Now PayPal accounts can be funded with Bitcoin

[dollarneed]

I think this service would be good if they could ask paypal to reduce it's fees

That's not going to happen unless PayPal actually have some legitimate competition. Since it currently is the largest e-commerce payment method (aside from CC) it doesn't have to fear anyone else. Not to mention that Bitcoin hasn't really made the huge dent that people originally thought it might - while adoption is increasing it hasn't been particularly huge.

When bitcoin is used within Paypal, as the cost of bitcoin transaction is lower than fiat, Paypal should reduce the fee. If it does not reduce, somebody can come in to compete with Paypal.

yeah agree with it ,and also, paypal should remove their silly verification or atleast,make the verification took short time

Now you can withdraw your money to your bank,without verification
"We understand that access to funds is of great importance to a business, so we have made withdrawals more convenient for you. That’s right, an established seller with a positive selling history, can now withdraw funds up to US$10,000 every month, without having to verify their PayPal account with a card."

i dont know if it works in all of countries, but if you live in indonesian you dont need to verify your paypal with vcc or card to withdraw your balance

[RKing]

yeah agree with it ,and also, paypal should remove their silly verification or atleast,make the verification took short time

Verification is required by the government. So the companies have to follow the regulations. Otherwise, they will be shutdown.

[JeWay]

This is a good news right, cos we can now easily spend our Bitcoin more freely.
Whys some of you guys seems like don't like this news

[LiteCoinGuy]

hope no one gets swindled in the process

Why do you think this is even a chance? We have been selling and buying Bitcoin for one year and had thousands of customers in that time. Not a single person felt they were scammed.

it is hard to build up trust, bitcoiners are careful (some at least   ). but as time goes by you will gain more and more trust.

[iram66680]

At the moment, Paypal and bitcoin are still not "compatible". One is reversible and the other is irreversible transfer.

partially wrong ... verified account of paypal can not reverse payment on a exchange that it allow ONLY verified paypal account. 

verified account : KYC (name, adresse, ...) and bank account provided.

Verified account could potentially pose the same risk as an unidentified account. You can verify an account using a VCC or VBA which is quite easy and open for abuse. Any transaction involving Bitcoin can be reversed if the person calls up paypal and say its hacked.

[TastyChillySauce00]

why I funded my paypal account with my bitcoins? I can not even use my paypal balance in anywhere, but I can use bitcoin where I want. Also I can exchange my bitcoin easily too.

do you ever shopping dude? almost all online shop / stores around the world accept paypal , i've seen just few online stores that accept paypal,that's why its a good news

[yayayo]

why I funded my paypal account with my bitcoins? I can not even use my paypal balance in anywhere, but I can use bitcoin where I want. Also I can exchange my bitcoin easily too.

do you ever shopping dude? almost all online shop / stores around the world accept paypal , i've seen just few online stores that accept paypal Bitcoin [ftfy],that's why its a good news

I hate Paypal so much that I will never use it - mostly because of their arbitrary account freezing, government bootlicking and excessive fees. It's true that Paypal is accepted by many more stores than Bitcoin, but this is about to change. Paypal can't compete against Bitcoin, because Bitcoin is free money that can do everything Paypal can and more with zero corporate overhead.

As a Bitcoiner, I support those stores that accept Bitcoin. If a store doesn't offer Bitcoin payment you can in most cases still use good old wire transfer instead of Paypal. Paypal-only stores are not customer-friendly and don't deserve support.

ya.ya.yo!

[anthonycamp]

soo its every body try to earn money acording to new ideas and a bit of ignorace from the others well its true maybe this its a bit fiasco too i dont know..

[RKing]

why I funded my paypal account with my bitcoins? I can not even use my paypal balance in anywhere, but I can use bitcoin where I want. Also I can exchange my bitcoin easily too.

do you ever shopping dude? almost all online shop / stores around the world accept paypal , i've seen just few online stores that accept paypal Bitcoin [ftfy],that's why its a good news

I hate Paypal so much that I will never use it - mostly because of their arbitrary account freezing, government bootlicking and excessive fees. It's true that Paypal is accepted by many more stores than Bitcoin, but this is about to change. Paypal can't compete against Bitcoin, because Bitcoin is free money that can do everything Paypal can and more with zero corporate overhead.

As a Bitcoiner, I support those stores that accept Bitcoin. If a store doesn't offer Bitcoin payment you can in most cases still use good old wire transfer instead of Paypal. Paypal-only stores are not customer-friendly and don't deserve support.

ya.ya.yo!

Competition will change that. If another company offer similar service as paypal, but using bitcoin and has lower transaction charges, customer will use the other service.

[Kprawn]

So if people start converting BTC to Paypal, less merchants will need to accept BTC directly and the BTC users needs to pay extra fee's.. What is the benefit of that?

We insert another 3rd party into the mix, and make Bitcoin more vulnerable to hacking and security loopholes. When they fail, Bitcoin gets the blame.  

If you are one of those people who believe in financial privacy .... you just added another service to the list of people who will collect your information.

https://www.coinimal.com/faq   

" Our main method for verification is [verify-U] face2face. With this method a webcam-chat with the company Cybits is started, where they check your passport and determine your identity. This takes less than 10 minutes until everything is done. Alternatively you can use our normal verification, where you have to upload a copy or your passport, proof of residence and a "Coinimal"-selfie. "

Support Bitcoin, not PayPal.  

