Coinbase has partnered with Paypal - Officially!

[jakelyson]

Bitcoin don't need PayPal. I am really surprised why they are taking this decision lately, indeed PayPal will be more benefited.
By the way it would help bitcoin can join the mainstream in near future then hopefully bitcoin will replace paypal indirectly.

As others are saying, it can be a way to expose bitcoin to millions of paypal users that do not know bitcoin yet. And it can be useful for bitcoin users as an easy way to convert their bitcoin to fiat. I would use it if it has lower fees than what I am using right now. And I hope paypal will also allow to purchase bitcoin using paypal funds. I have paypal funds sitting idly on my account because I am waiting for a way to convert it to bitcoin directly without me withdrawing it first.

[1714860621]

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[btcdiggingmaster]

Yes i heard news about that both are going with partnership, but paypal is not supporting bitcoins means in the form of selling, but it will take lot time to get gathered with paypal, paypal some times act ridiculous suddenly they will drops partnership because it is not static company at all. But now you can easily convert from coinbase to paypal currency easily. But you need to have both verified account for this transaction.BTC

[entrepmind23]

Yes i heard news about that both are going with partnership, but paypal is not supporting bitcoins means in the form of selling, but it will take lot time to get gathered with paypal, paypal some times act ridiculous suddenly they will drops partnership because it is not static company at all. But now you can easily convert from coinbase to paypal currency easily. But you need to have both verified account for this transaction.BTC

Nevertheless it's a good move for coinbase to have a partnership with paypal because it could help in the bitcoin growth. Though it would be better if people can buy bitcoin through paypal but still it's good that bitcoiners will have a choice in cashing out through paypal because there are others who use paypal to earn in their other source of income aside from bitcoin and they can just cash it out in their bank account in bulk and with much lesser transaction fee. Maybe time will come when we can buy through paypal but cashing out through out is already a big step.It's just one step at a time.

[didjital]

I have bad experience with both parties. PayPal and Coinbase. None of them will support my industries.
The main concept of bitcoin is like "Money without border" (Its TransferWise Tagline anyway). And privacy.

PayPal actualy lose small amount of market after Bitcoin boom. And they aware about it.

I will stick with conventional transaction, like ACH or Debit, or Internet Banking rather than using PayPal in my life. And the worst decission I ever did is Joining PayPal.

[dreamsorcerer]

This is a really good news because could help new users how use btc and what the advantage of a crypto currencies in their pocket! Good move Coinbase!

[renem]

Thats a great news because some of store are only accepting paypal as a payment and if you want to buy that you can't use your bitcoin as a currency so that you need to exchange it into fiat then buy that things and it takes time to exchange but this is a great news where its less hassle to convert and to buy paypal to bitcoin > bitcoin to paypal

[isvicre]

I could imagine a small increase in the price of btc that comes with the publicity so that's good. They're still 2 terrible companies I will continue to avoid though, and would advice you guys to do the same. Paypal are especially greedy and coinbase continually make me facepalm.

[X-ray]

I could imagine a small increase in the price of btc that comes with the publicity so that's good. They're still 2 terrible companies I will continue to avoid though, and would advice you guys to do the same. Paypal are especially greedy and coinbase continually make me facepalm.

paypal aren't greedy,paypal just too strict to their client which make so many people getting dissapointed due to many restriction,i know it's for the sake of security and to prevent from any hacking activities but it'll make using paypal more complicated,although even the rules is this strict,there's still someone who can bypass this so can't say this restriction is useful to prevent any hacking activities

[talkbitcoin]

I could imagine a small increase in the price of btc that comes with the publicity so that's good. They're still 2 terrible companies I will continue to avoid though, and would advice you guys to do the same. Paypal are especially greedy and coinbase continually make me facepalm.

paypal aren't greedy,paypal just too strict to their client which make so many people getting dissapointed due to many restriction,i know it's for the sake of security and to prevent from any hacking activities but it'll make using paypal more complicated,although even the rules is this strict,there's still someone who can bypass this so can't say this restriction is useful to prevent any hacking activities

every business is greedy and they need to be greedy in order to earn more money.

and any wise businessman is starting to warm up to bitcoin and take a second look at it with a different perspective, and as they see bitcoin in a different light they start to see the potential so services like paypal wouldn't want to be left behind.

[Hirose UK]

Seems less like a partnership and more like Coinbase will just send you Paypal funds if you request it.  Notice that you cannot buy bitcoin with Paypal, which makes me think there really isn't a partnership going on, but instead just an agreement that they will let you cash out large sums if necessary.

it's not fair then. we can get paypal from bitcoin, but we can't get bitcoin from paypal. I think people prefer bitcoin than paypal today, CMIIW.

so what's the advantages then? it has advantages for those who use paypal, but how about those who don't use paypal?

