Bitcoin Forum

PayPal is slowly dipping its toes in the bitcoin waters.
The company has partnered with Coinbase, a virtual currency wallet and exchange, so Coinbase users can sell bitcoin and cash out to their PayPal accounts. Buying bitcoin isn’t possible yet, but the small integration is a noteworthy first step.
PayPal did not immediately respond to Quartz’s request for comment.
While bitcoin and its underlying technology, blockchain, has caught Wall Street’s attention, consumer tech giants have largely stayed away from the technology until now. Recently, Quartz reported that Airbnb “acquihired” a bitcoin company and its engineers. Other tech giants, like IBM and Microsoft, have been exploring blockchain tech more closely. IBM developed open source code that’s being used in the Linux Foundation’s Hyperledger consortium. Microsoft has been integrating blockchain services into its Azure cloud platform.
Behind the scenes, PayPal’s been showing signs of interest in virtual currencies. A recently published patent application from PayPal shows the company has explored integrating bitcoin and other virtual currencies like LiteCoin and Dogecoin into physical smartphone payments. The patent application was filed in December 2015.
PayPal also held a hackathon in December, according to multiple sources with knowledge of the event. The purpose? To find out new ways for PayPal to use bitcoin and blockchain technology. The attendees included Snapcard, a B2B bitcoin payments company, Coinbase, and Chain. Developers tested things like cross border payments, merchant processing, and creating a digital wallet using bitcoin.
For bitcoin’s growth, even a slight interest in bitcoin on PayPal’s part would be a big win. PayPal has over 180 million customers and processed $1.4 billion in payments in the first quarter of 2016. The payments giant recently added Wences Casares, CEO of bitcoin wallet Xapo and a renowned bitcoin advocate, to its board of directors in January 2016.

http://qz.com/713528/paypal-is-warming-up-to-bitcoin/

I have been reading this news today
yea only a beginning
starting from USA

might take some time to catch up with other countries
wait and see :)

This is awesome news, about time!

Seems less like a partnership and more like Coinbase will just send you Paypal funds if you request it.  Notice that you cannot buy bitcoin with Paypal, which makes me think there really isn't a partnership going on, but instead just an agreement that they will let you cash out large sums if necessary.

death to paypal, screw em! bitcoins don't need paypal, it's the other way around.  Time will tell. .....

indeed, unless users can use paypal using bitcoins in the bitstamp.
however if fiat dead then so do the bitcoin, that is tha fact so far. bitcoin don't need paypal but yet bitcoin helps teens to spend dollars for something. ::)

think of paypal as of myspace...

where is myspace in 2016 ?

.... ;)

Its an awesome news, if paypal is fully integrated with bitcoin then it will make the global transaction easier, recently coinbase keeps on innovating new way and system to atrract their customer

Yeah, but at the expense of privacy and everything that Bitcoin stands for. 

Look, I know that people want Bitcoin to become mainstream and want everyone in the world to be exposed to Bitcoins; but at what cost?  If Bitcoin is going in on a "partnership" with paypal, how does Bitcoin differ from any other fiat money transfer if it is willing to become somewhat reliant on what paypal has to say?

It just seems stupid to make this once P2P "digital cash" system we once had reliant on the most dictatorship of a money transfer service there ever was.

coinbase was never private.

It's not fully integrated so it seems like this is barely a first step. Really all they're doing is not denying these transactions to go through anymore just solely based on them being cryptocurrency transactions. It's a decent start I guess.

This is huge news!
Even if only in one direction, it is a major step for Bitcoin. I once suffered a 6 months suspension of my Paypal account for the "crime" of (being suspected of) selling Bitcoins (of course the buyer had a great reputation or I wouldn't have done it)

From what I heard, it is only a oneway-thingy. You can only withdraw bitcoin into fiat via Paypal, but not to buy bitcoin with Paypal.

However, it is already half way there. We are in the middle of all the exciting developments!

This is the worst first step for bitcoin.The plan was to Boycott paypal and not support it.I'm not really happy with the teaming up part,still an entire generation of the wealthy elite gentlemen would suffer paying service taxes for the sakes of trading a crypto which barely needs one.Hey what's next ? Paypal buys bitcoin and runs it centrally ? Paypal knows bitcoin is the serious threat for their existence,they wouldn't survive the revolution and hence this massive venture.You can always shake hands if you fail to beat it.Nicely played paypal,you still fuckin suck.

Yeah ,now to match up with their standards ,you will have to pay almost "double" the transaction fees out of which some goes in their own bank and a 20% to miners.I don't think how this is good for bitcoins ,not even slightly.

I think most of you guys saying it's a one way thing are missing the bigger picture, HELLO this is PayPal they use to hate having anything to do with bitcoin, this is a small step but a huge step in the right direction

I mean, I understand that... but I guess I'm just thinking in the "two wrongs don't make a right" type of way.

It just seems that this is just another step for Bitcoin to all governments/corporations/banks to regulate and control bitcoin... idk, I mean different people seem to have different feelings than me in that I think that Bitcoin should be as private as possible rather than as adopted as possible... People only like this news because of the fact that it means that more people might end up buying/selling bitcoins which means more money liquidity; but I for one think that there has to be a better way for getting people to adopt cryptos/Bitcoin.

This is great news for Bitcoin - and cryptocurrency all together. I expect the price to be going up here soon!

I agree, this also spreads the influence of Bitcoin to people who are usually only exposed to fiat enabling them to have easier access to Bitcoin.

Good move by paypal.
Many people are starting to lose hope for paypal since they've had their issues and of course, bitcoin users would choose wallets then. But now that paypal has adopted the use of bitcoins, maybe some of the bitcoin users will use their service.

Was both of your accounts fully verified? This is the first time I've heard a Paypal suspension for a transaction like that.

@ontopic not so much of a progress IMO it's just transferring your fiat balance to Paypal. The selling happens within CoinBase still.

