Bitcoin Forum

Since PayPal just announced that crypto trading and payment services went live in the US, do you think PayPal may turn into a big competitor to existing cryptoexchages? They can also launch a crypto-currency trading desk as well, why not.

I don't see this happening to be honest. Centralized exchanges are slowly losing against DEXes, so I don't see how PayPal would do any better. If anything, they're doing much worse than the currently existing platforms by not letting their users withdraw funds to their personal wallets.

And I realize that a lot of people are excited about this, but I just don't see why. Skrill has done the exact same thing some months ago, and no one turned this into a big deal so PayPal should be no different.

I mean, since PayPal already allows the trading of a few cryptocurrencies, then by definition it's already a "crypto exchange".

There's a huge difference though, and that is that PayPal already has 346 million users[1]. While the crypto trading service isn't available for everyone yet, just imagine how much people would have exposure to bitcoin. They wouldn't need to install and register on a separate app for their bitcoin purchases.

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[1] https://www.statista.com/statistics/218493/paypals-total-active-registered-accounts-from-2010/

Agree about 346M users and I myself have a PayPal account, that's a big step for adoption. it's still lacks some features that regular exchanges have but it maybe just the beginning or they can easily establish a partnership (or buy) with some platfrom

I saw in 2017 PayPal was hiring senior blockchain developers for a new project . I still remember that job offer. In my opinion surely they will join when it comes to "online money" knowing the fact they already have a reputation in this marketplace . My only question is if they would allow users to withdraw cryptocurrencies directly from their platform or would crypto will be locked in

It sure does lack features of common spot exchanges, but it has enough to be a sort of Coinbase(not Coinbase Pro) competitor. Basically, quick market buys and market sells in just a few clicks. That feature seemed to be enough for the typical not-super-tech-savvy speculator.

The existing CEX exchanges are not sleeping behind as well. PayPal just exposed Bitcoin to a great number of their users who had previously not heard about Cryptocurrencies. It seems they wouldn't allow users to withdraw Bitcoin to external wallets perhaps they could have developed an idea which can allow that. What are the things this features has that would cease the patronisers of existing CEXs? I don't think that is happening anytime soon.

I don't think this will happen...
if indeed PayPal will change to CEX or DEX why are they so late? if Paypal changes the direction of their business, it's the same they are very greedy. PayPal will only focus on their digital wallet business.

They are making their way to capture the demand of the community and become a new crypto exchange. But the question is how the people respond to their announcement since PayPal is one of the centralized exchanges existed today and we know that most traders are preferred to use DEXes than CEX. That was a challenge for them because even though they are known already to the community but talking about crypto exchanges, traders might not taking this opportunity. Instead, they will choose those who can make them more profitable.

Don't really know what PayPal might be in the future but PayPal gonna take some quite the amount of exchange market share and that's for sure.
It's now the time for exchange like coinbase to compete with paypal and give it all considering paypal userbase is already so huge literally most of youngsters these day have it. Gonna be quite the competition.

however, in my opinion Paypal just there to give a way selling and buying crypto not really become an exchange.

As I observed, Paypal was obviously riding the trend of cryptocurrency. So, as long as they will get a nice profit in the future this thing is easy for them to apply, besides they have a large community all over the world, once they start this crypto exchange for sure some of the crytpo enthusiast will support Paypal especially if they paypal users.

No. Not at all.
For now PayPal seems to work with IOUs, not actual Bitcoin, with no deposit or withdrawal, right?
That's not crypto exchange. And in the (not too far) future they'll use a third party for handling the exchanges (Paxos?).

All in all PayPal doesn't seem to intend to be crypto exchange. They do their usual business and leave others (partners) handle the exchange part.

Going into an exchange doesn't look like what the focus is for now. I think they are more into wanting to bring the use of cryptocurrency to its subscribers and that they have done. With the idea of exchange, maybe some name can be named after PayPal as exchange but maybe not directly from the team but because the name has been made public acceptability.

PayPal is already into the cross border transaction service. Now with the addition of bitcoin it makes the cryptocurrency users make use of PayPal. It won't serve as an exchange as Binance or the other leading crypto exchanges available for trading. PayPal will be mainly used by the people who often use paypal for the purpose of cashing out. Now there is no need of finding a trader to exchange bitcoin for PayPal. One can make use of the inbuilt service.

