Bitcoin Forum

PayPal Will Start Accepting cryptocurrency (https://cryptodirectories.com/news/paypal-will-start-accepting-cryptocurrency/) such as Bitcoin BitcoinCash Ethereum and Litecoin at the beginning of early 2021.

Many users are taking this negatively because Paypal is Centralized
But in my opinion, this is better than using a third-party P2P platform
if we will talk about PayPal to Bitcoin trade this is a common trade that scam happens

i experience it before when i need to pay in some website where they don't accept bitcoin
i sell my bitcoin in the third-party P2P platform the scammer chargeback in PayPal and i never get my bitcoin back
even i don't plan to use PayPal anymore i don't a have choice because this is a platform that almost accepted everywhere
but it will be different if i can put some bitcoin in PayPal instead and trade it directly on their platform

we all know and need to accept the fact that we cant use bitcoin everywhere
with paypal adoption bitcoin have a higher chance of merchant accepting bitcoin independently

Not your keys, not your coins are one of the reasons of some users but holding bitcoin in PayPal is optional
the same in exchange and other centralized platforms. only put what you plan to use, trade, or afford to lose.

Do you think this is the start of mass adoption in bitcoin? or Nah?

The answer is obvious and it s yes, bitcoin will be more accepted and be used by people, people trust PayPal. But, people will be ignorant of the fact that PayPal is just a third party, some people will not know about private key at all, which is still the continuation of centralization. But the main aim of bitcoin creator was to make a currency that will be fully decentralized but this is being compromised by the centralized world. But, people that know about bitcoin very well and have expert view about it will still be able to use bitcoin in a decentralized form but while many people are not bother, in one way or the other, people that are not bother are susceptible to scammers and hacks, although, it can be indirectly.

Did you just praise and criticized Paypal at the same time?

But merchants will be paid in fiat (USD) and not BTC. Paypal will only act as an exchange converting whatever customers pay in BTC into USD. I doubt the merchants will even know what payment method the customers used.

It's not even optional

Look at this:

If merchants can accept BTC payments directly. I doubt if otherwise.

Pypal's acceptance of cryptocurrency will definitely boost the confidence among the mass about cryptos! So yes, possibly we can call it a great push towards mass adoption. However, from what I know, paypal will not provide wallet services. It will just allow people to transact in cryptos through an intermediary.  I am not sure how it will work in reality but I guess it will definitely bosst the confidence of people! Let's hope for the best!

The key to mass adoption is patience and steadily increasing the base of merchants (which so far is happenings) and implicitly people who trade goods/services using cryptocurrencies. PayPal is making a strategic obvious move in the current market environment where so many personal finance start-up raise up like mushrooms after the rain.

yeah, I am thinking of the same thing.
we cant use bitcoin as payment via Paypal.

but..

when merchants accept PayPal as a payment method, we already have a chance to pay them with bitcoin indirectly.
we can contact them to offer p2p bitcoin payment with a little bit of bridging about bitcoin integration on Paypal.  ;D

If PayPal does not allow to transfer of bitcoin in off PayPal means the transaction will be between PayPal to PayPal. So the transaction will not broadcast into the blockchain. Here is the real concern, because of chargeback. It would some internal algorithm inside PayPal for off-chain transactions which is possible chargeback by PayPal. Chargeback will hit the decentralized system and it wouldn't adopt bitcoin in any way. PayPal would keep their role in bitcoin adoption if they allow both on-chain & off-chain transaction. Also, I am worried about fees as well, but not sure how about their terms regarding overall fees.

this is a bit weird to say though. PayPal is not a merchant to accept bitcoin but they are a service provider that has been providing payment services and online wallet option to people. now they have added the option to work with bitcoin too.
the way i see it this is another way for them to make more money from commissions while keeping their users and won't affect adoption of bitcoin.

Mass adoption of bitcoins is not an option until and unless more than 50% of the population theoretically uses the crypto.
We have 16% of the world population living without electricity and even much more without internet , to make cryptocurrencies like Bitcoins more acceptable we have to make sure to include these basic needs and it needs to start with education.

We still have decades when people will start using the online banking regularly since despite the option most people around the age of 40-50 and up , prefer traditional banking.

I know nothing about mass adoption right now. But I do know that it's getting excessively famous with regards to people who are tech savvy or the one's looking for an investment opportunities.