It doesn't really makes any differet fro what paypal and bitcoin is now standing. It will onl be benificial if paypal would allow buying bitcoins through them. Most people buy, not sell, their coins with paypal. I've seen it.

paypal should instead create a token of their own to which its function can move fiat into crypto.

Who gives a fap?  ;D
There are easier, safer and more cost effective ways to cash out your coins (eg Xapo debit card)

Well that is definitely good for customers of Coinbase. But you can't buy Bitcoin from coinbase if you live in Australia, which really sucks. I have to use localbitcoins which is still good.

this is good idea, paypal is largest payment processor, im sure more paypal user will interesting to buying bitcoin with this support

According to the article buying bitcoin isn’t possible yet,  i just wondering why does coinbase only provide withdrawal option to the paypal not deposit option, are paypal scared about scaming, money laundrey or something, anyway i might appreciate this info it is like nice start to paypal embrace the bitcoin, hoping someday they would luanch the withdrawal option, that's gonna be epic.

This just proves that paypal wants to dominate the online payments market.
The last time I heard, they were loosing ground to some other competitors, bitcoin being one of them.

Good move, Paypal. They may not be decentralized, but they're enabling many more people to use Bitcoin.

The best thing about this is the exposure BTC will get, which will hopefully speed adoption.  More people = More Future

I agree with other comments here..to have a large company, that is not doing all that great, potentially using BTC as it's next thing is probably not good.
The amount of time and money they can bring to the table to impose their will on BTC will be orders of magnitude greater than what exists in BTC today.

In 5 years I wonder if we will see this as "The first step in the commercialization of BTC".   :(

haha so finally PayPal realized the threat that bitcoin has to its existance and want s to take advantage of the situation and wants to get on board and prevent its own deletion.

Wow thats awesome, Im hoping to reduce the buying problem with coinbase, Less problem with their system less hastle, And maybe we can put our bitcoins to paypal directly

My only Paypal account was fully verified, and they have a history of suspending accounts if you deal with Bitcoin, so the thread topic is a step forward.

seems a great news,it would be good if I can pay with bitcoin when a merchant enabling their "pay with paypal" feature without signing up to the paypal
taking fee is normal as long not forcing me to signing up on PayPal's shitty site

although this sounds good for those who are using paypal but this doesn't seem to be a partnership to me. you can just cash out the fiat in your coinbase account to your paypal account that is it there is not even any deposit with paypal yet.

Like theter but if they do create tokens which is backed by the fiat they holding, than they will not be able to charge high fee in every transaction and also they can't ban users for holding high amount of fiat.   ;D

So i don't think they will create new token, but as they now seem to know the power of bitcoin and slowly they may also add deposit via bitcoin feature.

Because paypal officially knows regardless of their restrictions to avoid usage of crypto,people are doing it anyway.There is not much they can do to stop it,except make it official.

Why not try to promote bitcoin to an extent where people would no longer need paypal? Every payment system including paypal is replaced by Crypto ? Why do you even give a centralized corporate organisation any role in bitcoins ?To be very honest,I honestly don't give a fuck if coinbase gets out of the crypto scene.Let there be only peer to peer decentralized anonymous exchanges.People are relying on Paypal because they have no usage of bitcoins in the real life,supporting paypal with crypto is not going to help it either way.

Such ridiculously bad news for Bitcoin.. I'd suggest getting in Ethereum if you haven't already..

Hi, thank you for the information that you have shared. I just want to clear something, is coinbased same as coins.ph? Where is their office located or who is its founder. I hope you can share me some info regarding coin base.  Do you think that the partnership of Coinbase and Paypal will increase the value of bitcoins? I haven't used paypal yet because there are a lot of requirements in making an account in it so I find it inconvenient that is why I decided to us bitcoins.

Looks like all these Bitcoin payment processors are selling out to bigger companies. First Xapo and then Coinbase and also Circle. It is clear these people are just in this for the profits and they do not care about pseudo-anonymity. They work with anyone, even companies that are known to farm data for their governments. ^hmmmm^

you can find all that information by doing a quick googling: https://www.google.com/search?q=coinbase
they are a US based service with office at San Francisco, CA you can find their information on their about page.

and i have to say this "partnership" if you can even call it a partnership, is good but i don't think it can affect bitcoin price at all.

Well to be fair, Coinbase had already sold out to, "Classic" (http://www.coindesk.com/coinbase-brian-armstrong-risk-developers/)--they were already fans of trying to commandeer and centralise Bitcoin. This partnership will probably be helpful for some people, I suppose--I've sold small amounts of coin for PayPal credit in the past myself, though these days I just HODL most of what I get and spend (or donate) a little every now and again. Whether you like PayPal or not, it is useful for a lot of online purchases, so having it as an option will probably be handy for some Coinbase users. Obviously you lose a lot of Bitcoin's more interesting features when you go through something like Coinbase or PayPal, but if doing so suits your particular needs, then cool.

Though give it a few years and Bitcoin might well be able to do everything PayPal can do without having to give up your privacy and trust someone else with your money ;)

If its true then paying online for stuff will become so easier where bitcoin is not available.

That's indeed a good news...Normal bitcoin earners like us will now be able to save exchanger fees at least one time.

However, it is sad that my country has not yet been listed in coinbase exchanging service. I still have to use exchanger service from third party. But if it happens, it will be a very good news for small bitcoin earners.

This is a welcome development for Paypal and Bitcoin users. Now it is easy to use and transact bitcoin as it is backup by this big company.Im expecting additional popularity of bitcoin and it will attract more follower and supporter.

This is old news

Braintree (a paypal company) has been allowing merchants to accept bitcoin for quite some time now
i assume they are using braintree for trials with merchants
before allowing merchants and individuals (non commercial) use with Paypal

https://www.braintreepayments.com/payment-methods (https://www.braintreepayments.com/payment-methods)

Braintree connects to your coinbase wallet

This is very good news(if it`s true).I`m waiting for this during the last year.

