Bitcoin Forum

Sure, paypal is the big kid on the block right now, but who's to say they won't start accepting bitcoin as one of many international currencies?

(Edit: I just added "after 5 years" and "never" as additional poll choices.)

I won't try to predict when, if ever, they might do so, but I do think it's entirely possible they will if the market becomes big enough. There's been some sentiment here that Bitcoin is a direct competitor of Paypal, but I don't think that's really the case. Paypal is in the business of making it easier for people to send money to other people. Bitcoin does that too, to an extent, but as we've seen, keeping your wallet secure is a big task for many users, and if PayPal were to offer an Bitcoin wallet service, they could get a lot of users for that. Whether people would be willing to pay enough for the service for them to want to consider it is a different matter, but really I think PayPal would be just like any other on-line wallet service, only huge.

PayPal and Bitcoin aren't mutually exclusive at all, in one area that's pretty important for many buyers and sellers alike: Bitcoin is irreversible and that can be a big plus, but there are a lot of people who only use PayPal or similar when buying stuff because they want to be able to protect themselves. There are a lot of solutions to the problem -- reversible transactions is simply one. PayPal, Visa, and so forth, they take a cut in exchange for some measure of protection: Visa, for example, protects buyers from fraudulent merchants AND protects merchants from the loss when someone fraudulently makes a purchase with someone else's money. While there are a lot of people who would choose to have a no-fee transaction on both sides, and there are some people who would prefer things to be irreversible... Honestly, I've been burned enough times that the reality is the only way I'd ever use Bitcoins for a majority of my larger purchases is if I have a way of recovering my funds when a merchant rips me off. At the moment I often jump through a shitload of hoops to transfer everything I have into a specific bank account I have, just so that I have that bank's Visa fraud department to call if I have a problem with the purchase.

And that would simply be another case of free market offering multiple approaches, and individual consumers (in this case, both end-purchasers and merchants) can choose what they want.

Simple, their TOS forbids currency changing so you cant buy BTC using paypal on exchanges.

HOWEVER..this is a way around it, and if you work closely with paypal, you can get it done

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paypal will never accept bitcoin

They'll accept it the picosecond they think that they'll make more money if they do than they will if they don't. They'll be supporters of Bitcoin instantly if they conclude there's more profit to be had by supporting it than attempting to interfere with it. Whether they'll ever actually conclude that is the variable, but they're a corporation, they'll always do what they think will put the most money in their executives' pockets.

It's never easy to predict what paypal will do. But i guess for bitcoin to have a chance to get accepted by paypal, and idea would be to do what Linden Lab does, stop calling the currency a currency, and just call it a "token" or "a license right to exchange services and goods against".

The difference is that bitcoin is no centralized entity, everyone can call it what they want. Most people already seem to call it a commodity...

+1.


+1.


+1.  :)  You hit the nail on the head, my friend!


Actually I wasn't referring to having PayPal allow users to exchange bitcoin for other currencies, but rather have PayPal accept bitcoin as one of their many payment options.

Exactly.  The exact same reasoning applies to Visa, MasterCard, Discover, and American Express too.

The questions are "Who will jump first?"  and "When?".  PayPal seems very slightly more likely than the credit card companies to jump in first.  But no idea when.  Could still be years away.

2018 and still no sign paypal will accept bitcoins

I think that to the extent that the acceptance of cryptocurrencies is very broad and there are more companies in charge of international transfers based on the use of cryptocurrencies, then companies like PayPal will have to accept them and in fact, they will lose a good portion of the market.

I do not think that gonna ever happen before BTC get fully regulated in the US, also the chance of Amazon accept BTC is higher than Paypal do. BTC is a threat to Paypal or at least some kind of threat. BTC is created to stop the centralized payment options like Paypal even we all know that BTC draft far away from this purpose but still that is its core value. My opinion is that it is not gonna happen ever or at least not anytime soon.

Why would they?
Paypal will loose a lot of revenue if they start accepting Bitcoin. They cannot charge such a hefty 3 percent for Fiat conversion as people would prefer alternate option.

There are many startups that are already working on products like paypal using Cryptocurrency. By next year you might be using their services at Amazon or other online retailers. Why would then Paypal enter such a competetive market?

My answer is never.
 

My opinion: paypal never accept Bitcoin. This is different system.
Paypal centralized and have fiat money/bank system.

this topic was started back in 2011! stop answering it as if it was asked yesterday!

it is interesting to see many have voted "5 years" which is now 7 years gone by and PayPal has not only not started accepting bitcoin but most probably will soon start thinking about creating their own token :D

PayPal is functioning as a global online payments system and they have strong partnerships in place with Banks, because they charge transaction fees of 2.9% + $0.30 when money comes from credit cards. Why would they ever want to add a funding payment option with almost zero fees and give competition to Banks?