Paypal is kind of exchange but not a complete crypto exchange because you can't withdraw your crypto funds from there (correct me if I am wrong). Which means you can only ise cryptos from your paypal account and also we know that keep crypto assets on online wallets are prone to hacks so one who knows about crypto may not prefer PayPal for their primary needs.

It's not impossible! Paypal is a big business entity with ample of cash ready for investment. So if they sniff the opportunity to make big money out of crypto exchange business, then I see no reason for them not to start a full fledged crypto exchange!

Probably, they have Similar plan in the pipeline, who knows! Probably, they have just taken an initial step to understand more about the market and later they will come up some bigger plan.

Nothing is permanent is the world of business! One prime example is JPM's u-turn about crypto matters. So I won't be surprised if Paypal comes up with a full fledged crypto exchange platform in future!

this shift is for users in the United States, not for all users, and there is a ceiling of 20 thousand dollars per week, which means that the company will target those small investors who want to make profits and then withdraw them to their wallets.

The positive step represents the recognition of some giants of bitcoin, which means forcing governments to add legislative and accepting it.

I don't think so. But if they want to start, they can do it easily. Because they have well reputed platform and they can use it for various purposes for their clients according to their need. So it will be easy for them to start. The important thing is that it is centralized and now-a-days Decentralized exchanges are getting more traffic rather than centralized exchanges.

No, I don't think they have plan to make their platform as an exchange . They can own an exchange but they will use different platform for that since the website has different use.  If they plan to have it they will surely bought one of the running exchange in the us so they can continue have another  business as one of crypto exchange from us.

Since Paypal reputation was already built for over a decade, that's their advantage against other crypto-exchanges so we can assume they can become a big competitor in the future even there are major issues and problems faced by their customers in the past.

However, the process of becoming a strong and big competitor will take time.

If they will have some good development and lots of new users involve on their platform about their crypto integration, I'm sure they will consider expanding their service across several countries.

They might turn into a crypto trading desk or they may decide to buy other exchanges that has been around for years now if it’s possible for them to do so. And of course with the way things are going now it’s clear that they have plans to be an exchange , because that’s what they are offering already, their users will be able to exchange Bitcoin, Litecoin, Ethereum and a few other top coins.

Before we know it they are going to start adding more and more cryptocurrencies for people to use. It’s soon going to turn into a competition and since they are here now, once they notice a platform that is potential threat they will buy them up.

Centralized exchanges losing to DEXes? No way. DEX volume is drying up along with Defi hype. Not to mention that they aren't really used as fiat gateways. People much prefer Coinbase or Square to Bisq for that. They offer the whole package: UI, liquidity, smooth and fast banking, brand reputation, etc.


Because it has the potential to do a lot for the price.

Paypal is exposing a lot of people to Bitcoin, including millions of people who wouldn't touch spot exchanges. They are also letting people buy without any additional verification. No IDs, utility bills, etc.

It's more than just a news pump. I believe Paypal will bring new demand for BTC that didn't exist before. Sure, it sucks as a crypto platform, but for speculators it's a big deal.

The crypto community wants to be decentralized, users are promoting DEXs and disliking Centralize exchange because of freezing accounts I don't see why we need more CEX because they are like a ticking time bomb.

There will be no need for PayPal to do that, they will just lose the competition but they may allow PayPal users to buy BTC to other exchanges including DEX.

PayPal was not going to attract traders to use their platform if there is but not too many compared to those who are conveniently using old and existing exchangers. I can see these as a hyping scheme and market promotion that they are already a part of crypto but I may think that this is not enough to drag people having them.

Anyway, it is just how big companies taking risks into the crypto space. Competition seems to play harder and that PayPal needs to go along with the competition otherwise, only a few left with them.

Not will be for PayPal as an exchange market for cryptocurrency although PayPal now available for buy or sell bitcoin with PayPal website, there are not will make PayPal as an exchange market I think now PayPal function only buy bitcoin. PayPal is the platform for sending money and receiving money only not will be exchange, PayPal have standing before cryptocurrency created and most long time is not have planning for PayPal to be an exchange market for bitcoin and altcoin.