[mircolange]

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.
Behind the scenes, PayPal’s been showing signs of interest in virtual currencies. A recently published patent application from PayPal shows the company has explored integrating bitcoin and other virtual currencies like LiteCoin and Dogecoin into physical smartphone payments. The patent application was filed in December 2015.
PayPal also held a hackathon in December, according to multiple sources with knowledge of the event. The purpose? To find out new ways for PayPal to use bitcoin and blockchain technology. The attendees included Snapcard, a B2B bitcoin payments company, Coinbase, and Chain. Developers tested things like cross border payments, merchant processing, and creating a digital wallet using bitcoin.
For bitcoin’s growth, even a slight interest in bitcoin on PayPal’s part would be a big win. PayPal has over 180 million customers and processed $1.4 billion in payments in the first quarter of 2016. The payments giant recently added Wences Casares, CEO of bitcoin wallet Xapo and a renowned bitcoin advocate, to its board of directors in January 2016.

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

I'm just wondering why everyone (or most of them) are really happy because of this, and say these are very good news...
If Paypal will adopt Bitcoin, then Bitcoin will be only one currency in Paypal's system, after USD, EUR, etc....
This means for me, that Paypal won't let their system change (I mean the buyer/seller protection part), so they will develop a system for Bitcoin (maybe a kind of escrow system) to let the Bitcoin payments be reversible in the future (e.g. they will only credit the funds only after a successful transaction, after the watiting period, and for the time, they will escrow the funds somehow, to be able to reverse the transaction, if neccessary).
It's Paypal who will win bigger, if Bitcoin join. Also, Paypal will only accept Bitcoin payment from the users, who has completed the AML, KYC, etc. requirements, so Bitcoin won't be anonymous anymore, if using Paypal.

oh sh*t

[crairezx20]

Any news about this if coinbase are officially accepting paypal to buy bitcoins there?
I have some funds in my paypal and i would like to use coinbase service if they are accepting paypal for payment..

[thejaytiesto]

I still don't see how Paypal is accepting BTC. When I open my Paypal account I can't see option to withdraw or deposit BTC in here and anything else that isn't that is waste of time for me and not that cool. I want to be able to buy in ebay with BTC.

[European Central Bank]

Paypal ain't never gonna offer the pay with btc option.

Coinbase pays out to paypal in usd and that's how it's gonna stay.

Maybe they'll form a deeper partnership at some point.

[GreenBits]

PayPal is the goddamned devil.


I'm sorry, I'm still quite bitter at PayPal. Think it's kind of butt that they can embrace digital currency now, after having policies that specifically discriminated against crypto users in the past. Untold users on this forum have been burned by PayPal, self included. Not willing to jump in bed with them so easily.

[BTCLovingDude]

I still don't see how Paypal is accepting BTC. When I open my Paypal account I can't see option to withdraw or deposit BTC in here and anything else that isn't that is waste of time for me and not that cool. I want to be able to buy in ebay with BTC.

because paypal is not accepting bitcoin YET.
the problem is with the article that OP shared, it is easily misinterpreted.
what i understand from the different news about it and also from coinbase itself, i realize that paypal is not doing anything that is even remotely related with bitcoin the only thing is that "coinbase" will pay you your money ($$$) to your paypal account if you want .

in other words coinbase has added only paypal withdrawal option .

[social crypto coin]

good news
but is true news or only issue, is exchanger support paypal is ready long is virwox
in paypal support bitcoin is i think member can deposit and withdraw is area client membership paypal
iam not use coinbase but i want to ask, is witdhraw bitcoin coinbase is via exchanger marketplaced or via direct wallet

[crairezx20]

I thought that paypal are now accept bitcoin or we can buy bitcoin right now using paypal..

good news
but is true news or only issue, is exchanger support paypal is ready long is virwox
in paypal support bitcoin is i think member can deposit and withdraw is area client membership paypal
iam not use coinbase but i want to ask, is witdhraw bitcoin coinbase is via exchanger marketplaced or via direct wallet

Virwox is not a good news its an old site which is high rate to exchange paypal funds to bitcoin.

[MingLee]

I thought that paypal are now accept bitcoin or we can buy bitcoin right now using paypal..

good news
but is true news or only issue, is exchanger support paypal is ready long is virwox
in paypal support bitcoin is i think member can deposit and withdraw is area client membership paypal
iam not use coinbase but i want to ask, is witdhraw bitcoin coinbase is via exchanger marketplaced or via direct wallet

Virwox is not a good news its an old site which is high rate to exchange paypal funds to bitcoin.

It could just be that they're aiming to make as absolutely much money as possible from commissions and so due to the fees incurred by most other sites, and they use Paypal as their front? I looked at their site and most of the things that are there are still moving in the same ways.

[Hellacopter]

It would be really great news if Paypal allow -with this partenership- that people buy and sell bitcoins using their coinbase and paypal accounts, however things not really clear about this till now