People just need to accept that PayPal will never assist Bitcoin to take even more of their market share.  ::) They also do not need to create their own token, because they have a functional payment network.  ::)

I think it might happen in 5 years, if not then it will never be the true. If so, the market capitalization will raise up for sure and many of us can make profit.

And by looking at the results, most of the votes were casted to "never" and it really looks like they aren't going to accept and adopt bitcoin.

Likewise those people who said it 7 years ago that it shall be 5 more years before paypal would start accepting bitcoin but look until now they don't even have anything to say with this. I guess we just have to let it go and accept the fact that PayPal is still preferred by most of the people that doesn't want to embrace bitcoin and its management will never look into the possibility that they'll integrate their payment processor with bitcoin.

Nothing is impossible to I see no reason why paypal will start accepting bitcoin. bitcoin to me seem like a rival and beside paypal have a very tough and strict rule when it comes to usage. As of today paypal has not implement the usage of their services in some country due to history of internet fraud and scam. if bitcoin is going to be accepted bt paypal it means they will need to abolish all their rules because bitcoin is available for everyone in the world to use without any restriction.

I think it will happen that paypal will accept bitcoin but now we have no exact date what will it gonna happen bitcoin is getting bigger now and its not a big barriers to accept bitcoin in the future.

its hard to predict the exact date but i assume its near once the etf be approved itll create a domino effect were financial institution will get in, and that tweet of elon about bitcoin is a signal, and elon is one of the founder of paypal so i think its coming.

Yes, I think the same. Both sides (Paypal y Bitcoin) will get advantages.

I won't guess as it could happen, it could never happen, depends on Paypal policies. But why would we want paypal to process Bitcoin payments? anyone can send or receive Bitcoins directly!

I'm not sure about this, because we know the value of bitcoin can change at any time. this is the factor that becomes the problem. and if PayPal accepts it in other words Amazon first accepts bitcoin in every shopping transaction.

for many reasons , i dont think paypal will accept bitcoin . and if BTC kept growing more and more . paypal wont be able to resist for the next couple years ( same thing to the other online banks). customers wont accept paying high transaction fees for a transaction that takes couple days .

I'm a little confused by this statement. I also think Paypal can accept bitcoin later, because paypal is not a local bank located in every country, paypal will still benefit from this, they only serve transactions every year. But I am a little doubtful about that

Hey PayPal will never accept bitcoins, if you're not aware PayPal has something called chargebacks which means a buyer can ask for his money back, and seller is helpless and has to comply. On the other hand bitcoins transactions are irreversible, besides that PayPal complies with each and every central bank rules hence they'll never risk their services by accepting bitcoins.

There're several platform where you can exchange your Paypal to BTC or BTC to Paypal easily.

Never Paypal will accept Bitcoin (or any crypto). Bitcoin is like a direct competitor. Also who would use BTC with Paypal and make the fees 10 times higher. Better to use Bitcoin directly right?

Although Bitcoin and Paypal are sometimes perceived as competitors, I don't think Paypal cares about Bitcoin. Comparing volumes of payments, Bitcoin is still used by an enthusiast fraction of people who decide to pay online. However, there is a possible window of opportunity for a company that makes a bridge between crypto and Paypal.

I won't say never because we really don't know how the future economies going to be evolved and what role bitcoin will play in that! Also I don't have a timeline either because paypal is running a very complex business model. They have to comply with the local laws of every country they are operating in. So it's hard to say how long it will take to see a standerdized regulation around cryptos.

But it all depends on the legislative framework. Like in Japan l, bitcoin is legal. So paypal probably add crypto support for Japan but not in other countries where bitcoin is banned. The clearer regulation we will see, the morr prominent chance we will see for paypal to accept bitcoin.

But there could be a time wherein Paypal will have to concede and will have no other choice but to accept bitcoin it they wanted to live and survive in this cut throat business.

Anyways, if they are wise enough, maybe down 5 years from now, they're going to accept bitcoin or any other crypto for that matter, whether they like it or not as crypto.

That is what I doubt. Choosing a good cryptocurrency payment gateway cost the merchant 0.5% to 1%. Paypal now costs approximately 2.5% on fees from the merchant's perspective. It would be unreasonable for Paypal to compete in such a low margin environment. 

