Will Bitcoin overcome Paypal?

[Fatanut]

As most of the votes say, Bitcoin will definitely overcome PayPal. Well, may not be right now but in near future for sure. Bitcoin beats Paypal in every possible way. User interface, fee structure, trustworthy, the list goes on and on..

The list goes on and on but it stops at the part where there's written "Amount of users". It would be really hard for the bitcoin community to outgrown Paypal users in this aspect simply because bitcoin is not as newbie friendly as Paypal. Paypal spoon feeds you the instructions while in bitcoin, you would have to research on your own if you want to know something.

Simply put, a useful thing would remain become useless if no one knows how to operate it. Even if the concept of bitcoin is better than fiat, people haven't got the time to study bitcoin and ultimately understand it.

Another reason why bitcoin would have a hard time to overcome paypal, merchants are using Paypal simply because websites like Amazon, and eBay do so. Supposed that a particular person is using bitcoins because he read about it online, he would be disappointed if he wasn't able to buy from these really common/popular online shops (Amazon, and eBay). It's relatively hard to find a person/website selling items online that accepts bitcoin as payment.

[1715388299]

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[1715388299]

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[nelson4lov]

As most of the votes say, Bitcoin will definitely overcome PayPal. Well, may not be right now but in near future for sure. Bitcoin beats Paypal in every possible way. User interface, fee structure, trustworthy, the list goes on and on..

The list goes on and on but it stops at the part where there's written "Amount of users". It would be really hard for the bitcoin community to outgrown Paypal users in this aspect simply because bitcoin is not as newbie friendly as Paypal. Paypal spoon feeds you the instructions while in bitcoin, you would have to research on your own if you want to know something.

Simply put, a useful thing would remain become useless if no one knows how to operate it. Even if the concept of bitcoin is better than fiat, people haven't got the time to study bitcoin and ultimately understand it.

Another reason why bitcoin would have a hard time to overcome paypal, merchants are using Paypal simply because websites like Amazon, and eBay do so. Supposed that a particular person is using bitcoins because he read about it online, he would be disappointed if he wasn't able to buy from these really common/popular online shops (Amazon, and eBay). It's relatively hard to find a person/website selling items online that accepts bitcoin as payment.

I clearly understand the point you're making but I may have to disagree with you at some points.


Paypal is all about Fiat & Centralization while Bitcoin is a complete opposite of that. Believe it or not, Bitcoin will eventually outgrow Paypal because People love decentralization and maintaining online privacy is very much important. These are features Paypal falls short off.

You talk about Bitcoin's Limitations, But you failed to acknowledge that Paypal itself has several limitations (Not very pleasant limitations) For instance, In some countries, Paypal users can only send payment but cannot receive payment. It's a pain in the ass. Such users will easily ditch Paypal for bitcoin.


About the issue of [/b]Few[/b] Online stores utilizing Bitcoin as a payment method... Awareness about Bitcoin is still on. I believe Amazon ,Ebay and other top online shops have bitcoin in their todo list and If One of these online shops implement Bitcoin payment, Others will follow suit. Bitcoin and Blockchain Technology will favor Online shops a whole lot so You may want to keep an eye on that too.

We may have to wait and watch things unfold

[basesaw]

As most of the votes say, Bitcoin will definitely overcome PayPal. Well, may not be right now but in near future for sure. Bitcoin beats Paypal in every possible way. User interface, fee structure, trustworthy, the list goes on and on..

the only one that bitcoin really needs to pursue is the security of every users and traders. we all know that bitcoin can easily use to illegal things like for example in deep web. bitcoin developers or wallet developers must do actions about those illegal transaction. they should trace all the persons who are behind that matter and let them punished by the law.

[whizter]

Do you think that sometime in the future, Bitcoin might overcome Paypal, as it scales in capacity and userbase over the years?

We already have the ability to create our own marketplace with OpenBazaar, that uses Bitcoin as its payment method, so it should be no surprise that the combination of these two may be a fierce competition for both eBay and Paypal.

Nevertheless, feel free to vote on the poll above and express your opinion about it, if desired. 

Paypal is being used mostly every where and to think that bitcoin can overcome it is really to hard (at least for now and for the next few years) because firstly paypal is being used in ebay, one of the biggest online shop for digital/physical stuff then it is integrated in many payment processors where together with amazon pay, credit cards, paypal is included in the list and they ship the items to user's paypal address so bitcoin is so far but the hope never ends.

i think bitcoin has already overcome bitcoin. bitcoin is still becoming more and more popular. paypal is limited to some area whereas bitcoin is present everywhere. now we can see that in every online shop in payment methods, bitcoin payment option is always present. bitcoin transaction fee is less that paypal that is why bitcoin is now becoming more and more popular.

