is much lower fee than paypal.

For the time being, Bitcoin transaction is much cheaper than the Paypal. If the block size increases, it could be even cheaper.

yeah bitcoin transaction fees is very less compared to paypal and its the fastest one.