Bitcoin Forum

Okay paypal emailed me an offer to buy BTC.

I checked it out it is legit I purchased some.

 20 usd worth of it, to be exact

https://i.imgur.com/IF5xrM4.png

https://i.imgur.com/toHreem.png

Vote

 give reasons for buying 20 bucks
give reasons for not buying .

let us know if you can or must wait.

   I am in NJ, USA

 I did it very quickly. Note it is an old well established PayPal account that I used.

Yes I know your keys your funds.
I do not plan to keep a lot of BTC in this account.

Maybe, I don't really know for sure I have some money in Paypal but I don't know if it would be worth it or not,
I don't know how much would be the fee for transaction in Paypal so if it would be high I would rather buy on exchange or directly at my mobile wallet.
But it could be good for those who doesn't know how to purchase at exchange/trading sites.

Is there a transaction fee? I notice that they display value in fiat with BTC amount. What exchange rate they are using to determine the value of BTC?

This is a good feature for PayPal since I will not convert anymore my PayPal to BTC via P2P with smaller rate. I wonder if this feature is available on all currency like in my case in PHP or I will need convert first into USD then buy BTC. Anyways I will it later and thanks for the update.  :)


EDIT:

It's not available on my PayPal. I believe its for a selected customer for now. But I will definitely buy BTC using my PayPal balance.

You are not buying BTC on PayPal, you are buying a virtual BTC that you can only hodl or sell on their platform. The answer is easily no, I would rather use a proper exchange, especially since I have access to non-KYC exchanges, and withdraw coins to my wallet asap and be safe. Maybe this opportunity from PayPal will be more interesting for complete beginners or people who haven't tried crypto yet.

yeah I certainly don’t plan on large sums purchased on paypal in my case.

But if BTC is to go mainstream players with a paypal account can help it out.

To hodl 20-100 usd is fine for a paypal account. The way it is structured at the moment it is designed for hodl.

So I am going to do that with 20-100 usd purchased. over the next few months.


Btw I rather have paypal hold my kyc info since it has had it for 17 years.

I'm an active user of PayPal, but I haven't received an email about it. Probably it's because of the region that I am from. Maybe soon? If ever I get the opportunity to buy BTC within the PayPal app, I would try to get some. Just to experience and let others know that it's possible now. More and more people are getting into cryptocurrency daily, and with PayPal supporting it, it's worth celebrating IMO.

I just voted 'Maybe' and 'I will wait and see'. Actually, it depends. I have a few options in terms of buying BTC so I wouldn't say I would particularly choose Paypal over others. I normally use a local exchange when I convert from my local fiat to BTC and vice versa. I could get a better price deal this way.   

But, of course, I consider this a very huge welcome development considering that Paypal has hundreds of millions of users and tens of millions of sellers accepting Paypal around the world.

The more interesting aspect of this development, however, is when Paypal allows its users to actually pay in Bitcoin itself in their purchases. This is gonna happen next year. We'll see how it pans out in terms of Bitcoin spending considering that it involves this giant international payment system.

No. It seems they won't allow you to withdraw to your hard wallet:

"there was also concern that the new service does not allow bitcoin or other cryptocurrencies to be withdrawn or deposited. Once you buy the coins, they stay in your account until you sell."

Source: "Baby Steps or Handcuffs? Crypto Pros Assess PayPal’s Bitcoin Play (https://www.coindesk.com/baby-steps-or-handcuffs-crypto-pros-assess-paypals-bitcoin-play)"

Not your keys, not your bitcoin. It will be KYC. So, no, no, no.

It will help mass adoption, though, and will help the price to go up (it seems it's doing it already).

I mean, why would I personally buy it through PayPal though. Most of us here are decently technologically literate so there's no reason for most of us to buy through PayPal, also taking note that we currently can't withdraw the coins out of PayPal.

Leave buying bitcoin on PayPal for the oldies. Thanks for showing us your buying experience tho.

First of all, thank you for sharing your experience. I have voted Maybe and I will wait and see.
I would be interested to know if we can withdraw the Bitcoin that we buy. For active Paypal users the news could be very positive, they could easily buy Bitcoin and we earn more Bitcoiners for our community. Although I am pleased with the news, I am already used to handling my Bitcoin, I have no interest in changing.

I am not a user of Paypal but I think I will wait and see first before buying bitcoins from that platform. I will wait for good feedbacks and how paypal is better and different from other sites where I can buy bitcoins and any other cryptocurrency.  Actually, Paypal accepting bitcoin is one of the good news 2020 has brought to us but ofcourse I should study first how it works and consider all the things that should be considered such as fees, process, etc.

I voted Maybe.

But I feel that it does not feel better for me to use Paypal to buy bitcoin from my Paypal account. I still prefer to use the usual exchanges. Perhaps, I will check on my Paypal account to see if I got that email like you or I don't get it.

Paypal gives their member a chance to buy bitcoin from their account, which can help crypto grow as we know that Paypal has a large customer from many countries. So if Paypal can send an email to all of their members, I think they can know about crypto, and they will try as what @philipma1957 did.

Perhaps, holding $100-$500 in the Paypal account would not be a problem as long as Paypal can still protect their members, so we don't have to afraid of the hackers that want to breaks our account.

I am residing in India and therefore I don't think that PayPal will offer this option to me. For now, it seems to be limited so selected users within the United States. But overall, this is great news for cryptocurrency users (as can be seen from the sudden jump in Bitcoin exchange rates). For less tech savvy people, purchasing cryptocurrency from PayPal is going to be much easier than going through all the pesky KYC process associated with various exchanges. I am willing to give it a try (if they ever offer it to the Indians), but I guess I have better options available (as Poker Player posted, PayPal seems to be imposing certain restrictions).

The integration seems to be gradual.

In its current form, this doesn't look good at all, especially to those who are already familiar with Bitcoin and its basic philosophies. Paypal appears no more than an exchange platform, a worse kind at that. But it seems Paypal is very much aware that crypto understanding is still too shallow among the great majority of its users at this particular stage so they kind of need to instill hardcore yet very weird protection or security mechanisms.  

I don't think Paypal will keep it this way for long, though.