[addy boy]

what the hell is it. its impossible to work two diffrent money processing systems together it doesnt make any sence sounds like it will not able to stay forever .only in somedays it will be like what it is seprated.because people loves botcoin more than paypal

[iram66680]

So if people start converting BTC to Paypal, less merchants will need to accept BTC directly and the BTC users needs to pay extra fee's.. What is the benefit of that?

We insert another 3rd party into the mix, and make Bitcoin more vulnerable to hacking and security loopholes. When they fail, Bitcoin gets the blame.  

If you are one of those people who believe in financial privacy .... you just added another service to the list of people who will collect your information.

https://www.coinimal.com/faq   

" Our main method for verification is [verify-U] face2face. With this method a webcam-chat with the company Cybits is started, where they check your passport and determine your identity. This takes less than 10 minutes until everything is done. Alternatively you can use our normal verification, where you have to upload a copy or your passport, proof of residence and a "Coinimal"-selfie. "

Support Bitcoin, not PayPal.  

Good point. However, verification has always been necessary for exchanging fiats to Bitcoin due to AML/KYC policy. Especially with Paypal, the exchanger carries a fair amount of risk from chargeback and getting their paypal account blocked. Bitcoin would always be popular for fast confirmations though.

[Amph]

what the hell is it. its impossible to work two diffrent money processing systems together it doesnt make any sence sounds like it will not able to stay forever .only in somedays it will be like what it is seprated.because people loves botcoin more than paypal

it's actually true, and they are not a scam, by any mean, they simply sell your coin and give you the money on paypal, avoiding the chargeback, thing, this is why it's not possible to buy for now

[Kprawn]

So if people start converting BTC to Paypal, less merchants will need to accept BTC directly and the BTC users needs to pay extra fee's.. What is the benefit of that?

We insert another 3rd party into the mix, and make Bitcoin more vulnerable to hacking and security loopholes. When they fail, Bitcoin gets the blame.  

If you are one of those people who believe in financial privacy .... you just added another service to the list of people who will collect your information.

https://www.coinimal.com/faq   

" Our main method for verification is [verify-U] face2face. With this method a webcam-chat with the company Cybits is started, where they check your passport and determine your identity. This takes less than 10 minutes until everything is done. Alternatively you can use our normal verification, where you have to upload a copy or your passport, proof of residence and a "Coinimal"-selfie. "

Support Bitcoin, not PayPal.  

before reading your post im just very happy ,but after reading it , it make me worried, im agree with you ,but this news still make bitcoin one step further to becoming popular than before , it have negative and positive side

I am not saying not to use this service.... If you are one of those people, who has no problems with any of these things I have mentioned, go ahead and use it.

We also need services like this to bring in people who has to adhere to AML/KYC regulations and there are millions of them. If this opens up Bitcoin to PayPal and people need

that kind of service... use it. I am just warning people against the negative consequences if we use services like these and neglect Bitcoin growth and merchant adoption.  

[tennozer]

why I funded my paypal account with my bitcoins? I can not even use my paypal balance in anywhere, but I can use bitcoin where I want. Also I can exchange my bitcoin easily too.

do you ever shopping dude? almost all online shop / stores around the world accept paypal , i've seen just few online stores that accept paypal,that's why its a good news

I nmy country, there are a little options to use paypal and I do not to use my paypal account for my neccesities. I prefer to use bitcoin. But you are right paypal is an options to improve bitcoin world.

[GermanGiant]

why I funded my paypal account with my bitcoins? I can not even use my paypal balance in anywhere, but I can use bitcoin where I want. Also I can exchange my bitcoin easily too.

do you ever shopping dude? almost all online shop / stores around the world accept paypal , i've seen just few online stores that accept paypal,that's why its a good news

I nmy country, there are a little options to use paypal and I do not to use my paypal account for my neccesities. I prefer to use bitcoin. But you are right paypal is an options to improve bitcoin world.

Is PayPal restricted in Turkey ? Does not Turkey have any good online shopping portal ?

[RKing]

why I funded my paypal account with my bitcoins? I can not even use my paypal balance in anywhere, but I can use bitcoin where I want. Also I can exchange my bitcoin easily too.

do you ever shopping dude? almost all online shop / stores around the world accept paypal , i've seen just few online stores that accept paypal,that's why its a good news

I nmy country, there are a little options to use paypal and I do not to use my paypal account for my neccesities. I prefer to use bitcoin. But you are right paypal is an options to improve bitcoin world.

Maybe the fees charged by Paypal is lower for bitcoin transactions. As in general, the transaction fees for bitcoin is lower than that of fiat.

[omarabid]

ok, I made a 0.1btc order trying this thing out. Will report the results.

[omarabid]

it'll work only if you have a paypal account that can receive "commercial" payments. The support was very quick to refund though.

[Amph]

it'll work only if you have a paypal account that can receive "commercial" payments. The support was very quick to refund though.

so you need to run a business or something? i'm udnerstading this right? this will be a very high limit...