At the same time due to pandemic it have helped a lot of people to find work, go international therefore people have a positive image with regards to bitcoins right now. Give it more time , more freedom then we can think about the mass adoption.

Although I agree with you to some extent, this will affect Bitcoin adoption just by the massive publicity it will get. Just think about the millions of people who use PayPal on daily basis. They simple fact that they will see the Bitcoin logo (probably) and will have the choice to select it as a method of payment is enough. After all cryptocurrencies are not meant to be used in a centralized fashion. But free publicity is always welcome. ;)

Agree with this. I don't trust PayPal in anything. They will just use this to fill their pockets more, and with cash not Bitcoin.

However, it gets the message out. That's still big.

This is not enough. They will have a platform to buy, but what about their avenues to spend or use their bitcoins apart from just keeping it as an investment? It has to be more than that IMO, though PayPal accepting cryptocurrencies is already a welcome development. More and more people will see this thing regarding bitcoin and cryptoccurencies; it will arouse their curiosity until they encounter this complicated world of trading cryptocurrencies and they will soon take part in it. Though of course, only a little percent of that curious minds will actually start buying since only some of them will understand what's in store for them if they hold, and a major lot would probably wonder what to do with it if there aren't enough shops that accept it.

Paypal will have many more advantages and paypal will continue to be used. Cryptocurrency users who previously did not have a paypal account will certainly create a paypal account to be able to use the service. This is a new breakthrough made by paypal. Apart from bitcoin, several other cryptocurrencies will be added such as ETH, LTC and BCH.

When making payments using virtual coins such as BTC and ETH, paypal will convert them into the relevant national currency, so that companies providing goods and services are still paid using the national currency but with pre-converted cryptocurrency intermediaries.

Paypal is a tranding topic today. this is the beginning of the mass adoption of Bitcoin and of course there will be more to come.

I never expected that such day will come. If someone would have said 5 years ago that PayPal one day will start accepting Bitcoin, I would call him stupid.
It's very big news, it definitely will boos things. But I think we won't have such mass adoption as we all imagine anytime soon, maybe never. There is many reasons why. I doubt that one day crypto will be used by most of population. I don't think that people will start spending their Bitcoins daily as they do with fiat, they will still keep it as investment asset. Also, this PayPal step won't change attitude of governments and legal status of Bitcoin in some countries. BTW, maybe I missed something, but there is no information, will Bitcoin on PayPall will be available worldwide or just in few countries like USA?
I really don't like PayPal. They can close your account or froze funds for whatever reason they want. I started to use Bitcoin to avoid such full control and I can't imagine myself trading Bitcoin on PayPal.
And another question. Will it be possible to send Bitcoin outside Paypal account to initial address or it will be fake cryptocurrencies like on Revolut where you can't do anything with it except buying and selling it.

what you explained doesn't sound like "mass adoption of bitcoin" but more like mass adoption of "paypal" instead!
people aren't going to be using bitcoin to pay for stuff but they will be using this third party centralized service to sell their bitcoins to so that they could use paypal dollar to buy stuff with!
besides you can not withdraw the bitcoin you bought as far as i can tell by reading the news sites which is another indicator that it is not "bitcoin usage".

Looking forward how Paypal will successfully be integrated to the crypto space, finally.
This is not only a thing that I've watching and waited for, some big companies are already accepting Bitcoin and PayPal is not an influential though, so it never gives a huge impact then to the market. However, this will pertains to something that more and more companies are moving in to crypto space.

Start of mass adoption? We are already been started quite long, only it happens that the adoption isn't that fast as we thought. And yes, this is one of the results in regards to adoption.

Yeah, and because Paypal has a lot of users, this might get crypto to mass adoption, but we have to think that it won't happen that quick though, it will take years before we can see it. As for this news, this is positive, because for me, we need third party to really get the ecosystem and global adoption going. I know it sounds weird, because we wanted a p2p, but having Paypal will add as intermediary will somewhat increase the usage of bitcoin so it will have a net positive effect in the future.

it's a good thing. paypal is not the end goal---it's a means to an ends.

sure, when the paypals and fidelitys and jpmorgans of the world get involved, it leaves a sour taste in our mouths. that's understandable. but the silver lining is that they are legitimizing bitcoin in ways the community could never do on our own. people look to institutions like this as authorities on money. if they expose their hundreds of millions of customers to bitcoin, a chunk of those customers are not only going to invest in bitcoin through their platforms, but they will eventually become real bitcoin users. that's the road to mass adoption right there.

