Will you buy BTC from PayPal now that they are letting people do it?

[DraGonD]

No, i will never buy BTC there. They banned my fiat account without reason. Hopefuly, i dont have money there. Anyway, its too shady centralized platfrom. There are better crypto exchanges in the world with better rates. I still prefer to buy crypto from my bank card on bitfinex

[1714837083]

1714837083

[1714837083]

1714837083

[pixie85]

I'm not very aware of what paypal is offering but I heard some users can't withdraw their BTC to store on their own wallet.

I may also buy is things will be different and if they have lower price. ITs easy to make transaction now out of the money earned from freelancing to investing crypto. But there is always a voice inside me also telling not to use paypal.  

I'll also choose to sit this one out for the moment.

There are many different opinions and until it's clear whether paypal BTC trading is safe and works the way it's supposed to it's an unnecesary risk.

I'm very happy that paypal took this step but it's still just another centralized exchange.

That's about where I am at.  I am glad PayPal has allowed a way to participate, imperfectly, with Bitcoin, but I have other methods I prefer.

Recently I signed on with LibertyX, they have a way to buy BTC for CA$H at almost all CVS stores and 7-Elevens.  You have to go through KYC, that's really the only drawback, but if you don't mind...  LibertyX currently offers BTC as below:

-- $20 - $500 limits IIRC
-- a $4.95 flat fee
-- They sell BTC at the "offer price", so a bit higher than, say, preev.com's BTC price.
-- Customer chooses "fast" or "slow" confirmation/miner's fee
-- LibertyX may end this October 31, check!  

libertyx.com

The above works out to about 1.8% TOTAL premium -- with "fast" confirmation for a $500 purchase, which is pretty good!  Note the $4.95 flat fee, obviously premium would be a higher percent for smaller BTC purchases.  I have done this a few times now, it's a cheap way to buy BTC without messing with exchanges.


edited for clarity

Looks pretty good, although I'm in the EU so I won't be using it. As for KYC, if I were to choose between a custodial exchange with KYC and a non-custodial with KYC, the choice would be obvious.

We have some ATMs and even F2F exchanges here, but they usually take a fee of 2-5% so a flat fee would be a very nice change At the moment I'm often using a F2F exchange service that doesn't require KYC. The fee is high but at least it's more or less anonymous.

We definitely need more competition and although PayPal isn't the best or the cheapest it's going to add the pressure those other businesses need to start being more competitive. This is how free market is supposed to work.

[JahriMeayer]

No for now.i agree its a good news that paypal allows buy & sell bitcoin on their platform but not allow to withdraw it.so maybe newbie user will buy bitcoin by using Paypal, but as an advance user of crypto, i don't like, my assest stuck on their platform.rather i would like to see my bitcoin in my wallet & that's why i prefer to buy bitcoin from exchanges, not from on paypal platform

[Pmalek]

I voted no. I am glad that PayPal has introduced this option of purchasing and holding Bitcoin for US citizens, and hopefully the rest of the world within the next couple of years. I would have no reason to not trust them with my Bitcoin because I have a verified account that I use to wire money to myself almost every month. It is a good way to attract millions of new Bitcoin users, but for those of us who have tried out P2P exchanges, meetings between sellers and buyers, it is not the ideal way to go about it. The Bitcoin can't be moved to external wallets or used to purchase any goods or services. It's their crypto until you decide to convert it to fiat on their terms. It's not what hardcore Bitcoiners believe in, but I welcome the initiative and I hope it will show positive results.

I am going to check their new TOS in more detail to see what exactly the users agree to in relation to the crypto that PayPal holds. I expect they will hit you with high fees when you decide to convert your coins back to fiat.     

[wack slacker]

I won't buy Bitcoin through Paypal because I know there are simpler ways to own Bitcoin.
Paypal has ridiculously high fees while I can participate in P2P transactions at reputable CEXs like Binance, Houbi, Okex ...
Currently, Paypal just supports Bitcoin for US citizens, when reaching the world, they will need more laws.

[DeadCoin]

No for now.i agree its a good news that paypal allows buy & sell bitcoin on their platform but not allow to withdraw it.so maybe newbie user will buy bitcoin by using Paypal, but as an advance user of crypto, i don't like, my assest stuck on their platform.rather i would like to see my bitcoin in my wallet & that's why i prefer to buy bitcoin from exchanges, not from on paypal platform

There are too many exchanges where to buy bitcoin that you will own keys, not like paypal you don't even transfer your bought bitcoin in or out of paypal account. The only thing that makes paypal have good benefits to bitcoin is only awareness. Those people who know how to buy bitcoin that they own the keys for sure they will not choose paypal.

