[2016-06-23] PayPal is warming up to bitcoin

[a7mos]

PayPal is warming up to bitcoin


PayPal is slowly dipping its toes in the bitcoin waters.

The company has partnered with Coinbase, a virtual currency wallet and exchange, so Coinbase users can sell bitcoin and cash out to their PayPal accounts. Buying bitcoin isn’t possible yet, but the small integration is a noteworthy first step.
PayPal did not immediately respond to Quartz’s request for comment.

While bitcoin and its underlying technology, blockchain, has caught Wall Street’s attention, consumer tech giants have largely stayed away from the technology until now. Recently, Quartz reported that Airbnb “acquihired” a bitcoin company and its engineers. Other tech giants, like IBM and Microsoft, have been exploring blockchain tech more closely. IBM developed open source code that’s being used in the Linux Foundation’s Hyperledger consortium. Microsoft has been integrating blockchain services into its Azure cloud platform.

http://qz.com/713528/paypal-is-warming-up-to-bitcoin/

[1715670237]

1715670237

[1715670237]

1715670237

[1715670237]

1715670237

[electronicash]

its definitely hard for paypal to gain bitcoin users trust. i would even think they are just partnering up to massively scam users.   
And  of all bitcoin service provider why coinbase?

[BellaBitBit]

They have no choice.  So sick of paypal. who cares what they are doing.

[groll]

That would be a great news for us who were also into paying applications.  All the paying apps rewards are credited to paypal and we have to find a trader for us to have a bitcoin.  Thanks for the information, I would always check my paypal account if there is a bitcoin currency converter under it.

[aso118]

People will want to convert bitcoin into paypal only if you want to immediately spend it.
It would be foolish to hold much money with a provider who can freeze it at will.

[eyeknock]

Coinbase users can sell bitcoin and cash out to their PayPal accounts. Buying bitcoin isn’t possible yet,

ATM is a great news, but it will be perfect when ppl are able to buy bitcoins at paypal, if at least an small % of paypal users start to use bitcoin, then, i have no doubt, this is a huge step forward for bitcoin.

[1Referee]

It's a good first step towards more Bitcoin friendliness from PayPal's side. But then again, I doubt this will have much impact as more and more people are taking distance from PayPal.

[IconFirm]

Bitcoin doesn't need paypal & is a direct threat to the paypal business model.  Good.

Paypal know this, & this is an attempt to extract yet more fees from their poor users. Nasty, evil paypal.