Mass adoption is already in action and so far, the progress is great. It's just that there are people with high expectations that wants something big without realizing a success can't be achieved overnight.

The integration of crypto to Paypal can be considered as a big development that might boost bitcoin's popularity. It can attract more people to put money on the bitcoin market.

But remember, if the price goes up crazy to the moon after that news, that might become a dangerous mass adoption you will see. Expect a crash after that without a doubt that might result in some people again left the crypto world because they expect they can be rich within a short period of time.

Nah I don't think it's obvious, and I don't think people would actually use Bitcoin to buy and sell something in the platform. Though this is a good news for the crypto enthusiast for Bitcoin and other crypto to gain more popularity (which somehow shows a sign of adoption), but this also seems to be a good move for Paypal for them to become a mainstream service on the top of the others. People will just convert Btc to USD to buy or pay for service anyway.

I believe that bitcoin as a decentralized coin is one leading factor that people are attracted with. Surely, if it was centralized, it won't gain the kind of acceptance and adoption it enjoys today.

But P2P trades are still a minority of Bitcoin's volume so you should compare PayPal's new service to centralized exchanges, and in this case PayPal loses, because it has all of their negatives, like KYC and not your keys not your coins, but on top of that you can't actually withdraw your coins to mitigate those flaws. I personally would use every last alternative, before buying PayPal's "Bitcoin" that you never really own.

Of course the positive thing is knowing a platform as big as Paypal finally accepts Bitcoin, this can increase the popularity of Bitcoin.
Because more and more people will start to believe in Bitcoin if Paypal accepts Bitcoin, this will indirectly increase the demand for Bitcoin.
But I don't agree if this can start mass adoption in Bitcoin, because Paypal is not a merchants. After all, Bitcoin transactions can only
be done on the Paypal platform for now.

Adoption is always on the move as the years had past which we can really see the progress since there are merchants that do gradually adding up bitcoin into their payment options.
On the current news we are in specially talking about Paypal then we cant deny that this is indeed a great news since we know on how big is Paypal in terms or payment processors that do
exist as of today and now they had decided to add up bitcoin into their options which is something that will really be giving out some positive insights into those other companies out there.
If paypal do able to do so then why wouldnt try it too? This will or might not be a catalyst for further adoption but at least we do able to convince out Paypal in regards to Bitcoins true relevance.

Maybe when this happens that paypal is already accepting crypto, this is a good start for more people to trust cryptocurrency more firmly, and it could lead to mass adoption. Because we know that many are already using paypal and it is already known, so it will be a stronger foundation of crypto for mass adoption.

Haven't we started the mass adoption even before Paypal announced to accept bitcoin and other cryptocurrencies?
 
 
 We can buy, sell and even hold cryptocurrency such as btc, eth through paypal. With this of course, will push through the mass adoption. However, they are also planning to use bitcoin payments to merchants thru paypal next year. If ever this will gonna continue to be launched, it will encourage the global use of bitcoin and will increase the adoption of cryptocurrency. Having this new platform service will then be improved crypto market as we know many are looking forward for Paypal to finally accept cryptocurrencies.

I'm not even sure we're in the early adopters phase yet, let alone heading towards mass adoption. How many people have had a taste of BTC? A few tens of millions at the most perhaps. The theoretical masses would be anyone with some internet access and a need or use for it which means a few billion people.

When you're up to your eyes in it it's very easy to have pisspoor perspective. In real terms it's still an outlier.

As for Paypal, it doesn't get much more in your face than that but I think it may be a slow burn. It's no use for shopping, why would you buy something to buy something? The only thing it is useful for is mad gainz. Let's see how many seek them out.

Paypal is a multibillion company that is used by many people and businesses globally across the world, so yeah i think this is the start of more company and Institutional investors trading, buying and selling it. Because the concern of the regulatory system with a threat of a financial crisis. Even big gold investors such as DavinciJ15 is selling his Gold for Bitcoin. Also CNBC change their opinion to Bitcoin being a viable investment during this uncertain times.

As long as this is not asking for KYC then why now?if this event will preserve our privacy and security i will surely support this Paypal -crypto bonding.
This is the problem if your country does not support or having  a hard thing towards crypto you have no other option to convert your bitcoin into fiat.
well paypal doesn not even available in the whole world so there is no need for expectation big.
Mas adoption is too much to expect just because paypal has a deal towards crypto,remember that america don't represent the whole world.