This will help bitcoin become more popular among regular paypal users,who are not familiar with

the cryptocurrencies.

If this news is indeed true, then this is very advantageous for all of us. Because in this way the users of Paypal will increasingly see the potential and there is a possibility they Bitcoin will start using bitcoin. may news done right and fast

Coinbase’s support for credit cards follows the launch of debit card buys in March, with the service expanding to all 50 U.S. states by the end of April.

hope coinbase can open in asian market too. indonesia is biggest market for bitcoin.

i too agree i am from india and i am also waiting when they will start the credit or debit card for asian countrys,

and i think this news will not affect the bitcoin as paypal service charges are way high then using bitcoin so only paypal will get benefited not bitcoin.

Nice find.

I have read that both Walmart and PayPal have issues with Visa, maybe this gives them a united vision to bypass Visa with their own system?

Coinsbase doesn't want the risk of creditcard fraud when you buy with Paypal. If they are the sending party and Coinbase is trusted, it is safe for both parties.
If they would allow you to buy Bitcoin with Paypal, they would make creditcard fraud very easy, and they would end up paying for it.

Yeah, offering the option to buy Bitcoin with Paypal would just attract people that want to use that service for fraud. I wonder how Virwox manages to prevent that...
Still pretty cool that they're offering payouts to Paypal.

It's a great news!
This partnership will help Bitcoin to get more known. Also, this could make bitcoin price increase furthermore.
Maybe for the next move, we can buy bitcoin with paypal, that would make easier to do transact.

Wow! This is the best news I could ever get and I hope it's not for US citizens only. I hope they can send to Indian PP accounts too and then my issue of accepting PP from unknown users would be solved completely. I hope Xapo also can have this feature so that bitcoin users get some relief.

So what exactly that means for bitcoin users? More domination of Coinbase as bitcoin exchange, more centralization of bitcoin's satellite services?
All I want at this moment is ability to load my Paypal account with bitcoins and transfer it to FIAT currencies in real time. Will I get it?

this is a great news for bitcoin and those users who are using coinbase to trade bitcoin.

that would be so much better if they also add the option for money deposits through paypal also, because there is a lack of trusted service to use for buying bitcoin with paypal.

Even tho Coinbase is shit and they should have gone with Bitpay just like Steam, it's still great for Bitcoin. This plus the Brexit, will keep the price going up, and once the halving kicks in we going 1000+ easy.

This is a very important message. This could bring changes to the way the deposit to paypal. there will be several ways to deposit and withdraw. this time paypal make greater bitcoin.

super good news! this is awsome, love that btc gets accepted on a bigger scale now :D

Yes, but it will take big fees on coinbase because as we know that paypal is reversible service who apply big fees for transaction bitcoin in here. Let's wait and see the proggess for next time.

I think we just need to have a bit of patience until we see 4 figures again.
In 6 months from now on I see a chance this becoming reality.
Regarding PayPal they will disappear over the long run.Why using a middleman when Bitcoin was designed to circumvent those kind of  circumstances?!

It is  a good decision by paypal as now the time of bitcoin is going to start and the other payment processors will not benefit as no one will use other payment system and only bitcoin will be preferred everywhere.

That's good , i am so surprised when i see this good news.
Hope will be happen soon , you can transfer your bitcoin into paypal cash. That's good  ;D

even i never hear about site that you mentioned above,i believe this really happen,paypal start interest on bitcoin since last year,and now they have good partner. and i love this statement i will wait more online payment start doing same thing like paypal,maybe next is payeer or okpay.

This is very good news. I heard that paypal began to cooperate with Coinbase. perhaps in the near future, paypal will start accepting bitcoin, maybe it will make the price stable

this is a very good news in my opinion. this shows the interest of paypal in bitcoin and wanting to share the rewards. but it also seems like they are not yet completely ready to do a full on bitcoin accepting. i hope soon.

Great news,probably i will never use this service but now people who want to exchange/sell their bitcoins have one more option.
Do we know more details about the fees etc. ?

Well this means now that the entire ebay economy could deal with Bitcoin which is a big plus, even tho ideally i would also have liked that they use Bitpay but at the end of the day it's still good news and should raise its value.

Fees will be expensive,  paypal already take a large cut especially when paired with eBay.  Take into consideration that your probably paying over the odds for your btc and then whatever coinbase adds on.  Its a step in the right direction but how useful it will actually be,  only time will tell.

I guess Coinbase and PayPal have made an agreement to offer withdrawals to PayPal accounts only to American citizens at first right? Or people from other countries are eligible to use the Paypal withdrawal option too? I am asking because I don't have a Coinbase account but apparently Coinbase being a US-based exchange it would make sense to launch a pilot project only in the USA. I am wondering if people will need to include these funds received from Bitcoin in their annual tax reports because PayPal is closely monitored by the government no?

I read that article Op posted and I couldn't figure it out, Coinbase and PayPal are partners now, so what?
The only thing that happened is that Coinbase now accepts PayPal (for bitcoin sells) and credit cards (for bitcoin buys).
So please some explain this to me, why this news is so huge? So far it is nothing ground breaking IMO.

It's great news but let's be realistic too. It's just Paypal telling Coinbase they can use their platform for payments. In no way it is paypal accepting crypto. More like some kind of endorsement which is looking at the growth of bitcoin, very welcome. f more and more people start endorsing bitcoin/crypto in general, crypto will grow.

Paypal has no choice but to support bitcoin. Maybe this way they (paypal) may survive a little bit more than expected. They now will try to integrate with bitcoin and maybe reduce their fee too. This is the power of bitcoins and you will see a change in monetary services.
Good News for bitcoin lovers.  :)

Not as simple as you think it is.Open Source Developers and Corporate dick suckers ,there's a bold line we draw between them you see.They are probably a step ahead of your imagination.Making money out of the scheme would be top most of their priorities.I don't see it anyway helping bitcoin.Have Fun paying double the fees.

finally paypal decided to get their hands dirty too. it's about time they did something about bitcoin. it is great.

although i don't like paypal myself but since it is being used a lot it is a good option to be able to use it in a trusted service like coinbse.

