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[LittleBitFunny]

PayPal did not do this to serve the people, they actually used bitcoin to promote themselves, I think PayPal is losing its user and losing popularity due to hard KYC rules, and that's why they want to make people's attention at Bitcoin as a medium.

[Expecto]

Thank you for sharing this information with us. I didn't know that PayPal aimed their users to use Bitcoin like a centralized currency. If we are to use it like that, then what is the meaning of using PayPal for cryptocurrencies? Like you said, the news only benefited the Bitcoin price. I don't think there will be too many people use PayPal for this purpose.

[Viscore]

Thank you for sharing this information with us. I didn't know that PayPal aimed their users to use Bitcoin like a centralized currency. If we are to use it like that, then what is the meaning of using PayPal for cryptocurrencies? Like you said, the news only benefited the Bitcoin price. I don't think there will be too many people use PayPal for this purpose.

This is not about benefiting the price but this is how they promote PayPal in the use of cryptocurrency which Bitcoin. We take this situation seriously because this will change the future of Bitcoin and crypto in general. Is one way to make crypto soon to manipulated by a group of people, merchants, and taking control over it. This is a fight that we have not to lose otherwise, we are the one that suffers later while they are milking us.

[Cryptotourist]

With such a company policy and with such fees .... it's a fiasco.

Makes the shitiest of exchanges look like ... angelic.

[Smartprofit]

Perhaps for PayPal, it's just part of a marketing company.  

PayPal top managers have noticed a rise in the price of bitcoin (its price has been increasing since April 2020).  Hype is a necessary part of any marketing campaign.  
The rise in price of the first cryptocurrency is a significant event.  This is interesting to many.

The ability to buy and sell BTC, ETH, LTC, BCH is an informational reason for PayPal advertising.  
High commissions support this theory.

Perhaps PayPal has no plans to trade cryptocurrencies (as part of the business). It doesn't interest him.

[Vishnu.Reang]

Paypal presented the fees for its crypto services.



Well what can I say, the commissions are simply monstrous. Considering that it is possible to buy and sell cryptocurrency only within Paypal, the ban on deposits and withdrawals and a large spread, there is no particular point in using this service, unless only those who simply have no other choice due to any restrictions.

The only consolation is that no fees will be charged for centralized storage of cryptocurrency. Well, at least something.

With such a company policy and with such fees .... it's a fiasco.

I don't understand why you should be having a problem here. Their fee structure looks extremely reasonable for me. For example, if I am purchasing $24 worth of Bitcoin, then I have to pay $0.50 as fee. If I do the same with any of the exchanges, I need to pay manytimes that amount. The median transaction fee is going at around $10 right now. No need to blame them all the time. Appreciate the good things that they are doing.

[sana54210]

How sure are you that their announcement was what led the price to increase to $13,200? Before that their announcement the price of bitcoin was already going up slow and steady, from $9k to $10k, and from there to $12k, so what difference does this one make?

And yes I have been suspecting for long that PayPal might not be a really good option because they are too centralized. I also came across a comment here that was saying something about their fees and whether it will be the same 2.9%. we are not fully sure how this is going to work. And I don’t understand what you mean by we will not be able to exchange the cryptocurrencies stored on PayPal for cash, I don’t think you’re right about that; if you have Bitcoin on your PayPal, you will possibly be able to exchange it for anytime you want.

[DooMAD]

So I am really happy for the news of paypal, and I hope that more companies with their credibility continue to join the crypto world, where the current biggest problem is lack of credibility and insecurity

From what I've seen, credibility only lasts as long as the security does.  All it takes is one hack and suddenly they don't have credibility anymore.

PayPal look to be operating via the "security through obscurity" method, since they haven't disclosed much about their operation.  It's a mixed bag, since it means it should, in theory, be harder to find a weakness to exploit, but at the same time, it means you can't be sure if your funds are really there, because they aren't showing you any information on the blockchain to verify it.

[bgaisha]

I suggest that, due to how easy is it for buyers on Paypal to dispute a transaction and get back their money, people usually don't accept Paypal for Bitcoin.

[Golftech]

Paypal presented the fees for its crypto services.



Well what can I say, the commissions are simply monstrous. Considering that it is possible to buy and sell cryptocurrency only within Paypal, the ban on deposits and withdrawals and a large spread, there is no particular point in using this service, unless only those who simply have no other choice due to any restrictions.

The only consolation is that no fees will be charged for centralized storage of cryptocurrency. Well, at least something.

With such a company policy and with such fees .... it's a fiasco.

I don't understand why you should be having a problem here. Their fee structure looks extremely reasonable for me. For example, if I am purchasing $24 worth of Bitcoin, then I have to pay $0.50 as fee. If I do the same with any of the exchanges, I need to pay many times that amount. The median transaction fee is going at around $10 right now. No need to blame them all the time. Appreciate the good things that they are doing.

Simply that's no  need to explain further, it's business and it's required they are just doing it continue service, nothing wrong or to blame. We should be thankful that they are into this now and more people are now learning this system because of their participation to this chain, just let it go and continue no big damage that being done here.

[SektorPiii]

Given the fees that Paypal asks for, I would only use this service if I had no other choice.

