PayPal to open up network to cryptocurrencies

[jrrsparkles]

This is going to be a long term effect this is just a confirmation that they are going to add Cryptocurrency to their platform but once the platform roll up and once there are Cryptocurrencies transactions on going and PayPal is adding more Cryptocurrencies expect the market to react to that situation, this is the best time to buy for future reaction of the market that this news will bring.

Paypal users trusting their platform for many years now and opening their door for crypto will add investors and users to crypto world .
Imagine how many of those PayPal users will surely study about this market and they might found this as another mode of investment and not just like traditional payment method used in paypal.
so all in all this is one of the best thing we are waiting for years now.

Paypal users may hear about the word bitcoin and also they starts to realize that bitcoin is something can be used by everyone for anything based on our needs on such perspective this is really good for adoption but from the community side, paypal is trying to take advantage of their user's crypto portfolio by controlling their funds and not giving the freedom of decentralized money.

[davinchi]

What I have seen so far from a lot of people who are buying bitcoin from paypal is the fact that it is easier to do that compared to anywhere else. That is the thing about paypal being so important in the crypto world right now, and maybe why it even caused the price to skyrocket to over $13.5k as well with this news, I do not know where they get the bitcoin from or if people buy and sell from each other like an exchange because I haven't used paypal in years and haven't checked the situation, but I can see that ever since they started this, tons of people bought bitcoin from paypal because it was easy to do.

This shows us that "invest into bitcoin" is still something not too easy, if paypal makes it so easy that means other methods weren't this easy and we need to focus on that.

[3meek]

The fact that PayPal has added bitcoin to its service is undoubtedly great news for the whole crypto industry! However, please note that so far you will not be able to send or recieve your bitcoins to different addresses and you will not be allowed to know your private keys...
There are plans to introduce payment for bitcoins in the future, but it will only be a conversion to fiat, and payment by fiat...

[redsun114]

People are focusing on the bad parts of this paypal deal and not enough with the good parts of the deal.

I understand that you can't exchange it with other people like the way you can do on binance, I understand that you can't withdraw bitcoins wherever you want which should be an easy option for paypal to add if they want to. I understand that this is not a pure exchange that you can trade however you want.

I am not denying that there are tons of stuff lacking in paypals acceptance of bitcoin, there is a big room for improvement in paypal right now when it comes to crypto.

However what people are missing out is the fact that the small things you have right now that paypal offers didn't existed a month ago, and now they are there, even those small and lacking additions mean a lot more than not having anything at all like last month and before.

[DustyRah]

The upward trend of the price indicates that PayPal getting comfy with crypto has really helped legitimize and open a wall of investment into it. We can look forward to moving towards the $1 trillion mark.

[slapper]

This is one of the big reasons why we should be bullish on bitcoin, and the recent surge of bitcoin could be a great start already.
We have one of the biggest news this year so far, the adoption that we are hoping are slowly coming with the help of big centralized payment system.

Good luck to us, continue to hold and hope that there will be more big news to come.

In spite of being accepted by one of the biggest companies operating worldwide online payments, the rise in the price of bitcoin does not have anything related to it, from my perspective. First, Paypal only lets people buy and hold their bitcoin within their system. Without sending or receiving bitcoin or even having an address, it is useless to use bitcoin. Second, bitcoin enthusiasts do not like centralization (like me) and there is no point buying bitcoin blindly whenever we hear a nonsense news

Bitcoin deserves better adoption in our daily life. However, this is fine with me. Moreover, I can't stand the congestion in the blockchain network. There will be many updates must be done so as to increase the number of transaction daily. People do not like it when their money gets stuck in the middle of the road

Paypal needs to improve its network for bitcoin and allow users to send their bitcoin whenever they want and wherever they like. If they want to compete with other platforms and companies, they have to look at bitcoin as a real concern.

[shoreno]

The upward trend of the price indicates that PayPal getting comfy with crypto has really helped legitimize and open a wall of investment into it. We can look forward to moving towards the $1 trillion mark.

is that true that paypal is behind of the bull that we felt in btc ? or maybe it has nothing to do with paypal but history are just repeating itself for btc . there are big hodlers that can manipulate the price to move like this but paypal joins with crypto are still a good news . its not important if this news brings an uptrend on the price or not but what important is that we can now use our crypto and paypal more conviniently . the news was on october and we are now on november , its old and the latest from paypal was they are said to create thier own crypto .