How many people on the Earth use PayPal and how many bitcoin enthusiasts accept risk of chargeback on PayPal to do all of their transactions with PayPal. With Bitcoin transactions, they can get privacy (if they know how to manage their wallets and use Coin Control feature in non-custodial wallets) and they can also get anonymity at some levels with Coin Join transactions or with bitcoin mixing services.

With PayPal, besides chargeback, you can not get privacy and anonymity so why should accept PayPal while people have better choice, bitcoin.

The key word there is "CURRENTLY".
Possible that they will aren't implementing it as of this moment since it is still new but maybe, just maybe they will add it in the future.

For now, I will not touch my Paypal account in order to buy any Bitcoins in this app. There are many and better options into where to buy Bitcoins and the fact that you can't transfer it as of this moment is already a red flag for me. Maybe if they will allow transferring of Bitcoins then I might decide whether I will try it or not.

I believe in PayPal, even though this is still an early stage, to anticipate big losses is not to buy a large amount of Bitcoin on PayPal. We don't invest Bitcoin in PayPal, if you want to buy Bitcoin in large quantities, there is a safer place than a company that recently adopted Bitcoin.

PayPal provides solutions to us as the OP describes

It is the influence that will benefit this industry but not really what PayPal did. Ofcourse, PayPal will be the one who will benefit more from doing so, but to look in different perspective, given how huge this network is, it could lift the confidence of other companies, businesses who are doubting the advantages of this technology. 'coz no matter how we put things here, mass adoption of cryptos are being stopped by doubts due to issues concerning decentralization and volatile market value.

we've gotta be in the early adopters phase. these are just marketing terms so we should take them with a grain of salt anyway, but between 2.5-16% market penetration = early adopters. after that comes the "early majority".

https://ondigitalmarketing.com/wp-content/uploads/2012/01/640px-Diffusionofideas.png

various surveys of bitcoin ownership (at least in places like the USA) have it at 5-10% of the population. in fact, that was a year or two ago.

In addition how Many users they have it will make it easier for them now to buy using PayPal I am sure many is tempting to have that option and waiting for that great news that they will add it . and this will make mass adoption for its users and many will realize how good to have bitcoin as investment since its now easier for them to buy they will buy.

wow paypal news is spreading everywhere but i agree with this guys most people not know about private key and as i know company like paypal will get in trouble if someday if turned into scam

The recent purchases of Bitcoin by companies as a hedge against the crisis and bank shutdown and now PayPal are going to build a positive image of Bitcoin in the heads of all those who were considering it in 2016 and 2017 but were told by the mainstream media that it's a bubble.

It's an important step on the road to adoption. If PayPal could get us 2000 USD up this month what will other institutional investors do?

I'm not going to buy bitcoin this way, but I consider such news as extremely bullish. PayPal new features will make Bitcoin more user-friendly. It's a big step towards the mass adoption.

I would say yes but people shouldn't forget that Bitcoin was created to be decentralized so they should find their own wallet and hold all their crypto on their own not on another centralized platform,
Just remember not your Keys not your coins.
So for those who would start to invest in crypto because of this mass adoption or because of Paypal's acceptance we should teach them properly and open their eyes about crypto.

Every adoption of big companies plays important factor for bitcoin price to keep on rising. Whenever there are companies who will adopt can make other companies or people to think of using it as there are companies who already risk or support it. It's an addition to those PayPal users who didn't want the way how bitcoin transactions works before. Soon more companies will adopt because of this move made by PayPal.

Curiously after this news, bitcoin began to rise, this is a good and positive thing, in my case I am not a Paypal fan, actually when I have obtained Paypal payments it is something that I don't like much, and more than their fees are impressive When we compare it with Bitcoin, Bitcoin will always be the best in everything, and if they offer a way that your balance can be changed it is something that should be taken full advantage of, in fact, I do not know how Paypal took so long to establish this change.

Adoption is a fact, all large corporations are discovering the great potential of Bitcoin, mass adoption had already begun, this fact of Paypal does greatly accelerate this process.