I'm pretty satisfied with buying mine from exchanges, and it seems like it's not really Bitcoin you're buying like what @hatshepsut93 said. If they were to implement a real exchange somehow, even if it's solely for Bitcoin, then I might buy some. Set mine to I'll wait and see. Also if you were to look at their announcement, it seems like only US users, for now, have the chance to buy crypto through them. I might wait and see if they'll adopt a change into it once they make it an international feature, but till then, I can only wait.


Source: https://newsroom.paypal-corp.com/2020-10-21-PayPal-Launches-New-Service-Enabling-Users-to-Buy-Hold-and-Sell-Cryptocurrency?sf130849673=1 (https://newsroom.paypal-corp.com/2020-10-21-PayPal-Launches-New-Service-Enabling-Users-to-Buy-Hold-and-Sell-Cryptocurrency?sf130849673=1)

a great option, by not buying large amounts of BTC. We know that PayPal has just launched this feature, and there are no reviews that we can use as a reference regarding the advantages, disadvantages of using this service from paypal ....
BTW ... I don't see the transaction hash, is this transaction not via the Blockchain?

This is such good news for everyone, it seems like cryptocurrency is now being prominent all over the world because there is a local wallet that opens to accept cryptocurrency, we may now buy and sell cryptocurrency using PayPal. As of now, the only bitcoin is available but they are planning to add some cryptocurrency such as Ethereum, Litecoin, and Bitcoin Cash (a spin-off from Bitcoin) and all of it will be stored in the digital wallet(PayPal).


I think this PayPal wallet account would be so great, hoping that there would be many improvements that could happen in the future.

We can buy bitcoin using eToro, LocalBitcoins, xCoins, and Paxful, among these 4 methods I prefer using the eToro on which it has little amount of transaction fees.

PayPal isn't a trustworthy organisation, I have lost over $700 worth of PayPal fund in 2018 reason best known to them, they just locked the account for no good reason. Imagine holding over 3 Bitcoin in the PayPal account and my account gets locked for no reason. I have access to reputable CEXs I can purchase bitcoin or any other cryptocurrency from easily so, buying from PayPal still remains no for me.

What makes you believe so? It seems even payments will be settled in fiat:


If they're actually planning to go this route, there won't be any movements in the blockchain; they give you an IOU you can play with, and since it doesn't seem like they even give you a BTC address, it might be designed to stay that way. Neither you nor the merchant will ever touch any actual BTC.

I mean, I guess it's kind of smart since it appeals to people who only want to hold BTC for its price movements, letting them speculate and spend with negligible fees. If I were a casual, I would absolutely gobble this up.

I feel a bit conflicted because on one hand, it has essentially nothing to do with Bitcoin, and could even harm real adoption in the long run. On the other hand, it's huge for establishing Bitcoin as a legitimate asset class.

Good news and make bitcoin reach higher price after PayPal announcing they have partner with cryptocurrency and their member could buy and sell bitcoin using PayPal, I glad with this information because can make bitcoin touch to higher price and will have many investor buy bitcoin and altcoin during paypal announcement. How ever I still frustrated with PayPal because I lost much money there because my PayPal account is limit permanent and I can't withdraw my assets there, have bad rule if not understand how paypal working. Some time when you receiving money through PayPal could take back with dispute way, be careful using PayPal as your currency payment when sending or receiving money.

No, because I have other better way options on buying bitcoin here in our place. I am alreadt comfortable to it and will not look for other ways thinking that it could be better.

There are many ways to buy bitcoin and paypal is already in it for those who wanted to make a decentralized transaction buying bitcoin not involving exchanges. Yet, there are lots of challenges and problems encountered in this kind of transaction and that is some of its users are making fraud using paypal.

I left paypal for almost 10 years now as i found a better alternative which it's bitcoin .

Guess they are supported bitcoin and should i back to paypal? My answer is a big no ( at least for now ) as i and everyone else can see it's just a virtual bitcoin that you can't trade/exchange except for there in their platform.
They are jumps into bitcoin business all of sudden, i can't really sure if this part of the mass adoption progress considering there's a lot of paypal user that now will introduced to bitcoin.
Not for now but we'll see.

Basically, Paypal is another one of those third-party wallet app that has it's own exchange, so nope. It'll probably appeal more to first world countries, but in the Philippines, we already have that kind of wallet that is more convenient.

I don't really trust Paypal since they are notorious for freezing accounts without any noticed. They'll probably question where your Bitcoin came from and it's going to be an inconvenience in my opinion.

Who do you think will be the next big company to start accepting Bitcoin and Crypto payments? Btw you can trade your BTC at SnapEx today!

I did not know that it was just a gimmick considering all the hype after the news came out and there are a few articles that linked the market rally to the Paypal news and if you are not able to withdraw the coins then what is the point in purchasing as even a complete beginners will be confused with the use case of bitcoin if they are introduced to bitcoin by Paypal is not that great and i doubt anyone will use it as a stand alone trading platform and that too it is not the best user interface.

No. Crypto purchases there are only virtual, against their own ledger (not the hardware device), that allows them to keep track of your balance. You have to trust that that balance is indeed backed by real underlying crypto purchases, which I figure should and will be regularly audited.
Read their FAQs to understand part of what's under the purchasing hood: https://www.paypal.com/us/smarthelp/article/cryptocurrency-on-paypal-faq-faq4398?app=searchAutoComplete

As to whether I will buy BTC on Paypal, perhaps a very small sum just to try it out (or perhaps not at all, to avoid another point of control over one’s crypto assets).

More importantly though, I do believe that it will make it easier for regular (PayPal) users to purchase of Bitcoin, and even though it will be based on a pseudo-illusion of tenancy, I’m pretty sure many people are happy to purchase some amount, with just a few clicks further from their current habits on a known (to them) environment.

As much that this is a key factor for Bitcoin's price pump right now, I am kinda "stalemate" mode for purchasing crypto in Paypal. I still don't forget about the Paypal horrors regarding the account freezes, etc. The thing is, once you've got some crypto there, it's in their custody and not ours. It means, we don't own it, because Paypal can control the funds that we have on our accounts.

I'm a Paypal user since early 2009 during my days as a home-based virtual assistant to various internet marketing companies for sending and receiving payments. It's my main payment processor until I'm convinced into Bitcoin and cryptocurrencies in mid-2017. Since then, I only use Paypal for purchasing plane tickets and hotel bookings which I attached my bank card.