I think the paypal took a very smart move to partner with one of the bitcoin wallet service, PayPal already know if their is already threatened with bitcoin this way maybe they can still retain some of their costumer.

Not really as people have usd virwox or LBC to sell their coins for bank cash or paypal. These trades were sometimes risky but now with Coinbase allowing PP withdrawals, they have made this process very secure. If the fee is not high, PayPal will again become the next big payment processor like bitcoins.

Knowing that paypal is the main service used online and now allowing bitcoin market and work with it will make our life easy,because we can spend our money without exchanges,the question is the size of the fee paypal will charge for such service,since nowadays exchanges are handling this alone.

Besides that I am not a big fan of Coinbase is any big company that start accepting bitcoins good news. Till now I don't use PayPal too often but possible it can be really useful. Only the verification of Coinbase and there gamble policy is so hateful.

I personally think this is a good thing and might be a good step towards getting Bitcoin integrated with the fiat system, but I don't think working with Coinbase was the right choice for PayPal. PayPal probably should have gone and started working on their own system, because this means that Coinbase has even more sway within the community due to their connections and everything else.

Amazing news, I just need more Bitcoins :)

If only I could exchange BTC and Paypal without needing a shit ton of documents proving who I am.

What? It's not a partnership if you canot buy bitcoin with paypal, I agree partnership just have relation too in their feature and synchronization. Let's wait and see how the sync of coinbase and PayPal.

I think this is a signal positiv for bitcoin to expand to the outside world. I'm sure many other companies besides paypal which will work closely with bitcoin. I hope it happens fast

I don't think Coinbase would allow a 1:1 withdrawal via PayPal and I'm still waiting for some more information on this. If they would need us to verify our account, it would be same like Virwox and we already have read about delays in Coinbase deposits and withdrawals. Hope everything goes well.

Rest assured that they will ask you a ton of documents asking who you are regarding cashing out via Paypal. I am not from the USA but people from the USA who are using Coinbase are adding their bank account to buy and sell bitcoins there, Coinbase knows who they are as bank need identity documents when you open an account there. Maybe is better Coinbase becomes another Virwox ,cause this way Virvox may not feel anymore some kind of monopoly and lower down their fees.

That makes them safe and their funds too safe. They already know how scammers work and they need to protect themselves from fraud and hence I don't see any harm in them not letting us buy bitcoins. It's a wise decision from Coinbase and PayPal. Hope again it's not restricted to US users only.

I am coinbase user and not a gambler,so i think no problem if paypal choose coinbase as partner,so far i never get trouble for using coinbase,i wish more exchange have partner with other payment like paypal. 😊

I have been using Coinbase for more than a year, I am satisfied with the service that they provide.
I did have go to through a large amount of verification and I am pretty sure they know everything about me, including my blood type.  ;D
My only gripe is the amount of delay they have built into buying and selling bitcoin from my bank. I have linked a checking account and it takes 3-5 days to actually receive the BTC or FIAT. Though the prices, and fees, are set the moment of purchase.
My only hope is that the partnership with Paypal may help out with that but, I am hot holding my breath.

I waiting too, I hopeful with this. maybe be patience for next time and we can see more information about this news. But if easily to buy bitcoin using PayPal and difficult to buying PayPal amount with bitcoin I think I will not be interested with this.

I dont experience exchanging my bitcoin into paypal. But i knoe that you need to give them Many certificates. This event now Coinbase has partnered to Paypal will able us to exchange our bitcoin more easier

you can't buy bitcoin with your paypal through coinbase, i have not checked it myself but according to the news there is no paypal deposit yet they have only added paypal withdrawals to their system. and that is why i said before that this does not look like a prtnership

It has partnered, but the fees defeat the purpose...

But partnering with Paypal now opens up Bitcoin to people who are not so familiar with Crypto. Many people are familar with Paypal and have used it before which is a positive side for Bitcoin. if PayPal trusts Bitcoin it gives people more incentive to trust it.

Does Coinbase only allow withdrawals to verified PayPal accounts? I am asking this because PayPal is known for randomly freezing people's accounts and also if your bank account is connected to your PayPal account they could even dip in there taking out money if they wish so. What if you have withdrawn money from Coinbase to PayPal and from there to your bank account and some problem arises with the Coinbase coins and PayPal freezes your account and takes the funds back. No more irreversible transactions with Bitcoin and no more private data protection. I would be using this service cautiously at first but I have to admit it's good in general for the adoption of Bitcoin over the world.

Two centralized companies working together to join a decentralized world. Er, doesn't seem like the best idea for them or the community. *shudders*

Yeah I don't think the Bitcoin community will be happy with getting controlled by government-owned companies that can spy on you every minute but unfortunately in order for Bitcoin to get more global adoption and to get more mainstream it means it has to give up freedom and become more centralized that's the sad truth. Centralization in exchange for adoption. Only time will show if this will work out for a decentralized system like the Bitcoin network or not, but it looks like the success lies in the hybridization of decentralization and centralization.

It seems that the virtual currencies are the need of time, which is slowly taking over the world in different ways possible. In fact, the world is gradually understanding bitcoin's importance and demand from the young generation because it's the need of the 21st century.

Bitcoin don't need PayPal. I am really surprised why they are taking this decision lately, indeed PayPal will be more benefited.
By the way it would help bitcoin can join the mainstream in near future then hopefully bitcoin will replace paypal indirectly.

well i agree and disagree

its good cause its making bitcoin seem more mainstream and could
help adoption

but I hate paypal and their business practice so I kinda dont want paypal
involved with btc

It is a good news that big websites like Paypal are interested in Bitcoins, it will simplify the exchange, sale of Bitcoins, or buying Bitcoins.
But, especially for Coinbase where before that, we could not pay by Paypal.
There remains only the big companies like Microsoft to accept Bitcoin.