I believe PayPal accepting bitcoin is a very huge boost for the mass adoption of crypto in the mainstream world.
I saw a thread similar to this yesterday and I mentioned there that PayPal is a big company in the financial world and their reputation precedes them which makes people trust them. Trust me, many will adopt bitcoin now simply because PayPal endorses it since accepting bitcoin means they are accepting it
I however hope that their transaction fee is as minimal as possible so as not to chase many of those they'll win over.
I think it is all good for bitcoin if centralized institutions like PayPal accept bitcoin and other cryptocurrencies

yes, this was the beginning of the mass adoption of bitcoin. We know that Paypal has been widely used at this time, so if PayPal has accepted bitcoin then all PayPal users will see crypto currency and they will buy bitcoin, I am sure after this the price of bitcoin will be even more expensive in 2021.

Paypal is a famous online payments system which really become popular around the world.

I think in that aspect alone, paypal will really help the mass adoption of bitcoin in that feature. Hoping that not only Paypal will engage into this kind of development and adoption. There are a lot of local platforms that should adopt these kind of changes in their features and system because bitcoin is complex and flexible in a way that it can really help a lot of businesses to grow.

Do you think this is the start of mass adoption in Bitcoin? or Nah?

[/quote]
 
   It's a 100% yes from me. If you can see, most African and less technology advanced countries are adopting this means, to make things easier PayPal approves trading of cryptocurrency. It's a great news, and a perfect start for mass adoption of crypto.

If the adoption that we can think like BTC will be used to buy stuff on local stores using our phones, I think it will not really be the level of adoption to be achieved.
We may find out soon that BTC will be like the reserve currency for countries as we are all going to be using digital currencies which governments today are starting to release.

Cryptocurrencies will still end up like investments since no governments will give up their control over a cryptocurrency. But paypal accepting BTC and some other altcoins are good signs of certain adoption.

If you want to exchange your bitcoin for Paypal or your Paypal for bitcoin then it makes sense that you think this is better especially if we take into account your bad experiences in the past, but this is no better in any way than P2P trading, bitcoin was designed to do exactly that, remember? That is the whole purpose of bitcoin, if anything I would like people to do this in a decentralized platform and not use something like localbitcoins since that is yet another form of centralization, however without a doubt it is a move forward, some will like it and some will not but it is always better to have more options in the market even if I am not sure I will ever use something like this.

It's just a start. A lot of people know about bitcoin however, they haven't paid attention to associating with it because they have seen many big businesses take it seriously. As PayPal supports bitcoin, this would really help as businesses who look up to PayPal would start looking into using bitcoin (definitely as a means of payment).

But as how I interpret articles regarding PayPal and Bitcoin, PayPal will just allow purchase of Bitcoin in their network as means of being a third party. More likely, they are aiming for centralization of cryptos. It is indeed a good thing which may trigger mass adoption of cryptos but I doubt people in this industry would engage buying amount of Bitcoin in PayPal. They would more likely still engage to exchanges. One thing is not yet clear, IMO. Will they allow payment using Bitcoin using their network in order to buy things online or to pay services? At this moment I think this is not yet clear because this matter will be depending on the companies whether to accept or not, right?

That is a good thing that businesses are integrating bitcoin in their transaction/system. I learned something new about bitcoin yesterday. The reason that mass adoption is still not viable for bitcoin is because of volatility solely, if businesses are always updating their product prices to get a profit then they are doing things a little more complicated because it takes an additional work to constantly update the prices. Imagine inside stock trading floor where prices are fluctuating every second.

That is exactly what OP had posted. If you check the volume of online financial transactions around the world, then you can find that a large majority of them are associated with online marketplaces such as Amazon, and done using payment processors such as PayPal. If PayPal accepts Bitcoin, then it become possible to make payments in online retail sites such as Amazon using cryptocurrency. From what I have heard, PayPal will make Bitcoin available only from mid 2021 onward, and now they are giving access only to a few selected users. If everything goes as per the plan, then I expect a huge spike in acceptability and adoption.

But there is a catch though. Will PayPal allow users to make payments directly using Bitcoin, or do they need to convert these BTCs to fiat first? As of now, they are only allowing the users to purchase and store BTC.

This is just a beginning, now bitcoin into paypal have opened the doors to people who weren't familiar with bitcoin. As paypal has a wider userbase it supports in reaching the common man with ease than a new network supporting the same. From an article came to know about the paxos exchange is the one that holds bitcoin for paypal. How effective this gonna make changes in the market is unpredictable, but we can expect some positive changes. Even the price growth over the past two days is connected with the news of paypal.