Even if this is a good thing for Paypal to adopt crypto, I would rather store my Bitcoin and other cryptocurrencies in my non-custodial wallets where I control the private keys and no central authority.

Am I the only one who thinks this is bad news? As I understand it, you cannot withdraw Bitcoin from PayPal, so any money you send to them is lost to the Bitcoin community. A few years ago, I started predicting that bankers would be removing coins from the Bitcoin community to reduce its utility. This appears to be another attempt by bankers to mop up small Bitcoin holdings.

At times I look for traders to exchange BTC for PayPal and vice versa. Now buying it from PayPal makes it an easy task. As it is completely centralized platform holding limited funds will be always good. Another thing PayPal have everything processed with taxes. For people who doesn't want to pay taxes can't make use of this service.

Well, if I would be able to buy real bitcoin and would have an ability to deposit/withdraw bitcoins on Paypal, then for sure I would use it.

But buying virtual bitcoin and holding or keeping it on Paypal isn't something that I want. If I have USD, then I would just normally use Paypal as always but what users here want is to be able to send bitcoins into their Paypal and be able to exchange it or send. Hope, they'll soon add this feature.
Seems, right now their strategy is to gain the attention of holders but at the same time they talk about taxes that we may have to pay, so, idk how wise action it is from Paypal to launch this service without main features.

It's been a year before I used my Paypal because commonly I'm using a local exchange or platform just to sending my funds into fiat and also I'm just using the electrum wallet if I want to send money via bitcoin would like to ask these.

How much is the transaction fee?
You can directly send your bitcoin into PayPal or still through the use of the bitcoin?
Do they support all of the country or limited?

I hope someone will ask.

This looks like a virtual bitcoin on their platform not the real one, it's a virtual bitcoin in dollars, I don't think it's safe at all, it's unsafe to hold huge amount of bitcoin in PayPal, I'm from a third world country and I can't access PayPal, even if I can i still don't like the idea of buying bitcoins from PayPal, it's too centralized, judging by the bad reviews have seen all over the internet its a no go area for me, I prefer buying my bitcoin the normal way P2P.

That's why most of the crypto user won't use this service. We aren't able to send those btc to anyone, it's virtual. There will be no wallet address no privet key. Just buy and sell through their service. So there is no point to use this. Though few people will use it being curious. As a long term bitcoin holder I'm never going to use their service. I need my own private key and be able to send it to other bitcoin address.

I won't use it. Just check what was posted here. Paypal + Bitcoin has nothing do to with "Be your own Bank" and obviously by using Paypal there is no financial freedom.

Check the Paypal FAQ here:

I've read somewhere earlier that apparently, you cannot withdraw bought bitcoin on the Cash App platform when they first started allowed buying and selling of bitcoin also. Hopefully it will be the same with PayPal sometime in the future. Idk, I just want to be optimistic I guess, even if I hate PayPal.

PayPal started to allow cryptocurrency on buying, selling, and shop with its network. It may be convenient for others to hold and buy bitcoin and other cryptocurrencies. But I will not buy bitcoin or other cryptocurrencies on PayPal because I have encountered issues in using PayPal a long ago upon receiving a transaction from a friend, and they didn't return my money. We may also not have any financial freedom with our bitcoins because they don't give and let you keep any private keys, so it is not secure to store your bitcoins with it.

I have to agree with this, specially when there's a huge amount of transaction involved using cryptocurrency.
This is something that crypto enthusiast must be aware of before using their service. This news might sound good for us coming from a big company, but there might be some inconvenience ahead of it. Infact some users have already sighted a few things which will cause inconvenience for the users in the future.

I voted for NO and see Im not the only person (16 votes 50%.)

Im just curious why I never received this introduction email from Paypal as a person who has been using its services for many years now.

Wont be using Venmo as a Crypto wallet either when it becomes available.

I don't use Paypal for a long time ago, maybe that is about more than 5 years, but I think I still have my account. Maybe later, I will try to login into my account, and I will check if I can buy crypto using my Paypal account. Hm, but I think people who use Paypal will not directly buy crypto from their Paypal account before they can learn or search for the cryptocurrency and how the cryptocurrency can give benefits to them.

Maybe that can give Paypal members a new experience to buy something directly from their account, but I suggest you learn more about how to secure your crypto on the Paypal account since it is a new thing on Paypal.

As many members voted, I also voted Maybe. But I think I don't want to buy crypto from Paypal because I am afraid that my account can get freeze by them, and once it freezes, it will need many documents to proves that we are the owner of that account. Besides that, people who worry about KYC will not use Paypal to buy crypto because they don't want to verify their Paypal account. They better use the exchanges which don't need to do KYC.

Since 48.5% voted no in the poll I would guess there is a lot of disagreement on this.

So far 1 guy purchased and it was only 20 usd worth. (that would be me)

Only 1 guy of 29 people.  This what BTC is up against 1 of 29 tried it out so far.

There is some good in that.  1/29 x 346 million = 11.931 million.

So maybe there are now 20 x 11.931 = 238.621 million worth of btc on PayPal books.

Would be more encouraging if it were  6 of 29 votes.

My answer would be a no because in my country, there is already an app that works the same as Paypal. It is also worth mentioning that Paypal is not as popular here in my country, plus their requirements for identification is a little difficult for an average Joe like me because the easiest identification is driver's license and it is not uncommon for people my age group to not have a driver's license the reason is that public transport is shite here but it is affordable than having cars and the paperwork that comes with owning a car.

As of now, no.
When they allow it to be moved it out to your own wallet. Mabye.
Depends on what / how they allow certain things.
3rd quarter Discover had the 5% cashback on PayPal purchases. If they allow that and their rates are fair, then yes.
Same thing with PayPal credit, can I get the 6 months / 12 months interest free financing when buying BTC? Same as above, if the rates are good then yes I will.

-Dave

No, buying BTC from PayPal account will make someone not to have a good reward from the transaction. many people are complaining about the stress of purchasing BTC from PayPal at the end of the profit would not be enough for them to spend.
Many are not happy about what they got from PayPal reward which they invest so much money hoping the system will bring more profit. I have experience so many things during the pandemic that make me vow not to purchase BTC from PayPal  that caused me to lost all my money to scammer.

I have an account with retailmenot. I get rebates which I cash to my PayPal account.

