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Author Topic: PayPal receiving Bitcoin?!  (Read 6150 times)
erickkyut
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July 04, 2016, 06:46:57 AM
 #1

May I know the reason why does Paypal do not accept bitcoin as payment and/or deposit?! I know that Bitcoin is known widely on the internet so Paypal should accept it as a mode of payment since their forte is through the internet. I hope that someday, PayPal will acknowledge Bitcoin and put it as one of the mode of payment in their site. It will be very convenient for us.

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July 04, 2016, 06:49:46 AM
 #2

Paypal is currently not receiving bitcoins officially as payment method , but there was news on the forum i heard recently paypal trying to add as officially , if that comes it will be very good for the transaction  Smiley

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July 04, 2016, 06:57:06 AM
 #3

my experience with paypal is not trustworthy. long time transactions. sometimes not even complete.
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July 04, 2016, 10:15:24 AM
 #4

my experience with paypal is not trustworthy. long time transactions. sometimes not even complete.
That might be the case of fiat. Maybe everything will be different with bitcoin.
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July 04, 2016, 10:28:45 AM
 #5

Paypal is currently not receiving bitcoins officially as payment method , but there was news on the forum i heard recently paypal trying to add as officially , if that comes it will be very good for the transaction  Smiley

that is a good new bro Cheesy I'm hoping that PayPal will made Bitcoin as an official mode of payment. It will be very convenient for us. I wish not only PayPal but also the other site that has to do with receiving money.

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July 04, 2016, 11:31:30 AM
 #6

my experience with paypal is not trustworthy. long time transactions. sometimes not even complete.

whether it is trustworthy or not, you have to agree that PayPal is being used a lot more than bitcoin. although the reason for that is the fact that paypal is working with fiat and have been around much longer time but this will change in the future when bitcoin got some solid footsteps in the world or at least online and bitcoin will soon replace paypal in a couple of years.

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July 04, 2016, 11:35:51 AM
 #7

May I know the reason why does Paypal do not accept bitcoin as payment and/or deposit?! I know that Bitcoin is known widely on the internet so Paypal should accept it as a mode of payment since their forte is through the internet. I hope that someday, PayPal will acknowledge Bitcoin and put it as one of the mode of payment in their site. It will be very convenient for us.
Here:https://www.cryptocoinsnews.com/breaking-paypal-merchants-can-now-accept-bitcoin/
"In September 2014, PayPal announced it would accept Bitcoin via integration with Braintree... Via the PayPal Payment’s Hub merchants could use customizable APIs to integrate Bitcoin into their shops for digital goods. At the time, it released a video hinting at Bitcoin integration."
I didn't really use PayPal much in my life, so I can't really tell, but are you saying they didn't do this thing?

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July 04, 2016, 11:38:25 AM
 #8

my experience with paypal is not trustworthy. long time transactions. sometimes not even complete.

whether it is trustworthy or not, you have to agree that PayPal is being used a lot more than bitcoin. although the reason for that is the fact that paypal is working with fiat and have been around much longer time but this will change in the future when bitcoin got some solid footsteps in the world or at least online and bitcoin will soon replace paypal in a couple of years.

Yes i must agree, paypal has been a long far before bitcoin was born, if both of them being combine, it will be phenomenal, doing transaction will become easier and efficient and convenient for the whole world user


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July 04, 2016, 11:40:44 AM
 #9

As far as O know youq can register your Visa or Master Bitcoin debit card with PayPal and thus you can use your coins with PayPal. Direct deposits or payments at the moment are not possible.

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July 04, 2016, 11:47:22 AM
 #10

Paypal is currently not receiving bitcoins officially as payment method , but there was news on the forum i heard recently paypal trying to add as officially , if that comes it will be very good for the transaction  Smiley

you caused me great happiness with your news sir :hat down:
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July 04, 2016, 12:28:36 PM
 #11

Remember as well that the only reason that PayPal is where its at today is because of eBay.  Had eBay not existed then PayPal would never have become the Internets main way to pay.  Hopefully open bazaar can do the same for bitcoin.