Indeed. I think Paypal will not just stop from that news, and perhaps, Paypal will try to add other cryptocurrencies to their user account, so the member from Paypal will have an option to buy the coins. With a large member come from many countries, I think that can be a good start for Paypal to introduce crypto to their users. Hopefully, that can help the adoption to grow among Paypal's users.

We can hope that the other payment processors can follow the Paypal step to introduce and spread crypto to their members. If that can happens, we will see the mass adoption will come, and the number of people who use crypto will also grow.

Yet what is the effect to the market?yeah we reached $13k maybe from this trend but what now?not enough to make the market hyping again.
But of course i agree that this will comes to become more user friendly since people use to think Bitcoin and crypto as scam.
Now they may have second thought and will research more why Paypal trust finally cryptos.
Hope so because i am not losing my faith that this will happen years ago and now we are finally into real mainstream and adoption can be seen not to far away.
 

I also think that with Paypal starting to accept Bitcoin, this could start a mass adoption of Bitcoin. Because a platform as big as Paypal
definitely has very many users from all over the world and Paypal has cooperation with many merchants. Of course this will give an impetus
for other platforms and merchants to start accepting Bitcoin. Even many Paypal users who are not familiar with Bitcoin are starting to learn
Bitcoin. And the effect is already felt with Paypal accepting Bitcoin, currently the price of Bitcoin continues to increase.

Well, I don't know if PayPal will allow the purchase of bitcoin, payment through bitcoin,  buy bitcoin, or whatever. I just know that their move is positive on bitcoin. As they would make people realize that bitcoin isn't a scam and will also make users research more about bitcoin. As far as they say good about bitcoin, the 346 million users PayPal has would likely hear this.



This is true, one cant keep on updating prices. But one can request for $30 worth of bitcoin (at that particular moment) for a $30 item. So if I sell a laptop for $1,200, I won't ask you to pay 0.092 bitcoin. I'd rather request you pay any amount of bitcoin equivalent to $1,200 (at the moment of that purchase).

Obviously, this would be the start of mass adoption in bitcoin. Paypal is known worldwide as legit online payment. So some users that don't know bitcoin or think bitcoin is a scam would probably be curious about it. Based on what I've seen on their video, they'll create a part on their website to learn more about Crypto-currency, so I think this could be an eye-opener to many people who don't know bitcoin and others crypto-currency.

Awareness reached a very high point some time ago, what we need is to make those that are aware of bitcoin to finally adopt it and to me the whole deal of the pandemic has opened the eyes of many people, they realized that in the case something goes awfully wrong they cannot depend on the government and while there is no link between this new train of thought and bitcoin people are slowly beginning to connect the dots, what if a new economic crisis bigger than anything we have seen during this generation hit us? Will the government protect us or will it protect itself and those in power? And if the answer is the latter then what can I do to protect myself? And bitcoin will be without a doubt one of the answers many people will find to their predicament.

No man. Not about awareness. People are already aware of bitcoin and we all know this. What I'm trying to say is that they were aware and for some reason they decided not to use it. PayPal accepting / supporting bitcoin means that the people who trust PayPal will likely agree to use bitcoin. However, I did get your point.

This could be the start of mass adoption. But I still think that PayPal will not be used the most for cryptocurrencies because they are trying to make people use Bitcoin like a centralized currency (no private key etc.).

Paypal is just like any other business that can decide to accept crypto as a form of payment. To not like this idea because Paypal is centralized doesn't make sense to me. It's not like they're going to run the blockchain.

This is definitely an improvement. Of course, we can expect a lot of snags at the start but it will all fall into place eventually. But, to say that this is the start of bitcoin's mass adoption is kind of an overstatement. Bitcoin adoption has already started years ago and it's a slow pace, which is understandable given the many obstacles that can't be easily dismantled. So, my guess is it's going to take many more decades before we see real mass adoption. Although I must say that multinational companies like Paypal adopting bitcoin will give some smaller firms a nudge. 

but at least with PayPal accepting crypto is a good sign that crypto will be more widely known. this is a very good move of course.

like evolution, it will take a long time for everyone to know and accept crypto. Moreover, there are many pros and cons related to decentralization that are strongly attached to crypto, many governments have not been able to accept this, because they are not ready to face the worst risks.
so we just enjoy this development, while taking advantage of opportunities that we can take advantage of :)

It is not really the beginning of mass adoption but a good way to create awareness. Paypal will executive all transaction within, which look like a centralized control which is against the spirit of blockchain technology.