[Ryker1]

Well, I voted ^{[I will wait and see]} because I know there is quite an adjustment on the feature of buying they had.
If they allow users can transfer bitcoin to another wallet which is a noncustodial wallet, I will choose paypal and buy bitcoin. But if not, -- why I choose them to trust my bitcoin if I can't even send to exchange. Perhaps, the feature they had is to buy and sell bitcoin and use this to pay in the merchant that supported by them, nothing else matter. Not just because you buy just for holding, that is impossible.

[Justin999]

I want to perticipate buying bitcoin from paypal but Paypal account still doesn't showing any buying option from any other country but u.s. Although we can't withdraw btc from their website but can trade there & possible to make huge profit through that .but if anyone want to hodl btc in their wallet then Paypal is not correct option for them

[harizen]

Maybe I will consider if only there's not much option to buy BTC.

But today, lots of options here in my country to buy BTC in a much convenient way.

I have a Paypal account. The only thing that might consider me to buy BTC there if I found their rates are good. Not checking it yet (or not sure if my account is now eligible for crypto-related purchase) and still not learned the whole Terms of Service related to that.

[philipma1957]

I want to perticipate buying bitcoin from paypal but Paypal account still doesn't showing any buying option from any other country but u.s. Although we can't withdraw btc from their website but can trade there & possible to make huge profit through that .but if anyone want to hodl btc in their wallet then Paypal is not correct option for them

actually it is really good for me to do a hodl.

If all I ever do is buy and hodl for 15 months or what ever

when I do sell it would be really simple to figure taxes.

ie spend 1000 usd over 1 year hodl 3 ,5,10,15 years. and cash.

simple easy to do on my usa tax return.

[Pmalek]

If they allow users can transfer bitcoin to another wallet which is a noncustodial wallet, I will choose paypal and buy bitcoin.

I doubt that will happen. Many users who have never transacted with Bitcoin before could make mistakes that result in them losing their coins. They can send them to the wrong address and blame PayPal. This would create additional customer tickets that support would have to handle, and users would be bashing PayPal all over the Internet and social media. None of this is in their best interest.

Perhaps, the feature they had is to buy and sell bitcoin and use this to pay in the merchant that supported by them...

The option to buy goods and services is going to be added eventually and that is an interesting feature. It would be even better if they allowed Bitcoin to be transferred from external wallets into your PayPal account, and using those funds to purchase goods and services. But I don't think that is going to happen either as they would be losing out on fees when doing the coversions.

I just checked my paypal account, but there is still no option to buy bitcoins there. It seems that this is because the Asia region where I live does not yet support these new features.

It is not available to anyone expect citizens from the United States. They will extend to other regions during 2021.

[kotajikikox]

No for now.i agree its a good news that paypal allows buy & sell bitcoin on their platform but not allow to withdraw it.so maybe newbie user will buy bitcoin by using Paypal, but as an advance user of crypto, i don't like, my assest stuck on their platform.rather i would like to see my bitcoin in my wallet & that's why i prefer to buy bitcoin from exchanges, not from on paypal platform

. The only thing that makes paypal have good benefits to bitcoin is only awareness.

Wrong because those who regularly uses Paypal in their online transaction will surely benefits from this and they will be the first to use this system.
And besides there is no forcing if we will use exchange or not but for sure sooner there will be upgrading that will happen and we can do in paypal what we can do in exchange.

Those people who know how to buy bitcoin that they own the keys for sure they will not choose paypal.

Anyway there are many way on how we need our Bitcoin and other altcoins so this is not a one way thing.
Just wait for a short period of time and you will see what will be the benefits of all this.

[DooMAD]

The only thing that makes paypal have good benefits to bitcoin is only awareness.

Wrong because those who regularly uses Paypal in their online transaction will surely benefits from this and they will be the first to use this system.
And besides there is no forcing if we will use exchange or not but for sure sooner there will be upgrading that will happen and we can do in paypal what we can do in exchange.

What can you do in an exchange, though?  Stop and think about it.  What are you really doing?  

After you deposit funds to an exchange, no transactions are taking place on any blockchains.  You aren't the owner of the tokens that are being "traded".  You're moving representations of coins.  You're playing with IOUs and paying for the privilege.  None of it is a genuine transaction.  Every number you see on your screen that you think belongs to you, in practice, belongs to them.  They own all of it.  They hold the keys.  Until the point where you choose to withdraw some coins (assuming they let you) and once again they'll charge you for the privilege.