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July 04, 2016, 01:34:58 PM
 #12

May I know the reason why does Paypal do not accept bitcoin as payment and/or deposit?! I know that Bitcoin is known widely on the internet so Paypal should accept it as a mode of payment since their forte is through the internet. I hope that someday, PayPal will acknowledge Bitcoin and put it as one of the mode of payment in their site. It will be very convenient for us.

I`m waiting for this too.This will remove a lot of problems and risks.

But why only Paypal?Some pp competitors like Skrill should also adopt bitcoin.

When the competition adopts btc,paypal will be forced to accept btc as well.


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July 04, 2016, 01:35:59 PM
 #13

PayPal isn't accepting bitcoin because average people would figure out PayPal fees are ridiculous in comparison to bitcoin. People would dump PayPal & use bitcoin exclusively.

Bitcoin is a major threat to PayPal in the long run.

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July 04, 2016, 01:41:10 PM
 #14

Even that users can't directly use Bitcoin to PayPal trading and exchange BTC to USD or their local currency on the fly. There is still hope for this feature to be presented in the future.
Rcently PayPal and Coinbase joined forces. Coinbase added direct support for PayPal bitcoin purchases. It is the first official exchange to utilize this feature.

Reference: https://blog.coinbase.com/2016/06/22/coinbase-adds-support-for-paypal-and-credit-cards/


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July 04, 2016, 01:48:54 PM
 #15

May I know the reason why does Paypal do not accept bitcoin as payment and/or deposit?!
Maybe because it would not merge with their current system? For example, bitcoin is not reversible, its a huge change in their service thats why it would not fit.
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July 04, 2016, 02:06:07 PM
Last edit: July 04, 2016, 02:21:34 PM by gentlemand
 #16

I can't see Paypal ever taking it on officially. Bitcoin's too anonymous and not reversible so there's no way they can offer their users protection (rape). They'd have to become a full on escrow service and that's a lot of work for anyone.

The Coinbase arrangement is about as good as it'll get but I'm willing to be surprised.
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July 04, 2016, 02:20:33 PM
 #17

May I know the reason why does Paypal do not accept bitcoin as payment and/or deposit?! I know that Bitcoin is known widely on the internet so Paypal should accept it as a mode of payment since their forte is through the internet. I hope that someday, PayPal will acknowledge Bitcoin and put it as one of the mode of payment in their site. It will be very convenient for us.
its because of the volatility of bitcoin, if paypal started converting bitcoins to paypal balance and vice versa, people would start using paypal as a bitcoin exchange which they probably dont like.
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July 04, 2016, 02:33:28 PM
 #18

I think that Bitcoin have several very good reasons for it.
First is volatility of bitcoin, so they have to be careful not to have financial lost because of Bitcoin.
Second is anonymity of Bitcoin. Paypal have very strict TOS and refund policy but with Bitcoin  they can't know identity of scammer and block his access to Paypal.
Third is that Bitcoin is not yet mainstream and no so many Paypal users also use Bitcoin as payment option.
 


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July 04, 2016, 02:46:08 PM
 #19

Paypal is currently not receiving bitcoins officially as payment method , but there was news on the forum i heard recently paypal trying to add as officially , if that comes it will be very good for the transaction  Smiley
paypal just have a cooperation with coinbase which actually not having cooperation with the whole bitcoin itself,bitcoin catching widest area than coinbase as coinbase only a company based on bitcoin,so can't say paypal receiving bitcoin fully

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July 04, 2016, 03:03:12 PM
 #20

PayPal isn't accepting bitcoin because average people would figure out PayPal fees are ridiculous in comparison to bitcoin. People would dump PayPal & use bitcoin exclusively.

Bitcoin is a major threat to PayPal in the long run.
paypal just stating planning to accept bitcoin but in cooperation with coinbase,paypal trying to make bitcoin to become a chance to get profit for them rather than considering it as a thread,they'll take  advantage of anything even it's actually a threat before and turn it into chance to make them rich

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