[Zadicar]

Do you think that sometime in the future, Bitcoin might overcome Paypal, as it scales in capacity and userbase over the years?

We already have the ability to create our own marketplace with OpenBazaar, that uses Bitcoin as its payment method, so it should be no surprise that the combination of these two may be a fierce competition for both eBay and Paypal.

Nevertheless, feel free to vote on the poll above and express your opinion about it, if desired. 

Paypal is being used mostly every where and to think that bitcoin can overcome it is really to hard (at least for now and for the next few years) because firstly paypal is being used in ebay, one of the biggest online shop for digital/physical stuff then it is integrated in many payment processors where together with amazon pay, credit cards, paypal is included in the list and they ship the items to user's paypal address so bitcoin is so far but the hope never ends.

i think bitcoin has already overcome bitcoin[/]. bitcoin is still becoming more and more popular. paypal is limited to some area whereas bitcoin is present everywhere. now we can see that in every online shop in payment methods, bitcoin payment option is always present. bitcoin transaction fee is less that paypal that is why bitcoin is now becoming more and more popular.

Maybe you are trying to say bitcoin already overcome paypal and it seems your on typo for sure.If thats the case i would really agree on your statement since paypal is really limited only on some areas on which it can be covered by its service unlike on bitcoin which could really be used in instant globally with less fees only.

[notech]

They will coexist as two popular forms of payment, maybe for different market segments

[gilangIDR]

I strongly believe bitcoin has better quality than the paypal .. bitcoin provides us the ease and reliability as well. bitcoin is a means of payment in the future.

[BitHodler]

I strongly believe bitcoin has better quality than the paypal .. bitcoin provides us the ease and reliability as well. bitcoin is a means of payment in the future.

Bitcoin and PayPal each offer people a different feature set. In terms of PayPal it's the added security that makes it a more than popular payment service. You can't deny that.

People love to have buyers protection where they can initiate charge backs in case they need it. Other major benefit is the large scale of their acceptance throughout the world.

Nearly in all web shops you have the ability to use PayPal as checkout option, which is just another major benefit. Bitcoin needs to realize its growth via other features than just a payment tool.

Point is, we as Bitcoiners know and understand what Bitcoin is capable of, but we need the average person to get that level of understanding as well. Because hey, we need these average people in order to grow.

[pixie85]

PayPal is the thing of the past.
Chargebacks, high fees, no anonymity. There's nothing good about PayPal I stopped using it long time ago.

[tabas]

PayPal is the thing of the past.
Chargebacks, high fees, no anonymity. There's nothing good about PayPal I stopped using it long time ago.

Let's admit it that we really hate paypal nowadays because we have another choice which is bitcoin. But let's also admit that Paypal has something good that did to our lives when we worked as freelance and accepts our salaries through them and sent it to our back. The technology is just on a fast track where people's desire is getting more higher.

[NEWGOODOUBLE]

I strongly believe bitcoin has better quality than the paypal .. bitcoin provides us the ease and reliability as well. bitcoin is a means of payment in the future.

I think paypal also has a good quality for a payment method. you can not look down upon paypal which has millions of users. I think bitcoin need more time to beat and exceed paypal

[darkangel11]

Many countries use paypal while bitcoin you have to convert to fiat to use in many countries.

Example of my case:

The bitcoin debit card does not have support for my country, I have to exchange bitcoin to paypal and then I transfer to my bank

It will not be so soon that bitcoin will overcome paypal.

Why do you use PayPal? Isn't it less expensive to exchange bitcoin to fiat through one of the exchanges? I would avoid PayPal at any cost, simply because it takes a percentage of transferred money as a fee, which is ridiculous. A fixed fee is reasonable, but charging 3% + exchange fee is a bit too much. For every $1000 sent abroad it's over $300 in fees! With Bitcoin you could send $10k with a $1 transaction fee.

[coinplus]

Many countries use paypal while bitcoin you have to convert to fiat to use in many countries.

Example of my case:

The bitcoin debit card does not have support for my country, I have to exchange bitcoin to paypal and then I transfer to my bank

It will not be so soon that bitcoin will overcome paypal.