[jaberwock]

I can't believe this all started with Paypal getting involved. For starters there are so many people who moved to crypto from accepting paypal payments in their online shops because there are so many troubles with paypal. You could literally sell something and the person who bought it from you could make a chargeback and you would lose both the item you sold but also not get the money for it AND charged with fee on top of that, so it is like a kick in the nuts and because of this situation a lot of people moved towards crypto instead of using paypal.

I however feel like this paypal deal is a great thing for the price (obviously) of bitcoin but I feel like as long as paypal do not stop bad practices in business, it will be a short termed hype that will die down eventually in a month or two.

[3meek]

I can't believe this all started with Paypal getting involved. For starters there are so many people who moved to crypto from accepting paypal payments in their online shops because there are so many troubles with paypal. You could literally sell something and the person who bought it from you could make a chargeback and you would lose both the item you sold but also not get the money for it AND charged with fee on top of that, so it is like a kick in the nuts and because of this situation a lot of people moved towards crypto instead of using paypal.

I however feel like this paypal deal is a great thing for the price (obviously) of bitcoin but I feel like as long as paypal do not stop bad practices in business, it will be a short termed hype that will die down eventually in a month or two.

That's right, PayPal has a lot of negative cases with its users... For example, PayPal can unreasonably block an account with your funds...

Then I have one question - if PayPal doesn't give out private keys to its users, BTC transfers aren't allowed either, maybe your wallet number will also be unknown? Then is PayPal going to buy bitcoins to provide users' funds?

[SirLancelot]

I wonder if paypal has made any profit with bitcoin thanks to these increases as well since they got in. I don't know their system, it doesn't look like an exchange situation, which means they need to have some bitcoin in order to credit that to people and even though there are things lacking in their system like withdrawal and all, they must have some bitcoins to their names.

Considering they started fairly recently and price went up even in this quick period, I would say they probably realized this was one of the best decisions they have made regarding accepting crypto. Plus this means if paypal deals with crypto and profits, that will be a proof how awesome bitcoin can be towards other companies as well, if other huge digital companies start accepting crypto it could be really life changing for us.

[matchi2011]

The upward trend of the price indicates that PayPal getting comfy with crypto has really helped legitimize and open a wall of investment into it. We can look forward to moving towards the $1 trillion mark.

is that true that paypal is behind of the bull that we felt in btc ? or maybe it has nothing to do with paypal but history are just repeating itself for btc . there are big hodlers that can manipulate the price to move like this but paypal joins with crypto are still a good news . its not important if this news brings an uptrend on the price or not but what important is that we can now use our crypto and paypal more conviniently . the news was on october and we are now on november , its old and the latest from paypal was they are said to create thier own crypto .

Both are correct, we can't assume that Paypal really bring this hypes but possibilities that it's open the door of much bigger
pumped to expect within the next coming years.

The good thing for now is because of that adoption many people will see and learn about this investment currency and once
more adoptions take place expect that it will bring stronger run.

[Reatim]

https://www.reuters.com/article/us-paypal-cryptocurrency/paypal-to-open-up-network-to-cryptocurrencies-idUSKBN2761L6?il=0
https://www.marketwatch.com/story/paypal-will-let-customers-buy-cryptocurrencies-and-use-them-for-online-payments-11603283352

PayPal is going to allow buying/selling and even holding crypto on their platform. They will also allow merchants to accept payments with crypto.

I don't know if this is something Crypto community will be glad because as i read replies in topics similar to this?it has been PayPal is the most will benefits from this and crypto users not that advantageous.
Specially when we can find more options than using this payment method.
There are others that we are using before this binding happens and i don't think that this is the settings we have been waiting for long.

The upward trend of the price indicates that PayPal getting comfy with crypto has really helped legitimize and open a wall of investment into it. We can look forward to moving towards the $1 trillion mark.

Do you really think that this trend now are because of that PayPal crypto bonding?or this is about the Effect of US election?

[exstasie]

I can't believe this all started with Paypal getting involved.

It didn't. BTC was trading around $12K when the Paypal news broke. $12K to $16K is a 33% increase, but the increase from the $3,800s in March to $12K (~210%) was much bigger.

This is why technical analysts get so annoyed with the attitude that price only moves because of news and fundamental changes. What really happened is that BTC has already been in a raging bull market for months, particularly after forming the first structural higher high since 2019 (> $10.5K) this past July. The Paypal news may have catalyzed another leg up, but the bull trend was already very well established, and that leg up was bound to happen anyway. It was only a matter of when.