There is a possibility for this scenario. PayPal is a big company and if they succeed in operating bitcoin, they will succeed in opening its own exchange. Bitcoin is indeed a decentralized blockchain, but many people do not feel comfortable using DEX exchange or an exchange which based on other territories. US citizens might be the most use of PayPal exchange.

I appreciate what PayPal are doing right now to raise people awareness of bitcoin. But I feel fine using Binance and Coinbase for storing my coin and trading. They surely have global customers

I tend to agree, it's totally for awareness purposes and I appreciate Paypal adopting Bitcoin but it will never happen that Paypal becomes a good exchange.  As a matter of fact, this is for the payment processor for those merchants who accept Bitcoin.  Upon purchasing Bitcoin on Paypal you can't even transfer this into other accounts or transfer your Bitcoin into other wallets.  It's clearly impossible to become a reliable exchange as Binance did.

Speaking of a good centralized exchange, Binance still preferable all.  It has already gained a good reputation and have lower fees, I don't think others will looking for other exchanges while doing trading.

I am not sure are you buying some crypto or you are buying some "reflection"! I have seen a few articles, but I admit I am confused! I like to read comments, what some people have to say about it, and looks like PayPal is getting ready to make a new trend with their own rules!
Let me  be clear on one thing I don't have PayPal! I am not going to use PayPal in the future, that's for sure! I like the traditional way, my keys, my bitcoins, and I advise people to be careful when dealing with PayPal/BTC or vice versa!

I think that this cannot be happens, paypal is not supporting so many countries so many users from those countries are not availing their services right now. This can be good if they start supporting the crypto currencies. There are so many sites are doing so like coinbase and others. If paypal increase their network and start supporting other countries then it will be good for their business.

^ I saw it now that they are allowed people in the US to buy and sell cryptocurrencies. Probably they want to follow the steps of the Coinbaset to have an exchanger while they are also a wallet to use in any payment or storing your crypto. Meanwhile, they are supporting BTC, ETH, BCH, and LTC, this feature will get more interest to their users to involve in cryptocurrency. Nevertheless, for those who did not want to expose their privacy, paypal is not the best choice as an exchange.

I had to check the post that indicates the growth DEX against CEX in the market lately and It was surprising. Uniswap ($500+ million) and Curve Finance ($80 million) almost made a billion dollar daily trade. These are both new DEX market, less than 3 years and the trade is more than the 2nd daily trade exchange of Coinbase (over 8 years). Beside, the data on DEX traded volume is more reliable than most CEXes with fake volume.

I think they'll do a perfect job as a centralized exchange and will be bringing alot of competition to the industry especially to the leading exchange like Binance that have seems to relax after taking the stand as the best exchange in the industry. Paypal got the volume to back their choice of becoming an official exchange and it might just been one of those blessings in disguise story as it'll be bringing alot of credibility to tbe industry.

But the downside to this is the regulations and restriction It'll be introducing due to it too much centralized mode of operations. The government might seize their opportunity to take control of some major decisions making like which coins gets the most attention as definitely coins that'll be newly listed on their exchange would gained a lot of attention due to the volume they'll be recieving just like we experience with Binance way back until greed step in and now they list anything listable.

There are already exchanges that strictly require KYC like bittrex, so no difference than PayPal here. But I believe, this PayPal will turn to a crypto-exchange soon, once they found out that they will have clients that will be interested in crypto. And also, I believe they will be adding more popular crypto aside from those 4 cryptocurrencies. So yes, I do believe they will slowly be converted to a crypto exchange in the future.

I don't think they will actually do that. PayPal has created good will in terms of fiat payment services and I'm sure they will keep that as primary of their service. But, ultimately PayPal will start to offer services like fiat to crypto and crypto to fiat. I don't think it will be sort of trading. PayPal has ties with banks and banks in general don't like crypto.

This might be the next big step that they will do. Aside from being an exchange, they've given an ease to their users that don't want to try any other exchange or those first timers that are still in doubt of crypto.

They just made their lives easier. Having them launching their own token could also be big for them and will generate them profits. The first benefit that token would be is to give discount in fees just like other exchanges who own native tokens.

We are taking it too far but actually this can happen if they would consider that creating one will really be having that revenue which they might really be ending up with
that scenario.For now they had just accept bitcoin but i dont see the feature that most people do really need.It only integrate and put up some option but you arent
really having the same experience comparing on traditional exchangers we do have.. In talks of reputation then i can give that yet nothing beats out
the one that had existed for a while now compared on current exchanger at the moment.

