Bitcoin Forum

Would you prefer to buy/sell/store bitcoins in PayPal vs other companies given the option?

I wouldn't. They have reputation for being charge back by buyers. If I was a merchant, I would be scared that the bitcoin paid by customers in Paypal would be returned back.  As a customers, Paypay is accepting bitcoin payment through coinbase, bitpay, not directly processing the bitcoin payment. I would rather choose coinbase or bitpay to buy, sell and store bitcoins.

Easy for me. I don't need to go one exchange to another when I do transactions with bitcoin in Paypal. And I can pay bitcoin directly to the merchants from my account in Paypal if I hold a sum of bitcoin there.

Surely PayPal (and when it happens, eBay) will rely on huge red flag type disclaimers that simply say, "hey, if you pay in bitcoins and something goes wrong, your only recourse is to the merchant, not us".

Don't forget, a very large proportion of chargebacks are caused by people using stolen credit card details.  Not possible with Bitcoin.

this is what i was afraid.

maybe most people see(I initially including), this great step for bitcoin. But i think again at the time, and this condition make me afraid.

Not really, already got stung really hard with chargebacks so I'm pretty reluctant to go back to using Paypal (or Ebay for that matter).

No.

Paypal for me is just a payment processor and I've had way to many problems with them in the past. They might be accepting bitcoins now but I do not see them as a main player in the bitcoin field in regards to providing wallets and the like as most of that will be done by a third party in any case.

Storing my bitcoins with Paypal will just not feel right, will feel like me banking all my cash at the local supermarket and not at the bank.

But it will feel right for the mainstream, and that is more important

This is amazing.
We're watching the push (and pull) of bitcoin becoming gold and cash at the same time.
A store of value and a currency of exchange.

I'm not a big fan of Paypal's business practices - but, their adoption puts some major volume into the system.

People who know my history know how much I despise PayPal. They are not welcome to incorporate bitcoin as far as I'm concerned.

And for what it's worth, I trust no company, none - zero - ever - to store my bitcoin for me. Why would I?

This.

The only way that I would trust a company like paypal to hold the BTC is if our BTC was fully insured against fraudulent purchases and theft.   I don't think they will ever insure it for that.   If they somehow did offer that kind of insurance (just like FDIC), I would not be against leaving a small percentage of my holdings there.    Then you wouldn't have to worry about managing your private keys or keeping track of a tiny piece of paper with the recovery seed.

i agree on that.

its good for the masses but i wouldnt store my bitcoins there.

I think i should have been more careful with my wording, im not suggesting cold storage be moved to paypal but i did say the word storage.

I mean more would you prefer to use them vs other companies for your day to day bitcoining and a little short term storage here and there.

At least they have the assets to repay what they ''lose''

Now for their chargebacks and other ToS scams thats another story and yes they are thief.

Paypal will steal your bitcoins. Dont trust them!

I just wondering if they start accepting bitcoin if they will reopen the accounts that were terminated due to buying and selling btc in the past...

I will wait and see. If their bitcoin services would be favorable, why not? If they offer something better than standard exchange markets I am in. I just need to see it first...

Ill wait and see whats their plan.