Bitcoin and Paypal, which you think are safe. Which will make your future life better.
Bitcoin is better than Paypal. There are many reasons why I said that Bitcoin is better than Paypal.
1. Freedom - You can use and earn Bitcoin easily rather than Paypal. In PayPal you have first to confirm your account before you can use and earn.
2. No Chargebacks - When a Bitcoin transaction is sent, it cannot be reversed or “charged back.” These chargebacks often create a problem for merchants as unscrupulous customers can sometimes take advantage of this policy to get the product and money back whereas a Bitcoin transaction is final.
3. Privacy - While Bitcoin is not truly anonymous, it can still provide a certain level of anonymity or pseudo-anonymity for users if they know how to cover their tracks and manage their digital wallets – a process that is expected to become more user-friendly with time. In contrast, this is impossible for PayPal users as they are required go through the burdensome process of filling out long forms to prove where the money came from and what it will be used for. This is particularly true for international users.
4. Versatile - To use PayPal, you must be online and have a credit card. In contrast, Bitcoin can be sent offline via email or even SMS on a Nokia dumb-phone.
5. Decentralized - The decentralized nature of Bitcoin means that there is no single clearing house monitoring and controlling the network. This ‘trustless’ payment system greatly increases the security of a network as there is no single point of failure such as from a DNS attack. one of the biggest problems reported by PayPal users is that their accounts can be immediately frozen. Under a decentralized network, this simply cannot occur as there is no central clearing house or Bitcoin CEO that can lock you out of your digital wallet. PayPal’s burdensome verification process has also received much criticism.
6. Less Friction - With Bitcoin, it doesn’t matter whether you send 1 cent or 1 billion’s worth, the transactions fee is the same. And since it’s actually your money, it is only logical that you should decide on the amount you want to send.
For comparison, PayPal states:
“If you don't have a PayPal account (for instance, you made a purchase on eBay as a Guest): You can send a one-time payment of up to $4,000.
Transaction Limit for PayPal account holders
You can send up to $10,000 in any one transaction. (This amount can vary depending on your currency.)”
It should be mentioned, however, that Paypal does offer a "send to friends and family" option for its clients where they waive their fee. Although this feature does enable cheaper transactions, the downside is that it’s only available for US-based individuals and excludes businesses and merchants.
7. Truly Global - PayPal is not available in every country with notable exceptions being Iran, Afghanistan, North Korea, and Haiti.
Bitcoin on the other hand is the first true transnational currency because it is border-agnostic like the Internet. In other words, it can be controlled to an extent on a very local level but cannot be shut down globally unless electricity is shut off everywhere in the world.
Unlike PayPal, Bitcoin can offer citizens living under oppressive regime a way out. People using this borderless currency can circumvent state supported financial monopolies and establish their own local economies.