I used $20 of my latest $51.32 rebate.

I know on BTC we are 'cutting' edge so to speak.

But PayPal is an easy peasy way to adoption for more then 300 million people.

To see I am the only person on Bitcointalk  buying a piece via PayPal shows me that BTC adaption for the mainstream is far far far away.

I think I will keep the thread open for a while and post when I turn a retailmenot cash rebate to more BTC.

I am due for a rebate soon. ;D

I also do not see the prospect of buying bitcoin through PayPal, as I will not be able to cash out or transfer to other PayPal accounts in the future. Also, I agree that this is not exactly rosy news because it contradicts the decentralization of Bitcoin. Transferring cryptocurrency through the centralized PayPal system is not very good and is incompatible with the whole element of the cryptocurrency market. Therefore, I think this news is partly bad for true crypto enthusiasts.

Do they not allow Bitcoin to be withdrawn from their wallets? That's too bad, can we keep the Bitcoins in our Paypal account without any taxes? They are losing Bitcoin's decentralization by not allowing people to withdraw their Bitcoins from the Paypal platform.

buying bitcoin on PayPal is currently useless.
people use Paypal for payment, but you cant use bitcoin as a payment method in your Paypal.
you can only hold bitcoin with no private key in PayPal.
then, why people should use Paypal to buy bitcoin.

however, I vote for "maybe" and "I will wait and see".
but I still don't have any reason why and in which condition that I could possibly need to buy bitcoin from PayPal.

I haven't received an email of notice about the BTC news from PayPal. I still have doubts but if I get a chance to try it then I would grab and experience buying Bitcoin from my Paypal account since I'm also receiving my online payments through it. There's no harm in trying and it's still an advantage if we'll know if it would work well for us.

It's a hard "no" from me.  Now or ever.  They've been openly hostile towards Bitcoin from the offset.  There's certainly no reason to trust them now.  

They freeze or threaten to freeze their customers' accounts for using paypal to go anywhere near trading crypto and now think they can pull a full 180 and we're just going to forget about that and invite them in with open arms?

No chance.

I thought I wouldn't do that...
it is currently much cheaper for me to buy Bitcoin on Binance or my favorite local exchange and the fees charged for shipping are very standard. I am not an active PayPal user, I'm afraid the fees they charge are high when I want to transfer to other wallets.

I'm curious if the bitcoin price is gonna be cheaper or much worst in their exchange. But I'm expecting high fees when it comes to buying on the Paypal platform. You could probably buy some bitcoin on the websites just for backup bitcoin in your Paypal account but for people who wanted a private key, this is not a good choice.  The thing here is all of the Paypal users are gonna know that you could buy bitcoin on the Paypal platform and with that, there is a chance that they might be interested to invest in bitcoin as well so that is a big help in bitcoin adaptation.

I haven't checked my paypal account and it's been a long time since I opened it. I don't know whether to get an offer or not. But I will pass it if paypal offers it, because my paypal account does not have the balance to buy bitcoin.
this is the way paypal is able to introduce bitcoin to its users. Of course it will also make more and more paypal users and more profits too.
Cryptocurrency adoption by PayPal has become a trending topic and is good news for cryptocurrency to be better known.

Maybe later I will try to buy bitcoin on paypal and try cryptocurrency payments on paypal.

Basically because of the utter absurdity of its current design. Their decision to allow users to buy and sell Bitcoin and a few altcoins may be worth appreciating but other than that everything is just pure garbage. Which makes people think if there is even real Bitcoins involved.

So this is probably just the first step. I guess they're very much aware how they are now being heavily criticized by Bitcoin supporters. While the price seemed to react positively to their decision they must have heard loud and clear the legitimate negative opinions aired by members of the Bitcoin community.

I'm thinking of trying buying some Bitcoins on Paypal and will transfer it to my Electrum wallet but when I saw this post from you, I said already "Now I will not buy on them, ever".

My main purpose of buying Bitcoins from Paypal is because I have an Paypal account and I can transfer my money there easily but the fact that you can't withdraw the Bitcoins is the one that I don't like. I will go for no with this. Yes it made the price of Bitcoin rise and that is a good news for short term but I doubt that there will be many Paypal users that will use this new feature of the app.

I think you'd have much better results outside Bitcointalk tbh. A lot of people are hesitant to buy only because they would rather hold their own coins, something that probably isn't as prevalent for the mainstream. I would be very surprised if Paypal doesn't make bank from this. The fact that prices surged could indicate that lots of people think this is a good move.


I really hope so, though I remain skeptical. The community only thinks the design is absurd because we've been taught that "not your keys, not your coins", but Paypal is such a reputable brand that common folk, and maybe even some actual enthusiasts, won't mind. I absolutely agree that the design is horrible, but at the same time I could see it working especially once the fiat-settled payments are integrated. We have to keep in mind that there are a lot of people who are only invested for price movements, and I could see this being huge for them -- I mean, they'd be able to hold Bitcoin for speculation and at the same time, be able to spend on a whim where Paypal is accepted. If you don't care about holding your own coins, that's an incredibly sweet deal.

But wait.
We can assume, Paypal members have a lot of money inside their account, and once they know buying bitcoin is available through their account, I think they will try to buy it. And if they believe that bitcoin can give more money, I think they will still use Paypal to purchase and make more money.

There are differences between people who already know about crypto from a long time ago who don't want to reveal their identity while they use bitcoin (including me). But if that is happening to people out there who don't have much knowledge about cryptocurrency, I think they will be no problem to use Paypal because they already verified their account with Paypal.

They think that it doesn't matter if Paypal will know how much their funds in their account because they still believe in Paypal. If there are more people out there who can think like that, they will use crypto, and maybe, that will help crypto become mainstream among them.

We can let people decide if they want to verify their account or stay in the dark. But we can not deny that what Paypal did can help crypto become larger and grows than now.

+1
So we can assumed that everything that paypal have done so far are in the grey area , they are just making an uncertain move by doing that intransferable coins they are making confusion to the crypto user that has been exist for years now.