I also once believe Paypal will be a competitor to the existing centralized crypto exchange site but that change after I read some messages posted on Reddit about what Paypal is really offering which was said to be different from crypto activities because the whole process is done in fiat and users are also unable to withdraw their crypto. However, Paypal may be a competition to other centralized exchanges if they change all this process and operate just as crypto exchange does.

Paypal is now finalizing their adoption into crypto and they are soon to be called crypto-exchanger. What we could expect from them? Because I feel nothing new, and I'm not sure if this could help to drag other traders to use their platform( I hope they will). And leaving into kind of competition nowadays, it's a need for PayPal to make a step, otherwise.

But this adoption isn't making a huge impact on the market and not the cause of the uptrend motion that Bitcoin had today. I consider this as just a normal scenario, nothing more.

Well, I think there is. As we can see, the bitcoin price was plunged up to $16k at the new ATH and it could be one of the reasons for increasing the price was the Paypal adoption. Though I also not convinced them to use it because we know that we are very concerned about privacy unless -- other users are not. There are too many exchanges as of now that offer buy and sell cryptocurrency without having full KYC, perhaps let us wait for more time if there is an improvement in their service. However, I appreciate Paypal's adoption of crypto, it will bring massive adoption and it brings more awareness to those bitcoin investors.

Yes, they have been trying to acquire a crypto asset custody firm such as BitGo or Paypal could buy other firms.
Since PayPal is new in this field, they require a subsidiary to take care of these things. It would be better if Paypal can overcome their shortcomings and has features like regular exchanges such as trade and withdraw cryptocurrencies with lower fees.

Why not, they have the money they have the market, they have millions of clients, what would stop them, I have this believe that they are doing a big shift from embracing Cryptocurrency to the fullest and setting up an exchange is not a remote possibility, they do have the resources to make this happen, Paypal entry to the Cryptocurrency by adding it in their platform is just the start and I don't think they will stop there, the technology is young and there are so many things to explore.

No one can guess what will happen to the future of Paypal. But if you see Paypal as a big platform, of course they will think to develop
their platforms even bigger. And I think they accept cryptocurrency now just want to test their users, whether many are interested in
cryptocurrency or not. Therefore, currently Paypal only allows cryptocurrency transactions only on their platform, and only for American
citizens. So if crypto enthusiasts are high enough on their platform, I'm sure Paypal will become a centralized crypto exchange.

Paypal is not a trading platform, paypal is a digital wallet and is now integrated with Blockchain,
that's why they accept cryptocurrency, their system is the same as other wallets such as Myetherwallet or Blockchain.com.
and don't compare it with a trading platform, it's obviously very different.

If you look at the current conditions, it seems impossible for Paypal to become a new crypto exchange, Paypal's purpose as a become third service
facilitate transactions between customers and merchants. Not as a platform for trading, so in the near future it is unlikely that Paypal will become
an exchange. But in the next 10 years it is possible that Paypal will change its mind and Paypal becomes a crypto exchange, if the development of
cryptocurrency is getting faster. And Paypal considers cryptocurrency profitable.

What happens if I can't gain the custody of my purchase? Any advantage to this and for how long will the wait to gain the custody of my bitcoin?

No not possible. I don’t think it will happen anytime soon. We can just simply deposit Bitcoin, Ethereum, Bitcoin Cash and Litecoin and hold it, but Paypal has the custody of our assets. They have a history of freezing accounts without any reason. As the old man said, “Not your keys, not your coins”.

Anything can happen mate, they can choose to freeze user fund cause they can raise any restrictions or rules and you have no choice than to dance to their tunes.

The only advantage I see now is that will help cryptocurrency gain more awar, hype and trust within the institutions. Nevertheless, no one know if the Paypal will change their mode of crypto operation but I think some of their services will change next year when their crypto services are spread outside the US.

paypal is indeed a well-known wallet in the world of digital currency, and has been used almost all over the world,
indeed that is good news for cryptocurrencies, because platforms like paypal want Bitcoin to be in it,
but if you think paypal will be a place of exchange as well for now paypal won't Having said that,
its enough to send and store bitcoins in my opinion.

