Will Bitcoin bring an end to Paypal?

[lamadu3]

In the spirit of mass adoption we are likely going to see the death of PayPal and other payment gateways. Do you foresee the death of PayPal soon by Bitcoin? At some point people would want to feel safe in not tying their credit cards to any online payment gateway. Your thoughts?

I think they can coexist, they can adopt a friendly environment and collaborate together. We already have many ways to turn Bitcoin into fiat through paypal. In short-term period I think it's essential maintain and develop the collaboration with paypal.

I also see here no reason to think that Bitcoin can easily destroy one of the coolest and the most popular payment systems which are used globally. PayPal will live long.

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[Jannn]

There is no reason to think that Paypal and Bitcoin can't coexist, they are afterall very similar, and it wouldn't take much modification to incorporate Bitcoin into Paypal as just another currency. I think this is the more likely route we will see.

[beurk]

Well, it's way too soon to ask this question I think. PayPal has been efficiently here for years now, is well set up in many merchant website and also adopted by a lot of users. Bitcoin still is a new guy in the game. Let's wait a couple of years still and we'll be able to answer the question.

[nikola22]

Since the creation of BTC, paypal has been one of the payment methods which is gradually declining. I think in some years to come people will instead be using BTC other than paypal. 

but with Paypal you can make a dispute and return your funds from scammer and with Bitcoin you won't have such opportunity.

[Crafts12]

In the spirit of mass adoption we are likely going to see the death of PayPal and other payment gateways. Do you foresee the death of PayPal soon by Bitcoin? At some point people would want to feel safe in not tying their credit cards to any online payment gateway. Your thoughts?

I think bitcoin will not end the paypal. Although there are some qualities that have the each other, bitcoin cannot be the same as paypal and vice versa. Paypal is more legalize and more accepted by many unlike in bitcoin it is still conquering the approval of the people and the governments. Bitcoin is still keep on pursuing the regular usage and legalizing it.

[nightfury]

Pretty as it seems, bitcoin may pose threat to Paypal's dominance in online payment. With bitcoin's success already in the spotlight, i think bitcoin's resumè now is greater than that of the latter and can really surpass Paypal and made it obsolete in the coming years.

[jcmansah7]

In as much as i really don't see bitcoin bringing down other electronic payment system like Paypal down there is that possibility especially if bitcoin transactions is adopted and appreciated by the masses.

[oseikuf44]

Not that really can bitcoin bring paypal down. Bitcoins as a form of money remittance is just a function that even new blockchain is competing with bitcoins and to talk of bitcoin ending paypal seems not possible because paypal has a strong brand to stay on top of money remittance game.

[oceantiger]

Bitcoin transaction is faster and cheaper compare to paypal and other online gateways,cheap when there is no third party to pay as in the case of paypal. But if as expected bitcoin is adopted universally it will affect the fortune of paypal and all other online payment gateways. The only snag to bitcoin is because it is highly technical as not much people will have the know how to handle bitcoin. But Paypal will update one aspect of their services may be reduction in their service charge to fight back.

[jaydenbox]

Hopefully it will replace it soon enough, all the problems I have had with paypal, and not only me but alot of people is ridiculous, limiting accounts for bad reasons, not letting you to withdraw money for whatever reason, I just hope all the big companies start using bitcoin, and life becomes much more easier.

[timotron]

Maybe, But BCT is not ideal for this task.

There are other projects in the market who has bigger chances to overtake the " crypto Paypal"

UTK is, in my opinion, is the one who is doing it the best way.

https://cryptonews24x7.net/crypto-online-transactions-utrust-wants-to-be-the-paypal-of-crypto/

[crossabdd]

it can happen, death about payments like paypal etc., because there are too many requirements that must be done to use it. while bitcoin, users can make any payments without rules. most people want freedom in transactions. I understand that paypal rules are for user security, but that also makes it difficult for users, while bitcoin, all are user rights. if bitcoin is officially used. I believe that many payments like paypal, payoneer, skrill, etc. will not last long.

[burky155]

I think the two system is totally different. In Paypal you can just use your email and bank account but in bitcoin or cryptocurrency more complicated. But it is the crypto times and paypal will fade i believe in that too. There are many countries that you can't use Paypal since 2016. Like Turkey and Middle East countries, but you can use cryptocurrency.

[PlusOne88]

I think there is a difference between their services and if bitcoin is going to get even more popular, being a different company I am certain that they will be upgrading their services so as to conform to the current technology or perhaps to surpass whenever possible. People especially in business would never want to just fall and would tend to innovate something for better. So to see the death of Paypal is something quite a bit far from reality.

[VadikZimnyayaRezina]

Many wallets have already adopted such currency as bitcoin, many of the terminal sites can be paid with bitcoin and it horoshi out, and while we have seen the development and purse and Sami currency.

[ACarr]

I really doubt it... too many old fogies who will refuse a newfangled payment method. Plus it's too tricky right now to get, use, and protect. But that's just my opinion.

[April Ford]

I don't feel like these are relevant. They're not the same.

Bitcoin isn't a competitor of a Paypal. Paypal is not a currency. Paypal would essentially just be an online wallet if they supported Bitcoin, no?

[flexnbit]

In the spirit of mass adoption we are likely going to see the death of PayPal and other payment gateways. Do you foresee the death of PayPal soon by Bitcoin? At some point people would want to feel safe in not tying their credit cards to any online payment gateway. Your thoughts?

I am sure that soon bitcoin can be used to pay for goods and services around the world, but at the same time I don’t think that other payment systems will disappear. Many people are accustomed to a particular payment system and will not want to change it. At the same time, I am sure that bitcoin will be able to exist without problems with paypal.

[Theb]

Why do you think that Bitcoin mass adaption will bring the death of Paypal? Just like Paypal, Bitcoin at best will just be another mode of payment which even if mass adopted will only be one of the many other options available to man. People even before Bitcoin was invented has been using different modes of payment in which they use depending on the situation, there is no sense of loyalty where they stick to just one kind of payment as it will also depend on what the seller/receiver is accepting.

[reverseflash]

Most likely, PayPal will adapt to the capabilities of Bitcoin and will offer options for mutual settlements that will be arranged by both the seller and the buyer. For example, if the seller does not accept payments in Bitcoin, but you only have Bitcoin and you do not want to waste time on visiting exchangers.