That's what makes some of us prefer to wait and see instead straight go for fucking no  :D
I'd suggest op to add or edit poll with fucking no in it , people might would be much more interested to vote lol

https://i.imgur.com/86tsttL.png


We've taken a look at the new PayPal app with Bitcoin and created a clickable prototype. Let us know what you think?
uxsequence.io/paypal (http://uxsequence.io/paypal)

Just opened my PP account out of curiosity that no email offer to buy bitcoin was sent to me.
https://i.imgur.com/Hq596nN.png
My account is locked because of new policies (https://www.paypal.com/webapps/mpp/ua/useragreement-full)
After seeing this redflag on my PP account, I wouldn't plan to buy BTC there without considering them giving me a discount.
It's worrying that if I keep BTC, with full authority, PP will make weird stricter policies about Bitcoin ownership than ever before.

I don't think I have to move to another platform to buy BTC safely and comfortably.

The problem with paying on Paypal is that their fees are too high from (1.5% - 2.5%) + 0.3 $ per transaction. I have never used cash to buy Bitcoin on Paypal, I will probably incur fees from their platform. Another problem is that can we withdraw Bitcoin to storage like other exchange platforms?

If there is only one thing for Bitcoin to be moved internally within the Paypal system, then bad because it doesn't help much for those who want to keep Bitcoin.

Really good post.

years ago 2012 I joined here and i went public.

I linked my same name ebay account. My id is well known my address is well know and I am kyc at

ebay
paypal
coinbase
bittrex

so I dont care about kyc for me personally.

do i hold it against those that stayed hidden no.

that is their choice.

I will say this staying hidden is not going to be as easy as it has been.

Btc will go legit and it will be tracked.

Paypal lets you be kyc right from the getgo.

So I purchased 40 usd worth.

It is on record. I have no tax issue until I sell it. That is simple easy investment for a USA citizen.

We see it as absurd not primarily because we don't have the keys. That does not make their entire design very horrible. Many of us might actually be using custodial and exchange wallets, after all. What makes their design extremely ludicrous or even nauseating is that [1] you don't even have an address, [2] you cannot withdraw or even deposit, [3] you cannot even send it within Paypal itself. It would have been less absurd if they don't want it to be withdrawn outside Paypal, but even from one Paypal user to another? That's beyond reason.

It makes a newbie ask, what then should I do with it? What's the point of buying in the first place? Just to play with the price? Everybody can do it somewhere else where the basic features such as deposit and withdrawal are available.  

Nope since it would be useless for me I would just pay another transaction fee while I could just simple buy it on exchange since I would just use it to trade and I could be the one to set up the price when to buy it.
I also have hardware wallet to secure my long term investment so I wouldn't need to hold any long term crypto investment on any online wallet or exchange.

Maybe, if bitcoin's price on Paypal was reasonable or too close compared to the exchanges' price, and some bitcoin users will probably use it rather than buying peer-to-peer. Of course, many people prefer a safer transaction, so I think even if the fee on Paypal is too high, many will use it to buy bitcoin. I answer maybe because I was already using a platform that can easily buy and sell bitcoin with our country's currency, but if I don't know this, I would probably use Paypal to buy bitcoin.

That is more likely to happen. The benefit this industry would get from PayPal offering their network to crypto is the hype and influence they could bring to those who are still not knowledgeable to cryptos. Those who are exposed to this community will surely choose to go with the "traditional" way of selling and buying cryptos due to lower fees and that sense of  assurance in a way that transactions are all transparent than using this third party network. But if there will be further developments and if it would be more convenient afterwards, it might make a change.

I'm not sure where Paypal is getting their spot BTC price from. It seems higher than Coinbase/Binance for the 4 times I checked it in the last 3 hours. This is before the transaction fees.

I am happy to see it being listed as an option. Although it's only a matter of time before they issue 1099s for any transaction. Remember is you buy BTC on Paypal and you're filing taxes in the US there's a check box now on the 1040 form that asks if you had any transactions in crypto during the fiscal year. Even buys need to be noted on that form per my CPA.

That is good. People will have their own choice, whether they will use bitcoin or stick with the traditional payment or still use Paypal.

I also verified myself for the exchange, and I don't have a problem with that because I think that I need that exchange to trade. But I only verified with the recommended exchange, and if I don't know if the exchange is legit, I don't want to use that.

If people often use Paypal because he has a business, maybe he will use crypto in the end because curiosity will make him search for how to use crypto.

So back to what I said before. That will depend on themselves to decide, and we know that bitcoin is legit. They will also think like that. Once many people think like that, bitcoin will go mainstream, and that can not be unstoppable.

It would be a matter of which is more convenient to trade, buy, and sell Bitcoin. If there will be delays, higher fees and other issues, people in this industry would more likely choose the traditional exchangers in order to do so. Chances are high that those which are not that familiar to cryptos are the ones who would engage to PayPal in order to do so. I am personally aiming still with exchanges in order to buy an amount of it, with further observations on how will things work for this network. But I am still waing for more feedbacks on how their experience went.

Base on the reply above bitcoin is more expensive in paypal compared to other well-known us based exchanges. and you need to add that you need to pay for taxes after buying There  and transaction fees you  need to pay when you buy crypto using paypal you need to also considered the  widrawal fee if ever you transfered it to your own wallet , you need to calculate every little details to know if its really worth it to buy crypto in PayPal.

No, I won't.
First of all it's a centralized service and I don't like PayPal for their previous bashing of BTC.
I also won't do it because I don't want to show support for their business and I'm afraid that they will actually use my money to buy BTC for themselves and then ban me for whatever reason and claim my coins. I've read stories about people banned and blocked by PayPal so maybe I would buy if they were the only option out there, but they're not.

Yeah! It is really not a good idea if we use PayPal to buy bitcoin because it surely has a big transaction fee and will just give us a headache. It is really better if we use other exchanging site that is most recommended by the professional bitcoin trader or bitcoin stocks maker. In my own experience, I use different wallet with different coins so that i won't get bankrupted. If one goes down then i won't lose a lot but the disadvantage on what i am doing is when one site goes up, i only earn a little but I think it is better than no earnings.

Maybe. You can't do much with it other than just hold it, so it's kind of pointless... but I'm tempted just because this is a big mainstream company dipping their toes into crypto, and I want it to be a success so that they expand on this and allow buying and selling using bitcoin. Overall I do think this development is positive news, and we should welcome it. Mainstream integration starts with small steps, this is one.