It is not really an "exchange" as we know it. They are acting more like a crypto bank and I am fine with that. As far as I know you cannot withdraw bitcoin from there, but you can keep buying and investing into bitcoin and you do not have to worry about withdrawing because if you really want to withdraw you could just cash it out to dollars and put it somewhere else.

If your desire is to move to fiat you can do it there anyway and it is very quick, however if you want to move your bitcoins at paypal to some other crypto place, you would just have to cash it to fiat on paypal first and send it to wherever you need to in any crypto exchange and buy bitcoins with it. It would take some fee's to do this but you can still do it. So it is not really an exchange, but more like a bank.

Honestly if i say, i don't think so it could be happen. No doubt paypal is world largest user base, fastest transaction maker and most secure internet mobile bank. When they add crypto currency swap option no doubt its a biggest news for crypto user now they can exchange their money from the world most trusted source. But i don't think so that PayPal could be a future crypto exchange because paypal already popular for general currency and crypto exchange need lots of option like lots of trading option which is p2p, future and more. But they can't do this with their mobile app because people use paypal for their simple interface if they turn this into crypto exchange then it will be difficult for simple paypal users who dosen't like crypto. But if they want they can launch another separate apps or site for crypto. But for now their spot swap option is best because It's 0 swap fees.

That's what I am thinking here. They will create a separate tab maybe or site to dedicate their exchange feature, if in case they will explore this opportunity. But the likelihood of setting-up their own is high. They will start with 4 cryptocurrencies right now, but if they will see the advantage of having internal exchange within their platform, they may eventually create their own. As some users will convert their crypto from one alt to another, depending on their needs or consideration like transfer fees, if they will see this need, they may create their own.

As you can see, they didn't open an exchange immediately but are using another exchange as a medium to buy BTC for their customers who put their money in crypto through PayPal (at least that is what they wrote in it). Now, it's impossible for PayPal to match the total number of BTC's demand for their wide range of users which is why they are not allowing us to withdraw our crypto but just keep it inside, see it and sell it when we see the value increased. Do you really think they are looking into any such business like entering an exchange business, that too crypto? I don't think so.

yes, that's my thoughts too, they have all the means and a lot  of money. Of course they don't reveal what's in their pipeline, despite of many rumors lont time ago they always officially denied any involvement in crypto-business.

I think it's a trial step for PayPal and they may continue to develop further with broader features and functionality like full crypto-exchange if they see a good opportunity.

True, I read some stories about how PayPal froze some accounts without any reasons, I wouldn't trust all my crypto to 3rd party custody.

Well, pretty much all of the exchange cannot be totally trusted, and every exchange has the power to freeze your account. The moment you send your crypto to an exchange, then those crypto doesn't belong to you anymore automatically.
If PayPayl completely operates as an exchange, it will fall under the centralized exchange category, and I don't think a lot of crypto enthusiast would like to engage with centralized exchange.

I don't see PayPal serious enough about the cryptocurrency market to turn into some sort of centralised exchange. The reason for this is that in my opinion Paypal added the ability of its customers to buy/sell crypto only as a "face" and to ensure that if crypto does end up handicapping the finance industry (which I think at some point in the future is inevitable) they will have a stand in it and won't be missing out.

Even if they were to adopt something like that in the future it won't make it any different from a centralised exchange like eToro, and definitely not close enough to DEX.

Yes why not ,They already accept crypto as transaction way .The door has just opened many more are coming .If they open a trading desk they could open a exchange as well .So we have to be patient and see what are big coming with Paypal.

Decentralization exchange was never in the picture as that'll be impossible to pull off. Everything about paypal points to centralization and if they were to adventure into the exchange industry theyll be doing it the centralized way and been more strict than what we're currently experiencing with other centralized exchanges.

There's money in the exchange business and that'll be one of the perfect avenue to profit from the industry which is what paypal is just after as their recent move is just money motivated and not to bring about development to the Industry but still they'll be bringing that indirectly.

Already they're becoming an exchange, you can buy multiple alts and not just Bitcoin, with time they'll realized they can make more profit if they introduced new tokens and slowly they'll turn their platform to a force in the exchange industry.

of course it can happen, nothing is impossible especially paypal has just announced that they accept crypto. if paypal opens a trading table it is possible that the crypto world will continue to grow, many companies will be interested because paypal opens its trading table. i would say binance will soon gain a very strong competitor

The decision of Paypal to join in the Cryptoworld is a great news for all of us.