It is to do with customer choice. Coinbase has an interface between bitcoin and the banking system - they've now created one between bitcoin and paypal.

Of course if you could simply pay for everything with bitcoin, you wouldn't need these interfaces - but we can't, the blocks are full, and we need these offchain intermediaries for it all to work.

With this feature that Coinbase introduced I think they just killed some of the exchange at localbitcoins
at least people from USA don't need to hassle anymore with trading their coins for Paypal

When this feature introduced to International this will benefit Paypal, people who stopped using Paypal might use Paypal again and Paypal will gain their user base back, not so green on the other side though :(

Excellent contract   :o ! This will surely increase demand for btc, and the price rally will continue as Paypal is used world wide .

It finally happened and after hearing about this news earlier, I expected that either Coinbase or another wallet would partner with PayPal. Happy that ebay broke the partnership so that PayPal could move on.

I wonder what would be their T&C for these withdrawals and if I can accept it in my own PP account else they may doubt that I have been using their payment processor for bitcoin transactions earlier as well.

Awesome!

As more players join the bitcoin network better for its users. Its a first movement, only to cash out from your coinbase account, for now its not possible to buy directly from paypal. I think that we will see more possibilities from buying or selling directly from paypal, not across other services.

I think for now bitcoin need paypal many people are having problems on their shopping online.
I think this will help users bitcoin. no losses for both ?

I think for now bitcoin need help paypal not only separately to help process payments but help to process the deployment of bitcoin, adoption of bitcoin, and certainly making  bitcoin becomes more well known. I hope that more users of paypal will adopt bitcoin

but i think its not a good idea. paypal need personal identification while bitcoin is anonymous. i think they will have a conflict in  terms of privacy.

This information is great given that transacting bitcoins thru paypal is costly. I hope that the transaction fees this time will lower so I can use again my paypal in dealing with my bitcoins. I look forward to the realization of that project, if that will surely happen the bitcoin industry will be more lively as ever. It will be good news to paypal itself and to u paypal users.

That is awesome!  I have been waiting for this to happen. I am excited of what Paypal and Coinbase can offer. I should be using Coinbase now.  :)

doesn't matter if you really need paypal ,you didn't forced to use paypal either,the privacy will not going to be shared,paypal do this to restrict from fraud activities so as long their client is safe its not going to be a problem

It would be great if they allow users to buy bitcoins with PayPal.

There can be a verification process as well and I would like to trade in PayPal rather than use Virwox that charges over 15% fee. I am glad that PayPal has finally recognized bitcoins and it's the best payment processor for me as the money is withdrawn to my bank.

wow this is an great news if its really will be an partnership then it mean users will be able to cash out their BTC directly in paypal and cash out their paypal balance in BTC as well which will make life a lot easier no hassle to find a gay to exchange and everyone knows its really hard to do paypal to btc

this really awesome news this time and appreciate it.. !

I agree 100%, I have business accounts with neteller, paypal and all the other places, but I never use them anymore. The day I started with Btc, it has been my number one choice/method of transactions.. Its just so easy and simple. At long last!  ;D

I'm just wondering why everyone (or most of them) are really happy because of this, and say these are very good news...
If Paypal will adopt Bitcoin, then Bitcoin will be only one currency in Paypal's system, after USD, EUR, etc....
This means for me, that Paypal won't let their system change (I mean the buyer/seller protection part), so they will develop a system for Bitcoin (maybe a kind of escrow system) to let the Bitcoin payments be reversible in the future (e.g. they will only credit the funds only after a successful transaction, after the watiting period, and for the time, they will escrow the funds somehow, to be able to reverse the transaction, if neccessary).
It's Paypal who will win bigger, if Bitcoin join. Also, Paypal will only accept Bitcoin payment from the users, who has completed the AML, KYC, etc. requirements, so Bitcoin won't be anonymous anymore, if using Paypal.

Last time I heard , they have lost ground to some other competitors. bitcoin is probably one of the competitors of them .
This proves that the paypal wants to dominate the online payment market . Good move , paypal . they may not be decentralized , but they allow
more people to use bitcoin . which a few years bitcoin will become a large company and known to many people . maybe.

All of their said just bullshit . if you know what I mean. PayPal will never adopt bitcoin became their currency because in fact the value of bitcoin is using USD or stand on that. the shitty poster i hated about that.

You can already transact via ACH to Coinbase... What value does this partnership offer? I just see two scummy companies -- one of whom is desperate to deliver any good news it can to its irate shareholders (Coinbase) -- who can't offer users anything new. The last thing we need is more emphasis on merchant adoption. That's a dead end. Bitcoin is about p2p, not interfacing with corporations seeking dollar profits.

As others are saying, it can be a way to expose bitcoin to millions of paypal users that do not know bitcoin yet. And it can be useful for bitcoin users as an easy way to convert their bitcoin to fiat. I would use it if it has lower fees than what I am using right now. And I hope paypal will also allow to purchase bitcoin using paypal funds. I have paypal funds sitting idly on my account because I am waiting for a way to convert it to bitcoin directly without me withdrawing it first.

Yes i heard news about that both are going with partnership, but paypal is not supporting bitcoins means in the form of selling, but it will take lot time to get gathered with paypal, paypal some times act ridiculous suddenly they will drops partnership because it is not static company at all. But now you can easily convert from coinbase to paypal currency easily. But you need to have both verified account for this transaction.BTC

Nevertheless it's a good move for coinbase to have a partnership with paypal because it could help in the bitcoin growth. Though it would be better if people can buy bitcoin through paypal but still it's good that bitcoiners will have a choice in cashing out through paypal because there are others who use paypal to earn in their other source of income aside from bitcoin and they can just cash it out in their bank account in bulk and with much lesser transaction fee. Maybe time will come when we can buy through paypal but cashing out through out is already a big step.It's just one step at a time.