I don't see paypal coming too less for the price of bitcoin entering a so late competition among exchanges. If Paypal would open things like this there will be an edge for sure, they won't getting into a 'war' versus exchange offering services that is alike without having this advantage in the first place. But personally knowing that there is already reputable services that I can get in different platform, I won't bother myself buying bitcoin or any currency in Paypal, Perhaps I'll just try it for the sake of its trend  ;D

I'm not very aware of what paypal is offering but I heard some users can't withdraw their BTC to store on their own wallet.

I may also buy is things will be different and if they have lower price. ITs easy to make transaction now out of the money earned from freelancing to investing crypto. But there is always a voice inside me also telling not to use paypal. 

I'll also choose to sit this one out for the moment.

There are many different opinions and until it's clear whether paypal BTC trading is safe and works the way it's supposed to it's an unnecesary risk.

I'm very happy that paypal took this step but it's still just another centralized exchange.

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 (http://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

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.

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.

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.

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

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

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 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

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.     

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

And whatever it is, it cannot be called BTC. If you buy BTC, what PayPal offered, you can't send it anywhere outside. You can only buy BTC with PayPal and then convert that BTC to PayPal again, who knows if it has any function at all! just deduct some fees from the middle. If I buy BTC but can't withdraw or use it and can't bring it to my hardware wallet, does that BTC has any value?
PayPal has not yet introduced the option to buy BTC to the public, it is still in the experimental stage, so I'll wait & see what will they do.

I vote for "I will wait and see".that is because, Paypal just accepted bitcoin but they remain bitcoin withdrawal close. I assume, they might have plan about it but due to they are new in this Crypto field, so we should let them sometime for complete upgradation.if they take bitcoin seriously & enable its withdrawal option for users in upcoming upgradation, then i would like to try purchasing bitcoin from them, otherwise no.

I have not even made a Paypal account yet. In my country, the utilization of PayPal negligible, you can scarcely find the existence of it in our daily life. Nonetheless, there have been many digital wallets which bring us a lot of advances and benefits. Quite great

Personally, I do not like the idea of buying bitcoin on PayPal. Although they are the leader in online payment, using their platform is committed to giving away our privacy. But if there is no way to resolve this problem, I guess people will use PayPal to access bitcoin. In my country, we use Remitano to buy and sell bitcoin because it is fast and convenient. It's also a p2p platform

So far, only US residents can buy BTC with PayPal. 

If we talk about the future, then I have doubts.  Bitcoin doesn't need intermediaries.

I have no trust in PayPal.  The Bitcoin blockchain is transparent.  PayPal is not transparent.

Amid the financial crisis, can I trust PayPal?

I trust Bitcoin.  Bitcoin is open source.

This adoptions makes other people more interested in bitcoin. Yes, also the beginners in this industry for sure will use their services. But as we know, not your keys not your crypto, so for me I have still doubt purchasing btc from PayPal. And, I might buy btc directly from exchange than using PayPal services.

mind sharing your thoughts on why you are not interested and also why have you said that this is for beginners only?
looks like you have great idea so please explain further?
also found this one as i checked now,any specifications why this seems not available in Asian country?

Similar to some of the comments on here, I too think that for people who have been in the industry for years taking crypto with its ups and downs PayPal isn't a place for us to buy from. PayPal is good for newbies who heard about BTC and finally wants to get involved, that's who I think PayPal is for but not for 'old dogs' like us.

In my opinion, PayPal's move is nothing more than just a mere vehicle to increase adoption and spur an increased demand in crypto and BTC which may lead to a price uprise. Am I wrong?

There are a lot of better places to do it. I rather buy it on big exchange like bitfinex or binance from my bank card. I can freely trade it where and transfer to any wallet

No, but i will gladly let the sheep do it.

Unfortunately, this shows that the future of cryptocurrencies may belong to solutions that ignoring the value of technology properties. The simplicity makes it not secure, but most people don't care and will always choose simplicity over security.

I also voted for the same option.

Right now I can't purchase or store cryptocurrencies using the PayPal platform, because I am a resident of India. This option is available only for selected accounts in the United States. Even if it is available to Indian users, I need more details regarding the (additional) KYC requirement and deposit/withdrawal limitations before making any moves. Also, we need to see if some bug or vulnerability is found in the near future with their cryptocurrency storage, which may increase the chances of hacking.

It depends on the situation I would only buy through their platform if I have money on it and I want to keep it on Crypto or doesn't have anything to do with it.
I only use Paypal for my transactions with other people who doesn't know crypto so if they would find out about crypto and they would pay me directly with Bitcoin then I think I wouldn't need to use my Paypal anymore,
It would be great since Paypal is letting others know that Bitcoin isn't a scam like how they think of it since Paypal is accepting it.

Same here. I kinda got hyped when I heard about this and I know they still have plans to upgrade their user's cryptocurrency experience but for now, I'll stick with my regular cryptocurrency platform. Transaction fees are still high anywhere and I know Paypal will be able to find a loophole to it so I'll buy some for now and wait things out for the meantime.

None of the cryptocurrency users I know are setting up their account in PayPal just because they want to trade in cryptocurrencies using their platform. A few already had their PayPal accounts, and they have purchased small amounts of crypto just out of curiosity. For experienced users, they don't need PayPal to deal in cryptos. Those who are doing it, is just out of curiosity.

Seems that you did have a great experience of buying bitcoins in PayPal. And it looks so convenient in your part. However, my vote is I will wait and see. I'm gonna wait for several investors that will buy bitcoins in PayPal platform and see if they will have the  same experiences as yours. I believe that its better not to rush things out, though a lot were seem to be so excited with the new, great additional features of PayPal. I still prefer to wait and compare each experiences. Its more wise to see a majority positive feedbacks rather than just few.

I dont think that buying bitcoin from PayPal is a sagacious thought. First, you are not able to transfer bitcoin located in your personal wallet. It violates the rules and PayPal does not let you do that. Second, you dont have power over your PayPal-Bitcoin. They just let you by bitcoin for only one purpose: Holding aka Investing. Third, I do not see paypal useful as other digital wallets in my country. They offer too many benefits and cashback so as to lure users to temptation lol.