Paypalgoing to bring crypto to a much larger audience, so the coin´s price will increase.

I also Think that Paypal will not have any other key point that this, Exchanges and decentralized platforms will continue to growth and growth.

That's what I was thinking too because PayPal's crypto-transactions have skyrocketed since the announcement so Binance may smell a competitor soon.

In my opinion what will make them different from eToro is their 364M users, of course not everybody is interested in crypto at the moment but it's a huge pool of clients with downloaded PayPal apps already

Maybe, but I won't trade there and won't recommend anyone else as long as I have another exchange that I think is better. I guess they will apply the rules too strict given my experience with paypal. Sometimes I don't understand about the new policies they publish and how to implement those suddenly. Paypal will be the most centralized exchange you will ever have.

PayPal is not new cryptocurrency and only have function as payment way, you can try to but Bitcoin and altcoin with paypal but you can sell or sent your bitcoin balance in paypal to exchange account because paypal is not crypto exchange. Not will be crypto exchange for the long time because PayPal is currency payment platform with support USDT. PayPal not get risk to be cryptocurrency exchange because have any country still not accepted with bitcoin and altcoin then they will not change his platform to be an exchange of cryptocurrency, better to be PayPal platform as payment for many people use PayPal to make transaction from one country to other country.

Profit-hungry PayPal can't challenge existing exchanges as they can't just provide cheaper trading. They cut 7% in currency exchange which is leading customers to shift to other competitors like Payoneer or Xoom. The only advantage is a wide spread of PayPal. However, in the end, it helps in cryptocurrency adoption process.

Yeah, seem like it is another intention for them to accept bitcoin and crypto currency. I think there will be many people who will aware against bitcoin since paypal accept them. Moreover with its price is rising now and soon we will see the previous all time high then there will be many new people will come because they want a huge profit.

Other than that, making a crypto exchange should have a good reputation. As you can see now, there are plenty new crypto exchange which are not successful to be choosen by most trader because they don't have a reputation. And it is a good start form paypal, they have good reputation so they can easily attract new investor.

They will certainly not become a crypto exchange, but they could very well be considered a crypto wallet right now and they could move further and become better at that. Right now they are not even a proper wallet, sure you could accept bitcoin as payment thanks to paypal nowadays, but you can't withdraw bitcoin for example because that would mean a lot more coding a lot more regulations so they are not doing that, they could add that as an option for example.

They are not dealing with too many altcoins, so they could potentially add a lot more coins as well. Having a ton of altcoins and having the chance to accept crypto, buy crypto, sell crypto and deposit or withdraw crypto, these are the things paypal will have in the future with bunch of coins, that is all I see them becoming.

Paypal maynot become the biggest crypto exchange but it can become a biggest marketplace place of crypto payments in near soon because the customers of Paypal is literally very huge so when people find using cryptos is easier than fiat then they will prefer keep using it which also increase the merchants and products which can be purchased by cryptos.

There are a lot of differences between Skrill and PayPal. First of all, PayPal is on another level. Alone the fact that it's accepted on eBay means a lot along with the fact that it was founded by eBay. Skrill has 35 million users while PayPal has more than 305 million active users. Almost 10x difference means a lot.
PayPal has a great reputation too, not much among merchants but high among its users who use to as a payment method. In overall, it looks like the steps into crypto is done by the leader online payment service provider.

Personally, I think that paypal's aim should be this, to become the leader in crypto industry. They can't be the best exchange right now because Binance is the leader in this case and has the best resources available in the crypto world to be the number one (for example, they own coinmarketcap.com that had 200-300 Alexa rank during peak times).
Maybe they aim to be exchange too but right now I think they want to be the leader payment service provider that accept crypto payments and conquer this field in the crypto world.

I will NEVER prefer PayPal at all, so even if they come up with Crypto Exchange, I am definitely not going to buy in at all, they are one of the worst options there can be without any doubts!

^ I see there are many who don't want Paypal to be an exchange. when talking about opportunities, of course, there are opportunities for Paypal to add their branch of business that is a crypto exchange.