The good news is that Paypal already allows their merchant since the beginning of this year, 2018. “A merchant can typically open a standard PayPal account and begin accepting payments through PayPal within a few minutes. Most online or mobile merchants can onboard quickly and are not required to invest in new or specialized hardware. Our Payments Platform supports growth with a variety of value-added services designed to help businesses of all sizes manage their cash flow, invoice clients, pay bills, and reduce the need for merchants to receive and store sensitive customer financial information. For our standard service, we do not charge merchants setup or recurring fees. A merchant can also integrate with Braintree to begin accepting payments with credit or debit cards, PayPal, Venmo, digital currencies such as Bitcoin, or other payment solutions with a single integration.”

From PayPal now allows its merchants to accept Bitcoin
https://99bitcoins.com/paypal-now-allows-its-merchants-to-accept-bitcoin/

I think that PayPal will add Bitcoin payment only when Bitcoin is legally equated to other fiat currencies. And for PayPal, this step will be very successful, as it will add users to this service. PayPal and Bitcoin are all different payment directions. They will not compete with each other. PayPal is usually chosen by those people who want to insure themselves when buying something, while Bitcoin acts like any other fiat currency, only global.

Why? I think it's a great business opportunity to PayPal as they already has many users.

It will take more than 5 years before Paypal accept bitcoin because Paypal is directly competitor of Bitcoin in terms of payment not only offshore but also in local payment. If Bitcoin is already more than 50% adopted all over the world, maybe PayPal will accept it.

I don't think you need to guess when PayPal will start accepting bitcoins. Personally, it's their decisions and actions, you can just wait. But I do not see a great prospect in this as Bitcoins can be withdrawn through a visa or MasterCard and stored on the exchange or purse !

It's quite difficult to predict that when PayPal will accept bitcoin actually depends on both mutual agreements. Nobody can predict the exact time but I think it is going to be very soon as Bitcoin adopters increasing day by day at the same its transaction also increasing rapidly so let's see what happen.

Personally, I can imagine PayPal very soon will start to accept bitcoin. Since bitcoin users increasing tremendously at the same time transaction and exchanges expanding regularly. So I think bitcoin will be accepted by PayPal very soon.

I don't think PayPal will ever integrate Bitcoin as one of their payment system because PayPal has lots of policy that I don't think will go with Bitcoin

I really have doubts about it. How will a competitor going to accepts it? Although Paypal has been threatened ever since with bitcoin and crypto's emergence, they won't simply just joined forces with their competition because they're still making money.

The only way the Paypal will going to accept it is that authorities put pressure on them, but I don't see it happening whatsoever. It took them years to established their business models and work with several banks globally, so its not going to be easy for them to just go and accept bitcoin, in my opinion.

I think, it is going to be in a short term as number of Bitcoin adopters and supportes keeps increasing at this rate. If Pay Pal does not start to accept bitcoin, it is going to be defeated by incresing numbers of users of bitcoin. But at first, they need to a legal basis to implement it in certain countries.

I think the only way PayPal would ever consider using Bitcoin is if became a direction which would lead to higher profits, or prevent lower profits. It's impossible to say if or when that will happen but I'd like to see it as an option in the future.

To maintain the existence of Paypal, I think, now that the world of Paypal accepts bitcoin transactions, Paypal's decision to accept bitcoin transactions is the best choice to serve every consumer.

and PayPal will take transaction fees, but it's cheaper than a credit card.

I do not use paypal because I knew it does not like cryptocurrency.  I am a pro coins.ph user and I like to say that it is a good wallet than any other. I currently using it in transacting with my gas, load and bills. It is okay for me that paypal never accept cryptocurrency because there are wallets that I can use so that, I can cash out my BTC.

The only useful implementation for Bitcoin and other crypto currencies is to have it function as an alternative option for users top up their balances. The rest isn't of importance to them.

PayPal transactions happen within their ecosystem which are instant already, which means that there is nothing to gain here. It's a service focusing on commercial payments offering buyers zero fee transactions.

If crypto becomes too dominant they could simply choose to lower their fees as a way to compete, and I'm sure it will work out for them. Another thing is that PayPal could easily launch its own PayPal dollar stablecoin.

Paypal treats crypto currency as a threat to their services. If they will promote of accepting Bitcoin. People unaware of Bitcoin will simply switch to send funds using Bitcoin to Bitcoin instead of using Bitcoin to Paypal with a lot of higher fees.

From my point of view, paypal will never accept bitcoin even now or in the future.

I dislike PayPal and never try for joining PayPal again, I have tired for many cases with PayPal where many time my account was limited and suspend by PayPal team, I am not agree if bitcoin and PayPal is working together.