Every single thing you "do" on an exchange is the exact opposite of the way Bitcoin was designed to be used.  Attempting to make the everyday use of Bitcoin more like an exchange is not an "upgrade".  It's a perversion.

The beauty of Bitcoin is that no one can block your transaction.  You are waiving that right by handing over control of your money to strangers on the internet.

[rodskee]

I think i will wait and see,i am purchasing some items from Ebay using paypal but i am not sure about how and what is the benefits from this so i decide sooner when the operation and success comes enter.
i don't wanna go with the flow in things that i don't really support and understand that well.

I just checked my paypal account, but there is still no option to buy bitcoins there. It seems that this is because the Asia region where I live does not yet support these new features.

ops have just checked it now and yeah there is still no option,Maybe Asian region still waiting for the green light to start and acquire from this.

[asus09]

I think i will wait and see,i am purchasing some items from Ebay using paypal but i am not sure about how and what is the benefits from this so i decide sooner when the operation and success comes enter.
i don't wanna go with the flow in things that i don't really support and understand that well.

I just checked my paypal account, but there is still no option to buy bitcoins there. It seems that this is because the Asia region where I live does not yet support these new features.

ops have just checked it now and yeah there is still no option,Maybe Asian region still waiting for the green light to start and acquire from this.

I am happy when paypal accepted bitcoin and altcoin but I think if we can buy bitcoin and altcoin trough bank what for have to use paypal, do you know how complicated with using paypal and how many member got problem their paypal account limit? I never buy bitcoin and altcoin trough paypal because very bad way and we can buy using band or convert our money with local exchange to buy and hold bitcoin. Good impact to make bitcoin to the top price if paypal accepted bitcoin and know every one can buy bitcoin with paypal purchase.

[Swordsoffreedom]

And whatever it is, it cannot be called BTC. If you buy BTC, what PayPal offered, you can't send it anywhere outside. You can only buy BTC with PayPal and then convert that BTC to PayPal again, who knows if it has any function at all! just deduct some fees from the middle. If I buy BTC but can't withdraw or use it and can't bring it to my hardware wallet, does that BTC has any value?
PayPal has not yet introduced the option to buy BTC to the public, it is still in the experimental stage, so I'll wait & see what will they do.

[Nazmul012]

I vote for "I will wait and see".that is because, Paypal just accepted bitcoin but they remain bitcoin withdrawal close. I assume, they might have plan about it but due to they are new in this Crypto field, so we should let them sometime for complete upgradation.if they take bitcoin seriously & enable its withdrawal option for users in upcoming upgradation, then i would like to try purchasing bitcoin from them, otherwise no.

[concept2]

I have not even made a Paypal account yet. In my country, the utilization of PayPal negligible, you can scarcely find the existence of it in our daily life. Nonetheless, there have been many digital wallets which bring us a lot of advances and benefits. Quite great

Personally, I do not like the idea of buying bitcoin on PayPal. Although they are the leader in online payment, using their platform is committed to giving away our privacy. But if there is no way to resolve this problem, I guess people will use PayPal to access bitcoin. In my country, we use Remitano to buy and sell bitcoin because it is fast and convenient. It's also a p2p platform

[Smartprofit]

I vote for "I will wait and see".that is because, Paypal just accepted bitcoin but they remain bitcoin withdrawal close. I assume, they might have plan about it but due to they are new in this Crypto field, so we should let them sometime for complete upgradation.if they take bitcoin seriously & enable its withdrawal option for users in upcoming upgradation, then i would like to try purchasing bitcoin from them, otherwise no.

So far, only US residents can buy BTC with PayPal. 

If we talk about the future, then I have doubts.  Bitcoin doesn't need intermediaries.

I have no trust in PayPal.  The Bitcoin blockchain is transparent.  PayPal is not transparent.

Amid the financial crisis, can I trust PayPal?

I trust Bitcoin.  Bitcoin is open source.

[Inkdatar]

No. I believe that this opportunity will be interesting mainly for beginners in the crypto industry. I'm not interested in this.

This adoptions makes other people more interested in bitcoin. Yes, also the beginners in this industry for sure will use their services. But as we know, not your keys not your crypto, so for me I have still doubt purchasing btc from PayPal. And, I might buy btc directly from exchange than using PayPal services.