I am sure PayPal accepts Bitcoin on their platform just to see how much potential their service is seen by users, most likely if more and more people buy Bitcoin on PayPal then can be sure PayPal will become a new exchange.

What do you mean you can't withdraw bitcoin on Paypal?

With the fact that Paypal now supports buy, sell, withdraw bitcoin, they can now be considered as a crypto exchange. Although yes, it's not available to anyone and was limited to US customers for now.

The demand for bitcoin is so high on their platform to the point that they need to increase the weekly limits on purchasing BTC. Take note, it's only available for limited users so just imagine what would be the impact if they will add more supported countries.

Having the same input and belief that they are really just trying out to be up to date on whats the current trend as of today in terms of finance industry
yet crypto is taking some consideration at the moment and of thinking to be their biggest competitor then rather than on making oppositions then it would
be wise for them to adopt it instead of countering it yet this is also some sort of marketing yet it do boost up once again their platforms existence
but in talks on become some centralized exchange ? yes they can but as said this will just remain like on that eToro.

Honestly, you made a really good point here, only the amount of users PayPals has is way more than the best crypto exchange (binance) has,no doubt it will definitely give bitcoin the kind of exposure it needs to become a global currency, PayPal will be able to reach out to more people than the crypto exchanges could, there by increasing mass adoption of bitcoin, and on top of that making buying, selling and holding of bitcoin much easier, cus they can do all those on just one platform.

Actually you had miss the goldern opportunity from my point.Now blockchain had became a basic one in our life.Because we are using bitcoin for the investment,trading and for money transaction to buy and sell of new product.This made the paypal to accept the cryptocurrency.

Well why not, but it's to early to tell that, they've just started, they are in a water testing period, they have the right thing of integrating Cryptocurrency in their platform and the timing is right, just when Bitcoin and the market is going up.
After one year and if they have good success, they can think of anything to expand their market, and setting up a Crypto exchange is the next big thing for them.

If we could use them to buy and sell crypto then I think we could consider them as new crypto exchange.
We could see them as new crypto wallet with the features of trading crypto into Fiat not just to hold our crypto.
And for me the best part there is if they could let us use it to pay just like Fiat in all of the transaction that we would do on their service.
For example if some stores doesn't accept crypto and we paid through crypto they could instantly convert it into Fiat to make sure that our payment would be accepted.

Since Paypal's network is now accepting cryptocurrencies, you can now buy and sell cryptocurrencies like bitcoin, ethereum, bitcoin cash, and litecoin can be considered as a new crypto exchange because you can convert your crypto into fiat and vice versa. But you can say that Paypal is only a digital wallet or storage of your cryptocurrencies.

There's a high chance that Paypal's become a big competitor of existing crypto-exchanges. We all know Paypal is one of the most used for online payments worldwide. They already have the trust of its many users worldwide, so we can say that Paypal would become a big competitor of existing crypto-exchanges. And if you have the money on your Paypal account, would you buy to another existing crypto-exchange, or would you buy directly to Paypal? Most user prefers the less hassle transaction and safety transaction.

Paypal is by any means NOT promoting cryptocurrency at all they just going to reap the benefit of adopting cryptocurrency as well as increasing their user base coverage to crypto community which holds tremendous amount of people and it's just happen that cryptocurrency got more exposed to the world because of the news about the adoption by paypal. Not that I'm skeptical but paypal will more likely to do just that, being a payment processor is always their goal and I don't think they ever gonna be a crypto exchange. Big corporation like paypal usually restrained with complicated regulation which is why they gonna think twice before switching over to provide exchange service. I mean, if they really want to create an exchange for crypto they better creates different company for that under paypal umbrella right?

Nah, Bitcoin on PayPal is very limited and I don’t think it’s something a lot of people would like, especially for those of us that uses Bitcoin for a lot of things including transactions on a daily basis and also investment.

When it comes to PayPal you can’t do anything except to just buy Bitcoin and hold. Your Bitcoin doesn’t leave the PayPal platform and it doesn’t leave your PayPal wallet, which means you can’t send it to other PayPal users, it just sits there and you will be speculating on prices and nothing more, till the time you want to sell it, and they will sell it for you and convert it to USD. So, a lot of us are not going to like it.