Will PayPal be a new crypto-exchange?

[Psynthax]

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.

The opportunity does exist, but for now paypal is still focused on promoting cryptocurrency on their platform,
it is not easy to make an exchange platform, because we know there is Binance which is its main competitor.

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?

[doomloop]

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.

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.