I have bad experience with both parties. PayPal and Coinbase. None of them will support my industries.
The main concept of bitcoin is like "Money without border" (Its TransferWise Tagline anyway). And privacy.

PayPal actualy lose small amount of market after Bitcoin boom. And they aware about it.

I will stick with conventional transaction, like ACH or Debit, or Internet Banking rather than using PayPal in my life. And the worst decission I ever did is Joining PayPal.

This is a really good news because could help new users how use btc and what the advantage of a crypto currencies in their pocket! Good move Coinbase!

Thats a great news because some of store are only accepting paypal as a payment and if you want to buy that you can't use your bitcoin as a currency so that you need to exchange it into fiat then buy that things and it takes time to exchange but this is a great news where its less hassle to convert and to buy paypal to bitcoin > bitcoin to paypal :)

I could imagine a small increase in the price of btc that comes with the publicity so that's good. They're still 2 terrible companies I will continue to avoid though, and would advice you guys to do the same. Paypal are especially greedy and coinbase continually make me facepalm.

paypal aren't greedy,paypal just too strict to their client which make so many people getting dissapointed due to many restriction,i know it's for the sake of security and to prevent from any hacking activities but it'll make using paypal more complicated,although even the rules is this strict,there's still someone who can bypass this so can't say this restriction is useful to prevent any hacking activities

every business is greedy and they need to be greedy in order to earn more money.

and any wise businessman is starting to warm up to bitcoin and take a second look at it with a different perspective, and as they see bitcoin in a different light they start to see the potential so services like paypal wouldn't want to be left behind.

it's not fair then. we can get paypal from bitcoin, but we can't get bitcoin from paypal. I think people prefer bitcoin than paypal today, CMIIW.

so what's the advantages then? it has advantages for those who use paypal, but how about those who don't use paypal?

oh sh*t

Any news about this if coinbase are officially accepting paypal to buy bitcoins there?
I have some funds in my paypal and i would like to use coinbase service if they are accepting paypal for payment..

I still don't see how Paypal is accepting BTC. When I open my Paypal account I can't see option to withdraw or deposit BTC in here and anything else that isn't that is waste of time for me and not that cool. I want to be able to buy in ebay with BTC.

Paypal ain't never gonna offer the pay with btc option.

Coinbase pays out to paypal in usd and that's how it's gonna stay.

Maybe they'll form a deeper partnership at some point.

PayPal is the goddamned devil.


I'm sorry, I'm still quite bitter at PayPal. Think it's kind of butt that they can embrace digital currency now, after having policies that specifically discriminated against crypto users in the past. Untold users on this forum have been burned by PayPal, self included. Not willing to jump in bed with them so easily.

because paypal is not accepting bitcoin YET.
the problem is with the article that OP shared, it is easily misinterpreted.
what i understand from the different news about it and also from coinbase itself, i realize that paypal is not doing anything that is even remotely related with bitcoin the only thing is that "coinbase" will pay you your money ($$$) to your paypal account if you want .

in other words coinbase has added only paypal withdrawal option .

good news
but is true news or only issue, is exchanger support paypal is ready long is virwox
in paypal support bitcoin is i think member can deposit and withdraw is area client membership paypal
iam not use coinbase but i want to ask, is witdhraw bitcoin coinbase is via exchanger marketplaced or via direct wallet

I thought that paypal are now accept bitcoin or we can buy bitcoin right now using paypal..

Virwox is not a good news its an old site which is high rate to exchange paypal funds to bitcoin.

It could just be that they're aiming to make as absolutely much money as possible from commissions and so due to the fees incurred by most other sites, and they use Paypal as their front? I looked at their site and most of the things that are there are still moving in the same ways.

It would be really great news if Paypal allow -with this partenership- that people buy and sell bitcoins using their coinbase and paypal accounts, however things not really clear about this till now

A much eaiser of turning your money (bitcoin) is now a part of an easier way to shop (paypal) then it would surely be a  boost on both paypal and bitcoin. I cant wait for this one to come in our place

if someday this happens and paypal really starts accepting bitcoin themselves instead of a third party who don't really is associated with paypal, then that day would be a great day for bitcoin because ther would bring a lot of people on board.

It is indeed a good news that a financial transaction facilitator giant like paypal partnered with coinbase. But you have to remember one thing, that paypal is regulated by law of respective countries where they are providing service.

So the regulatory authority of that country can track your transaction very easily. So if you want to exchange a good amount of bitcoin, avoid paypal.

Actually it's really good news for bitcoin, but many people still scare to trade their bitcoin into paypal because many scammer out there using paypal to scam bitcoin user.

However if paypal do so paypal may loss most of their customers and merchants overtime because of low fee structure bitcoin have. Merchants will love $0 fee for receiving payments where as customers will love to send and receive fund without any % of fee in every transaction and also no any fear of lossing all you have due to legal issue.

any news? can we buy btc with paypal directly?

I think they dont care about that we know that there is a high for transaction money in paypal but in bitcoin we are just paying low amount fee for transaction.. but the problem is the price of bitcoin is not stable unlike usd in paypal.. so i think they dont care about that if its happen that coinbase will be partner in paypal.. It can not affect that costumers want.. merchant are still want to be safe so they will stay in paypal because of reverse payment and they can start a case or dispute for their protection..

This is good news, but I don't want to be paying Paypal's huge fees for being able to add them to my Paypal account and then to my bank account. Also, I wonder how many restrictions would Paypal have to impose on how this is being done in different countries based on Reserve banks restrictions. Already, in my country the reserve bank has informed paypal to not allow our country users from purchasing abroad unless a credit card is linked. Debit cards don't work either.

Good to know. I wish I had read this information before.

This is good but it still does not offer any support to anonymous web wallets unlike Blockchain.info

Next we will be able to purchase btc with PayPal. Won't be long.