Why do you use PayPal? Isn't it less expensive to exchange bitcoin to fiat through one of the exchanges? I would avoid PayPal at any cost, simply because it takes a percentage of transferred money as a fee, which is ridiculous. A fixed fee is reasonable, but charging 3% + exchange fee is a bit too much. For every $1000 sent abroad it's over $300 in fees! With Bitcoin you could send $10k with a $1 transaction fee.

Not $300 but $30+ still 30 times more fee than bitcoin.
There would be many reasons, why we should avoid PayPal for business and personal usages. But in near future, Paypal is going to be one of the exchange to sell our bitcoins (to buy bitcoins we might have more restrictions).

[rickadone]

Paypal is collapsing, if just more people would understand the benefits of bitcoin it would collapse faster.
Only reason for me to use paypal just for ebay.
Ebay bought paypal and it will never integrate bitcoin, because they would earn less, we need something bigger like ebay but only for bitcoin virtual currency.

PayPal isn't collapsing at all. To make it even more interesting, PayPal has been growing constantly from year to year. It's not for nothing that even though quite some Bitcoiners don't seem like to it, it's still enjoying larger fields of acceptance throughout the world. Other than that, PayPal doesn't need to collapse. People are free to use whatever payment option they want as every platform offers its own benefits. In some cases PayPal comes out more handy, and in other cases it's Bitcoin that is the better option.

I agree that the bitcoin is good in some cases and PayPal in some, but just to be clear PayPal had to go over some serious difficulties at first in order to become used by so many people nowadays and be accepted in every online shop, and I think that with time bitcoin will become also popular and may overcome PayPal in the future because it is more secure.

[KuromaYoichi]

i personally think bitcoin will overcome Paypal, less fee to pay and no chargeback. Paypal already a well established company but there's a lot of issues and they are not even bother to solve these problems. they will decline and will be gone in 10-20 years

[Bitcoinsummoner]

Paypal is collapsing, if just more people would understand the benefits of bitcoin it would collapse faster.
Only reason for me to use paypal just for ebay.
Ebay bought paypal and it will never integrate bitcoin, because they would earn less, we need something bigger like ebay but only for bitcoin virtual currency.

PayPal isn't collapsing at all. To make it even more interesting, PayPal has been growing constantly from year to year. It's not for nothing that even though quite some Bitcoiners don't seem like to it, it's still enjoying larger fields of acceptance throughout the world. Other than that, PayPal doesn't need to collapse. People are free to use whatever payment option they want as every platform offers its own benefits. In some cases PayPal comes out more handy, and in other cases it's Bitcoin that is the better option.

I agree that the bitcoin is good in some cases and PayPal in some, but just to be clear PayPal had to go over some serious difficulties at first in order to become used by so many people nowadays and be accepted in every online shop, and I think that with time bitcoin will become also popular and may overcome PayPal in the future because it is more secure.

If there are many changes about bitcoin in the future it can overcome the paypal.. but for now many people are using paypal because ots more popular and many people are trusting it when they are buying and shopping online and most acceptable than the other online payment like bitcoin..

[Doamader]

Bitcoin transactions does take more time then usual, and it should became instant over the next years or something near those, the fact that have to wait to get confirmations and money credited nowadays is being a problem for bitcoin and a solution gor the most crypto currencies.

[DarkIT]

i personally think bitcoin will overcome Paypal, less fee to pay and no chargeback. Paypal already a well established company but there's a lot of issues and they are not even bother to solve these problems. they will decline and will be gone in 10-20 years

it is not wrong. all right, but, people the world over acknowledge paypal compared bitcoin. perhaps because paypal take full responsibility for the funds in Leave. besides, paypal require all consumer information to be accessed. Well, I think, people prefer it that way, rather than as simple as bitcoin.

[shield132]

Anyone here reads some comments? How can you consider bitcoin and paypal in one way? Is paypal currency? No, they are only operating online payments and bitcoin is currency. Also when you are shopping, paypal has buyer protection, it's possible to take back your money if you'll reseive damaged product or different thing. With bitcoin and it's nature, this is impossible because once anyone receives bitcoin (in our situation money) than it don't matterd, you can't get them back.
Hope I explained everything correctly.

[andrei56]

Of course bitcoin will eclipse paypal, paypal is not even close, we are talking about a currency here not some overrated payment system, bitcoin has the potential to replace some of the most powerful currencies that have ever existed, paypal is nothing compared to bitcoin.