Instead of using paypal to buy bitcoin, I would rather buy bitcoin from my local exchange which does not even care about my identity. Although it is a little bit higher, its worth after all. I wont let anyone having my personal data in a easy way

I am not a paypal user and I have never registered on paypal so I don't know that paypal now sells Bitcoin, in my opinion if paypal has received Bitcoin it is very good for paypal development so for paypal users it is very easy to buy Bitcoin there, maybe I will try to register there and see how the Bitcoin buying system is there, is it very difficult or are there other difficulties.

For what i should buy crypto from paypal if i cant withdraw it from there?

Better you don't know with PayPal because many costumer not friendly after using PayPal with their rule very complicated, yeah every one know good news and have positive impact after PayPal adopt bitcoin but when you create PayPal account and have trouble your fund will lock until pass their progress, I use paypal for long term and I know what advantage and disadvantage for PayPal, very sensitive when detected we use other IP for log in to PayPal and they will make our account limited and can't to send or received balance from the other. Better buy bitcoin with your local exchange than using PayPal trough way.

Again...I think PayPal is crazy like a Fox!

I will buy from PayPal if for no other reason than to 1) spur adoption 2) get some 'dust' in an easy manner!

I also have a hard time believing that PayPal does not have a long term plan that involves most of the following

1) bring the worlds 'un-banked' into a way for them to get products worldwide with the security in the Bitcoin and rather than a credit card or
    checking acount, etc. In other words, you say allow a person without above to Buy BTC/Crypto on the PayPal site, which is not setup to
     be used and hot held. You offer a debit card backed by their BTC/Crypto...or you accept something like coinbase's debit card. Both reguire
Know Your Customer (KYC) and a passport say held up to your face and verify. This is step 1.

2) Once the person has a PayPal say issued BTC/Crypto backed credit card and has done the KYC to PayPal's satisfaction...and reaches that
level of verify...you can offer more services ..like a bank actual checking/savings of fiat and perhaps your BTC (not a big fan of this but thinking
in evil corporation mode)..this is step 2

3) Step 3 actually allow more control via Viemo wallet or whatever of your BTC/Crypto with the usual allowances for taxes etc, etc. Supposedly.
    Now PayPal has morphed the 1st 2 senarios above into a legit KYC exchange.

If you add to the above, that say paypal 'as some have stated with viemo wallet in the past' allow crypto hod/control/etc say that PayPal was
to buy BitPay..well all heck would break loose IMHO.

This would be a 'corporate' way to bring the unbanked of the world from sketchy countries with say high inflation and dubious banking to eventually
with BTC/Crypto 'prove' their bona fides with virtual currency. They say that 'all' value from societies that have started banking has started from
the 'proof' of ownership of 'land' and thus you can borrow against land to get a milk cow and pay back etc, etc.

This would be a way to 'prove' you are reliable and use Bitcoin as a 'virtual land' to use to establish your bona fides, irregardless of the legal status
of your ownership of say land or anything else in a country without such 'legal' means to prove such. Indeed millions of people for maybe even
a couple of generations have sat on land, in poverty, without any proof who ones such and just can't get out of this rut.

With, most folks overseas in such dire straits, most can now afford a cell phone, thus all the above is possible outside whatever corrupt system
they are  under. It is impossible with BTC/Crypto not to be able to send BTC/Crypto in Havanna, Cuba as an example no matter what the Trump
Adminstration in the USA says.

Anyway, despite what people think about 'banking' above and PayPal above (I'm dubious as well) this is the likely pathway that PayPal will take to
make the 'pie' bigger and get them more customers with little and I mean very little risk...in that the security is in the BTC/Crypto on hand to start
the above banking or pathway above, PayPal will want to aspire to...and be a force in banking the unbanked along with the inevitable expansion of
BTC/Crypto as a result as well
.
Not sure, hopefully, even if such banking 'was' available eventually to the above folks in the above circumstances they would also, even if they
did aspire to and get banking..see with btc/crypto by that time they have more options than to just realy on banking and traditional finance alone

Anyway, would be my long term plan if I ran PayPal....the coming year is gonna be 'damn' interesting IMHO. I do wonder if they 'will' actually  chuck
out the bucks for BitPay however..that would be a huge jump start to PayPal's plans if my guesses above are correct. :)

Brad

In the end, is PayPal, and its big fees haven't changed. So, is nice to have the option now, but is not the best way to do it for the next reasons:

1.-They have high fees that mean they take a piece of the cake.
2.-There is no privacy since they have a nice KYC.
3.-Big fees to spend the coins.

My vote will be Maybe. Honestly, I can't decide so easily especially this things is just new in PayPal. However, buying Bitcoins in PayPal platform seem to be great according to few individuals testimonials and I guess, it brought some excitement to others to buy there too. But for me, I think I will have to wait for a couple of months or a year maybe before I will try the new service of PayPal to better gather more reviews from several investors.

More likely, people in this industry will prefer using the old way which is through exchanges and might not consider using third party network. Fees would be more likely higher but it will be more convenient to those who are not using exchanges since they will be more exposed in PayPal due to its popularity. Another thing is privacy concerns, there will be KYC in PayPal for sure. Although it is also existing to some exchanges, overall 'convenience' will be the factor ofcourse. Things above mentioned would be considered. Not unless PayPal will make further changes which will make investors consider it more as an option.

If I was a newbie and never had an opportunity to buy btc before or have no clue how to do it even though I had wanted to, then yes I would buy btc wfrom PayPal, we should understand that many PayPal users have no knowledge about btc and probably don't understand how to go about buying btc but having that opportunity under their fingertip will means alot.

Good you have try to purchase bitcoin with PayPal but for my country is through many way if purchase bitcoin with PayPal account, first we have buy PayPal balance and have to pay with higher price than USDT value right now and than purchase bitcoin through PayPal. But some easy easy way my country have local exchange just sent money to our exchange local account and we can buy bitcoin or altcoin without have waiting like purchase on PayPal. Now which one do you choose for purchase bitcoin using PayPal or directly with local exchange account.

I did not know that.  I thought we were buying bitcoin directly via paypal.  As you said, if a virtual bitcoin is purchased, this will only suit users who will log into cryptocurrencies. Thank you for teaching something new.

The whole buying and selling of cryptocurrency is done through the Paypal site but was not handled by Paypal and the last time I checked Paypal offer a service just like cryptocurrency exchange and it not a must you keep your coins on their platform since you don't feel comfortable with you not be in charge of the crypto private keys.
I will gladly buy crypto on Paypal and move it to my wallet but the service is yet to be available to my region.

