Coinbase has partnered with Paypal - Officially!

[jacee]

I think most of you guys saying it's a one way thing are missing the bigger picture, HELLO this is PayPal they use to hate having anything to do with bitcoin, this is a small step but a huge step in the right direction

I agree, this also spreads the influence of Bitcoin to people who are usually only exposed to fiat enabling them to have easier access to Bitcoin.

It doesn't really makes any differet fro what paypal and bitcoin is now standing. It will onl be benificial if paypal would allow buying bitcoins through them. Most people buy, not sell, their coins with paypal. I've seen it.

[bittraffic]

paypal should instead create a token of their own to which its function can move fiat into crypto.

[VC George]

Who gives a fap?  
There are easier, safer and more cost effective ways to cash out your coins (eg Xapo debit card)

[justspare]

Well that is definitely good for customers of Coinbase. But you can't buy Bitcoin from coinbase if you live in Australia, which really sucks. I have to use localbitcoins which is still good.

[BitTraderCute]

this is good idea, paypal is largest payment processor, im sure more paypal user will interesting to buying bitcoin with this support

[uniton]

According to the article buying bitcoin isn’t possible yet,  i just wondering why does coinbase only provide withdrawal option to the paypal not deposit option, are paypal scared about scaming, money laundrey or something, anyway i might appreciate this info it is like nice start to paypal embrace the bitcoin, hoping someday they would luanch the withdrawal option, that's gonna be epic.

[pandalion98]

This just proves that paypal wants to dominate the online payments market.
The last time I heard, they were loosing ground to some other competitors, bitcoin being one of them.

Good move, Paypal. They may not be decentralized, but they're enabling many more people to use Bitcoin.

[JarBinks]

The best thing about this is the exposure BTC will get, which will hopefully speed adoption.  More people = More Future

I agree with other comments here..to have a large company, that is not doing all that great, potentially using BTC as it's next thing is probably not good.
The amount of time and money they can bring to the table to impose their will on BTC will be orders of magnitude greater than what exists in BTC today.

In 5 years I wonder if we will see this as "The first step in the commercialization of BTC".   

[RoommateAgreement]

haha so finally PayPal realized the threat that bitcoin has to its existance and want s to take advantage of the situation and wants to get on board and prevent its own deletion.

[chineseprancing]

Wow thats awesome, Im hoping to reduce the buying problem with coinbase, Less problem with their system less hastle, And maybe we can put our bitcoins to paypal directly

[Bit_Happy]

It's not fully integrated so it seems like this is barely a first step. Really all they're doing is not denying these transactions to go through anymore just solely based on them being cryptocurrency transactions. It's a decent start I guess.

This is huge news!
Even if only in one direction, it is a major step for Bitcoin. I once suffered a 6 months suspension of my Paypal account for the "crime" of (being suspected of) selling Bitcoins (of course the buyer had a great reputation or I wouldn't have done it)

Was both of your accounts fully verified? This is the first time I've heard a Paypal suspension for a transaction like that.
...

My only Paypal account was fully verified, and they have a history of suspending accounts if you deal with Bitcoin, so the thread topic is a step forward.

[asriloni]

seems a great news,it would be good if I can pay with bitcoin when a merchant enabling their "pay with paypal" feature without signing up to the paypal
taking fee is normal as long not forcing me to signing up on PayPal's shitty site

[pooya87]

~~
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.
~~

although this sounds good for those who are using paypal but this doesn't seem to be a partnership to me. you can just cash out the fiat in your coinbase account to your paypal account that is it there is not even any deposit with paypal yet.

[mobnepal]

paypal should instead create a token of their own to which its function can move fiat into crypto.

Like theter but if they do create tokens which is backed by the fiat they holding, than they will not be able to charge high fee in every transaction and also they can't ban users for holding high amount of fiat.  

So i don't think they will create new token, but as they now seem to know the power of bitcoin and slowly they may also add deposit via bitcoin feature.

[Patatas]

I agree with people saying that this is not exactly a partnertship, it is just Coinbase using its Paypal account to buy its users BTC. I do not think this is exactly a huge step, why would PP challenge which is probably one of its top customers?

Because paypal officially knows regardless of their restrictions to avoid usage of crypto,people are doing it anyway.There is not much they can do to stop it,except make it official.

Well, I have some BTC that I would love to spend but in this country it is not accepted. I have no idea what are the PP fees (I have used PP but only to receive some USD), but I guess they are way lower than the commissions on LocalBitcoins! I would love that Coinbase bought BTC worldwide. Also, go check the currency exchange forum, you will see how many people is trading BTC / PP.

Not every Bitcoin user is focused on the anonymity it offers, by the way.

Why not try to promote bitcoin to an extent where people would no longer need paypal? Every payment system including paypal is replaced by Crypto ? Why do you even give a centralized corporate organisation any role in bitcoins ?To be very honest,I honestly don't give a fuck if coinbase gets out of the crypto scene.Let there be only peer to peer decentralized anonymous exchanges.People are relying on Paypal because they have no usage of bitcoins in the real life,supporting paypal with crypto is not going to help it either way.

[Ravi Helios]

Such ridiculously bad news for Bitcoin.. I'd suggest getting in Ethereum if you haven't already..

[Grazyah13]

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/

Hi, thank you for the information that you have shared. I just want to clear something, is coinbased same as coins.ph? Where is their office located or who is its founder. I hope you can share me some info regarding coin base.  Do you think that the partnership of Coinbase and Paypal will increase the value of bitcoins? I haven't used paypal yet because there are a lot of requirements in making an account in it so I find it inconvenient that is why I decided to us bitcoins.

[Kakmakr]

Looks like all these Bitcoin payment processors are selling out to bigger companies. First Xapo and then Coinbase and also Circle. It is clear these people are just in this for the profits and they do not care about pseudo-anonymity. They work with anyone, even companies that are known to farm data for their governments. ^hmmmm^

[Herbert2020]

......
Hi, thank you for the information that you have shared. I just want to clear something, is coinbased same as coins.ph? Where is their office located or who is its founder. I hope you can share me some info regarding coin base.  Do you think that the partnership of Coinbase and Paypal will increase the value of bitcoins? I haven't used paypal yet because there are a lot of requirements in making an account in it so I find it inconvenient that is why I decided to us bitcoins.

you can find all that information by doing a quick googling: https://www.google.com/search?q=coinbase
they are a US based service with office at San Francisco, CA you can find their information on their about page.

and i have to say this "partnership" if you can even call it a partnership, is good but i don't think it can affect bitcoin price at all.

[MeteoImpact]

Looks like all these Bitcoin payment processors are selling out to bigger companies.

Well to be fair, Coinbase had already sold out to, "Classic"--they were already fans of trying to commandeer and centralise Bitcoin. This partnership will probably be helpful for some people, I suppose--I've sold small amounts of coin for PayPal credit in the past myself, though these days I just HODL most of what I get and spend (or donate) a little every now and again. Whether you like PayPal or not, it is useful for a lot of online purchases, so having it as an option will probably be handy for some Coinbase users. Obviously you lose a lot of Bitcoin's more interesting features when you go through something like Coinbase or PayPal, but if doing so suits your particular needs, then cool.

Though give it a few years and Bitcoin might well be able to do everything PayPal can do without having to give up your privacy and trust someone else with your money