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Author Topic: [2015-12-01] Bitcoin exchange Coinizy launches world’s first bitcoin-to-PayPal f  (Read 222 times)
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December 01, 2015, 01:19:35 PM

Bitcoin exchange Coinizy launches world’s first bitcoin-to-PayPal facility

Vancouver, British Columbia, Canada-based bitcoin exchange Coinizy announced last week in a press release that it has launched the world’s first bitcoin-to-PayPal exchange facility while also providing the most diversified ‘cash out’ options among all bitcoin exchanges.

The facility was presented by its founder and CEO, Yannick Losbar, during a live demonstration at the Parisian Maison du Bitcoin in Paris, France. It promises to be the fastest, easiest way to convert Bitcoin to fiat money.

“Up until now, 99% of the Bitcoin exchanges only offered the good old wire transfer, when one wanted to withdraw the funds he obtained by converting some bitcoins. This excludes de facto the 2.5bn unbanked people, as well as most of the teenagers, which is very unfortunate since this part of the population could represent the next potential wave of Bitcoin adopters,” explained Losbar in the press release.

“Even among the most financially included part of the population, wire transfers are often perceived as slow (3 days on average for a SEPA wire, and up to 10 days for an international SWIFT transfer) and inconvenient,” he added.

The press release states this is why Coinizy decided to implement seven different withdrawal possibilities, with each one potentially corresponding to a particular use case. Users already comfortable with the world of online payment are, opines the release, likely to choose PayPal and Okpay e-wallets; frequent ecommerce shoppers might want to consider the prepaid, debit-card offers, and frequent travelers would surely appreciate the cash delivery made possible by the Western Union direction.

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