I don't know if this feature is available in my country but I think I will not buy in PayPal, I normally used PayPal in some of my foreign transactions since I am being paid usd, the fees are very high for me, well I guess if I will be able to withdraw bitcoin using that maybe the fees are much more higher right? I rather buy bitcoin in binance using card rather than in PayPal, perhaps I think this one is new so I think there be bug for now. I don't know how much will be the transfer fee, I need to know that because fee is important thing for me to know.

I'm afraid none of us would take the risk of going the PayPal way to buy crypto tbh. Yes I do believe that their announcement is making rounds on the charts but the fact is, we are also aware that PayPal can, any time, put our account on hold, freeze our funds and sometimes we can't do anything about it and so we need to leave our funds there only. See, when BTC is all about privacy, I believe that P2P will always remain the best option to buy it rather than buying it from PayPal where they know almost everything about your details.

For traders, purchasing Bitcoins with PayPal is not feasible at this moment, because they are yet to enable the withdrawal option. PayPal may enable all the features only by mid-2021, and even then I don't expect their withdrawal and transaction fee to be any lower than that of the exchanges such as Binance and Huobi. Also, at this point it is not clear whether they will allow the trading of various cryptocurrencies in their platform.

- I will not be using any centralized platform that requires users to KYC or provide bank card information.
- Information provision on centralized platforms will be vulnerable to disclosure. then the government and the bank will very easily pay attention to your account as you make more revenue. I dont know about taxes and laws in the US too much but for my country, making money from the crypto market will result in jail time or very heavy administrative fines. :'(
 That's why I would often go to the black market or use reputable decentralized platforms to cash out. Besides, transaction fee on centralized platforms like Paypal will consume a lot of fee, that's not what I want.

I've splurged $50.00 on getting some Bitcoin on the Paypal site, using the buy Bitcoin option.

Kinda, right in your face, if you log on to your Paypal account and the first page that comes up shows (in my case) $0.00 Paypal wallet.

Then in 'still' large characters shows my Bitcoin Balance as $50.00. Kinda impressed. Right in your face along with your regular wallet amounts.

It also is very interesting to get on and see the value of the $50.00 original investment on the PayPal site...go up and down in value. (I'm unsure
...so
if fees were extra on the $50.00 I bought or in the $50.00 total I see for balance..but anyway).

So, just saying it is kinda slick.

I hope they add full in and out next year to the Verimo wallet (sp?) as they had before they went to BTC/ETH/LTC/BCH...so because it was done

before on that wallet...I can hope it will be added in that manner again in the future.

I am however, more than a bit 'amused' on the 'newbie' (we have all been there) additon of Bitcoin Cash (BCH) just before the fork..not sure

anyone saw that coming....a 'newb' mistake. But probably not a big deal...though it may have made a few folks at Paypal's hearts go pitter/pat

in discovering such after the fact...(er...my guess anyway)

Has anyone else done more extensive in/out with Paypal and other currencies on here besides my sit and HODL on $50.00 here? How are the fees?

Let those who sit on our hands on the paypal site like me know ..how it is working out if stressed at least a little bit more! :)

Brad

There are many things that need to be considered when we want to make transactions using paypal, one of which is how much fee is needed? and how fast the transaction can be presented by paypal.

But even though this is new to paypal, we already know that paypal has very good legality, of course its performance and service regarding fees will also be carefully calculated.

Because of I am not belong to u.s, can't buy bitcoin at this moment from Paypal platform.but i expect from paypal, they will going to available this features for worldwide users who isn't from us as like me. but has a big problem with it, they deduct high fee when user convering btc & paypal dollar. even they don't provide us private key! I think Who know well "how to buy bitcoin with secure way", aren't going to accept paypal instend of exchanges

This is something to consider:

A Paypal user has been banned, and his account assets blocked for 180 day for allegedly … buying and selling crypto on Paypal itself. Apparently, he was using Paypal’s crypto buy/sell capabilities to buy the dips and sell high, but with a frequency seems to have triggered some stale alert that led Paypal to follow a standard procedure, that probably does not account for the heavyish crypto buy/sell orders.

If this is for real, it seems like they’ve messed it up pretty nicely with this person. Nice way to gain adepts … They should really revise the case over again.

https://www.reddit.com/r/CryptoCurrency/comments/k0rmtw/paypal_permanently_banned_my_account_due_to/
https://cryptopotato.com/this-user-had-his-paypal-account-banned-for-trading-cryptocurrency/

Still not enough to change my opinion.

Ever since PayPal made Bitcoins available in their platform, more than a million users have made use of that opportunity and accumulated Bitcoin. This seems to be an isolated case for me. PayPal do have some tough T&C. This user might have violated at least some of them. Anyway, I hope that he will appeal against this ban and his account limitations will be removed by PP soon.

Sure as i sometimes need to use my Paypal account in buying Online,because there are various sites that only accept Paypal so i had to Load from time to another but now that Bitcoin and some alts are already accepted so i have no problem but to convert whenever i need funds as i always have my Maintaining crypto in my Wallet aside from those in safe box.

This doesn't surprise me at all. One of my client's PayPal accounts was permanently banned a week ago without notice or reason and they weren't even crypto related. They opened a business account 2-3 months ago to process orders for physical goods on their website. Legit 30+ year old mom and pop business. PayPal stated they could no longer do business with them, provided no reason, said the decision was final, and put a 180 day hold on the funds in their account. They weren't even doing crazy sales. Maybe $100-$200/day. Zero cases filed against them and all of their shipping labels were bought and tracked through PayPal. A company that will terminate your account whenever they want without explanation is probably not a company you want to be doing business with, let alone trusting with your crypto. Good luck getting anyone on the phone either. We'd leave a call back number and get an automated call back a few minutes later saying their call center was in maintenance.

I will not make any transactions through paypal because the security of paypal is not good even some platforms do not accept payment via paypal
so there is no reason for me to buy bitcoin via paypal

I was a paypal user several years ago, and often had difficulty withdrawing funds and wanted to exchange them for Bitcoin to make withdrawals easier. I think it's not just me who feels this way, and now that we can buy Bitcoin using a PayPal balance, it's a very exciting thing.