For me it is surely the start of mass adoption since Paypal is a huge company.
They could be the way to enlighten others to finally accept crypto too I hope next time banks would also follow it,
But using them to store Bitcoin also means centralization so it would contradict the main purpose of Bitcoin.

If we saw big companies are accepting Bitcoin it doesn't mean that we are in the mass adoption. They are just making crypto space for an opportunity to make another business to the growing crypto market and they saw huge potentials to market their services. What it pertains to this situation is that people are now moving into digitalization where Bitcoin is there. They don't want to be left behind as a part of the competition which makes them decide.


That was I thought.
Well, I'm not sure if PayPal is serious this time as heard about rumors before where PayPal is against Bitcoin. Having them welcoming Bitcoin and another cryptocurrency brings some excitement on how it inflates to the market but we can't also make an assurance that everything will be fined.

If you will analyze and dig deeper into what Paypal did, you will know the answer to this.
If you will just base this base on what Paypal did, in case you didn't know you can only just buy and sell Bitcoins to their website. Take note that you can't use it to buy another things and the worse is that you can't transfer the Bitcoins you bought so in short, what Paypal did is they just implemented an exchange like thingy in their platform but worse than the normal crypto exchange since you can't withdraw it at all.

Now to answer your question. Yes it adds awareness to those Paypal users but in terms of mass adoption, I don't think that this is the catalyst of it. If Paypal will add another features that relates to crypto like possible transfer of Bitcoins to another wallet or the like then probably yes.

Well Paypal will only boost just like ads it will help promote but if we say mass adoption nah because Bitcoin already is. Most exchanges supports Bitcoin than any other coins and they are all over the world except those that has strong move against Bitcoin and cryptocurrency in general. There are maybe more companies will soon get involved with Bitcoin in the near future so we'll wait for it.

It's never a late an ideal opportunity to begin, in actuality, you began when you are bound to. Despite the fact that, you may have missed a ton as you have said. For what reason did I say as much? In the event that I hadn't began bitcoin the day year and month o began, I wouldn't have achieved this position. Increasing another position at that point was simpler than now, I realize how long I have been at my current position. What's more, even with the time I began, I did hesitantly, yet today I'm thankful I did.

I don't think mass adoption of bitcoin started now. From my opinion it has been stated many years ago like 2016-17. That was a great time for bitcoin. Many people started to believe it and many business adopted bitcoin than.
But 2020 is the golden era for bitcoin because of the Covid-19 pandemic. Many people were in home and because of the internet they came in to the bitcoin and crypto world. For this many new businesses accepting bitcoin now.

I think PayPal accepting bitcoin was a MAJOR move towards the start of mass adoption.  I think that we have already been well on our way, but this was a massive bump forward in the right direction.  If you know PayPal at all, you're aware they are an immoral, fraudulent company that only cares about it's bottom line.  They in no way shape or form wanted to bring bitcoin or crypto on their platform as it technically goes against their entire business model.  The fact that they added bitcoin shows how far it's dominance/progression has come.  We are on our way to mass adoption, as we always have been, but have a long ways to go as well.

@OP yeah, one of the big reasons me actually leaving PayPal and convincing clients to use Bitcoin is because they made it so difficult for me to actually be a legitimate user (mainly cause of jurisdiction and nationality). It was granted, one of the easier ways for me to get paid and charge clients working as a freelancer but the account blocks and restrictions and constant verification pushed me to find something -- it made it a bit more inconvenient for clients but with discounts for Bitcoin invoicing I eventually worked my way to that.

So I'm not convinced PayPal putting Bitcoin as an option makes for adoption if you can't use PP in the first place!

I think so because paypal is another way for the greater popularity of bitcoin and other cryptocurrency. Also bitcoin adoption already started long time ago, slowly but steadily. Pandemic is also another factor for people to become aware about bitcoin and cryptocurrency.

They aren't the first one to do so. Steam used to accept bitcoin and other crypto currencies. Microsoft accepts bitcoin as a form of payment. Various other well known vendors are still accepting crypto currencies.
Encourage others to finally except crypto? As far as I know, you won't even be able to send crypto currencies to other users from your paypal. All you can do is buy sell and hold. But, yeah the good thing is at least you will be able to use it to buy from anywhere paypal is accepted. Banks are already following the steps. They are taking preparation to try out the new technology.
Along with centralization, you won't have access to your private keys. This means you actually don't own the coins!