As for the development of cryptocurrency and bitcoin, paypal is a very safe wallet and bitcoin wants to collaborate with it but the questions how and when this be possible? For me, i think this would be possible within the next couple years, maybe now paypal are planning to accept bitcoin in the near future and also they will see what's the cryptocurrency brings good benefits to paypal.

I think bitcoin is not need paypal to make transaction.
Bitcoin can take down paypal and people are starting to realize that.
For me, the best payment system is bitcoin but only the price spikes and more hacks that make people still afraid using it

In the next 5 years, bitcoin would have been widely accepted and being used in more day to day basis. PayPal will have no choice but to key in to the new payment pattern.

I do not think Paypal will accept bitcoin. The existence and development of bitcoin is a threat to the development of Paypal. I think when electronic money became popular and widely accepted, bitcoin would be able to replace Paypal.

I think that this will happen in the nearest future. To my mind, it will be great if paypal will accept btc because it has a lot of great benefits. To my mind, it will be really wonderful for users of this system

I don't know, and I will only waiting for this although I don't use Paypal anymore since I know bitcoin ;D Maybe it will happen in the next year or the next two years. I am sure that Paypal will learn about bitcoin and if they can get more benefits from bitcoin, then I am sure that they will integrate their system with the blockchain technology.

I think pay pal no need to accept bitcoin bitcoin is the new virtual currency which has it's own importance and for this blockchain technology is enough and people are accepting then there is no need for the pay pal or crypto to be used for one another and still crypto is very useful.

paypal if it is true that it can accept payment with bitcoin is a good thing, but I feel it will still run for some time. maybe 2-3 years or more it cannot be predicted when the time is right.

Either Paypal may start their own coin all else accept bitcoin or another cryptocurrency as per current developments in payment system space

Clearly never lol. They're big haters and will simply get overrun by the new economy. Seeeeeee yaaa

It won't accept bitcoin as of now but no one can predict future maybe it will when bitcoin is one of the leading currency.

I think paypal will not be accepting Bitcoin for now but maybe it in the near future they will after Bitcoin is used by many users.

I think Paypal will never accept bitcoin because paypal operate in a centralized system while bitcoin is decentralized. Many people prefer paypal transaction because of the guarantee of getting their funds back once the business is unsuccessful so putting bitcoin to use might drastically reduced their customers. That's my opinion .

I do not have any idea of ​how long PayPal will accept Bitcoin as a currency on their platform. You can see that PayPal is the anti-money laundering platform in the world, with transactions showing signs of money laundering blocked by PayPal, so Bitcoin can not control it. PayPal is hardly able to control Bitcoin, so this may never be possible.

I guess PayPal will only accept bitcoin when cryptocurrency is fully legalized or approved by government because PayPal still look at bitcoin as illegal currency and secondly PayPal operate in a centralized platform why bitcoin is in decentralized platform it will really take a long time before this can happen.

even now PayPal has not dared to accept BTC as a payment tool that is simpler than USD, big companies have not dared to take risks because of the safety of its users
if they lose the trust of their users, they will lose their users, that's a serious risk
whereas we know, that cryptocurrency's economic volume compared to fiat currencies is still far behind

No, they ar enot gonna do it.
They are extremely over sensitive on everytihng remotley unregulated, the block accouns left and right . I have experienced some trully crazy shit with them. Recently red info from ex paypal employee about what a mess their company actually is and it explains a lot.

In anycase paypal is going under with their bad managment and thier Ebay deal expiring in a year and two. BTW Ebay is not going to continue with paypal, at least nor exslusively.

I think that this will happen in the next two years on the next pump of bitcoin and the entire market

You can already hold a USD wallet worth of funds on PayPal so it would be logical to be able to hold and send cryptocurrency as well. Storage of value coins such as Bitcoin, Bitcoin Cash, Bitcoin Gold, and Litecoin are good places to start in my opinion.

If you want the reverse, however, you can purchase Bitcoin with PayPal on a whim. There are many exchanges (https://www.smartbitcoininvestments.com/how-to-buy-bitcoins-online/) which allow you to do that.

I really hope they start accepting bitcoin like very soon, it's going to be a very big achievement for the crypto world, and for me it's gonna be a dream come true

A lot of games that accept paypal to buy gems and chips. I want to buy some gems in my game but I never gonna buy because all my money is in cryptocurrency and I don't have credit cards. If paypal accept cryptocurrency specially, bitcoin it is easy for me to buy gems and chips. Hopefully soon, paypal will accept cryptocurrency so that, I can try that wallet too.