I'm not exactly a fan of PayPal, in fact, I think as far as customer service and relations with their clients go, they are complete crap. Hopefully Coinbase can improve on this but I doubt their partnership will affect anything in their Customer Service departments. Anyways, this is good news. Previously Paypal seemed pretty anti-bitcoin but with this maybe the tides are changing and they are starting to join everyone else in the 21st century. About time if you ask me

Although paypal is not fully integrated with bitcoin network of Coinbase and only Coinbase has enabled Paypal withdraw option, but that day is not far away when Paypal has to integrate bitcoin as a full deposit/withdraw option on the increasing demand of the people.

Great move by paypal.

Numerous individuals are beginning to lose trust in paypal since they've had their issues and obviously, bitcoin clients would pick wallets then. In any case, now that paypal has received the utilization of bitcoins, possibly a portion of the bitcoin clients will utilize their administration.

wow this is a goodnews.. will benefit

Paypal is doing nothing here, just allowing the coinbase to withdraw their bitcoins to paypal, where paypal will once again limit you and control your money, if they dont frooze your funds, even knowing where the money is coming. Paypal has hired xapo ceo as i remember soo some big new should be announced from paypal related to crypto world.

Nopei dont think so. Bitcoin price flactuates and merchants will surely not going to love it maybe few. I think the future of paypal willl gain more customers because they unite

If that so, I will make an account with coinbase!  I actually longing that this thing would happen.  I have sent a message with coins.ph before if they could or if there is anyway they could partnered with paypal.  The response is negative as they have or there is an issue if they will do it.  I will try to read this issue and have some research for validity.  Hope that this is all true.

This news is pretty much one sided.
I mean, you still cannot buy bitcoins with paypal but you can fund your paypal account with coinbase so I do not see a partnership here at all. It's good though that you're able to withdraw your coins from coinbase to paypal easily but I would love to see paypal as a bitcoin exchange site but that's probably not gonna happen just yet.

Before trying to making a conversation about paypal scammer we need to considering about the scammer for using paypal to scam bitcoiners because we know for using paypal is requiring a lot of personal data and it's easy for surpassing their security.

If this news is indeed true, then this is very advantageous for all of us. Because in this way the users of Paypal will increasingly see the bitcoin potential and there comes a possibility that they will start using bitcoin.

For me cashing out your bitcoin from coinbase to your paypal is surely a great move. It is because for me paypal is being used in purchasing items world wide. Coinbase just open the door for bitcoin users to do so

At least PayPal isn't turning out to be the end of Nokia.

sure its not a full partnership but its a good start. Rome wasn't built in
a day and the more implementation the better.

Although I do hate paypal and the way they do business anything that's good
for bitcoin I'm up for.

Knowing that paypal is the main service used online and now allowing bitcoin market and work with it will make our life easy,because we can spend our money without exchanges,the question is the size of the fee paypal will charge for such service,since nowadays exchanges are handling this alone.

that's just it. PayPal is not going to add bitcoin out of the good of their hearts. it is a business so they will be charging you a big fee if some day they decide they want to add bitcoin to their system.

I thought that maybe PP' might be able to purchase BC's when I first saw this. I am new to BC' so am trying hard to find an easy approach to this. Still trying to read up & learn. Want to set up a wallet & account but not sure exactly where to start, or with whom ?

Fuck pay pal, they can jam there fees, why would you bother if you know how to use BTC?

Wow thats a great news because sometimes i use paypal to buy items because i can't even withdraw my money from paypal because of high fees so that i always buy it for items. And now i can use my paypal too to bitcoin bitcoins its like an exchange website now so that dont need to spend my money for items.  :-*

paypal accepted almost in every online shop,that's why,but with bitcoin,we need atleast buy a bitcoin debit cards first to use it in every online shop,even it's can be used to verify paypal account,but still we will use paypal at the end,that's why paypal still exist,if paypal weren't accepted widely,i'm sure they'll bust now

Its a great news, it will make bitcoin user and paypal user easier to do transaction in all over the world, coinbase has make so many improvement for bitcoin, starting from ethereum wallet, now they collaborate with paypal, i hope these positive development keep on continue in the future

Yea , in this way we dont pay fees for exchange sites if we want to buy btc with paypal

We can not actually buy bitcoins with paypal just yet (or we may never actually be able to). It is only that you can withdraw your coinbase funds to paypal directly and that's it. It is actually a one-sided operation so this is not really a partnership. Sorry to disappoint you guys about this news because you guys obviously did not read them.

Now paypal came to know that the future is of Bitcoin and if they deny bitcoin people will deny their services and paypal will die, Paypal was really on the way to death as due to the attractive features of bitcoin everyone was shifting to bitcoin for their transactions, so for their survival paypal accepted the fact that bitcoin is the future of virtual business.

Thats right, only Bitcoin to paypal. Its pretty useless to me but maybe someone finds the conversion Bitcoin to paypal useable. But if it was paypal to Bitcoin then I could finally transfer my remaining paypal ballance to Bitcoin. Not sure why they cannot do it in both directions, probably its too easy to hack user logins to paypal accounts and you cannot reverse Bitcoin transactions.

I dont know till how safe is cashout your bitcoins from coinbase to paypal, as paypal can easy frozen the funds and start a war with costumers and coinbase, but i belive they are aproaching the crypto, they hired the ceo of xapo, soo something is coming to crypto world, atleast is expected.

if they'd already make a cooperation ,your funds will not going to be freeze,it's not breaking paypal's rules so it will went smooth
but i heard that paypal banning any transaction which have relation to any cryptocurrency so yeah,it's confuse me a bit

It's easier and cheaper for CIABase to send funds to your PayPal account than to your bank account. So what, that just helps out CIABase and does nothing for Bitcoin.

When I can go directly to the PayPal website and see a link that says BuyBitcoin let me know because that means something. All this means is one licensed financial institution has an agreement with PayPal to transfer money to PayPal customer accounts. I can send money to your PayPal account right now if I want, with no agreement. All I need is a PayPal account.

You people do realize that just makes PayPal more valuable to consumers, not Bitcoin. Bitcoiners can now see how much easier it is to use PayPal than Bitcoin.