Bitcoin really started long time ago since bitcoin is created. Every progression of bitcoin has a big contribution to occur the mass adoption and all of us are doing our best just to make that mass adoption occur earlier than what we are expected. If mass adoption occur early then there will be a big changes that will happen on the whole world in a positive way especially on a financial  way.  It will benefit all of those guys who know how to use bitcoin so we need to study about it.

We can't conclude that it's the beginning of mass adoption but we could consider it as a great improvement for Bitcoin. Paypal still limits its transactions and it still requires conversion into fiat. It's an advantage for most PayPal users and crypto holders. However, I believe that there are still big merchants and platforms that will accept Bitcoin because this adoption is a good start.

It can be also the beginning of mass adoption or pre-history of cryptocurrency industry. Paypal is a popular digital wallet that is use of people around the world. And I am sure that people that is using it will also try bitcoin once it adds on the list. I know that it will become hard at first but let us not judge paypal by it's own identity. It would not be centralizer because paypal never holds the blockchain technology.

i reckon huge markets like the USA are a bigger concern to them, in terms of the anticipated growth they expect from this crypto venture.

rolling out in 49 out of 50 states at launch is pretty huge, re the sheer number of customers all being reached at once. maybe i'm wrong, but this seems like a very powerful advertisement for crypto that every american paypal user is now seeing on their dashboard:

https://i.imgur.com/Mu7PM6N.png

not only paypal, but bitcoin adoption is increasing as the number of crypto-ATMs has increased by almost 500% in 3 years.  Although regular Bitcoin ATMs are associated with very high transaction fees, they are also one of the easiest conversion methods, without the need for crypto exchanges or third-party service providers.  This Bitcoin ATM is distributed in more than 74 countries with more than 551 operators.  If we look at the distribution of these ATMs in different countries, despite regulatory barriers, the United States ranks in the top with the highest percentage of Bitcoin ATMs.  The United States accounts for a whopping 62.3% of the total number of ATMs spread across 3,678 locations.

You reckon right I think, which really is why I think PP Bitcoin adoption isn't that big a deal as most might think, at least only because it limits it to the (currently) biggest economy in the world. It's a big ad for sure, but I'm not sure if 100s of thousands of Americans buying Bitcoin on Paypal actually does anything for Bitcoin fundamentals. Unless they all start withdrawing it to Bitcoin wallets too anyway!

its not about the paypal adoption that we are talking to but its the possibility of mass adoption for btc after this step of paypal integrating btc . you gave example of btc atm but you said the fees for those atm are high , that could discourage people to use btc and btc atm but not all as you said those atm are convinient and other users especially big users will swallow the fact they are paying a high fee just to make instant conversion . paypal on btc can be a solution to escape headache caused by fees .  btc are really undergoing in adoption before paypal takes place  but paypal can be a big help to push it .

Paypal is one of the most popular platforms.

With a hundred million users, I think it could start the step for mass adoption. I couldn't say that it is the start of the mass adoption but I think it is the first step to the steps needed to be taken for Bitcoin to be mass adopted. It still needed to be pushed, it still need that push and not just with Paypal but it needed more for people to believe and actually start using Bitcoin.

It's never a late an ideal occasion to start, in reality, you started when you are bound to. Regardless of the way that you may have missed a ton as you have said. For what reason did I say so a lot? If I hadn't started bitcoin the day year and month o started, I wouldn't have accomplished this position. Expanding one more situation by then was easier than now, I understand how long I have been at my present position. Additionally, even with the time I started, I did reluctantly, yet today I'm grateful I did.

PayPal have adopted with billion people and most country allow for using PayPal as currency payment transaction, many market place website use PayPal for their transaction like Ebuy, if paypal allow for buying cryptocurrency give many people know what is bitcoin and how to get profit in bitcoin as payment transaction and investing. Now waiting for bitcoin which one bigger platform market place will accept bitcoin as legal transaction and not only paypal could using for transaction but also we have option with cryptocurrency become legal payment currency at the future.

But is this information correct? "There is a need to convert into fiat in every transaction in PayPal regarding cryptocurrencies"
This is what I have heard that businesses which are having partnership with paypal will recieve fiat and not cryptos totally. I won't be surprise by the way since there are still companies in doubt with the market price stability of cryptos. This might be a small step towards mass adoption of this technology. Cryptos will be exposed to the masses and more people will be able to recognize this industry.