[DECABEATZ]

NOT YOUR KEYS.......... NOT YOUR BITCOIN!!!   MEANING IF YOU DONT HOLD THE KEY TO YOUR COINS THEN YOU REALLY DONT OWN THEM. PAYPAL HAS CUSTODY OF YOUR BITCOIN WHEN YOU BUY IT. WHICH IS NOT GOOD, CAUSE IF SOMETHING HAPPENS AND BITCOIN GOES MISSING. GUESS WHAT??? YOUR SCREWED. YOU WANNA BE ABLE TO TAKE YOUR BITCOIN INTO YOUR CUSTODY ON A HARDWARE WALLET NOT CONNECTED TO THE INTERNET. A USB WALLET THAT YOU OWN AND HOLD ONLY YOU!

[mich]

NOT YOUR KEYS.......... NOT YOUR BITCOIN!!!   MEANING IF YOU DONT HOLD THE KEY TO YOUR COINS THEN YOU REALLY DONT OWN THEM. PAYPAL HAS CUSTODY OF YOUR BITCOIN WHEN YOU BUY IT. WHICH IS NOT GOOD, CAUSE IF SOMETHING HAPPENS AND BITCOIN GOES MISSING. GUESS WHAT??? YOUR SCREWED. YOU WANNA BE ABLE TO TAKE YOUR BITCOIN INTO YOUR CUSTODY ON A HARDWARE WALLET NOT CONNECTED TO THE INTERNET. A USB WALLET THAT YOU OWN AND HOLD ONLY YOU!

This is the big thing that is a concern to me when it comes to digital currencies and specifically Bitcoin. 

If I am not in control of my keys then I dont feel safe and dont trust that something horrible could happen to my crypto.

It is a great thing for our community and Bitcoin to have such a major company like Paypal get on board.  I would never ever consider to use Paypal as a means of buying any crypto.

[bbc.reporter]

Has anyone in the forum tried to buy bitcoin through Paypal? Can you post your screenshots of the interface? Thank you.

I read a news article on Coindesk where it mentioned that users log in twice as much after users bought bitcoin. This might imply that Paypal has gamified the buying and selling of bitcoin and other cryptocoins and have created a new generation of gambling addicts.

Another reason not to use Paypal.

[Renampun]

Has anyone in the forum tried to buy bitcoin through Paypal? Can you post your screenshots of the interface? Thank you.

I read a news article on Coindesk where it mentioned that users log in twice as much after users bought bitcoin. This might imply that Paypal has gamified the buying and selling of bitcoin and other cryptocoins and have created a new generation of gambling addicts.

Another reason not to use Paypal.

'lol' looks like they did some joke data...
we can not confirm whether the claims they say are true or not, for sure I will not buy Bitcoin on PayPal because I  have no reason to buy there, and are comfortable buying Bitcoin on Binance and bitstamp.

[Kocret02]

PayPal did not do this to serve the people, they actually used bitcoin to promote themselves, I think PayPal is losing its user and losing popularity due to hard KYC rules, and that's why they want to make people's attention at Bitcoin as a medium.

So far, paypal only uses bitcoin as a medium to promote paypal so that more bitcoin users switch to paypal? I did not think that paypal was not fully cooperated with bitcoin, only paypal took advantage of this moment. Thank you for the information

[0t3p0t]

I am afraid using such service as one day paypal might freeze accounts for buying Bitcoin which centralized exchanges mostly do. And the other reason is that we are not in control of our coins as they have our keys. That is also one reason I don't actually store Bitcoins or other crypto assets on our local exchanges to prevent funds of getting compromised as they are also prone to hacks.

[Wind_FURY]

NOT YOUR KEYS.......... NOT YOUR BITCOIN!!!   MEANING IF YOU DONT HOLD THE KEY TO YOUR COINS THEN YOU REALLY DONT OWN THEM. PAYPAL HAS CUSTODY OF YOUR BITCOIN WHEN YOU BUY IT. WHICH IS NOT GOOD, CAUSE IF SOMETHING HAPPENS AND BITCOIN GOES MISSING. GUESS WHAT??? YOUR SCREWED. YOU WANNA BE ABLE TO TAKE YOUR BITCOIN INTO YOUR CUSTODY ON A HARDWARE WALLET NOT CONNECTED TO THE INTERNET. A USB WALLET THAT YOU OWN AND HOLD ONLY YOU!

This is the big thing that is a concern to me when it comes to digital currencies and specifically Bitcoin. 

If I am not in control of my keys then I dont feel safe and dont trust that something horrible could happen to my crypto.

It is a great thing for our community and Bitcoin to have such a major company like Paypal get on board.  I would never ever consider to use Paypal as a means of buying any crypto.
 

Plus how can the community be sure that the Bitcoin you buy in PayPal are backed by real Bitcoins? How can we be sure that centralized entities don’t inflate the supply in their ledgers? I believe this can be a threat to Bitcoin as a protocol because it wouldn’t be enough for full nodes to validate the supply, if a centralized entity can “print” Bitcoin in their ledgers.

[Vishnu.Reang]

Although I have always favored direct payments with Bitcoin, nowadays I am getting inclined to using third party services such as BitPay and PayPal (obviously PayPal hasn't started allowing its users to make payments with BTC). Last week, I was paying on average of $10 to $15 for Bitcoin transactions. The fee has spiked to unsustainably high levels. And from what I heard, with ETH the situation is even worse. Now the third party systems such as BitPay uses internal transfer and therefore the fee won't be that high. I am still OK with a fee of $10 or $15. But what if the fee jumps further, to $50 or even $100? I still remember what happened in December 2017, when I paid $50 as fee for a single transaction. I don't want a repeat of that. 

[cyberninja2]

although I hate fiat but for now I will not choose bitcoin for payment the fee is too high and sometime take too long for confirmation, bitcoin is only investment for me