I’m not sure whether or not I’m happy about this or not. I hate Paypal and I think they aren’t very good at what they do. On the other hand I am very fond of Coinbase and how they operate. We will see how things turn out, hopefully for the better!

wow,, This is great news for Bitcoin.
Simplify exchange of BTC to $. facilitate transactions with people who do not wear BTC.

Cheers...  ::)

I haven't know that paypal was on to death well good thing here is that the volume of bitcoin transaction will be much bigger. And also paypal so in the end both paypal and bitcoin users will really benefit alot from it

coinbase not support deposit with paypal
coinbase only support withdraw with paypal

i think not partnership company to company, only coinbase exchanger supporr withdraw paypal

I think bitcoin is gaining so much potential that many gaints and  start up companies had started to adopt bitcoin as a money transfer system along with traditional bank and wallet system it's a plus point for us that we can use either of the system for payment

it is all about the money and it has always been about money.

before when you used paypal to receive money from selling your bitcoins they blocked you because it had no real profit for them and they didn't want to see bitcoin grow and also there are so many scams happening this way with charge back so they wanted to prevent this.

now surely they are charging lots of fees for this withdrawal only from coinbase so it is a win-win situation which is going to make them more money.

Thats true, more and more companies are utilizing bitcoin as payment. They are integrating to thier site, and within a few years we can say that bitcoin is becoming popular as a mode of payment in internet. There are still  market potential for bitcoin.

This is a great news for both Paypal and bitcoin users. I just hope you can buy bitcoin using paypal. And I'll wait to be effective this worldwide. I have a paypal fund and I want to be convert it to bitcoin. This is  more convinient if it done.

That news is 'OK'. Both coinbase and Paypal resemble companies that are extremely controlled and regulated by Government policies, this is one reason PayPal found it easy to partner with coinbase as illegal accounts trading illegal transactions are often frozen or blocked. I don't find it much of an use cause now this depends on what type of paypal accounts can I be able to withdraw my Bitcoin funds to and if there are limits.

Yeah this is a great news even though I am seeing some disadvantages because of Paypal, so I am just looking upon its advantages and this is going to be a good move for the companies that are using paypal they are going to have a chance of using bitcoins and seeing how fast and convenient bitcoins with its services.

This is going to be a good news, I guess paypal is going to have service that they are the one that is going to convert bitcoins into dollar and it is going to make them another reputable exchange site. But I hope they are not going to apply their greediness in bitcoin because if that happens for sure they are going to be on the bottom list of bitcoin users.

Finally paypal is into crypto. It took a long time but we are there. I just hope this door opens a lot of more doors.
Many exchanges should partner up with papyal so bitcoin becomes the true only currency.

excellent I don't know you could withdraw your funds directly to paypal from bitcoin, Although it is a pity that so few countries work with Coinbase,hope this will change in the future to make my changes without the  fear of lost my money.

Well that's good to hear. It help bitcoins users a lot for this.  But we will see the things if it is good that coinbase to be partner with paypal.

Did you try to cash out your bitcoins using coinbase to paypal? 

I think paypal is not going to freeze without a reason, of course, if they want to place a hold on an account they must have a good reason and clear, that occurred to me was that I was scared when illegal funds from paypal then transfer to bitcoin uses cooperation Coinbase and paypal

Jesus Christ, they did not partner with PayPal! Anyone can open an account. It fucking really easy, here's how you do it.

Go to the PayPal website and click Sign Up at the top of the page.
Select your country.
Enter your email address and choose a password.
Click Continue.
Fill out the form and enter the CAPTCHA.
Confirm that you've read the PayPal User Agreement and click Agree and Create Account.

Anyone can send anyone money using PayPal. You don't need to "partner" with them. You don't need to suck their dicks. You don't need a marriage license. This thread is not news, it just means Coinbase opened a PayPal account. Yippee, as soon as PayPal snaps to what they're doing with their PayPal account or the government threatens PayPal they will probably get their account closed.

Oh, if they're sending you money using PayPal they can snatch it back at any time. If you use PayPal at all you're a fool.

I think that this is good because I receive alot of my income through PayPal, I usually end up paying higher prices to convert paypal to bitcoin. If I can buy paypal with bitcoin at the market price one day it will save me a huge amount of money.

I also have some money in my paypal account from some months which I cannot convert to bitcoin because of high price I will like that paypal will also adopt the feature of bitcoin as like other payment processors are doing so that we directly deposit and withdraw bitcoins in paypal.

Well for me this is not good because we all know that paypal is charging high fees and I think they are going to another transaction fees if we are going to have transactions with the use of their website. But on the other hand, I think this is going to be a good way to promote bitcoins for paypal users, and this is going to add the usage of bitcoin and demand.

If you aren't willing to use PayPal, what other methods are there to get your money from Coinbase?
It seems like a very easy platform to buy and sell coins,
but is there any way to actually get the money from your Coinbase account into a bank or fiat currency?

You are correct bro,  coinbase  just  opened a paypal  account  not actually  that they merge on their services and  paypal would not  do these thing after all because   in my own opinion bitcoin would be a big  competitor on paypals  services. Thats why  im not using paypal anymore because  of some  cash back scenarios.

Cash back scenario is one of the reasons why I didn't open PayPal, and probably I never will. That is service and scenario where coinbase have opened PayPal account and you can sell bitcoins for PayPal is not a partnership.
I don't know about governments law about that, and PayPal policy, but there is chance PayPal to turn off their account if they think coinbase is doing something illegal.
Personally I don't use them PayPal, and I don't use coinbase, this is probably just some marketing trick to attract new people.

I don't know if there are other methods anymore to be honest, now that Coinbase has effectively shut down their Canadian dollar wallets. It's been a few months at least since that happened and I remember that they would do bank transfers (I think), but I don't know how many more options there were beyond that. That's all I personally remember, and I don't think I ever used it.